The Philippine peso: Strongest currency in Asia! GOOD NEWS

[pandisal]

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Mao na angay mo mo adapt sa exchange rate sa inyo mga lifestyle, dili pud pirmi nga mag
lipay mo nga taas ang dollar kay naa pud biya mga non dollar earner, (majority sa pinoy). Ug
please malouy pud tawon mo sa nag sustinto ninyo ug dollar... dili biya lalim

Dli mani gud news, its very very bad news!!! ako sustento gikan sa U.S. ni gamay na ang exchange rate!! hahaha

[balatucan]

The OFWs remittances plus the weakening of the dollar caused the unusual strenght of the peso. But as to positive effects on the ordinary Juan de la Cruz, the strong peso is nothing. Prices remain high. With a strong peso, it was expected that a struggling pinoy could buy more of his money.

But it is not happening. Instead the prices of prime goods even increased. The propaganda of a strong peso I think already burst like a bubble. The ordinary people cannot be fooled on this propaganda anymore.

[^-^ eLay ^-^]

naunsa naman tawon ning peso oi....
wa epik man ghapon ang boycott sa mga ofw...


bad news kaau...

[M.A.D.]

This is really bad news.

Prices of gold are rising while the US dollar is descending. This does not look too good for the USD. It basically means that the value for each dollar(when equated to a certain amount of gold) is decreasing.

Gold has far more reserve value compared to the dollar. And what's nice about gold is that it can't be affected by changes in the economy like inflation and deflation. Some companies even use gold as their last line of defense. :mrgreen:

[M.A.D.]

Look at the named seven (7) countries who'd like to abandon dollar, aren't they the one's who hold grudges to the US? It is no surprise for them to abandon the dollar and eagerly replace it with their own currencies. A clear contradiction to their charges to the US of being a self-serving country.

It would be a surprise if Philippines, Australia and other allies of the US will abandon and not from the oppositions of the US.

The economy is growing too fast, and the dollars needed to fund this growth is not enough. You just can't print money without anything to back it up.

If the US were to have her way, she can demand all countries bound by IMF and WB to pay their debt.

Haha, the philippines abandoning the US dollar. I don't think so. I can't speak though for the other countries though.

Our debt to IMF and WB is more than enough for us to accept their deals unwillingly. We will never be out off control of America if this keeps up.

Daniel Dingle, the filipino who made a water car tried to persuade the Marcos government for funding back in the 1970's. But it was not allowed. Since one of the conditions of the WB(world bank) is not to compete with their products.

Things could have been different the way they are now.

Yes, the IMF and WB are owned by big oil. And their purpose is to show america's superiority. Not the altruistic virtue of helping countries get on their feet.

Our geopolitical value is very high for the americans to take for granted. Over time we have made a symbiotic relationship with the US, they allow us to work in their land, while they exploit us. Although the middle and upper class cannot be affected with some of the slightest changes that could happen, this issue will always remain and it will always split the society.

South korea is not a vocal critic of US. There are even US bases in south korea. They need them to defend the 38th parallel. There are even south korean immigrant communities in the US. Even that shooter kid at viginia tech is korean.

[M.A.D.]

my layman's analogy on why we are not experiencing the effects are...

...because we are relying too much on the OFW/OCW remittances which are mostly based in USD and the Arab members of the OPEC are not sanctioned and regulated by anybody thus they can always increase oil prices at their caprice.

If the arabs would have their way they could increase oil output. The ones who have the technology to extract and refine oil are the ones who call the shots.

[fratman2519]

Dili sad ko economist mao mangutana lang ko sa mga nakahibaw ani.
Why man almost all asian countries karon ni-appreciate ang value sa ilang money?

[balatucan]

I totally agree. The people now understand the dynamics of a strong peso. It will no longer sell to them the propaganda that the economy is improving. In fact, the propaganda of a strong peso backfired on the gMA administration. Just observed lately that they are not using it as agressively as before for propaganda purposes.

[jay_sn0w]

commodities will rise continually just because we rely more imports than exports...


you cant expect to lower the prices of comodities when the commodities you buy or consume rely on a completely different country which has more interest in bolstering its own economy than ours...


ie. we buy 1 USD from a country A to make 2 USD , (which the raw materials are bought from country A was ORIGINALLY bought from us or other countries)...what happens if country A increases to 1.50 USD (or if country A currency devalues thus increasing the prices of raw material from us or from another country)?...simple math


we have to develop a country which is SELF SUFFICIENT and SUSTAINABLE...(ok ra gamay NET INCOME, ana man jd na sa sugod pero the point is that we are developing our country for our childrens children...the important thing is we cant rely all the time from other countries to make our country better)


i agree with gokongwei when he said in a BBC interview that we have to focus on the sectors which are SELF SUFFICIENT not those which rely on international factors to make money...



the gov't should INVEST and FOCUS on SECTORS that benefit the country (LONG TERM) and that are SUSTAINABLE (LONG TERM sd)...

[Tin_Tin]

sadly people in the government are only interested in filling up their own deep pockets....