IT’S TIME: PHILIPPINE CURRENCY REFORM

This topic contains 76 replies, has 15 voices, and was last updated by  adorme 7 years, 4 months ago.

Viewing 15 posts - 16 through 30 (of 77 total)
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  • #146002


    josie
    Participant

    to master bait….. don’t waste your time….. you are talking to a….

  • #145984


    ©παςΗ
    Participant

    Hayz, sige na nga! Paulit ulit na lang, sinabi nang hindi ako interesado.Suko na ako, waaah! Wala na akong sinabi, nose bleed na ko. Gawin mo na lang po ang gusto mo. Dalhin mo na lang yang proposal mo sa Senado. Hay! Ang saya dito! Hahaha! .

  • #145983


    muriel
    Participant

    Mr. Master:
    Bottomline …..this discussion group awaits your studies ……

  • #145971


    ©παςΗ
    Participant

    Mr.Muriel, I cannot understand your reply. I only copied and pasted 2 things on this thread to contradict what you said that the Philippine Peso is ailing. Both were news item from reliable sources and the contents are the result of individual studies. These are not my studies so do not ask me. It is you who is proposing something therefore it is you who need to post studies based on your proposal. For the sake of argument and for you to recall, I’m reposting these news items. Again, I am not the writer of these news item and these are not my own words so do not ask me again to make my own studies about currency reforms because I am not interested in your proposal. Anybody else in this thread who’s interested in Mr. Muriel’s Peso Currency Reform? Please speak in his behalf and provide your own cents of justification. Hay buhayz!http://smart-grid.tmcnet.com/news/2011/01/11/5237939.htm. [January 11, 2011] Philippine peso among top currency picks in 2011Jan
    11, 2011 (Philippine Daily Inquirer – McClatchy-Tribune Information
    Services via COMTEX) — MANILA (PHILIPPINE DAILY INQUIRER/ANN) —
    American investment bank Merrill Lynch has picked the Philippine peso
    as among its two currency favorites this 2011, saying the local
    currency was undervalued by about 10-15 percent given the strength of
    the country’s external surplus. Story continues below ?

    Visiting Merrill Lynch foreign-exchange strategist Ashok Bhundia told
    reporters Monday (January 10) that the peso and the Singapore dollar
    were among his firm’s top currency picks for this year.
    “The peso, we believe, is mainly being supported by remittance inflows,
    which remain very strong. The growth dynamics is getting structural
    boost from a reform-minded government and if expectations prove right,
    we should see the fiscal position improve structurally,” Bhundia said.
    Based on a statistical model used by Merrill Lynch in estimating the
    sustainable level of current account, Bhundia said the country’s surplus
    was “a little too large.” As such, he said the local currency would
    need to appreciate to attain an equilibrium, thereby explaining the
    perceived undervaluation of the peso.
    However, he said external jitters would likely bring the local currency
    under pressure in the second quarter. In particular, risk aversion
    from the lingering fiscal crisis in Europe is seen bringing the local
    currency to 43.50 against the US dollar by June from around 42:$1 by
    March this year.
    But the currency upswing is seen resuming in the second half, bringing
    the peso to 42 by September and further to 40 against the greenback by
    end-2011.
    Another factor that would underpin the strength of the peso and other
    Asian currencies, he added, would be the likelihood that China would
    allow the renminbi to appreciate.
    The Philippines is also seen as among the few countries where the risk
    of resorting to capital controls was very low given recent
    pronouncements from the Central Bank (BSP) rejecting such an idea.
    What the BSP had instead done, Bhundia said, was to stop rolling over
    maturing foreign-exchange currency swaps, which had the effect of
    squeezing peso liquidity by shutting down onshore borrowing rates in
    peso. But he said this was a very “technical” response that could not
    likely be sustained going forward.
    “We don’t think central banks will lean against appreciation. What they will lean against is too rapid appreciation,” he said.
    To see more of the Asia News Network, go to http://www.asianewsnet.net/home/
    Copyright (c) 2011, Philippine Daily Inquirer, Manila / Asia News
    Network Distributed by McClatchy-Tribune Information Services. For more
    information about the content services offered by McClatchy-Tribune
    Information Services (MCT), visit http://www.mctinfoservices.com.                                                                     _____________________________________________________________________________Since 2007…Philippine Peso is Asia’s best performing currency
    Philippine Peso reaches a 7 1/2year high as it continues to be Asia’s best performing currency
    Submitted by Peter Fleming on Thu, 13/12/2007 – 5:14pm. In Exotic Currencies | Economic Indicators | Market ReactionsThe Philippine Peso reached a 7 1/2 year high against the U.S. Dollar
    whie the South Korea’s Won incurred a sharp decline after US. job
    data increased the appetite for higher risk investments amidst the
    Federal Reserve decision to cut interest rates. In the Asian region,
    every currency appreciated against the US Dollar apart from the Taiwan
    Dollar and the Korean Won. The US Federal Reserve
    on Tuesday cut its interest rate by a quarter of a percentage point
    to 4.25 percent, its third rate cut in an expansionary stance.
    Investors and traders believe that a cut in interest rates by the
    Central Bank of the Philippines on December 20 is the only way to curb
    the rising Peso. Despite the ongoing subprime crisis in the US, the
    Filipino Peso is said to remain strong due to the strong foreign
    exchange inflows from Overseas Filipino Workers (OFWs) to their
    families amidst the approaching Christmas season. In forex trading,
    the Philippine Peso strengthened 0.4 percent against the US Dollar
    today. It hit 41.58 per US Dollar. The Philippine Peso has risen close
    to a total of 19 percent against the US Dollar this year and is at a
    high level since

  • #145968


    muriel
    Participant

    My answer to these is “not yet” because your proposal needs to be studied.
    Mr.Master: Clealy, your cut and paste statements suggest to this group a study that awaits an answer from you. Stand and get an honor on your words for you definitely owe an explanation.
    Good Luck on your studies and hopefully yo can publish this in a short time.

  • #145967


    ©παςΗ
    Participant

    Dae yata tawo, robot ata ini. Computer generated, dae madunong makaramdam hahaha! No offense, jowk onle!

  • #145966


    ©παςΗ
    Participant

    No Mr. Muriel, you completely misunderstood me. It is not I who should provide some study. It is you because this is your proposal. I do not have an in-depth idea about currency reforms that’s why  I’m asking you all about currency reforms and how good is your proposal. I just happen to research some articles on the web that I’m bringing it in this thread you started to let in the other side of the discussion, because I’m into the opposite side of your proposal, and I’m challenging you to give light that would make me agree with you.

  • #145965


    muriel
    Participant

    Mr. Master:
    You have good thoughts and suggestions in your arguments …….there is only one problem here: you need to focus your arguments to get some kind of directions then move forward
    Again, our goal and objectives remain the same. We lookforward on your studies and maybe you can share that idea in this group someday.

  • #145964


    ©παςΗ
    Participant

    MR. MURIELIf our opinion doesn’t matter to you after all, then I guess your proposal will never pass here in this forum because you cannot listen to other opinions and or maybe you’re just after one purpose – you might be working for a financial currency firm abroad and you want to bring that business here in our country (just a thought, correct me if I’m wrong). It’s hard to know what’s your agenda so please do not keep us guessing. Because if you bring this topic in the Senate, you will be asked to answer the same questions or much more. You keep telling us that your proposal has been tested many times (by whom and for whom?), yet you cannot answer several questions and cannot enumerate the benefits and identify what good your proposal would bring. I bet you are thinking that once your proposal gets to the Senate, it would pass without inquiry and will be implemented immediately overtime. Well, I tell you now, that’s not the procedure. We are talking about the lives of millions of Filipinos. Unless you can give us a better insight of what good this Peso currency reform is, it would not pass. Better insight includes studies made on our Peso decades after decades, and some test data of your procedure. How would you justify that Philippine Peso is the culprit and is failing? Tell us all about your plans and your strategies and maybe we will understand better.

  • #145963


    muriel
    Participant

    Mr. Master:
    As we have been writing here many times, this idea have been tested, argued, and challenged many times. We don’t know where your mind is going and what you are thinking …..or does it mater at all?
    This group is well prepared to bring this challenge to the bigger population with the goal of getting a legislation to open an argument to the Philppine Senate. Good Luck on your studies.

  • #145960


    ©παςΗ
    Participant

    Mr. Muriel, Aren’t you reading our posts? We are suggesting what is good and yet you didn’t seem to notice. Aren’t you keen enough to react and say something about to each of our comments instead of just insisting your proposal which for some isn’t good enough because we are thinking of something else. We are studying your proposal and how will it affect us in the future. My answer to these is “not yet” because your proposal needs to be studied.

  • #145950


    Anonymous

    kaya ba nating gayahing ang chinese policy on imitating and selling products? choices of brands of products are to many and so cheap and is every where in china even here in Philippines.

  • #145949


    muriel
    Participant

    Gentlemen, all your comments and opinions here are great …… however, we have heard all these before …….THE QUESTION REMAINS: what”s next?

  • #145948


    ©παςΗ
    Participant

    Low value of peso in the world currency only hurts when we buy imported goods. Stop patronizing the luxury of imported products and we’ll never have a problem. But the problem is when we put a high price tag on our own Pinoy-made goods that people buy locally. Siguro ang dapat muna nating pag-isipan at asikasuhin ay kung papaano pabababain ang presyo ng sarili nating produkto at quality living na abot-kaya ng lahat sa halaga ng piso (local food, shelter, clothing, etc.). If we have low cost products and goods that we buy locally, then we don’t need the dollar because we can sustain our needs with peso and doesn’t have to work abroad to earn dollars.

  • #145946


    Gardo
    Participant

    many times over. IMF debts — our country have gold reserves, treasury bonds, etc. all these can be use to pay debts.Sa palagay ko ho ay nakalimutan nyo ang kahulugan ng “gold reserve”at kung bakit iyan kailangan. Babagsak ang halaga ng Philippine peso kapag wala tayong gold reserve at hindi na puwedeng mag-issue ng bagong pera ang central bank kung walang gold reserve. Turo yan ng Titser ko noong ako’y Grade 6 sa ilalim ng puno ng kamagong sa subject na Social Studies habang kami ay nagkukutuhan ng crush ko. Walang mag-iinvest at lalong walang magpapautang sa atin at hindi natin puwedeng ibenta ang gold reserve para lang may pambayad tayo ng utang.peso is the one that makes life hard …time for a change …..Sabi ng mayayaman Peso is just paper(aba ni la LANG lang!), you can’t fake its value. It is worthless if there is nothing to back it up. The gold reserved counterpart deposited in Fort Knox. Ang Chinese Yuan sa kabila ng mababang halaga idagdag pang pwedeng-pwede naman nilang gamitin ang Hongkong Dollar (dahil probinsya nila ang Hongkong) ay patuloy na ginagamit ng China? Bakit?Also Yen is low in value, but the fact Yen’s value is actually so low Japan should be a poor country which is not the case. Bakit?the country is very much up to date as far as commercialization, etc. if we are going to compare with the western country, much of the goods and services are now imported and some are from the philippines.Ang malaking produktong pang-eksport ng Pilipinas ay mga “hilaw na materyales” para sa paggawa ng produkto gaya ng electronics at computer chips etc. Ini-export ang materyalis ng mura pero Ini-import naman nito ang mga yaring produkto ng “mahal”. Kahit bigas ay ini-import ng bansa na dating numero unong eksporter noong 1970s. sad to say, our export to other countries of the world are humans. Thiis is like the old anglo hunting slaves in the southern africa….Sa tingin ko ay wala namang masama, pag pinagpawisan ng isang tao ang isang trabahong marangal ang perang kanyang sinusweldo mula dito ay marangal. Hindi solo ng Pilipinas ang bahaging ito na sa pagkukumpara ninyo ay napakababa uri na hinalintulad nyo pa sa “Hunting Slave”, Katunayan natalo na ang Pilipinas ng China at Vietnam sa pamurahan ng lakas-paggawa. Idagdag pang ang bumubuhay sa ekonomiya ng Pilipinas sa ngayon maliban sa pangungutang ay ang remittances ng mahigit 9 milyong OFWs. Pero hindi lang ang Pilipinas ang ganito ang kalagayan. Maraming mga bansa sa Ikatlong Daigdig gaya ng Bangladesh, Sri Lanka at Aprika ang umaasa din sa eksport ng lakas-paggawa. At inuulit ko wala namang masama dito.We need to bring the Philippine currency closer to the world’s ANCHOR MONEY.the world entered an age of the floating currency exchange. This means that everyday a nations currency might be more valuable or less valuable than the day before. What determines the fluxuations? Buyers. Countries all over the world purchase other countries currencies, which determines the value. The American Dollar is strong because many many countries buy a whole lot of US Dollars. If investors and buyers decide to stop buying US Dollars, then the value of the US dollar would drop significantly. Some economists argue that a country will intentionally keep the exchange rate low so that buyers on the world market will not purchase the Yen or Yuan for example. You would think that a weak national currency would indicate that this country is poor. Not always the case (China is a good example), the argument is that nations like Japan and China want their currency to be low in value so that other nations (like the US) will buy more Japanese and Chinese products imported. Think about it, if the US dollar is twice as strong as the Yen, than it can buy twice as many Japanse goods. If a computer costs 1,000 dollars in the US, but 1000 Yen in Japan, then you could buy two Japanese computers. Sa magkatulad na halimbawa kong mataas ang value ng Philippine Currency (say 1Php – 1$) walang Importer na bibili ng Raw materials galing dito. Mamamatay ang pangalawang pangunahing bumubuhay sa Pilipinas which is Export. Kung tuloy-tuloy na babagsak ang pandaigdigang ekonomiya sa susunod na mga taon, partikular ang China, Japan, USA, Middle East kung saan naroon ang malaking bilang ng OFWs na pinagmumulan ng Remittances na pangunahing bumubuhay sa Pilipinas, sinasabing guguho daw ang ekonomiya ng Pilipinas. Where do we go from here?It’s Time to bring your dreams into fruition by acting today, This measures you’ve taken early will build up and exceed more than the results you desire. Become an advocate of your noble endeavor. You have the unique opportunity to make a difference in our life and in the lives of others.IT’S TIME!

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