Dolarlization of DR !?

mariaobetsanov

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I have been waiting for this plan to be in debate soon. What does the U S have to gain by this move? Once the economy is control you have its people. During the Spanish american war the intention was to make colonies of Cuba, Puerto Rico and Domonican Republic. Some of my great grandparents where from the states. My grandmother father was waiting for the U S to take over. My granfather mother was the hopeful and they Called him Juan Maria soon be! There rumors runing around that the U S is planing to invade Cuba and these have reach Castro, look at newspaper.
He who control the gold is king. I hate to see our Country become a clone. I believe that we as Dominican should learn to sove our own problems of acountavility within our own system.
 

Tony C

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Jan 1, 2002
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mariaobetsanov said:
I have been waiting for this plan to be in debate soon. What does the U S have to gain by this move? Once the economy is control you have its people. During the Spanish american war the intention was to make colonies of Cuba, Puerto Rico and Domonican Republic. Some of my great grandparents where from the states. My grandmother father was waiting for the U S to take over. My granfather mother was the hopeful and they Called him Juan Maria soon be! There rumors runing around that the U S is planing to invade Cuba and these have reach Castro, look at newspaper.
He who control the gold is king. I hate to see our Country become a clone. I believe that we as Dominican should learn to sove our own problems of acountavility within our own system.

Whoa!!! What websites have you been reading?
There was never any intention of annexing or maiking a colony of the D.R. during the Spanish-American war. If there was it would have happened. During that Time the D.R. was already a independant State. The war was between Spain and the US.
The only one saying that the US is going to invade Cuba is Fidel. He does that every so often when the economy of his Socialist paradise takes a turn for the worse. In other words...very Often.
Has Ecuador Become a clone of the US after Dollarization? Has any other country?
 
Mar 21, 2002
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I would like dollarization to occur ASAP. No more having to change money and a nice look at US prices and DR prices.
 

Escott

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I don't think as recent history has just shown that the DR is responsible enough to have a money printing press. Doesn't matter a bit to me since my income is in dollars but I feel very sorry for Dominicans that make 60 US dollars a month because of fall of the peso.

Prices would become stable simply because they cannot print dollars and from what I read the US would bail out the country from the shambles the recent government put them in.

My uno peso.

Scott
 

Texas Bill

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Feb 11, 2003
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If the DR economy were to shift to the US$ as it's base currency, I'm am of the opinion the US would call the US$6 Billion either an outright AID grant, or, at the very least, a very long term loan which would be easy to repay.
While the US might wish exclusivity in trading between the two countries in certain areas, The US realy doesn't want to make slaves of ANY nation's peoples!
Therefore it stands to reason, that such a move on the part of the US would really be in the realm of an altruistic nature.
I'm reminded of the Marshall Plan following WWII.

Texas Bill
 

jsizemore

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Aug 6, 2003
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Imho

The US will do everything it can to prevent a total collapse of the DR ecomy. " Can We say over loaded boats" When Mexico had a collapse a few eyars back the US was willing to help. It is all about immigration. It is not in the best interest of the US to have the econmy of a neighbor in total collapse.
Also after the Spanish American war when the US annex the phillipines there we fist fights ont he floor of congress. The US is not good at being an Army of occupation and it leaves a bad taste in the US populations mouth. The reality is the DR is an island dependant on imports for most raw materials and manufactured goods. A stable economy means lots of sales to the DR. with the numbers of Dominicans in the US it seems reasonable for the US to want the DR to dollarise so as to stableize. Once the economy is stable then there is more sales to the DR. The distance to the US is minimal and that means easy trade.

John
 
Mar 21, 2002
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Death to the peso, bring on the greenbacks

I would just love to see all those crooks at the money exchange houses, central bank and its shenanigans go outta business. An end to all their tricks and turning the central bank into a museum of corruption where they would take the little kids on trips. Come into AILA and go bout your business without watching the tourists get scammed by skunks. Tourists would know whether they would be getting a ggood deal or not. All those zeroes throws off a lot of folks thinking because they have a whole lotta pesos that they're actually holding onto something.

The hell with national pride and Duarte, Sanchez y Mella. If the truth were known by the DR folk of these 3 they would be vilified instantly. They've been deified by DR revisionists wanting to portray an amicable portrait of power hungry pigs wanting to consolidate land under the guise of national liberation. They are amongst the 3 greatest charlatans the DR has ever had.
 

NALs

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Jan 20, 2003
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First things first!

1. The U.S. did tried to annex the DR in the early 1920s. In fact, the vote came very close! It was a tied between all the senators, but during the vote for annexation the Senator from Montana was late to the voting! As such, the guy eventually made it and voted no. His extra no was all that was needed to NOT ANNEX THE DR. Otherwise the DR would've been. The reason for an attempted annexation lied in A) Samana Bay, the finest bay in the region perfect for a military base B) Location, within a central location easy for monitoring anything going and coming from the Panama Canal and C) an extra 18,000 square miles of Paradise doesn't ever hurt to add.

2. The United States under the Kennedy Administration properly guaranteed Castro that Cuba will never be invaded as long that Castro lived. Of course, that came after the Bay of Pigs ordeal and the Cuban Missile Crisis which Castro asked the Soviet to move the Missiles after the U.S. agreed to not invade Cuba under his rule. If the U.S. invades Cuba, that would be a breach of "contract" and that could lead to some further unreliability with American agreements in the international scene. Despite the U.S. recently sending it's very own United Nations to Hell by invading Iraq illegally, the world is not very happy with the U.S. The best thing for the U.S. to do is wait until Castro kicks the bucket. Besides, he's what 75? No body lives for ever!

3. Onion & Carrots, you must love seeing does hungry kids asking for one peso then! You seem to want to see more of them asking you for money. Here is the most likely scenerio if the Dollar becomes legal tender in the DR. First of all, prices in the DR will become transperant with those in the U.S. Due to the fact that the DR is on an island, the prices for the same thing will cost more in the DR than in the US. A television set that in NY costs $100 will probably cost $150 to $200. The reason is the transport cost (ships and airplanes are the most expensive for of transport for material goods). Also, every Dominican will probably be earning $10 to $20 per week. Their income will likely fall due to competition from other third world nations for foreign investment. So, that means that the income for the average Dominican will decrease, their cost of living will increase much more dramatically than now, and you can kiss your lifestyle good bye. Why good bye, because what ever lifestyle you are living right now in the DR will cost you more under Dollarization than it would have to live that same lifestyle in the U.S! You and I don't want that, now do we? It's more than just nationalism, it's our way of living. Without the Pesos, the DR will not be as fun! Oh, and don't forget that many people are not begging because they got family in NY sending them $50 to $100 per week via Western Union. Under Dollarization, that amount of Dollars will buy less in the DR than in NY. Makes more sense for people to start packing and get on a yola en masse if the DR Dollarize!

4. It's in the best interest of the United States to Dollarize the entire hemisphere it has to. If Latin America end up unified like Europe under one currency one day, that could cause further sliding of the Dollar and in response, a weakening of American might and power. Americans don't want that! Europe unified and the Dollar started sliding, Southeast Asia is about to unify, another blow to the U.S. Dollar because the Southeast Asian currency will be backed by Euro's not Dollars. If Latin America unifies, well I guess it's bye bye to the greenbacks and hello to the Euros.

The Dominican Republic's problems will not be solved under Dollarization. If anyone think that corruption will end under Dollarization, don't kid yourself. Look at Puerto Rico, being a US territory and every year leaders in their governments are charged with being corrupt including the former governor and the current governor of Puerto Rico Ms. Calderon. Also, if you want to kill the Dominicans and make Dominicans living abroad less productive to their homeland by devaluating their remittances purchasing power in the DR, than its better for you to pack your bags and never come back to the island of Hispaniola. The denizens of this island will be much better off with out that!

Um, here is a little extra. Duarte, Sanchez, and Mella as thugs? I guess George Washington was another thug fighting for the U.S. independence when the Land was never given to them by the natives. Besides, he hold slaves too, very inhumane. Also, Thomas Jefferson writing the Bill of Rights of the United States stating that All men are created equal while enslaved blacks served them tea and coffee in the same room while such article was being ratified!! You want to talk of villians!!! So please, stop this stuff. Duarte, Sanchez, and Mella were the greatest men for the DR. If it wasn't for them you would probably not be living today and the natural beauty of the DR would have been as saden and barren as that of Haiti!! If to you a person that fights for his freedom and rights is a villain, then I guess you are against every society on earth!
 

Tony C

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Nal0whs said:
1. The U.S. did tried to annex the DR in the early 1920s. In fact, the vote came very close! It was a tied between all the senators, but during the vote for annexation the Senator from Montana was late to the voting! As such, the guy eventually made it and voted no. His extra no was all that was needed to NOT ANNEX THE DR. Otherwise the DR would've been. The reason for an attempted annexation lied in A) Samana Bay, the finest bay in the region perfect for a military base B) Location, within a central location easy for monitoring anything going and coming from the Panama Canal and C) an extra 18,000 square miles of Paradise doesn't ever hurt to add.
The Original poster stated that the US Wanted to make the DR a colony during the Spanish American War
Nal0whs said:
2. The United States under the Kennedy Administration properly guaranteed Castro that Cuba will never be invaded as long that Castro lived. Of course, that came after the Bay of Pigs ordeal and the Cuban Missile Crisis which Castro asked the Soviet to move the Missiles after the U.S. agreed to not invade Cuba under his rule. If the U.S. invades Cuba, that would be a breach of "contract" and that could lead to some further unreliability with American agreements in the international scene.
I have tried to expalin that to people many times
Nal0whs said:
Despite the U.S. recently sending it's very own United Nations
We own the UN?
Nal0whs said:
to Hell by invading Iraq illegally
How was it Illegal? That is one silly statement
Nal0whs said:
the world is not very happy with the U.S.
Jealous is a better discription
Nal0whs said:
3. Onion & Carrots, you must love seeing does hungry kids asking for one peso then! You seem to want to see more of them asking you for money. Here is the most likely scenerio if the Dollar becomes legal tender in the DR. First of all, prices in the DR will become transperant with those in the U.S. Due to the fact that the DR is on an island, the prices for the same thing will cost more in the DR than in the US. A television set that in NY costs $100 will probably cost $150 to $200.The reason is the transport cost (ships and airplanes are the most expensive for of transport for material goods). Also, every Dominican will probably be earning $10 to $20 per week. Their income will likely fall due to competition from other third world nations for foreign investment. So, that means that the income for the average Dominican will decrease, their cost of living will increase much more dramatically than now, and you can kiss your lifestyle good bye. Why good bye, because what ever lifestyle you are living right now in the DR will cost you more under Dollarization than it would have to live that same lifestyle in the U.S!
Isn't that what is happening now? The DR Peso is linkd to the US dollar. Isn't inflation rampant right now? At least under Dollarization you won't have mega inflation like you do when the Peso devalues
Nal0whs said:
You and I don't want that, now do we? It's more than just nationalism, it's our way of living. Without the Pesos, the DR will not be as fun!
Screw the economy. I want cheap booze
Nal0whs said:
4. It's in the best interest of the United States to Dollarize the entire hemisphere it has to. If Latin America end up unified like Europe under one currency one day, that could cause further sliding of the Dollar and in response, a weakening of American might and power. Americans don't want that! Europe unified and the Dollar started sliding, Southeast Asia is about to unify, another blow to the U.S. Dollar because the Southeast Asian currency will be backed by Euro's not Dollars. If Latin America unifies, well I guess it's bye bye to the greenbacks and hello to the Euros.
The Euro will soon be relegated to its proper position. Somewhere between the yen and the Yuan.
 

NALs

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Tony C, next time use spaces between the quotes and you're answers. For some reason they are all squish up together, hard to read. However, let me do my ever expanding responses...

1. I know what the original poster posted. I was just clarifying the issue because sooner or later someone would have moved the conversation towards the DR and its attempt annexation by the U.S. It was a pre-emptive strike, if you will.

2. The U.S. doesn't really own the U.N., but the US was very influential in its creation, it is based in the real capital of the US (NYC) (I consider NYC the real capital because everything of importance is there, except politics). And the U.S. is one of the permanent members with veto powers. That gives the US a sort of more legitimacy to a sense of "ownership" over the UN than any other country, including the other countries with veto power.

3. In my opinion (and many others) the invasion of Iraq is illegal because it was conducted against or with out the approval of the UN. The UN is the international enforcer of international law or at least it seems to act like one and the US violated this international law of getting approval from the UN before doing anything. In addition that the weapons have not been found just further aggravates this violation since Bush was talking about weapons up to the day the bombs began to fall. Please lets not elaborate on this point because it might cause the thread to close, but if you must say something than type it.

4. The world was jealous of the US before Sept. 11. After Sept. 11 the jealousy was destroyed in most places with many countries being pro-American. Then we invaded Iraq and that feeling of jealousy began to resurface with some anger. Thus, the world is angry with the US right now.

5. The one thing that really is clinging me to keep supporting the Peso is the strength that it gives to Dominican expatriates helping their families with remittances. Dollarization will cause a decrease in remittances purchasing power in the island, causing poverty rates to increase even more and probably causing many families to literally go hungry. I do understand all other points towards dollarization and they make sense, but the diminishing of remittances purchasing power is like puting a knife in the country and then twisting it while its still in the wound.

6. You're current lifestyle in the DR is much better than in the US because of the exchange rate. If material things and services begin to cost more in the DR than in the US in US Dollars, you will be among the first to leave, I assume. Why live in a country that is more expensive than the US, right? That is what will happen in the DR, much more expensive lifestyles in US Dollars. Right now, life is expensive in the DR, but in pesos not dollars. Big difference!

I hope you're right about the Euro, but the samething was said when the Dollar was beating the crap out of the British pound and look what happen! And that was before globalization!!
 

frank alvarez

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Don't count on it

The Euro will soon be relegated to its proper position. Somewhere between the yen and the Yuan.

Don't count on it! Europe has been getting its act together and with unification has become a power to rival the good old USA. The only thing that may be detrimental in the future is expanding the union to bring in all these countries that were satellites of the old USSR.
 

Texas Bill

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NalOws--Correct me if I am wrong, but did not the Dominican government request the annexation by the US in 1920??

Your #1) - According to my recollection, the International Conference in San Francisco was the primary driving force which eventually chartered and organized the United Nations. Europe and Asia were in shambles insofar as their infrastructure was concerned; thus, the US became the logical place to base such an organization. New York was chosen because of it's immediate access to the elements of housing, international atmosphere, ecomonics/finance, and relative security for the representatives of the participating nations. And, Yes, the US wanted the organization to be based there and took great pains to convince the participants to vote accordingly. This was a democratic action and not forced upon anyone.

Your #2) - I can't really argue that point with you. Let's just say that I will accept it with reservations.

Your #3) - I believe that the evidence that has been uncovered reveals that the Bush Administration was mis-informed on many fronts. I will not attempt to rationalize their actions, except to say that I believe they acted on what they considered to be reliable information and intelligence sources at the time. The media has done a very good job of undermining the incumbent administration. I won't say that Bush is without fault, but I won't blame him entirely either.

Your #4) - The jealousy toward the US is a predominent occurrance and is accepted, however unjustifiable.

Your #5) - The US$, whether converted into RD$, or used as direct payment will still buy the same thing it does today. I convert my US$ to RD$ each month. Last year, I could buy 125 lbs of rice for RD$500.00 (At the mill). Today that same sack costs me RD$1700.00 (at the same mill). That is the inflation caused by the Central Bank's unmittigated stupidity is printing so much unbacked money. Eliminate that problem by dollarization and you'll have a more stable economy.
Your inferrence that the US$ being remitted by expats will buy less is not valid in the light of reality.
The main problem is where to get the US$ necessary to back the conversion.

Your #6) - Yes, item purchased that must be shipped in will cost more than the same items on the market in the US. You have to pay for the shipping costs and the import duties. However the price won't go up on these items because you are now paying those self-same costs in RD$. It's a wash-out.

The driving force on the US$ is the result of the Iraq war. That has cost plenty aand has increased the US National debt way out of proportion. The increases in the budget have not been confined to the Defence budget by any means. Other increases have had an impact on the overall economy and the current political retoric isn't helping any.

Texas Bill
 

NALs

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Responses to Some of TB's points...

No, the DR did not asked for annexation in the 1920s. The DR was being offered by President Santana and Dictator Hareaux, both were in the 1800. The 1920s deal was fed by American interest groups that fell in love with the island's beauty and the cash cow it could have become.

The other point is about the US$ purchasing power deal. Everything will go up in prices. You obviously get it that imported items will go up, that's good 'cause it saves me half the explanation. However, local products will also go up in price because of the price transperancy tendency. It's similar when a government imposes a tariff on a foreign good to give domestic companies an edge, but what ends up happening is that the foreign good cost rises and the domestic companies rise their prices too to increase their revenue. We saw a good example of that in the U.S. automotive industry with Japanese flooding the market with good quality vehicles at a higher price due to the tariff and American car manufacturers raising the price of their cars which were of less quality. Today they are better, I'm talking about the 1970s here. The samething ends up happening in all market levels. I have also noticed that there are lots of things in Puerto Rico and in Hawaii that cost more than in the Mainland USA. There are somethings (like cars) that cost more in the DR, but that is mostly due to taxes and import tariffs. If the DR Dollarize, those cars will cost more in Dollars, more so than now.

Of course, all of this will impact the lifestyles of all the expatriates in the DR, but mostly it will impact the everyday Dominican that you see in the DR. They will continue to be earning the dismal incomes that they are earning now in pesos, except it will be it's equivalent in Dollars. Due to competition from other countries, their wages will have to fall if the DR wants to keep the foreign companies in the country. Also, because of the island factor, remittances sent by Dominicans from abroad will buy less in Dollars in the DR than in NY. That is not good. Right now Dollars buy more in the DR than they do in NY. Under Dollarization it will be the opposite. Not good at all.
 

Texas Bill

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NalOwhs - Have you EVER stopped and asked yourself just how many Dominicans are employed by the "Foreign" companies as compared to the number employed by Dominicans? I don't think so!
You post as if the "Foreign" companies were the ONLY ones who employ people and are soley responsible for the low wages paid!
My observation has been that Dominicans pay FAR less than their "Foreign" counterparts, so where is your gripe??
I have noticed this in many of your post and think that you have your "facts" skewed.
Just remember, "foreigners" are not the only employers in the DR and usually pay more than do Dominicans.

Texas Bill
 

NALs

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I know that...

but foreign companies tend to pay less than what they otherwise would have. What other reason are they in the DR to start with, unless they are actually offering their services to the DR market, but most are using the country as a cheap base to re-export and sell the stuff at phenomenal prices.

I'm aware how low Dominicans tend to pay other Dominicans.

But that is not my point in my previous post. My point is - and this is the exact reason why I'm against Dollarization - that by Dollarizing foreign Dominicans won't be able to help their island Dominicans as much as they are doing so right now. Considering that nearly half of all poor Dominicans are on Remittance welfare, that would be detrimental to the DR. Like I said on my first post, the Middle Class and the High Class won't be much hurt by this. The ones that will suffer the most are the poor with their expatriated Dominicans not being able to help their Island Dominicans because a dollar would buy more in NY than in the DR. That is the sole reason why I'm against the Dollar. All other reasons makes sense. Oh yeah, and I do like to see Duarte on my hand when I'm in Dominican Republic rather than seeing George Washington!

I also understand that remittances are not very good because they are a form of welfare system, but its better than nothing. Dollarizing will reduce the effect of remittances, unless Dominicans living abroad would like to send the amount in Dollars needed to live in the DR, oh wait, they are struggling already in NY so how can they take care of their island friends if their island friends lifestyle cost more than their own?!

BTW, the reason why I focus with foreign investors in the country is because the Dollar issue is tied to the foreign exchange of things. If you want to talk about how low Dominicans pay other Dominicans, I'll be glad to start another thread with you because I have my issues with that also!
 

mariaobetsanov

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The occupation 0f the begining of the Century

The US ocupied Dr due to foreign loans,the banks had loan DR government monies and the US government inbade, desarmed and basicly became a government of ocupation. My grandfather was jailed at this period, for a gun he had owned. He had to stay in jail until a memer of his family when out and purchase a gun to hand in. That what happens to a comquered people.
 

Tony C

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I don't know about you guys but I got all of my money out of the D.R. years ago for 2 reasons.
1. PRD was elected
2. The cost of living was higher in the D.R. than the US. My Standard of living at least. So you main axcuse against dollarization doesn't hold water.

BTW Of thread here but NaL They Confirmed the Sarin/Nerve Gas in Iraq! Bush was right! Don't give me any lame excuses like it was one piece that was over looked or it was planted by the US. One Drop is enough!
Also as a soverign nation the US is not under any legal control of the UN. The US's membership is purely voluntary. SO are any agreements. Doesn't matter anyway because the US invaded Iraq following a UN mandate.
 

NALs

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Bush was not talking about Saritin. He was talking (and I'm quoting him from his UN address prior to invading) "Saddam Hussein bought uranium from many countries in Africa and had piles of weapons of mass destruction" also, when Collin Powell tried to justify that he showed satelite pictures of "laboratories" where the weapons and the chemical agents were being made and stored. I'm not questioning Saddams usage of those weapons, of course he had them and used them, but Iraqi scientist keep saying that Saddam got rid of them in the mid-1990s, you know, when the UN was peacefully making sure that Saddam got rid of them. Now we find one tiny shell with some traces and oh, Bush was right!! Well, date that peace please. If it turns out to be from the 1990s then I guess that doesn't count. But enough about Bush and this war! It doesn't matter what any Iraqi, American, or whoever think about it, Bush invaded and the US is going to do what it wants no matter what, end of story!

Well then, Fine! Let's Dollarize. All I don't want to hear is the same pro-dollarization people either complaining or not giving answers for why the Dollarization did not go the way they said it would. It's funny how Ecuador's pro-Dollarization group doesn't open their mouth lately. Just interesting. Oh yeah, prior to Dollarization whatever Ecuadorian wanted to enter the US simply crossed Central America and tryied to cross the US-Mexican border. Well, just last week, immigration has confirmed that most of the people crossing the border are not Mexicans anymore, but central Americans (mainly from Guatemala (Dollars)) and they have noticed a surge in migration from Ecuador. Not just that, but Ecuadorians were found off the coast of Acapulco Mexico in a boat that they Highjacked in Ecuador and were trying to steer it to the Coast of California! Why is this happening with more frequency now that they have Dollarize? Because their family from abroad can't send them a remittance check that will cover even half of their expenses. Pitty, since Dollarization is soo good!
 

MrMike

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Nal0whs said:
My point is - and this is the exact reason why I'm against Dollarization - that by Dollarizing foreign Dominicans won't be able to help their island Dominicans as much as they are doing so right now. Considering that nearly half of all poor Dominicans are on Remittance welfare, that would be detrimental to the DR. Like I said on my first post, the Middle Class and the High Class won't be much hurt by this. The ones that will suffer the most are the poor with their expatriated Dominicans not being able to help their Island Dominicans because a dollar would buy more in NY than in the DR. That is the sole reason why I'm against the Dollar. All other reasons makes sense. Oh yeah, and I do like to see Duarte on my hand when I'm in Dominican Republic rather than seeing George Washington!

I also understand that remittances are not very good because they are a form of welfare system, but its better than nothing. Dollarizing will reduce the effect of remittances, unless Dominicans living abroad would like to send the amount in Dollars needed to live in the DR, oh wait, they are struggling already in NY so how can they take care of their island friends if their island friends lifestyle cost more than their own?!

All of your posts in this thread are very frustrating to read because they are so long-winded and they show you have difficulty grasping the relationship between cause and effect.

The remmittances would not buy "less" they would just stop increasing in value every couple of days. Also, they would be less necessary if inflation was brought down to sane levels i.e. a persons salary bought more or less the same amount fo food from month-to-month. (unlike the current situation)

Items like TV's and Computers already cost at least 150% of what they would cost in the states, both in dollarized and undollarized stores. Dollarization would change nothing there, only stabilize the working Dominican's access to the cash to pay for it. (prices would not have to be readjusted in pesos daily like they are now)

You can still hang pictures of all your Dominican heroes around if you want to look at them instead of George Washington, but if you want stable buying power you'll have to stack your money face down and pretend it's someone else on the front. You can console yourself knowing the portraits of your beloved Tigueres are not being crinkled and covered with sweat.
 

Tony C

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Nal0whs said:
Well then, Fine! Let's Dollarize. All I don't want to hear is the same pro-dollarization people either complaining or not giving answers for why the Dollarization did not go the way they said it would. It's funny how Ecuador's pro-Dollarization group doesn't open their mouth lately. Just interesting. Oh yeah, prior to Dollarization whatever Ecuadorian wanted to enter the US simply crossed Central America and tryied to cross the US-Mexican border. Well, just last week, immigration has confirmed that most of the people crossing the border are not Mexicans anymore, but central Americans (mainly from Guatemala (Dollars)) and they have noticed a surge in migration from Ecuador. Not just that, but Ecuadorians were found off the coast of Acapulco Mexico in a boat that they Highjacked in Ecuador and were trying to steer it to the Coast of California! Why is this happening with more frequency now that they have Dollarize? Because their family from abroad can't send them a remittance check that will cover even half of their expenses. Pitty, since Dollarization is soo good!

Ecuador's and Guatemala's economic problems are not the fault of Dollarization. It is the fault of Corruption and ridiculous economic policies. If Dollarization is the fault then why is Argentina's and Peru's economies in the toilet as well? Don't say that Argentina dollarized. They Didn't. They just pegged their offical exchange rate at 1 to 1. A sure path to a economic disaster.

BTW I sure do remember Bush and Powell talking about Chemical weapons as well. I am not graced with your selective memory.