So lets say we Dollarized already!
Onion and Carrots, you're right, no more artbitrage for Central Bankers and independent day traders! But, funds will continue to "disapear" (like in our neighboring Puerto Rico). In addition to that, many folks tend to only see this on their terms. Yes, when you exchange dollars for pesos, the person that receives the pesos has the same purchasing power for the imported goods. Domestically made goods (platanos, Arroz, etc) are still cheaper in the DR than in many other places, which gives that remittanee more purchasing power of the essential in his Dominican life, Arroz con Pollo.
Of course, we are assuming that we got Dollars. So, that Arroz and Pollo and Platano that before cost less in Dollars in the DR than it cost in many other places, now cost at par to what it would have cost in the U.S. However, the income of this Dominican remains the same as before! Due to taxes and things of that nature, the Platano will cost more than in the U.S. in the American hard currency. That means, that if his cousin send him some money when the Peso was in circulation, money that helped in the weekly grocery shopping, now his cousin will have to increase the amount sent to cover the same percentage of cost of the same Platano. Most expatriate Dominicans won't or don't want to send more hard cash when they themselves are a bit tight on with their living in NYC. How will this Dominican on the island cover the expenses of his weekly grocery now? I guess he's going to have to eat a bit less? Maybe...
All of you want Dollarization and I clearly understand why. I don't know what other motives many of you might have that you are not showing (you know, many of you being Americans). Maybe the DR should just give up!! Lets join the USA, lets accept the Dollar. Let's pay taxes to Uncle Sam!! Lets sing the red white and blue with the eagle. Maybe that's what we should do!! Let's start to listen to more Hip Hop and Rap, lets start watching more Jerry Springer. All dark skin Dominican women start getting an attitude. All the Sankies and Hookers, start charging in Dollars for your services!! Let's pay property taxes to uncle sam at the exorbitant rate that they tend to be in U.S.
GIVING UP THE PESO IS A FORM OF GIVING UP SOME SOVEREIGNITY. FIRST THE PESO GOES. THAN THE MILITARY. THEN THE FLAG GETS MODIFIED TO RESEMBLE THAT OF PUERTO RICO OR SOMETHING. THEN ALL OF THOSE AMERICAN EXPATRIATES HIDING FROM THE IRS WILL BE PROSECUTED. BEFORE YOU KNOW IT WE WILL BECOME A COMMONWEALTH AND THEN WE ARE A STATE. THE LARGEST AMERICAN MILITARY BASE WILL PROBABLY GO UP IN SAMANA. THEN WE ARE GOING TO HAVE SOME REDNECKS FROM RURAL AMERICA COMING TO THE DR WITH THEIR (SOME OF THEM AT LEAST) WHITE SUPREMASY THINKING AND BEFORE YOU KNOW IT, DOMINICANS ARE GOING TO BE TARGETS OF RACIAL MOTIVATED VIOLENCE (SOMETHING THAT IS HAPPENING IN HAWAII, THOUGH IT'S NOT WIDESPREAD). LET'S GIVE UP!
BUT BEFORE THAT HAPPENS, I WILL FIGHT TO THE END. IF THE ISSUES REMAIN CIVILIZE (LIKE RIGHT NOW) I'LL FIGHT IN A CIVILIZE MANNER TO MAINTAIN DOMINICAN SOVEREIGNTY TO THE FULLEST IN GOOD TIMES AND IN BAD TIMES. IF THE FIGHT GETS UNCIVILIZE THEN UNCIVILIZE IT WILL BE. BUT THE DR WILL REMAIN INDEPENDENT IN ALL ITS FORM UNTIL THE DAY I DIE, END OF DISCUSSION. THE PESO SHALL STAY!
HOWEVER, IF A NEW CURRENCY IS WHAT PEOPLE WANT, THEN THE U.S. AND THE REST OF LATIN AMERICA SHOULD SIMPLY CREATE ONE THAT DOESN'T SHOW PREFERENCE TO ANY COUNTRY. SOMETHING LIKE THE EURO. LIKE I SAID BEFORE, I WANT MY DUARTES' WHERE THEY BELONG AND I WANT MY WASHINGTONS WHERE THEY BELONG!