Ha! you have on your own provided a very valid reason why a sovereign nation should/could change its currency to USD..............Did you mean it?
- Thread starter JasonD
- Start date
Why doesn't the DR adopts the USD as its currency?
Ha! you have on your own provided a very valid reason why a sovereign nation should/could change its currency to USD..............Did you mean it?
ding ding ding...we have a winner. Thank you Sir, great reply; are you an economist?
This is just one of the many reasons in the pot.
Bluceo,
Could you address the bolded/underlined portion, thanks
No I'm not, I'm from Western Europe, but thanks for asking... Not sure what does this have to do with the topic on this thread though...
There would no longer be a need to print their own money and I may be wrong
but the thought of giving up their Central Bank controls may not appeal to some
Dominicans either.
Wrong. Ability to control currency is mainly used as a measure to affect export competitiveness and not to steal from people. That may be a secondary, not denying possibly welcome, effect.
You can peg a currency as well to US Dollard, as Ecuador does and as Argentina did. Argentina did not do so well, and as a result, when it all came down in 2001, it went through some very bad years economically followed by a decade of very and political situation coming close to what became of Venezuela during Hugo Chavez. Dollarizing or Euroizing the economy only makes sense if there is uncontrolled inflation.
No, it would most likely not benefit the country. Did you study at least Macroeconomy 101 in college?
JasonD you should first study something about Macroeconomy, currency exchange, economic policy, stuff like that... You know, something, so you don't sound so silly (so as not to say stupid and economically uneducated) because what you have produced in this thread and arguments you made (which were not really arguments, it was what you thought were arguments, but they were just products of your wild imagination), well all of that would make even a first year college student of some economic or business related degree roll his eyes and say.. Weeeellll ... Or in Spanish... BUEEEENOOO
JasonD you must be one of those 'muricans who thing the whole world revolves around the USA and USD is the greatest thing invented since the sliced bread. I got a surprise for you, but you my want to sit down before continuing reading .... it ain't so.
You sound very angry, angry folks do not think straight and I have no desire to entertain your uncontrollable emotions. I wish you the best however :cheeky:
The OP is in regards to countries changing their currencies, you mentioned being from a country which lost their currency to the Euro; Kosovo is a country that lost its currency to the Euro, hence my reply.
Well and I don't have time to entertain an economically clueless person... Go grab macroeconomic policy books at your local library, then we can continue the conversation. You may come back a changed man though.
There were compelling reasons and circumstances why El Salvador, Ecuador, Kosovo etc. adopted other currency. None of those reasons are present in the DR.
Jason,
This entire thread is a hypothesis and at the most imaginary ;
As a consequence you are getting ''opinions'', all of which are quite valid... since that is the (hopefully) the intent.
If I was a Dominican I would likely think this is yet another invasion of USA to further control our country.
I live in El Campo and I do not see people starving .... but I do see them marching on Independence Day with Pride and purpose.
But, I did see a program on USA TV about the homeless people in the States who are on food stamps; Welfare and soup kitchens are necessary for sustenance of the more than a million homeless in that country.
What is amazing is that they are using the ''USA Currency''.
My opinion is that given time the Dominican Economy , which by the way is growing faster than the Canadian or US Economy ,
will more that sustain the value of the DRPeso. ANd all will be well. Only my humble opinion.
Russell
This entire thread is a hypothesis and at the most imaginary ;
As a consequence you are getting ''opinions'', all of which are quite valid... since that is the (hopefully) the intent.
If I was a Dominican I would likely think this is yet another invasion of USA to further control our country.
I live in El Campo and I do not see people starving .... but I do see them marching on Independence Day with Pride and purpose.
But, I did see a program on USA TV about the homeless people in the States who are on food stamps; Welfare and soup kitchens are necessary for sustenance of the more than a million homeless in that country.
What is amazing is that they are using the ''USA Currency''.
My opinion is that given time the Dominican Economy , which by the way is growing faster than the Canadian or US Economy ,
will more that sustain the value of the DRPeso. ANd all will be well. Only my humble opinion.
Russell
Rusell,
Bud I've learned to respect you thus is tough to even have a different opinion other than the one you have. With that being said, and as you described, opinions are just that. You still one of my favorites posters here BTW.
There are quite a few European countries that lost their currency to Euro, but yet again, I fail to see how my origins have anything to do with this thread... Yes, I mentioned being from there, but you continued with an irrelevant question...