Let this be a warning to all Dominicans, foreign investors and international lending agencies. This is only the latest chapter in non-payment of Bonds by the DR government, in essence, if one looks back, the Dominican Republic has never in the last 40 years(Since Trujillo's Era)paid back any type of financial bond either on time, or at all.
It is common knowledge, that there are people who are still trying to sell government certificates and bonds issued by the DR government dating back to the late 60's for as low as 10% of their value to a least get something for it!
The only government that paid its financial obligations was Trujillo, who even has silver currency(dollars,fifty cents,quarters, dimes and nickels) and was one one of the few countries in the world that boasted of having a penny(minted in pure copper)of equal value to the dollar. In Fact there was even gold money!
Today's currency is all paper and cheap tin/aluminum coins not worth their value either in dollars or gold. That is the chance we are taking with these governments from the last 40 years. THE WORST IS YET TO COME!!
Expect $70 a gallon gasoline prices soon! A kilowatt hour of $5.00, Platanos at$10.00 each, a Water bill of $10 a cubic meter, newspapers at $25 an issue and Sundays $50(Already el Siglo newspaper on Sundays is being sold by an Exxon gas station on Churchill Avenue for $15, when its sticker price is $10)a Burger King Combo $150!! Codetel should be asking us soon for a basic $400 phone bill plus $0.50 a minute additional. In fact, very quietly they have eliminated the basic of $150 to all new customers and forcing people to take a $300+ plan. The VIP plan should soon hit $1000 plus taxes.
Can any one dare disagree with me that by year's end the dollar will be at $19.25 minimum ? Let me have some takers. Or that inflation will continue to be double digit.. like it is now..even though the Central Bank continues to lie to the people saying it is under.
