Dollarization

[Jersey Devil]

After reading the item in today's DR1 news, I was
wondering where some of my fellow posters stood
on making the dollar the official currency.
Pro or con?

JD

 

[ERICKXSON]

Jersey the Dominican Economy is already Dollarized only fools don't see it, take a look at food items things that shouldn't go up goes uu everytime the dollard make a move however when it seldon goes down food prices stays up.

(i'm opening a COLMADO chain very soon) lol!

 

[XanaduRanch]

With the economy tied so closely to the US economy, so many imports, it's impossible not to be dollarized already. The monopoly money the peso has turned into just gives the government the illusion of control and a little float time to hire no-show workers for the next election as I see it.

 

[Criss Colon]

For personal reasons I want no $$$$$ization!

I have a pension in US$s.At the present exchange rate,I am "Ahead Of The Curve"!My Dominican salery is just for show now! But my dollars are going a really Looooooooong way!!!
Cris CCCCCCCCCCCCCCCCCCCccccolon

 

[XanaduRanch]

I am with him ...

I agree. As long as the peso keeps going down against the dollar, everyone with dollars makes out. Yes, prices in Pesos go up. But there's a long lag time that means extra spending power.

Two for one Viagra, eh, CC?

 

[Texas Bill]

Yep! The dollar goes a loooooooooong way!

However, comes the day of rekoning, when Dominicans start demanding payment in dollars at US wage rates!
Then watch the fur fly!!!

HarHarHar!!

That happens and I just left!!

Texas Bill

 

[samiam]

Its all relevant
Con: I prefer saying I make RD$ 10,000 a month rather than $285. I dunno, ten thousand kinda sounds less pathetic.
Pro: I prefer to say I pay US$57.00 for the energy bill than I pay RD$2,000 de lu.Fifty seven bucks sound a little less significant that two thousand pesos.

Having the peso around is appealing to people who earn in Euros or dollars and finance themselves in RD$. You can stretch out money further.
ie.: To purchase a truck I needed, I took a loan for RD$300K in November which was roughly US$13,800.00 at a 21.7 x-rate. To this day, I saved over US$5,000 since those RD$300K translate barely to US$8,000 at a 35 x-rate. I love that truck!!

Dollarization is a long unofficial process that has already begun. Several basic aspects of the the economy here are already dollarized. Real estate for instance is, for the most part, dollarized. Now a days you go out to buy a car and dealers are quoting in dollars, the same goes for computers, art and other stuff. If you go to a hotel, you think in terms of dollars.
I vote to keep the peso around as long as possible. My dollars are stretching out further. They keep going and going....:bunny:

 

[gallorojo]

As most have already stated, de facto dollarization already exists. Thats why the US barks and DR jumps.....it can be solved though, we just need politicians with the cojones to make a move and stand up for OUR interests rather than American ones. If Juan Bosch would have not been overthrown by the Yanks, DR would be a very different place today my friends!

 

[Escott]

As most have already stated, de facto dollarization already exists. Thats why the US barks and DR jumps.....it can be solved though, we just need politicians with the cojones to make a move and stand up for OUR interests rather than American ones. If Juan Bosch would have not been overthrown by the Yanks, DR would be a very different place today my friends!

Sheesh, the only thing your DR polititians can and do is line their own pockets. Any blind man sees that. They couldnt give 2 shits what the US does unless it means more money for them.

OUR interests... Now that is the biggest joke I have ever heard.

 

[gallorojo]

Dominican politicians are corrupt, no one denies that, and there is a lot of mismanagement of public funds, bribery, its all there....

The politicians don't care about the US unless it is a profit for them, and thats exactly why the DR follows like a little puppy whenever the US offers them a loan, a grant, aid, whatever.....Thats how US foreign policy works, allies in the third world are bought, in exchange the US lines their pockets and ensures that they keep power....

"OUR interests" is not a joke......I'm optimistic, people are fed up with things and Latin America is like a time bomb, and its starting to blow.....eventually one of 3 things will happen:

1-The governing oligarchy will make changes in order to appease the population, save their positions, and prevent a popular uprising.

2-Protests, riots, and maybe even a popular uprising will change things, I truly doubt peaceful change will exist.....elections are only worth something where you can actually change the system.....only when your vote can change something, not merely choosing between oligarch A and oligarch B.

3-US military and economic aid will ensure that the oligarchy has the resources to maintain its grip and continue to serve foreign interests.


I think all 3 of these are likely..... But yeah, dollarization is a problem, thats why the South America needs to rally around Brazil as a power able to balance things out, Mercosur, the Andean Market, things like that help counter dollarization........the same way the EU does it, they're just more evolved, but Brazil has a similar economic plan to the European Common Market....I think it could really save Latin America if all of the countries get into it..... It would free the smaller countries of American hegemony.

 

[Texas Bill]

Gallorojo'

Do you really think that the SA countries can do without either Euros or Dollars?

Can you tell me who has the heavy industry to support evolvement into the 21st century?

Who has the economic wherewithal to promulgate and extend the economic growth necessary for complete independence from the world community?

You can rant and rave all you want to with your socialistic inuendos and disparagements against the economic power of both the USA and Europe, but in the long run it has been the gross mismanagement of the economic factors affecting your Spanish speaking countries that have been the real problem; not "yanqui imperialism" as you would have us believe.

Intervention by the US government has taken place on several occassions and I don't profess to applaud such. In each case, however, such intervention has resulted in stabilizing the internal political mechanisms of the countries involved.

If you can cite the facts (not the inuendos) then maybe people would be a little kinder to your posts. Keep on the way you have been going and we'll just give you the "cut direct".

Texas Bill