Cabinet pores over report on preliminary IMF talks

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">

why does dollarization have to be based on the US dollar? </div></div>Maybe Because That is what th ewhole pronciple of dollarization is based on?? </div></div> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">

not really ....they could &quot;dollarize&quot; tot he pound ..to the euro..to the EC$ even the TT dollar </div></div> What do you meanby dollarize to thse currencies?
what is dollarization to you.

Yes tell me in kindergarten language.
I am that confused with you rr interpretation

[RichD]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">

why does dollarization have to be based on the US dollar? </div></div>Maybe Because That is what th ewhole pronciple of dollarization is based on?? </div></div> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">

not really ....they could &quot;dollarize&quot; tot he pound ..to the euro..to the EC$ even the TT dollar </div></div> What do you meanby dollarize to thse currencies?
what is dollarization to you.

Yes tell me in kindergarten language.
I am that confused with you rr interpretation </div></div>

in the simplest terms..dollarization is the use of a foreign currency in place of the domestic currency.

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">

why does dollarization have to be based on the US dollar? </div></div>Maybe Because That is what th ewhole pronciple of dollarization is based on?? </div></div> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">

not really ....they could &quot;dollarize&quot; tot he pound ..to the euro..to the EC$ even the TT dollar </div></div> What do you meanby dollarize to thse currencies?
what is dollarization to you.

Yes tell me in kindergarten language.
I am that confused with you rr interpretation </div></div>

in the simplest terms..dollarization is the use of a foreign currency in place of the domestic currency.

What is the objective of doing so?
It really don't make any sense to me.

[Tuff Gong]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">China, South Korea, Japan,UK, Germany, France, and the EU.
The Jamaican currency i swirth more thn the Japanese currency. </div></div>

The Jamaican currency is worth more at face value but useless as trading instrument. It is also not representing an economic powerhouse as 1/1000 as powerful as any one of these countries individually much less combined.

[RichD]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

to piggyback ont he stability of another currency

to remove the pressure of exchange rate fluctuations on the economy.

some of the main reasons for wanting monetary policy control are no relevant in Jamaica since the central bank is not really able to exercise this and is operating more in a reactionary mode.

[Amberal37]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Simply because you are not adding to the knowledge in the thread. You have absolutely no knowledge about the reality of economics in Jamaica. You pick up stuff off the internet and do not realize that those figures are made up of inputs that you have absolutely no knowledge of. you treat economics a s iof it is a mathematical exercise that has no relation ship to anything but the paper it is written on.
As I said before this is not school. It is real life. You can't expect a mental exercise to achieve physical goals. </div></div>

You are perhaps right...I should have started with the A..B..Cs,1..2..3s my fault...

One consolation for me is that you are NOT part of the political process, otherwise the country will definitely be crocked!!!


<span style="font-size: 11pt"><span style="font-weight: bold">Example...I mean is this dialogue for real???</span>
</span>
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">

why does dollarization have to be based on the US dollar? </div></div><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Maybe Because That is what th ewhole pronciple of dollarization is based on?? </div></div>

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">not really ....they could &quot;dollarize&quot; tot he pound ..to the euro..to the EC$ even the TT dollar </div></div>

<span style="font-weight: bold">ETA: oh, and good luck in trying to secure your 24% interest rate from the JA government... </span>

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">China, South Korea, Japan,UK, Germany, France, and the EU.
The Jamaican currency i swirth more thn the Japanese currency. </div></div>

The Jamaican currency is worth more at face value but useless as trading instrument. It is also not representing an economic powerhouse as 1/1000 as powerful as any one of these countries individually much less combined. </div></div>
exchange rate of a currency has no relationship to the wealth of a country that is why ot i snot used as a toll by which thsiis measured.

[Tuff Gong]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">China, South Korea, Japan,UK, Germany, France, and the EU.
The Jamaican currency i swirth more thn the Japanese currency. </div></div>

The Jamaican currency is worth more at face value but useless as trading instrument. It is also not representing an economic powerhouse as 1/1000 as powerful as any one of these countries individually much less combined. </div></div>
exchange rate of a currency has no relationship to the wealth of a country that is why ot i snot used as a toll by which thsiis measured. </div></div>

<span style="text-decoration: underline">Please let me repeat:</span>

The Jamaican currency is worth more at face value but useless as trading instrument. <span style="font-family: 'Arial Black'">It is also</span> not representing an economic powerhouse as 1/1000 as powerful as any one of these countries individually much less combined.

[RichD]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">China, South Korea, Japan,UK, Germany, France, and the EU.
The Jamaican currency i swirth more thn the Japanese currency. </div></div>

The Jamaican currency is worth more at face value but useless as trading instrument. It is also not representing an economic powerhouse as 1/1000 as powerful as any one of these countries individually much less combined. </div></div>
exchange rate of a currency has no relationship to the wealth of a country that is why ot i snot used as a toll by which thsiis measured. </div></div>

stabilty in exchage rate is what is more important.

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: amberal37</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Simply because you are not adding to the knowledge in the thread. You have absolutely no knowledge about the reality of economics in Jamaica. You pick up stuff off the internet and do not realize that those figures are made up of inputs that you have absolutely no knowledge of. you treat economics a s iof it is a mathematical exercise that has no relation ship to anything but the paper it is written on.
As I said before this is not school. It is real life. You can't expect a mental exercise to achieve physical goals. </div></div>

You are perhaps right...I should have started with the A..B..Cs,1..2..3s my fault...

One consolation for me is that you are NOT part of the political process, otherwise the country will definitely be crocked!!!


<span style="font-size: 11pt"><span style="font-weight: bold">Example...I mean is this dialogue for real???</span>
</span>
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">

why does dollarization have to be based on the US dollar? </div></div><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">Maybe Because That is what th ewhole pronciple of dollarization is based on?? </div></div>

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">not really ....they could &quot;dollarize&quot; tot he pound ..to the euro..to the EC$ even the TT dollar </div></div>

<span style="font-weight: bold">ETA: oh, and good luck in trying to secure your 24% interest rate from the JA government... </span> </div></div> One more time....
my lips. This is not a school room.

It is real life.
in time you will be forced to deal with it, but for the time being have fun.

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body">

China, South Korea, Japan,UK, Germany, France, and the EU.
The Jamaican currency i swirth more thn the Japanese currency. </div></div>

The Jamaican currency is worth more at face value but useless as trading instrument. It is also not representing an economic powerhouse as 1/1000 as powerful as any one of these countries individually much less combined. </div></div>
exchange rate of a currency has no relationship to the wealth of a country that is why ot i snot used as a toll by which thsiis measured. </div></div>

stabilty in exchage rate is what is more important.

Is that any more stable than to fix th eexchange rate??
remember when th U K had tied it's rate to the German mark?? how that go again??

[Tuff Gong]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">here is one option

externalize the debt.....dollarize.....default (in that order) </div></div>
Except for <span style="font-family: 'Arial Black'">Default</span> what problems that we currently have would the first two options solve?

[Tuff Gong]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">stabilty in exchage rate is what is more important. </div></div>Is that any more stable than to fix th eexchange rate??
remember when th U K had tied it's rate to the German mark?? how that go again?? [/quote]

I don't see the value of this statement I am pretty sure that is generally agreed that stability of the exchange rate is a good thing. However the argument was not about stability per se until you chose to internationalize it. The argument was about the utility and the costs of propping up the Jamaican Dollar.

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">here is one option

externalize the debt.....dollarize.....default (in that order) </div></div>
Except for <span style="font-family: 'Arial Black'">Default</span> what problems that we currently have would the first two options solve? </div></div>First thing is that externalization is not an economic principle. It is an accounting principle use to hide expenses and deceive the unwitting about the real value of an entity. i will not accept externalization as a solution. It is in reality a sure way to postpone the problem and then have it ballooning on you when those external entities have to be settled.

[Dr.Dudd]

Re: 'NO ALTERNATIVE THAN TO RESUME IMF BORROWING' - SHAW

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body">stabilty in exchage rate is what is more important. </div></div>Is that any more stable than to fix th eexchange rate??
remember when th U K had tied it's rate to the German mark?? how that go again?? </div></div><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">

I don't see the value of this statement I am pretty sure that is generally agreed that stability of the exchange rate is a good thing. However the argument was not about stability per se until you chose to internationalize it. The argument was about the utility and the costs of propping up the Jamaican Dollar. </div></div> So how do you suggest stabillity be achieved?