TriniTuner.com  |  Latest Event:  

Forums

Floating the dollar will be our only hope!

this is how we do it.......

Moderator: 3ne2nr Mods

RedVEVO
TriniTuner 24-7
Posts: 8191
Joined: March 8th, 2017, 1:05 am

Re: Floating the dollar will be our only hope!

Postby RedVEVO » November 29th, 2017, 3:02 am

zoom rader wrote:
airuma wrote:
VexXx Dogg wrote:Wait nah, RedVEVO is a PEPper or wah? That sounds like PEA almost verbatim

I share this opinion.

From the very same ppl that hoarding the US.
eliteauto wrote:
RBphoto wrote:Yes, an immediate float would be beneficial. It will crush the black market and free up USD for trade. It will only work if they also remove the caps on how much an individual can acquire and the ridiculous waiting period.


where the $US gonna come from?



Listen to Zoomy :D

Where is the USD coming from today ? And tomorrow ?

Has PNM gone out and open NEW markets to bring in USD ? Any new investments ?

If people here think floating the dollar will benefit Trini - well think gain - do research.

It will have an immediate spiraling effect with no gain to Trinidad.

It will hurt TT like a tornado on steroids . Prices will increase exponentially .

Then you have to understand what a devaluation can do to Trinidad vs other countries .

Example : China likes to under-value their currency since they have a robust export market. The higher RMB has the
effect where China loses USD $$ - And we talking Billions USD $$$$.

Can anybody name ANY country that will accept payment in TT dollars ?

Imbert has created a monster with his allocation agenda.

It is a colossal failure . The more he borrows - the more he fails .

Why ?

He is busy paying bills and not working for new revenue streams other than taxes .

User avatar
EFFECTIC DESIGNS
TriniTuner 24-7
Posts: 9651
Joined: April 1st, 2010, 3:17 pm

Re: Floating the dollar will be our only hope!

Postby EFFECTIC DESIGNS » November 29th, 2017, 6:15 am

RedVEVO wrote:
VexXx Dogg wrote:Wait nah, RedVEVO is a PEPper or wah? That sounds like PEA almost verbatim


Graduate from PNM education.

Sometimes you people cannot write a complete sentence :D ?


From what I have seen, a PNM education at UWI is better than majority of the British Education offered at private schools.

In any event the only hope right now is probably to legalize all them Vene, Colombian and Cubans in this country. Since this is a stable country, if we get young hard working people we might actually be able to attract investors we can already offer them cheap current.

Look at all them factories in Trinidad now and warehouses etc is endless Spanish people working inside there now, they are stronger and complain less than Trinis.

User avatar
xtech
punchin NOS
Posts: 2908
Joined: March 15th, 2006, 2:01 pm
Contact:

Re: Floating the dollar will be our only hope!

Postby xtech » November 29th, 2017, 8:01 am

if nobody wants our TT money can someone explain why floating the TTD makes more sense and not currency substitution?

Devaluation will just make goods more expensive and the USD shortage will still continue. If the government made moves to drop the TTD and convert the country to USD we will be eliminating the shortage. I know Currency substitution has usually only taken place after a major economic crisis I would hate to see us wait that long to take action. Zimbabwe so badly off they using the United States dollar, euro and the Chinese Yuan.

Countries using the US dollar exclusively

British Virgin Islands
Caribbean Netherlands
East Timor
Ecuador
El Salvador
Marshall Islands
Federated States of Micronesia
Palau
Panama
Turks and Caicos Islands

User avatar
hydroep
3ne2nr Toppa Toppa
Posts: 5018
Joined: February 4th, 2007, 9:16 pm

Re: Floating the dollar will be our only hope!

Postby hydroep » November 29th, 2017, 8:33 am

xtech wrote:if nobody wants our TT money can someone explain why floating the TTD makes more sense and not currency substitution?


Because Exchange Rate Manipulation/Forex Trading is Big Business.

Apart from the spread made on the buying and selling of Forex by Banks and other financial institutions controlling access to it means the Government can control who has USD to import goods. And those who have goods to sell make money, those who don't...salt... :|

They can also control how much "money" remains in the country. Limiting access to universally accepted USD means less money can be moved abroad whether that be via purchases or for savings/investment purposes.

User avatar
trini mk5
punchin NOS
Posts: 2744
Joined: November 15th, 2007, 3:13 pm
Location: In the land of the un-free

Re: Floating the dollar will be our only hope!

Postby trini mk5 » November 29th, 2017, 9:11 am

@RedVEVO is typing so much sheit it isn't funny anymore. I feel sorry for you.
Meanwhile pricesmart shelves are filled with imported goods and filled with people buying said goods. One wonders how pricesmart is paying for these goods?
Also new and foreign used cars are plentiful on our roads adding to traffic. How are the dealers paying for those cars? With TTD ?
You see what you people fail to understand is that because of oil and gas money, Trinidad has grown to adopt and adapt to a lifestyle that needs foreign $$$ to sustain itself. This is beyond PNM/UNC rhetoric that many of the forum racist seem to think.
Is the government suddenly supposed to say NO MORE USD for those obviously imported strawberries and juicy grapes? Or how about a ban on the importation of new and used cars & trucks because it uses to much USD?
What about medication? No more USD for that too?
Agriculture can't and will never bring in the money that we got from Oil and gas. We are limited by land space, that much is obvious. Rum shop talkers should actually do some research and compare the revenue gained from agriculture vs oil and see if a 100% increase in spending on agriculture will bring in the R.O.I like oil did?

And FYI, the minister of finance embarked on a roadshow last year to rally investment from the us. Maybe you can edify yourself on what happened there along with the other measures the govt has taken since assuming office.
Last edited by trini mk5 on November 29th, 2017, 5:35 pm, edited 1 time in total.

airuma
I LUV THIS PLACE
Posts: 902
Joined: September 1st, 2007, 7:19 pm
Location: Central

Re: Floating the dollar will be our only hope!

Postby airuma » November 29th, 2017, 9:14 am

agent007 wrote:Guys, I’m not sure how many of us know this but the govt is borrowing money to pay bills right now, we can’t sustain this and sooner or later we’re going to collapse.

Since you know this, can you tell us who is lending the government money to pay bills?

User avatar
RBphoto
TriniTuner 24-7
Posts: 7603
Joined: June 26th, 2007, 10:46 am
Location: Pikchatekoutin
Contact:

Re: Floating the dollar will be our only hope!

Postby RBphoto » November 29th, 2017, 11:58 am

For my information , when "Online tax" is applied to your purchases, is that taken as TTD or USD?

User avatar
car
3NE2NR is my LIFE
Posts: 722
Joined: October 13th, 2011, 1:26 pm
Location: Freeport

Re: Floating the dollar will be our only hope!

Postby car » November 29th, 2017, 11:59 am

RBphoto wrote:For my information , when "Online tax" is applied to your purchases, is that taken as TTD or USD?

Tt

User avatar
~Vēġó~
3NE 2NR Moderator
Posts: 45606
Joined: April 18th, 2003, 12:18 am
Location: Being the Change that I want to See
Contact:

Re: Floating the dollar will be our only hope!

Postby ~Vēġó~ » November 29th, 2017, 12:49 pm

Collum hadda tax this...must report!!!

User avatar
streetbeastINC.
punchin NOS
Posts: 3602
Joined: April 17th, 2003, 11:48 pm
Contact:

Re: Floating the dollar will be our only hope!

Postby streetbeastINC. » November 29th, 2017, 3:44 pm

There is alot of excess liquidity floating around in the population within the bank savings of public servants so govt must take steps to mop up this excess liquidity....will never forget when a former pnm min of finance said that in parliament

Redman
TriniTuner 24-7
Posts: 10430
Joined: August 19th, 2004, 2:48 pm

Re: Floating the dollar will be our only hope!

Postby Redman » November 29th, 2017, 7:47 pm

You know that excess liquidity is inflationary..too many currency units chasing goods.....And therefore if unchecked will debase the currency.

The fact that we pay more currency units for every thing ....means the currency is worth less.

XS supply of any thing reduces value.

I'm not justifying whatever the MP said....but the context of his statement is important.
Last edited by Redman on November 29th, 2017, 10:24 pm, edited 1 time in total.

rspann
TriniTuner 24-7
Posts: 11167
Joined: June 25th, 2010, 10:23 pm
Location: Trinituner 24/7

Re: Floating the dollar will be our only hope!

Postby rspann » November 29th, 2017, 8:26 pm

If they get rid of Jwala Rambarran , all the Forex problems will be over .

RedVEVO
TriniTuner 24-7
Posts: 8191
Joined: March 8th, 2017, 1:05 am

Re: Floating the dollar will be our only hope!

Postby RedVEVO » November 30th, 2017, 5:10 am

trini mk5 wrote:@RedVEVO is typing so much sheit it isn't funny anymore. I feel sorry for you.
Meanwhile pricesmart shelves are filled with imported goods and filled with people buying said goods. One wonders how pricesmart is paying for these goods?
Also new and foreign used cars are plentiful on our roads adding to traffic. How are the dealers paying for those cars? With TTD ?
You see what you people fail to understand is that because of oil and gas money, Trinidad has grown to adopt and adapt to a lifestyle that needs foreign $$$ to sustain itself. This is beyond PNM/UNC rhetoric that many of the forum racist seem to think.
Is the government suddenly supposed to say NO MORE USD for those obviously imported strawberries and juicy grapes? Or how about a ban on the importation of new and used cars & trucks because it uses to much USD?
What about medication? No more USD for that too?
Agriculture can't and will never bring in the money that we got from Oil and gas. We are limited by land space, that much is obvious. Rum shop talkers should actually do some research and compare the revenue gained from agriculture vs oil and see if a 100% increase in spending on agriculture will bring in the R.O.I like oil did?

And FYI, the minister of finance embarked on a roadshow last year to rally investment from the us. Maybe you can edify yourself on what happened there along with the other measures the govt has taken since assuming office.


Planet of the MK5 speaks :D :D

You do not have a basic understanding of economics.
Your vision is quite limited in real life business .

If you have not figured out why Pricesmart etc., have the USD , well you are living under
a " red brink" in a HDC Plantation. Or you do not understand what "boom oil" mean't to
certain people in business . Early 2015 was a crucial time . Bet you are clueless what
happened between Jan 2105 - Aug 2015 in business & banks :D

Now on the second idiotic mindless statement regarding Agriculture.
100% sure you drink Bay Rum and WASA juice .

Agri-business is HUGE. HUGE $$$$

PNM has long held the view that it is NOT but "specific" well financed people have invested since
oil seem to be staggering for the next 2-4 years.

PNM thinks oil will return to $100 per barrel .
Meanwhile ALL their hopes are in one barrel .

The plan with the tax increase is simple.
Mop up the liquids in time and wait for that $100 day !

Stop reading the CEPEP manual and read a book once in a while nah ! :D

And guess you waiting for Sandals to come to Tobago :D :D :D

No_Name
Sweet on this forum
Posts: 302
Joined: August 31st, 2017, 8:05 pm

Re: Floating the dollar will be our only hope!

Postby No_Name » December 1st, 2017, 9:35 pm

Float sthing else other than PNM'S sheet yess, T&T done sinking at their hands...

Gypsy many years ago...
"Captain, the ship is sinking, Captain the seas are rough..."

matr1x
Trying to catch PATCH AND VEGA
Posts: 6999
Joined: February 25th, 2017, 7:46 am

Re: Floating the dollar will be our only hope!

Postby matr1x » December 1st, 2017, 11:22 pm

EFFECTIC DESIGNS wrote:
RedVEVO wrote:
VexXx Dogg wrote:Wait nah, RedVEVO is a PEPper or wah? That sounds like PEA almost verbatim


Graduate from PNM education.

Sometimes you people cannot write a complete sentence :D ?


From what I have seen, a PNM education at UWI is better than majority of the British Education offered at private schools.

In any event the only hope right now is probably to legalize all them Vene, Colombian and Cubans in this country. Since this is a stable country, if we get young hard working people we might actually be able to attract investors we can already offer them cheap current.

Look at all them factories in Trinidad now and warehouses etc is endless Spanish people working inside there now, they are stronger and complain less than Trinis.


This is where you lost all respect

RedVEVO
TriniTuner 24-7
Posts: 8191
Joined: March 8th, 2017, 1:05 am

Re: Floating the dollar will be our only hope!

Postby RedVEVO » December 2nd, 2017, 3:15 am

matr1x wrote:
EFFECTIC DESIGNS wrote:
RedVEVO wrote:
VexXx Dogg wrote:Wait nah, RedVEVO is a PEPper or wah? That sounds like PEA almost verbatim


Graduate from PNM education.

Sometimes you people cannot write a complete sentence :D ?


From what I have seen, a PNM education at UWI is better than majority of the British Education offered at private schools.

In any event the only hope right now is probably to legalize all them Vene, Colombian and Cubans in this country. Since this is a stable country, if we get young hard working people we might actually be able to attract investors we can already offer them cheap current.

Look at all them factories in Trinidad now and warehouses etc is endless Spanish people working inside there now, they are stronger and complain less than Trinis.


This is where you lost all respect


Nah nah .. about the education part .

UWI is dead .

Agree with the immigration part :D

matr1x
Trying to catch PATCH AND VEGA
Posts: 6999
Joined: February 25th, 2017, 7:46 am

Re: Floating the dollar will be our only hope!

Postby matr1x » December 3rd, 2017, 9:27 am

For those who impressed with immigrant work ethic and how they work for less and don't complain about working conditions, you truly represent the worst of Trinidad.

Decent working wages is a right. Undercutting by working for lower than minimum wage is a crime and should concern everyone. This means they are not paying their fair share to the economy.

The willingness of employers to freely skirt around osha rules because workers don't complain is something we should all be concerned about.

Hiring illegal immigrants is a crime and it's up to all trinis to stand against it.

vaiostation
I LUV THIS PLACE
Posts: 961
Joined: January 5th, 2017, 9:22 pm

Re: Floating the dollar will be our only hope!

Postby vaiostation » December 3rd, 2017, 9:50 am

^^^This guy gets it.
No one seems to care about anything or anyone once they get their instant gratification.
Too many locals and immigrants getting exploited in this country....
But nobody business cause they get a fake smile from a Spanish gyul, so they feel like a bite up bara...

User avatar
EFFECTIC DESIGNS
TriniTuner 24-7
Posts: 9651
Joined: April 1st, 2010, 3:17 pm

Re: Floating the dollar will be our only hope!

Postby EFFECTIC DESIGNS » December 3rd, 2017, 10:07 am

We have lost the luxury of "decent working conditions, wages and benefits" it is about survival now. Very few people seem to understand the state this country is in, it has already hit rock bottom of a latrine. There are no jobs out here, thousands are on the breadline as we speak.

Kamla and Rowley are to blame, Kamla pipe out the money on rum and box drain, Rowley too dotish to even know what to do.

Redman
TriniTuner 24-7
Posts: 10430
Joined: August 19th, 2004, 2:48 pm

Re: Floating the dollar will be our only hope!

Postby Redman » December 3rd, 2017, 10:15 am

That's one side of the coin.

Local employees as a group are very difficult to deal with, and to rely on.

Also...for a company that provides a service using local labor...like the security industry....they are confronted with a customer base that wants $35
Service...but only willing to pay 21.

A security company that is being paid 21 CANNOT pay a decent wage and pay NIS/HS.

So while it's easy to say exploitation etc...you have a big contribution from the local employees...And the end users are happy to turn a blind eye and be happy to tick a box.

User avatar
EFFECTIC DESIGNS
TriniTuner 24-7
Posts: 9651
Joined: April 1st, 2010, 3:17 pm

Re: Floating the dollar will be our only hope!

Postby EFFECTIC DESIGNS » December 3rd, 2017, 2:43 pm

^ This is very accurate, few actually understand how bad things are, and business is slowing down all over we would be lucky if these same companies could even continue to hire security firms, they are free to go back to the old days of just burglar proofing and call it a day. It is easy to say exploitation but it is exactly that which allows these companies to still be in business. It have real plenty security guards in this country now as opposed to back in the 90's, the guards know the job is easy and they use their smartphone whole day or read newspapers, they don't mind such "exploitation" at all in reality.

User avatar
The_Honourable
TriniTuner 24-7
Posts: 8477
Joined: June 14th, 2009, 3:45 pm
Location: In the Land of Stupidity & Corruption

Re: Floating the dollar will be our only hope!

Postby The_Honourable » January 19th, 2018, 10:03 pm

Govt exploring greater forex control

Finance Minister Colm Imbert says that given the persistent tightness in the foreign exchange market, the government is considering exercising tighter control over the distrubution of foreign exchange.

Speaking on the Morning Brew television show on CNC3 yesterday Imbert said: "We (the government) are looking at whether we should get involved in a greater level of control of the foreign exchange distribution system. I'm trending towards more control of it rather than less to make sure that people who need it actually get it"

Probed about the way foreign exchange was currently being distributed, the Finance Minister stated that the abandonment of exchange controls in the early nineties meant that more discretion was given to commercial banks in terms of how they dispensed foreign exchange to their customers.

"We now have what is called an Honour System so the banks are supposed to give preference to trade and manufacturing."

Questioned about whether the bank were in fact doing this the Finance Minister replied: "No they are not"

"They (the banks) are obviously giving forex to their largest clients which only makes sense because if you're a bank and you want to make profits and you have an instrument available to you which is foreign exchange you're going to make available to the person who gives you the most income." Imbert said.

The minister said that one could not just "jump in" to the forex market without due consideration for the prevailing circumstances facing both banks and their clients.

"You can't just jump in and interfere because what you will be doing is reintroducing exchange controls, but there is a very strong argument for reintroducing some form of exchange controls by more tightly defining the instructions that are given to the banks"

"Right now the instructions are very broad. We can increase the list of items that they should give preference to and we can make the definition tighter" the Finance minister said.

Source: http://www.guardian.co.tt/business/2018 ... ex-control

User avatar
paid_influencer
Trying to catch PATCH AND VEGA
Posts: 6806
Joined: November 18th, 2017, 4:15 pm

Re: Floating the dollar will be our only hope!

Postby paid_influencer » January 19th, 2018, 10:42 pm

"They (the banks) are obviously giving forex to their largest clients which only makes sense because if you're a bank and you want to make profits and you have an instrument available to you which is foreign exchange you're going to make available to the person who gives you the most income." Imbert said.


you know it have people in this country who think banks are on their side. Yes, the banks are on your side when they refuse to sell you even $500 US.

banks give forex to their friends, not you.

Redman
TriniTuner 24-7
Posts: 10430
Joined: August 19th, 2004, 2:48 pm

Re: Floating the dollar will be our only hope!

Postby Redman » January 20th, 2018, 3:57 am

All business will support the customers that matter to the biz.

A biz will have multiple facilities accounts and as such generate more fees for the bank.

Any business people here regularly ignore their most valuable customers?


Do our politicians ignore their financiers?

desifemlove
Trying to catch PATCH AND VEGA
Posts: 6964
Joined: October 19th, 2013, 12:35 am

Re: Floating the dollar will be our only hope!

Postby desifemlove » January 20th, 2018, 6:51 am

PNM deserves to lose the election.

they have not managed this recession wel enough. any government in any country provides hope, and not just hope, but a plan of action. it's common sense,and macroecon 101. Mr. shaved head man will spend his term saying treasury empty. so what? what yuh gonna do to make the treasury full? the real cause is a lack of diversification, but PNM under the late Manning did sheit to correct that. and Kamz didn't either.

As for changing the FOREX regime, i doh see how that can work. As it's a commodity-based economy, the rates will swing too wildly for the economy to cope. maybe have it against a basket of currencies, or expand the dirty float range. it is technically a float, just not a free float like the USD or Euro.

User avatar
zoom rader
TunerGod
Posts: 27300
Joined: April 22nd, 2003, 12:39 pm
Location: Grand Cayman

Re: Floating the dollar will be our only hope!

Postby zoom rader » January 20th, 2018, 6:54 am

desifemlove wrote:PNM deserves to lose the election.

they have not managed this recession wel enough. any government in any country provides hope, and not just hope, but a plan of action. it's common sense,and macroecon 101. Mr. shaved head man will spend his term saying treasury empty. so what? what yuh gonna do to make the treasury full? the real cause is a lack of diversification, but PNM under the late Manning did sheit to correct that. and Kamz didn't either.

As for changing the FOREX regime, i doh see how that can work. As it's a commodity-based economy, the rates will swing too wildly for the economy to cope. maybe have it against a basket of currencies, or expand the dirty float range. it is technically a float, just not a free float like the USD or Euro.
What recession ?

There was never a recession

desifemlove
Trying to catch PATCH AND VEGA
Posts: 6964
Joined: October 19th, 2013, 12:35 am

Re: Floating the dollar will be our only hope!

Postby desifemlove » January 20th, 2018, 7:48 am

yes, there was. it was declared in 2015, towards the end of UNC and beginning of PNM.

User avatar
The_Honourable
TriniTuner 24-7
Posts: 8477
Joined: June 14th, 2009, 3:45 pm
Location: In the Land of Stupidity & Corruption

Re: Floating the dollar will be our only hope!

Postby The_Honourable » January 20th, 2018, 10:52 am

Doma: Less control over forex distribution needed not more

The Downtown Owners and Merchants Association (Doma) is calling for changes to be made to the existing system for disbursing US currency.

The business group said in a statement yesterday that they noted with "some apprehension" comments made by the Minister of Finance that government may soon have to exert greater control of foreign exchange distribution.

Doma added that it shared similar sentiments with former chairman of the Economic Development Advisory Board Terrence Farrell that "there is need for less control of foreign exchange distribution instead of more control."

The association stated that a fixed exchange rate would lead to a loss of confidence in the TT-dollar.

Doma's comments come on the heels of TTMA stating that there should be consultation if changes are to be made to the system for disbursing US curency.

Doma said: "it is tragically predictable that the current mechanism of foreign exchange management with a fixed exchange rate as it's main feature is going to lead to a loss of confidence in the TT-dollar and a shortage of availability, as more and more holders of foreign exchange seek a more realistic value for their hard currency assets."

Substantiating its point, Doma said the shortage of US currency is having an impact on prices of certain goods.

The business group said it does not advocate "drastic adjustments" given the prospect of rising unemployment, but insisted that, "managed adjustments are needed."

The group suggested that the Government should consider "listening to alternative arguments to the exchange allocation policy in use at this time" stating that the "current model will create an economic predicament that will have dire consequences in the not too distant future."

Source: http://www.guardian.co.tt/business/2018 ... d-not-more

User avatar
zoom rader
TunerGod
Posts: 27300
Joined: April 22nd, 2003, 12:39 pm
Location: Grand Cayman

Re: Floating the dollar will be our only hope!

Postby zoom rader » January 20th, 2018, 11:39 am

desifemlove wrote:yes, there was. it was declared in 2015, towards the end of UNC and beginning of PNM.
And you belive that

No wonder why fetes and cars selling out.

You were not around when there was a real recession in the mid 1980s. This is a joke .

You very guilable to drink PNM kool aid

User avatar
paid_influencer
Trying to catch PATCH AND VEGA
Posts: 6806
Joined: November 18th, 2017, 4:15 pm

Re: Floating the dollar will be our only hope!

Postby paid_influencer » January 20th, 2018, 11:58 am

zoom rader wrote:
desifemlove wrote:yes, there was. it was declared in 2015, towards the end of UNC and beginning of PNM.
And you belive that

No wonder why fetes and cars selling out.

You were not around when there was a real recession in the mid 1980s. This is a joke .

You very guilable to drink PNM kool aid


things selling out because nobody has the foreign exchange to keep everything instock

Advertisement

Return to “Ole talk and more Ole talk”

Who is online

Users browsing this forum: stev and 74 guests