Currency Devaluation??? Get your USD now

[zoom rader]

yeah, well the currency is already devalued in reality. Every online store has a higher exchange rate for TTD, as well as Western Union and MoneyGram, which is probably the actual real value of the TTD to USD. By the government not doing devaluation, they are just making the issue worse for the future when it really has to happen. Imagine when they do decide to devalue and the real price is $10TTD = $1USD. Economic collapse overnight.

Who that buck trying to fool?

PNM ppl will beilive impsbert

[paid_influencer]

why short people have to get picked on so? buck, imp, etc... is not like the man choose to be born short. The average Trinidadian is short when you compare to many other parts of the world.

i believe Imbert when he say he has no plans to devalue. Election is in 2020 and he can hold on until then. After that nobody making any promises, not even the opposition.

A currency can lose purchasing power without being devalued. Being told "sorry, we cannot convert your TTD" is a very real loss of purchasing power.

[shake d livin wake d dead]

After pnm win in 2020...the tt$ will sure be devalued

[zoom rader]

After pnm win in 2020...the tt$ will sure be devalued

1% stocking piling , they probably have a billion US in hard cash.

[maj. tom]

I not sure why u got personally offended with no mention at all of short people. I was referring to this characteristic of a buck:

"The owners of these creatures must provide them with food and shelter to keep them under their control. In exchange, the Buck will perform evil deeds that are beneficial to its owner and makes them very wealthy persons."

Artifical shortage of USD and a no devaluation policy, despite real market value keeping who wealthy? Ordinary citizens?

[zoom rader]

I not sure why u got personally offended with no mention at all of short people. I was referring to this characteristic of a buck:

"The owners of these creatures must provide them with food and shelter to keep them under their control. In exchange, the Buck will perform evil deeds that are beneficial to its owner and makes them very wealthy persons."

Artifical shortage of USD and a no devaluation policy, despite real market value keeping who wealthy? Ordinary citizens?

1%

[The_Honourable]

Business Watch: Economists support conclusions of Fitch Solutions

Several economists have come out in support of the conclusions of Fitch Solutions which predicts the Trinidad and Tobago dollar will be devalued.

[zoom rader]

Business Watch: Economists support conclusions of Fitch Solutions

Several economists have come out in support of the conclusions of Fitch Solutions which predicts the Trinidad and Tobago dollar will be devalued.

PNM will not devalue the dollar and there is no need to

[maj. tom]

lol nah Imbert know more than trained professionals who studied the subject all their adult lives at world Universities. All the economists lying. Fake news, etc.

[xtech]

lol nah Imbert know more than trained professionals who studied the subject all their adult lives at world Universities. All the economists lying. Fake news, etc.

In 2017 I saw a money trader willing to trade $1USD for $10.75TTD in Manhattan. When I complained to him he said that is the real value plus a little mark up for himself. Real value at the time was over $9TTD to $1USD

[paid_influencer]

not all economists agree though. Mary King has some columns in the newspaper recently. Her position is that we should consider dollarisation, not devaluation.

Her argument is that many other economists consider the effect of devaluation with a substantial domestic economy, but those effects are not directly applicable to a tiny island state in an open economy.

She gives the example of the free floating Jamaican dollar, which has continuously devalued over and over. Any savings by local people have become worthless due to devaluation.

The solution she is considering in the newspaper columns is dollarisation. Since everything is either imported or has a high importation content, it makes sense to use the foreign currency as our domestic currency.

can't find the columns on google, but they are in one of the papers.

[xtech]

I mentioned this in another thread in 2017.... But our governments are scared to do it because of the huge amount of money a few people will not make when currency trading stops. Also there would be no way to starve buisness men who don’t bend to your will of USD. So more competition everywhere. Prices of goods will fall as anybody could just import what they need and by pass the 1%. Amazing how these super rich people rather see financial chaos instead of seeking financial stability for the country as a whole.


This is my 2017 post—->>>
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

[matr1x]

not all economists agree though. Mary King has some columns in the newspaper recently. Her position is that we should consider dollarisation, not devaluation.

Her argument is that many other economists consider the effect of devaluation with a substantial domestic economy, but those effects are not directly applicable to a tiny island state in an open economy.

She gives the example of the free floating Jamaican dollar, which has continuously devalued over and over. Any savings by local people have become worthless due to devaluation.

The solution she is considering in the newspaper columns is dollarisation. Since everything is either imported or has a high importation content, it makes sense to use the foreign currency as our domestic currency.

can't find the columns on google, but they are in one of the papers.

Mary king still living?


Ent she son kill someone with his car?

[The_Honourable]

not all economists agree though. Mary King has some columns in the newspaper recently. Her position is that we should consider dollarisation, not devaluation.

Her argument is that many other economists consider the effect of devaluation with a substantial domestic economy, but those effects are not directly applicable to a tiny island state in an open economy.

She gives the example of the free floating Jamaican dollar, which has continuously devalued over and over. Any savings by local people have become worthless due to devaluation.

The solution she is considering in the newspaper columns is dollarisation. Since everything is either imported or has a high importation content, it makes sense to use the foreign currency as our domestic currency.

can't find the columns on google, but they are in one of the papers.

This i presume? https://www.trinidadexpress.com/opinion ... ad0bf.html

[src1983]

I mentioned this in another thread in 2017.... But our governments are scared to do it because of the huge amount of money a few people will not make when currency trading stops. Also there would be no way to starve buisness men who don’t bend to your will of USD. So more competition everywhere. Prices of goods will fall as anybody could just import what they need and by pass the 1%. Amazing how these super rich people rather see financial chaos instead of seeking financial stability for the country as a whole.


This is my 2017 post—->>>
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

How do you plan to get USD when all is spent out and you have no native currency? Your Central bank cannot print USD. By devaluing the USD you make it cheaper for Foreign investors to invest here. Right now its too expensive for FDI.

The other problem is Trini work ethic and government corruption. The true solution to end this is to encourage export and manufacturing.

[vaiostation]

Work ethic is one thing, but also employer's exploitation of workers is a larger issue.

[zoom rader]

Work ethic is one thing, but also employer's exploitation of workers is a larger issue.

That's because we still have labour banana laws and usless trade unions that are extensions of the PNM.

Also the Labour court most times are brought out by big business

[hydroep]

People smarting from unemployment and increased cost of living, plus elections coming up, so...dem nuh gonna devalue now.

In anycase it is apparent that only a select few have unfettered access to it. Sh!tkicker must be allowing them to hoard as much as they can before he gives the OK to let it slide which will probably take place early in his second term...

[xtech]

People smarting from unemployment and increased cost of living, plus elections coming up, so...dem nuh gonna devalue now.

In anycase it is apparent that only a select few have unfettered access to it. Sh!tkicker must be allowing them to hoard as much as they can before he gives the OK to let it slide which will probably take place early in his second term...

I know of a guy who was looking for $3million USD but cant get it in the bank lol.......

He still get through. Found a local popular Muslim Biz owner who can sell him around $100k USD everyweek sometimes a little more sometimes a little less. @ $7.20 for $1USD

Somehow it lands in this guys US-based bank account from somewhere everyweek. But he dont need the USD he want TTD.

[Dizzy28]

People smarting from unemployment and increased cost of living, plus elections coming up, so...dem nuh gonna devalue now.

In anycase it is apparent that only a select few have unfettered access to it. Sh!tkicker must be allowing them to hoard as much as they can before he gives the OK to let it slide which will probably take place early in his second term...

I know of a guy who was looking for $3million USD but cant get it in the bank lol.......

He still get through. Found a local popular Muslim Biz owner who can sell him around $100k USD everyweek sometimes a little more sometimes a little less. @ $7.20 for $1USD

Somehow it lands in this guys US-based bank account from somewhere everyweek. But he dont need the USD he want TTD.

7.20 is not a bad black market rate

[xtech]

7.20 is not a bad black market rate

Yeah there are several fatwas explaining rules regarding profit-taking in Islam.

[airuma]

So can we get an educated opinion from an independent economist on this?
Is this anything more than economist trying to influence the finance minister to include this as a measure in the budget?
How is the dollar value determined?
Will dollarisation affect our sovereignty?

I must say that I am disappointed that a UWI lecturer did not provide any alternatives or better explanation than "what it has been doing clearly isn't giving the desired result". Mr. Hosein, what effects (positive and negative) can we expect after a devaluation? is this not an important part of your suggestion?

What effect will a devaluation have on fuel/ transportation prices since we are now importing?
What will inflation be after a devaluation?

How about the list of companies that use the most foreign exchange? was there any significant change in these amounts?
What is most of our foreign exchange used for?
Why can I buy 3 apples for $10 but I have to pay $5 for one lime or $20 for 5 mangoes?
Why does our PM wear Ralph Lauren Polo instead of Radical Designs or Meiling?
How about if we put a ban on importing alcohol? Surely this does not help improve our productivity!

Will devaluation help us earn foreign exchange? If the problem is that we use more than we make, the solution from the economists is to force us to use less rather than make more or do both....... I think a SEA student can tell us that, surely we should get better contributions from UWI lecturers! Are we incapable of generating foreign exchange outside of the energy industry? How does our Caribbean neighbours do it then?

[eliteauto]

Excellent questions

[zoom rader]

So can we get an educated opinion from an independent economist on this?
Is this anything more than economist trying to influence the finance minister to include this as a measure in the budget?
How is the dollar value determined?
Will dollarisation affect our sovereignty?

I must say that I am disappointed that a UWI lecturer did not provide any alternatives or better explanation than "what it has been doing clearly isn't giving the desired result". Mr. Hosein, what effects (positive and negative) can we expect after a devaluation? is this not an important part of your suggestion?

What effect will a devaluation have on fuel/ transportation prices since we are now importing?
What will inflation be after a devaluation?

How about the list of companies that use the most foreign exchange? was there any significant change in these amounts?
What is most of our foreign exchange used for?
Why can I buy 3 apples for $10 but I have to pay $5 for one lime or $20 for 5 mangoes?
Why does our PM wear Ralph Lauren Polo instead of Radical Designs or Meiling?
How about if we put a ban on importing alcohol? Surely this does not help improve our productivity!

Will devaluation help us earn foreign exchange? If the problem is that we use more than we make, the solution from the economists is to force us to use less rather than make more or do both....... I think a SEA student can tell us that, surely we should get better contributions from UWI lecturers! Are we incapable of generating foreign exchange outside of the energy industry? How does our Caribbean neighbours do it then?

1.The apples we get here are substandard second grade that's why they cheap and should be fed to pigs.

2.Our limes and Mangoes are the real thing and not no chemical enhanced.

3. Rowley should set a better example, but he as most dumb trini like flash. Then again our textile market is trash.

4. PNM killed the sugar industry and so did the rum industry. They sold caroni rum next to nothing so some one made a hugh profit.

That's your questions answered.

[xtech]

PNM killed the sugar industry and so did the rum industry. They sold caroni rum next to nothing so some one made a hugh profit.

That's your questions answered.

All the cane fields idle but I thought the only thing that was kept running was the rum factory. Which some UNC type people brought. They don’t care about all the acres of idle land as long as the rum keep flowing. Stupid thing is I thought you needed sugarcane to make the rum

[zoom rader]

PNM killed the sugar industry and so did the rum industry. They sold caroni rum next to nothing so some one made a hugh profit.

That's your questions answered.

All the cane fields idle but I thought the only thing that was kept running was the rum factory. Which some UNC type people brought. They don’t care about all the acres of idle land as long as the rum keep flowing. Stupid thing is I thought you needed sugarcane to make the rum

True rum is made from cane, anything else is not real rum.

It was PNM that sold Caroni rum

[ek4ever]

Anybody knows when the ban on forex will be lifted?

What ban?

the one tat goin on currently& super restricted & can't be purchased from 3rd parties

There is no ban. There is a shortage based on demand and supply further exacerbated by priority disbursement to select corporations an companies. Banks rate their customers based on profitability to the themselves (when I worked FCB they used A, B, C to denote rank level) so they seemingly give the customers most valuable to them the forex.

And wrt 3rd parties the law (Foreign Exchange Control Act) has always been that it is illegal to purchase, borrow or sell forex from non licensed dealers without the approval of the Central Bank.

This is a big problem, government policy on forex should set a tiered system with govt, commercial and non-commercial classification prioritizing use of forex for health, national security, tourism, essential food imports and export manufacturers. Retailers should be on the bottom rung and pay a premium for forex as they only worsen the situation. Same for franchises that pay US franchise fees, premium on their forex purchases.

[Ben_spanna]

Wait for eeeet...... it’s coming>..... sooner that you think and like ahh tief in the night

[shake d livin wake d dead]

Wait for eeeet...... it’s coming>..... sooner that you think and like ahh tief in the night

after they win elections.....

[eliteauto]

Wait for eeeet...... it’s coming>..... sooner that you think and like ahh tief in the night

after they win elections.....

Hasn't that been said in this thread since 2015?