blueazure
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it is now an open fact that state bank is answerable to no one except its masters in Washington . our state bank is printing money faster than ever and that money is backed by nothing but thin air .
imagine, you had 10 lacs PKR of cash last year . now the same 10lac pkr's 'worth' is 6 lacs thanks to relative 'devaluation' by the SBP . overnight, 40 percent of your wealth has been stolen right under your nose with the stroke of a pen by the money printing devil wearing a suit ( and an Ex imf employee)
Now let me bust the myth of devaluation of currency to boost exports...( an utter BS theory ) :-
it so happens that countries having trade surplus ( japan, korea, china etc) have more money COMING inside their country vs leaving their shores. over time, their currencies get expensive ( demand and supply) and their exports get non-competitive. so the bank of japan 'strategically' devalues the yen to make the exports more competitive. fair enough, nothing wrong here.
now the chooran being sold to pakistanis is that we are fairly devaluing our currency( even letting it float to mkt) to boost exports. i mean WTF ...STOP right here. our industry is non existent, we produce and export practically nothing worth exporting ( except socks and jeans and knitwear) . industrial production capacity has decreased over the last 35yrs ( thanks to PPP and PML) . we are NOT an export power house. we aint korea or china. textile and agriculture exports revenue is barely in millions of USD.
the fair way to do this was ...
1 . establish industry,
2. get the exports rolling
3. and THEN devalue PKR to boost revenues.
but im sorry, the scum sitting with imran khan have totally fooled him and are wrecking the economy thanks to rampant money printing .
meanwhile, on the streets, im seeing a total rat race of people falling over each other to ' dollar lena hai, dollar nahi mil raha' . guys please, the money changer scums have actually made the dollar 'disappeared' from the mkt and are charging huge premiums . this, and the FUD being spread by media is adding fuel to fire.
imagine, you had 10 lacs PKR of cash last year . now the same 10lac pkr's 'worth' is 6 lacs thanks to relative 'devaluation' by the SBP . overnight, 40 percent of your wealth has been stolen right under your nose with the stroke of a pen by the money printing devil wearing a suit ( and an Ex imf employee)
Now let me bust the myth of devaluation of currency to boost exports...( an utter BS theory ) :-
it so happens that countries having trade surplus ( japan, korea, china etc) have more money COMING inside their country vs leaving their shores. over time, their currencies get expensive ( demand and supply) and their exports get non-competitive. so the bank of japan 'strategically' devalues the yen to make the exports more competitive. fair enough, nothing wrong here.
now the chooran being sold to pakistanis is that we are fairly devaluing our currency( even letting it float to mkt) to boost exports. i mean WTF ...STOP right here. our industry is non existent, we produce and export practically nothing worth exporting ( except socks and jeans and knitwear) . industrial production capacity has decreased over the last 35yrs ( thanks to PPP and PML) . we are NOT an export power house. we aint korea or china. textile and agriculture exports revenue is barely in millions of USD.
the fair way to do this was ...
1 . establish industry,
2. get the exports rolling
3. and THEN devalue PKR to boost revenues.
but im sorry, the scum sitting with imran khan have totally fooled him and are wrecking the economy thanks to rampant money printing .
meanwhile, on the streets, im seeing a total rat race of people falling over each other to ' dollar lena hai, dollar nahi mil raha' . guys please, the money changer scums have actually made the dollar 'disappeared' from the mkt and are charging huge premiums . this, and the FUD being spread by media is adding fuel to fire.
