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View Full Version : Should We Abolish Currency Exchange Rates?


Rakshas
30th June 2006, 08:29
Have a look:

US$1= 53.225 Phillipino Pesos
US$1= 16,000 Vietnam Dongs
US$1= 45.54 Indian Rupees

Why should the value of a US dollar be priced at 53.225 or 45.54? Should it be like US$1=PHP1=Vietnam Dong1=INR1.

Should the system of International monetary exchange be demolished? Please put in your views against or in favor of exchange rates system.
Janus
30th June 2006, 08:32
Right now, we can't do anything about it. However, in a communist society, currency will be abolished.
Delta
30th June 2006, 09:24
Originally posted by [email protected] 29 2006, 09:30 PM
Why should the value of a US dollar be priced at 53.225 or 45.54? Should it be like US$1=PHP1=Vietnam Dong1=INR1.

For what reason should it be like that? If that was the said exchange rate, wouldn't governments have every reason to simply just make more of their money? It's only damn paper, which is one of the sad things about capitalism-that the earth is being destroyed in addition to people's lives being lost simply so that a few can make a profit, i.e. get ahold of more of that wonderful paper.