Inflation at the highest level ($ near 100/-)

[mohtashimiqbal]

@BTCF

dollar is not backed by ANYthing ?

do something , pull out a hundered Rupee note from your pocket , and try finding the words where it is written ,

" HAAMIL e HAAZA ko MUTAALBA PER ADA KARAYGA "

try finding out what exactly is your state bank promising you to return.
next find out about the goldsmith fraud of 1935 .

if you meant to say that dollar in not backed by anything , in that FRAUD way ... that all this dollar in the market , with no audit of the FEDERAL RESERVES that how much Gold it actually has . then its OK . you are correct here .

but DOLLAR IS BACKED BY GOLD , according to all agreements on paper . ( hint: brettonwood agreement )

1st country is CHINA and its fixed exchange rate against US.
2nd is Saudia , all of the Saudi oil money is supposed to stay withing US banks , as per agreement they had in 1971. they also have a fixed exchange rate ,

american economy is "MAQROOZ" to these two countries"

[mohtashimiqbal]

@ahmedt

your are right at all things you have said ,
but ,

i am quite unable to understand that under what logic are you even trying to say that economy during zordari regime was better than musharraf.
Musharraf's time economy was a thousand times better then today , what are we even tryng to imply here ?

[aahmedt]

@mohtashimiqbal

Bro you are right under zardari conditions are same or worsened because one thing we are no more recieving unaudited amount from U.S no more , secondly mismanagement in economics but to say that musharraf era was better is not a right statement , musharraf era was the start of decline in terms of our exports (textile industry as our commonwealth member ship suspended and our trade quota going to other countries) the peanut amount which we got from U.S for war on terror plus foreign remittance which could have been much larger under civilian rule and focusing on giving temporary relief like our oil import bill going sky high and giving subsidies on fuel , now think already under military rule we have lost major chunk of business and from whats remaining we are giving away most part by burning oil in thermal plants , its like a person earning 30,000 per month using own vehicle on petrol for commute so all in all i blame most part of our current economy crisis on previous era and less part on current govt.

But , had this govt with ITS CURRENT CORRUPTION RATIO just sorted out the security situation like in srilanka they got rid of the tamil tigers we would have beeen prospering but this govt too continued with the drone attack policy of U.S but on one front army has taken sensible decision i.e of not doing any more operations which is a beginning to achieving stable security situation.

[fazalwahab11375]

We are proud to be a nuclear state. Nuclear power with no electric power. And on top of it no literacy power http://data.worldbank.org/indicator/SE.ADT.LITR.ZS

I get upset seeing this.

[BackToCivicFaiez]

@BTCF

dollar is not backed by ANYthing ?

do something , pull out a hundered Rupee note from your pocket , and try finding the words where it is written ,

" HAAMIL e HAAZA ko MUTAALBA PER ADA KARAYGA "

try finding out what exactly is your state bank promising you to return.
next find out about the goldsmith fraud of 1935 .

if you meant to say that dollar in not backed by anything , in that FRAUD way ... that all this dollar in the market , with no audit of the FEDERAL RESERVES that how much Gold it actually has . then its OK . you are correct here .

but DOLLAR IS BACKED BY GOLD , according to all agreements on paper . ( hint: brettonwood agreement )

1st country is CHINA and its fixed exchange rate against US.
2nd is Saudia , all of the Saudi oil money is supposed to stay withing US banks , as per agreement they had in 1971. they also have a fixed exchange rate ,

american economy is "MAQROOZ" to these two countries"

lol....I've studied this as a part of a macro-economics course...I know what I'm talking about. Somewhere in the 70s, alot of countries started demanding gold for dollars. France was one of those countries which took away a large chunk of the gold..there were many
others. They calculated that if all the countries started demanded gold for their dollars, they didn't have enough gold for all of them. So they passed a new act/law after which USA wouldn't give you one ounce gold for every $35...I dont remember what the act was called or the exact year....you can try googling...

USD was the last or one of that last countries to have a currency fixed with gold. The learned their lesson the hard way.

[mohtashimiqbal]

@btcf

That is exactly how it is ,
and that 35$ per ounce thing is the GOLDSMITH FRAUD i was talking about , ( the whole story you told about people demanding gold back )

now i still have the same question .

u state dollar is NOT GOLD BACKED .

1. now do u mean it the literal way like right since the beginning ,

2. or you are pointing out in the direction of the fraud that they vanished half the gold first ,
and then during richard nixon's tenure , they absolutely untied dollar from gold ,

aur desi alfaaz mein ..

" print ke button per ungli rakh kar bhool gaye , aur aaj tak bhoolay huay hain "

@ahmedt

bro we are actually not discussing here the musharraf vs zardari economic policies , but we are rather going to the root of the whole problem if you look ,

these are all latter steps once the root of all evil is defined.

[iLLDuDe786]

This guy knows what he's talking about. Alot of it I learned in econ class.

@BTCF

dollar is not backed by ANYthing ?

do something , pull out a hundered Rupee note from your pocket , and try finding the words where it is written ,

" HAAMIL e HAAZA ko MUTAALBA PER ADA KARAYGA "

try finding out what exactly is your state bank promising you to return.
next find out about the goldsmith fraud of 1935 .

if you meant to say that dollar in not backed by anything , in that FRAUD way ... that all this dollar in the market , with no audit of the FEDERAL RESERVES that how much Gold it actually has . then its OK . you are correct here .

but DOLLAR IS BACKED BY GOLD , according to all agreements on paper . ( hint: brettonwood agreement )

1st country is CHINA and its fixed exchange rate against US.
2nd is Saudia , all of the Saudi oil money is supposed to stay withing US banks , as per agreement they had in 1971. they also have a fixed exchange rate ,

american economy is "MAQROOZ" to these two countries"

[BackToCivicFaiez]

@btcf

That is exactly how it is ,
and that 35$ per ounce thing is the GOLDSMITH FRAUD i was talking about , ( the whole story you told about people demanding gold back )

now i still have the same question .

u state dollar is NOT GOLD BACKED .

1. now do u mean it the literal way like right since the beginning ,

2. or you are pointing out in the direction of the fraud that they vanished half the gold first ,
and then during richard nixon's tenure , they absolutely untied dollar from gold ,

aur desi alfaaz mein ..

" print ke button per ungli rakh kar bhool gaye , aur aaj tak bhoolay huay hain "

@ahmedt

bro we are actually not discussing here the musharraf vs zardari economic policies , but we are rather going to the root of the whole problem if you look ,

these are all latter steps once the root of all evil is defined.

They didn't vanish half the gold first.

Foreign countries exchanged the large amount of dollars they had with gold that the federal reserve bank had promised to pay at $35 per ounce. The federal reserve bank was running short of gold.

That forced them to abolish the gold standard just like many countries did several decades before them as well...

I don't know what you are trying to say...

[IHateRollas]

See the difference:

[mohtashimiqbal]

@BTCF

in early 1900's before the 1929 collapse of the british pound ,
Gold coins were used as a standard currency within US . in Europe , the gold coin was used side by side to the sterling pound .

first in 1913 the federal reserves bank was formed .
And they took the right of money supply to US .

Then the pound collapsed as lost its crown as the BASE CURRENCY , into the hand of the dollar in 1929 great depression.

in 1933 , the american congress , bank of England and federal reserves formed a LAW .

that Gold coins would NOT be used in the country , and the citizens are BOUND to submit their gold coins to the state banks ,

and as an exchange , take away 20$ for every ounce of gold they would deposit .

as it was LAW , everyone submitted their gold to their respective state banks , and took 20$ for every ounce .

then again in 1935 they lift the ban on using gold as a currency ,
that now the public can get back their gold and use it ,

but this time , they were selling back the GOLD , @ 35$ per ounce . and this became the starting point of exchange value of gold.

so just in case u missed it ,

do the calculation , they have already vanished 40% of the gold back in 1935 .
and this is what was called the GOLDSMITH FRAUD of 1935 .

and now the story begins in new dimension , in which all of us are well aware..