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RE: Monetary Union



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Please help make the Manifesto better, or accept it, and propagate it!
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You're right Abhijeet,

I am way too liberal. But thats the way I am. 
I do not think that the government can handle anything properly.
I believe it has an anti-midas touch ( all gold it touches becomes
lead ) I would however not be in favour of a pan-asian ciurrency board
because it would not work. The euro has been falling against the
dollar all this time. anyway, on a more conceptual base, i think we
will have a problem if wehave a common currency without proper
free-trade in the region. First free trade, then we can think of a
monetary union.

bye
c.Prakash

Abhijeet Pradhan <perdi420@yahoo.com> wrote on Monday August 21, 2000
at  1:14pm:
>---------------------------------------------------------------------
>Please help make the Manifesto better, or accept it, and propagate
it!
>---------------------------------------------------------------------
>Prakash boss, 
>
>U r way too liberal.  Private currencies????  Anyways, whats the
point of
>that?  You are regressing.  Going back to the barter system
essentially. 
>Also, how will one compare these private currencies to the official
>currency?  Why gold?  Gold has no intrinsic value and is now
declining in
>value for the last couple of decades slowly.  And you do need a Govt
>currency essentially for the Govt to control money supply and control
>inflation/ inject money into a depressed economy/ act as a lender
where
>tremendous amounts of capital are required.  You solution does not
seem
>feasible.  It resembles something like the pseudo-currency of
airmiles or
>something...  Anyways, the point was, do u guys think that currencies
will
>merge.  Should there be an asian currency to counter the euro or the
dollar?
>
>AP
>
>--- Cprakash <Cprakash@goplay.com> wrote:
>>
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>> Please help make the Manifesto better, or accept it, and propagate
it!
>>
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>> That, the federal reserve will implement only a policy centred
around
>> the US is obvious (why would they do anything otherwise ). I
believe
>> India should allow holding of gold and other precious metals in
>> unlimited quantities and allow anyone to issue private currencies.
>> This will be a stable solution in the long term. the currencies
(which
>> in the strictest sense, are only receipts for gold) will be in free
>> trade and will lead to an equilibrium. the US dollar for all its
power
>> is after all, only a fiat currency.
>> 
>> c.prakash
>> 
>> Abhijeet Pradhan <perdi420@yahoo.com> wrote on Monday August 14,
2000
>> at  8:53am:
>> 
>>  >Hi All,
>>  >
>>  >Please read the article at
>>  >
>>  >http://www.mckinseyquarterly.com/newpub/enmo00.asp
>>  >
>>  >It proposes that inevitably, most countries will find costs of
>>  >maintaining a separate currency high enough that they would 
>> >"dollarize" 
>> their economy... I too believe that this is inevitable.   >Already
many 
>> South American countries are considering adopting the  >dollar as a
second
>> 
>> currency. I remember in an interview, someone  >from the Federal
Reserve
>> had 
>> mentioned that they had been approached  >by countries seeking to
do the 
>> same.
>>  >He mentioned that they were in the process of coming up with the
>>  >protocols to do so, but maintained that any federal reserve
policies  
>>  >would be implemented to serve US national interests and not that
of 
>> >any 
>> country that chose the dollar as its main or second currency.  
>Given
>> that 
>> the many small countries
>>  >will eventually peg their currencies to the dollar or the euro, I
>>  >would like to initiate a discussion on possible steps that India 
>> >should 
>> take to engage this scenario....
>>  >
>>  >AP
>> 
>>
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>>
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>
>
>=====
>Ah, Love ! could thou and I with Fate conspire, To grasp this sorry
scheme
>of Things entire, Would not we shatter it to bits ---- and then,
Re-mould
>it nearer to the Heart's Desire !
>
>Jab purdah nahi koi khudah seh, to bandhon se purdah kya.
>
>Abhijeet A. Pradhan, 44J, Reading Rd, Edison, NJ 08817
>Tel #: 732-452-1157      email: perdi420@yahoo.com
>http://www.geocities.com/perdi420/      
http://www.thethinkingindian.com
>
>__________________________________________________
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>
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>This is the National Debate on System Reform.      
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>Rules, Procedures, Archives:           
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This is the National Debate on System Reform.       debate@indiapolicy.org
Rules, Procedures, Archives:            http://www.indiapolicy.org/debate/
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