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#1
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Plz explain: Why SB does not print new notes to pay back IMF?
why the state bank does not print new notes (currency) and get that converted into dollers and pay back IMF and WB ? plz explain logicaly as well as simplistically
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#2
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Quote:
" Bank dolat e Pakistan das/bees/so/panch so/hazar/panch hazar rupiya Haml e Haza ko mutaliby par ada karega Hakomat e Pakistan ke zamanat sy jari huwa" Is statement par ghour karain. State bank ba zat e khud hukomat nhi balky hukomat ke agent hy. Bank dolat e Pakistan ada karegy is liy kion ky is note ke zamat hukomat e Pakistan ny de hy. Zamanat kon deta hy? jis ke apni ik hesiat /worth/value/power/back hoti hy. Yahan hesiat sy murad economy main dam hy, lathi, missile, ya pakeeza nhi. Economy main dam kagaz ky tukry sy nhi balky us ky real asason sy hota hy, production, resources, reserves, gold, income generating economic units sy hota hy. Lihaza note issue karna koe dushwar kam nhi, machine ko order kardo be intaha note chap degi lakin note ko honour karan problem hy. Honour karny ky liy note ke backing honi chaee. Ik waqt huwa karta tha jub note sirf mulk main gold ky basis py issue kia jata tha. note ke backing gold sy huwa karte thee kion ky Pak Rupee ke value all over world main nhi lakin Gold all over world main accept kia jata hy us ke worth hy. Phr ik zamana aya jub Gold Ke 100 fesad backing dena note ko dushwar ho gae aur mulk ny kuch Gold ke backing dee aur kuch apni guarantee, reserves etc ko bunyad banaya. Jub bhi kisi currency ke backing real goods sy ya gold sy nhi hote tab us country main afrat e zar (inflation) janum leti hy. Afrat e zar means ap ky kharedny ke qowat main kami, ap jo cheez 5 rupy main kabhi khareed kar sakty thy ab wo ap ko 15 rupy main kharedni par rhe hy. lihaza note issue karny ky liy backing zarori hy warna ap ky note ke koe value nhi rahegi note ik simple kagaz ke hesiat par ajaega. Government ny jo note ky front side py guarantee de hy wo kis cheez ke di hy? kia agar main aj 1000 rupee ka note ly kar wahan dastak don to kia mujhy us ky badly wahe hazar ka note dengy? nhi kion ky phr note le jany ka kia faida? yaqeenan 1000 rupy ke ahmiat ky real goods/items milny chaheen warna koe logic nhi bante. Kia Pakistan main aj tak jo currency issue ke gae hy aur wo awam ain circulate kar rhe hy wo agar aj ky din hukomat e Pakistan ky pas lae jay aur kaha jay ky hamain ye jo pory mulk ke currency issued hy us ky badly real goods dain to hukomat namdar hamain real goods sari currency ky badly dy sakte hy? is sawal py ghour kejeiga aur research kareiga. Agr is sawal ka jawab han main ho to ye inflation peda na hote. Aur yaqeenan is swal ka jawab mojodah sorat hal main No hy kion ky pesa ziada hy aur chezain kam hain. Ap ka swal hy ky pesa aur ziada kion nhi issue kia ja sakta? wazahat oper moujood hy. Agar is sy bhi ziada pesa issue kia gaya to us ko honour kon karega? us pesy ki ahmiat kia hogi? International countries esi currency main confidence loose kar bethitee hain jis ky dishonour hony ky chances hon. ap ka Rupee aj jo 86 Rupee = 1 Dollar py hy wo 86000 Rupee = 1 Dollar py pahunch sakta hy agar ap ki khawahish ky mutabiq be intaha note print karain. Phr usy Dollar ya euro main convert karny sy kia milega? kuch nhi. IMF aur world bank ko kia dengy? kuch nhi. Itna asaan hota to Pakistan ka qarza utar chuka hota ap ky aur mery sochny sy pahly. Urdu medium isi liy use karna para kion ky layman style main jawab dena tha main ny. Taky koe economic jargon kisi ko pareshan na kary. Rab Rakha.
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"Tumhary nafs ki qeemat Janat hay isy Janat say kam qeemat pey na bechna." "Jiyo to istarh ky log tum sy milny ko tarsy; maro to istrah k log tumharee mot par royain" |
The Following 5 Users Say Thank You to Raz For This Useful Post: | ||
Abid Mehboob (Sunday, January 09, 2011), dogar1986 (Monday, January 10, 2011), Khurshid.A.Mahsud (Sunday, January 09, 2011), Rehan Mehmood (Monday, January 10, 2011), tknw01 (Sunday, January 09, 2011) |
#3
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@Abid Mehboob
It is because if SBP prints so many Pakistani notes, then there will be more Pakistani notes chasing few US dollars. For example, if we can get 1 US $ for 85 rupees, then after printing more Pakistani notes, we will be getting one dollar say for 1000 rupees. Simple alfaz main hamari economy ka bhuta bait jayega . Result: Don't do this. |
#4
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In simple terms it will devalue our currency:
Example: suppose Gov has to pay IMF $ 100 and it has only $10. Now if we print Pak currency worth $ 90 without gold backing it will devalue the original worth of our currency. Then we will have to print more money in order to make up for the devaluation but the moment we do that, our currency will further face devaluation. So yeh circle jaari rahay gi aur IMF ka loan wahan ka wahan hi rahay ga.
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There will always be a You-like hole in my life. |
#5
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@Raz
What do you think, if we go back to gold standard? Will it necessarily lead to deflation? Secondly, what officials at SBP say about seignorage? Will it continue forever? Is there any justification for this day time robbery from their side? |
#6
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Quote:
Wesy Barter system acha thaa.
__________________
"Tumhary nafs ki qeemat Janat hay isy Janat say kam qeemat pey na bechna." "Jiyo to istarh ky log tum sy milny ko tarsy; maro to istrah k log tumharee mot par royain" |
The Following User Says Thank You to Raz For This Useful Post: | ||
New Student (Sunday, January 09, 2011) |
#7
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Mujay bi kabi kabi aisa hi lagta hay if we could return back to that time, it would be much better. I have added your contact address in my yahoo messenger. Whenever, you get time we can discuss this. |
#8
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@ Raz
buht achi tarah samajh aa gaya bhayya.... tussi great ho. aik cheez aur puchni thi wo yeh k kia aesa ho sakta hai k koi aik mulk kisi aur mulk ki currency print karey ? Zahir hai publicly tu nahi karega mager illicitly aur phir wo currency circulate ho ya exchange ho k apni shopiping bhe karey aur loans bhe pay karey.... ? aik misaal hamarey mulk mein ja'ali (fake) curreency ki bhe hai jo do teeen saal pehle buht aam thi aur ab bhe stores per currency checking machines lagi hui hain... ap kya kehte hain iss barein mein Quote:
aik aur baat... hamara mulk konsi backing pe note issue karta hai ? gold ya koi aur cheez... ager gold pe karta hai tu phir is ka matlab ye hue jitna gold mulk me tha/hai utney notes chap chukay hain... aur ab ager mazeed notes chapney hain tu usk lye mazeed gold ki zaroorat hai... aur ager mazeed gold mulk mein kaheen se na miley.. tu bahir se purchase karna parega...aur usk liye phir paisa chahye hoga..jis ka matlab gold reserves barhaaney k liye bhe new notes chapney parenge... Last edited by Andrew Dufresne; Sunday, January 09, 2011 at 11:48 PM. Reason: Merged; Please avoid using red color |
#9
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@Abid Mehboob
SBP issues bank notes without any backing. In simple words they just print notes whenever they want. I am not saying that printing notes is without rationale, but let me assure you that it is printing notes completely without backing. This is the basic rationale of fiat money, where only government assurance is required to back currency notes. |
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