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Thread: The 1%

  1. #21
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    Re: The 1%

    >>It doesn't means that the reserves or deposits were in negative, but only the variance from 1st July, i.e. 780,253 - 244,804
    Numbers are negative. NFA is negative. Repeat that with me. Its not variance. NFA is negative.. 1 more time.. NFA is negative and growing!

    >>But if your foolish Eyes could see, the next column which is until 23 April 2012. the next column which is until 23 April 2012 is showing a plus movement of +159, 095
    Its showing figures from 2011 not 2012. Combination of arrogance and ignorance is a grave danger to the human race.



    Mate, I honest to God I wish I had someone to go to to ask questions when I couldnt figure something out. When I found about stuff, I shared it with ppl. I wasnt the snob like those I bumped into. I come here to share stuff with Pakistanis who are getting junk from their media. I am thankful to TheNews, Express Tribune and DAWN to allow me to express my point of views to its users.

    This was the last free lesson in Econ you got from me. All the best with your professionalism. You future comments, posts will be religiously ignored.

    Quote Originally Posted by crankthskunk View Post
    And with due respect you should have answer my questions rather than making a silly comments about my knowledge or education.
    I can promise you, Economic had been my subject of choice, what qualifications you have apart from getting others work and include some financial terms which many people wouldn't understand anyway.

    This is first episode, now I suggest answer my questions and prove how Musharaf prop up the Rupee?
    Secondly, your point of view about current Government propping up the Rupee is self defeating. The truth and reality is Rupee has lost over 50% of its value in last 4 years. I am quite convinced it would go down well over Rs100 or even Rs110 to $1.
    I have got many questions based on your rather foolish explanations, but like I said I would go through them one by one, gradually.

    Next time prove your point with proofs or accept you haven't got a clue.

    As much as intervention by SBP or any central bank, this is their duty if the currency comes under pressure. Every central bank does it, get a really check my friend. You are talking to a professional. I purposefully use common language so readers understand it, otherwise you should have no doubts, I know the terms and how markets works.

    This time answer the real questions and provide proofs. As much as "The News" concerned, do you really think they are any indications of quality of the material? I have seen comments by many on your recent article, I think you are not realising but many have sussed out your knowledge is dependent on other people's work and presentations. I am having this feelings you don't even fully understand their work, let alone explaining to me or other knowledgeable people.

    As for "The News" and its Editor Malick; here is an email from him accepting and giving an apology for his rather awful English.


    Let me tell you in plain English, I have seen your highlighted part and I have seen when you opened another thread with this graph and grid. You don't even understand a simple fact from your highlighted portion that it is showing the impact since 1st July 2011 to 20 April 2012, i.e. contraction, indicated by -244, 804. It doesn't means that the reserves or deposits were in negative, but only the variance from 1st July, i.e. 780,253 - 244,804. But if your foolish Eyes could see, the next column which is until 23 April 2012 is showing a plus movement of +159, 095. In other words, there was movement between 20th April and 23 April 2012 which not only covered the negative impact on 20th, but the deposits gone in to positive impact compared to 1 July 2011.
    When I saw your first thread, I smiled on your stupidity and ignored it.

    This time I may not be so forgiving considering the language you have used.

    When you are capable of reading the graphs and figures you presented and explaining and supporting your own presentation (oh sorry, I means others copied work.lol) then and only then you should raise fingers at others.

    As for The News and its editor, they don't know their fronts from their backs.
    Next time be civilised an answer the questions, you should be rest assured I will take you to abyss, gradually.




    Last edited by AsifAmeer; 09-May-2012 at 09:24 PM.
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  2. #22
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    Re: The 1%

    Readers now that Ameer has pointed fingers foolishly I must add, it is time to check him out, lets see how much he can support his non-sense and borrowed ideas. And how much explanations he can provide for his own writings. I am sure he cannot answer my questions on how Mushraf propped up the Rupee and how current Government is doing it. Even though the proof is Rupee is gradually declining since PPP came to power.
    And the fact, it is common practice by all the Central Banks in the world to protect their currency and shield it from huge fluctuations.

    In his earlier reply Ameer wrote:

    Here's how the modern monetary ponzi policy works.


    1. Govt borrows from State Bank.
    2. State Bank prints money
    3. T-Bills are exchanged in return for Currency notes to the Govt

    We are going to concentrate on USA because Ponzi scheme is usually used for the US economy. Secondly, its figures are readily available; it would be easy to judge the knowledge of Ameer using USA figures.

    Ameer,

    1- How much is US borrowings using T- Bills?
    2- Out of the total borrowing issuing T Bills , how much T-Bills are hold by the FED?
    3- How much money is in circulation in the USA, or FED's monetary base?

    Answer my questions please and I will prove to every reader here who is foolish and don't understand Economy at all. You should have been careful,
    and checked my record on this forum before using such silly language.
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  3. #23
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    Re: The 1%

    @crankthskunk @AsifAmeer

    Light sabers or traditional swords?

    On a serious note, crank your English is on quite a weaker side too .

    Now on a really serious note, why don't you two actually join forces and provide readers of Pakistan with some things through which they can really look into matters than being afloat at the surface of what has been going on?

    I don't think this forum is even a forum for knowledgeable people so why fight for who is better at this place? I do agree that institutional education does matter but I bet Hussein Razazadeh knows a lot more than a mere specialist when it comes to functioning and training a human body so why not both Razazadeh and the specialist join forces and create a better athlete.


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    Re: The 1%

    Quote Originally Posted by AsifAmeer View Post
    >>It doesn't means that the reserves or deposits were in negative, but only the variance from 1st July, i.e. 780,253 - 244,804
    Numbers are negative. NFA is negative. Repeat that with me. Its not variance. NFA is negative.. 1 more time.. NFA is negative and growing!

    >>But if your foolish Eyes could see, the next column which is until 23 April 2012. the next column which is until 23 April 2012 is showing a plus movement of +159, 095
    Its showing figures from 2011 not 2012. Combination of arrogance and ignorance is a grave danger to the human race.

    Mate, I honest to God I wish I had someone to go to to ask questions when I couldnt figure something out. When I found about stuff, I shared it with ppl. I wasnt the snob like those I bumped into. I come here to share stuff with Pakistanis who are getting junk from their media. I am thankful to TheNews, Express Tribune and DAWN to allow me to express my point of views to its users.

    This was the last free lesson in Econ you got from me. All the best with your professionalism. You future comments, posts will be religiously ignored.
    dair aaye durust aaye..........finally you came to its just not worth it.........
    now you know that he is expert in science. religion, qadianis, afghanistan and of course economics....did I miss anything?......well you can check with him......


  5. #25
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    Re: The 1%

    [QUOTE=AsifAmeer;813105]>>It doesn't means that the reserves or deposits were in negative, but only the variance from 1st July, i.e. 780,253 - 244,804
    Numbers are negative. NFA is negative. Repeat that with me. Its not variance. NFA is negative.. 1 more time.. NFA is negative and growing!
    OK, I admit I misread the header date in the second column i.e. last column. I have already said the current Government had placed the tranches received from IMF to fool people of Pakistan that Pakistan has $17 billion foreign currency deposits. Everyone who take interest knew the fact. But how negative on a particular day be consider as evidence of propping up the Rupee? Why don't you answer my questions and prove how Rupee was propped up?

    Secondly, the rates are set by the markets, who are well aware of the situation of foreign exchange position of Pakistan. Musharaf or current Government can print more Rupees but cannot produce or print more dollars. We already know that the out flux of foreign exchange in recent years had been great due to the policies of current corrupt government. Even Sheikh Rasheed knows this fact, he said it in many programs.

    I have already said that Net Inflow is negative at the moment because Overseas Pakistanis and some Pakistanis who could open Foreign Currency Accounts in Pakistani banks have taken their deposits/money out of Pakistan. Earlier they used to put their money in Pakistani banks or even in the foreign bank's Pakistani branches to earn higher interest. In the UK Citi Bank used to offer 7% to 9% interest rates on deposit hold in its Pakistani branch, as long as deposit is over $100K. When you would be lucky to get 3% from the banks here.

    Foreign Exchange accounts are fluid, there are huge movements depending on circumstances. Like I said IMF loans repayments dates are coming soon. So Pakistani reserves and deposits of foreign exchanges are going to get a massive hit. This is not the point.
    You said Musharaf and now current government has propped up Rupee. Prove it instead of digging a bigger hole for yourself.

    Now tell me what period Pakistan's financial year covers? Do you see positive figures for FY11 in the 3rd column? They don't show negative flows, do they?

    This was the last free lesson in Econ you got from me. All the best with your professionalism. You future comments, posts will be religiously ignored.
    Off course you would ignore my posts, because you fear to be exposed. This is the difference for writing in the News and facing the music to explain your presentations.
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  6. #26
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    Re: The 1%

    Quote Originally Posted by desicad View Post
    dair aaye durust aaye..........finally you came to its just not worth it.........
    now you know that he is expert in science. religion, qadianis, afghanistan and of course economics....did I miss anything?......well you can check with him......
    Haha, so misreading a date makes the point invalid? Get a life.
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    Re: The 1%

    Quote Originally Posted by crankthskunk View Post
    Haha, so misreading a date makes the point invalid? Get a life.
    I will, I will.......thanks.......
    not talking about misreading a date or whatever......was just praising your expertise......did I say anything wrong?.......


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    Re: The 1%

    God dam-n.. talk about an arrogant pr!ck! And doesnt even have a shred of shame. He mis-reads, makes his conclusions from his misreadings, accuses me of being wrong. When confronted, he just continues with his absurdity.


    Quote Originally Posted by desicad View Post
    dair aaye durust aaye..........finally you came to its just not worth it.........
    now you know that he is expert in science. religion, qadianis, afghanistan and of course economics....did I miss anything?......well you can check with him......
    "City-States trade Commerce. Nation-States trade Wars" - Seneca


  9. #29
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    Re: The 1%

    you'll that Govt by default is the largest debt holder. That debt is called the Treasury Bonds. In an inflation, debt gets wiped out.
    I want the Economic's Guru to explain his sentences. When he says Government by default is the largest debt holder. What does he mean?

    1- Government is in debited to others?
    2- Or Government is holding the largest debts of others?

    And
    3- Tell us, inflation rates in recent years for the USA.
    4- Tell us, what had been the debts in recent years for the USA?
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  10. #30
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    Re: The 1%

    Numbers are negative. NFA is negative. Repeat that with me. Its not variance. NFA is negative.. 1 more time.. NFA is negative and growing!
    I pointed to the Pr!ck that the negative figure is the variance or by how much the Net Foreign Assets of the banks have declined since 1 July. But as the evidence suggest from his above quote, the idiot have denied it.

    Let me expose this idiot further. First of all Pakistani Financial year last from 1st July to 30th June.

    The first column represents the stock as it stood at the last date of the financial year ending 30 June 2011. As every one can see it is in positive at the year end. Secondly if one look at the third column which reflects yearly flow during FY11 i.e. from 1 July to 30 June, the net inflow is in positive 234, 972. So was the net inflow for FY10.

    If we take this idiot's point of view and don't accept that the fourth column is not the difference in the deposits since 1 July 2011 to 20 April 2012, then he should explain us the figures at the end of the table where total of Broad Money (M2) is showing.

    The fourth column has M2 as 516,790 in positive, change since 1 July 2011. Does he think it is the total M2 supply of Pakistan or the difference from the total M2 at 1 July, i.e. 516,790 or 7.72% is added to M2 since July 2011?

    This idiot cannot explain his own presentations. What a shame. And he has the gal to call me a pr!ck.

    Someone should ask him, how these figures for 2010 and 2011 shows what were the deposit situation at the time of Musharaf? And how does it prove that Musharaf propped up the Rupee?

    He has the decency to apologise for his ignorance about Economic?

    At least I was man enough to admit my mistake in misreading of the date.

    I knew from the start this idiot is just presenting others work, that's why I always ignored his various threads and resisted the temptations to reply.
    Alas, fools are trying to teach me.
    Last edited by crankthskunk; 09-May-2012 at 11:33 PM.
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  11. #31
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    Re: The 1%

    Numbers are negative. NFA is negative. Repeat that with me. Its not variance. NFA is negative.. 1 more time.. NFA is negative and growing!
    Those who may be wondering what I wrote in my earlier post to expose the above statement. He tried to belittle me because I misread the date in the last column, which in effect was of no consequences. The last column is produced by the author to show comparison between FY11 and current financial year FY12, i.e. what was the variance or change in M2 money supply in over 10 months in two years.
    But look at this ignorant who does not know ABC of the Economy, he is not accepting his blunders, which are many (I am going to expose each and every one of them to prove it to everyone how wrong he is).
    First (top) Box is showing the changes in M2 in different FY. Because the year FY12 has not finished yet, the author has included the data until 20th April 2012. To balance it for comparison purposes he also included the comparable data until 23 April 2011 for FY11 in the last column

    In the second Box the author is providing details of the factors which have affected the M2 supply in FY10, FY11 and over 10 months of FY12.
    Column 4 definitely is for the differences or movement under different headings for 10+ months of FY12. It doesn’t show that the Net Foreign Assets of Banking system stand at -244,804 as he tried to imply, but it shows the decline in the Foreign assets compare to start of the year, i.e. 1st July 2011.

    These fluctuations are always happening in any country’s foreign assets, depending on the situation. At times, there are extra ordinary items going out, for example a big chunk may be due because of a huge L/C or Government’s commitment. If the comparison made at any other date of the 10+months passed for current FY12, then this change figure may have been in positive.

    What is extra ordinary is his stupidity, based on it he has written so much rubbish previously in his article.
    It also makes my point perfectly against those who were trying to attack my point of view about our Press and Journalists.



    Next I would look at his article based on this evidence and expose it.
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  12. #32
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    Re: Arrogant Buff

    ""BUT TO QUELL SPECULATIVE PRESSURES SBP DID SUPPORT THE MARKET THRU FORIEGN EXCHANGE INTERVENTIONS"".
    You should demand proof when you are capable to understand it. Tell me, what does statement mean (on the same NFA graph page
    "CONSEQUENTLY, RUPEE LIQUIDITY FROM THE SYSTEM CONTRACTED"
    Can you explain me why Rupee liquidity contracted when Net foreign assets are leaving the Pakistan Banking system?
    This morbid idiot was trying to taunt me. It is an established fact now without shadow of any doubts this fool doesn’t know how to read diagrams and charts he presented. How could he? When his whole scholarship is based on using other’s works blindly. Above he is using the quotations from a Statement on Monetary Policy produced by SBP.

    I have gone through botheration to find the source of the material.
    But as fakers usually do, he not only quoted partial sentence but he has forgotten a cardinal fact, one of the prime role of any central bank is to keep their Currency stable.

    The statement actually stated something which is a common practice by the Central Banks throughout the World.
    “Although SBP’s monetary policy framework entails an exchange rate regime that is responsive to market conditions, but to quell speculative pressures SBP did support the Market through exchange interventions.”

    The paper is confirming that the Pakistani exchange rate is determined by Market Forces. From time to time SBP does stabilises the currency and protect it from speculations, like any other State Bank in the World.

    Second question this ignorant asked me is to provide explanation of comments in the SBP statement “consequently rupee liquidity from the system contracted”.

    Once again because it is not this idiot’s work, and as it is already plainly obvious he cannot read and understands the charts and grids he produced, he is making himself a right Arse by showing his ignorance. The grid in the lower part provides Factors affecting Broad Money M2. Net Foreign Assets of the Banking system is part of M2; therefore a negative variance or outflow at any given time by any factor would be affecting the overall M2 supply. It is quite natural. But as the evidence suggests total M2 or rupees liquidity overall was not contracted in any of FY analysed by the Grid. It is constantly increasing, 12.46% in FY10, 15.89% in FY11 and 9.34% during the 10 months of current FY.

    Even the Net Foreign Assets of the Banking System component on its own was not contracted in any of the previous two years. It is showing a negative effect or reduction in the Foreign Currency deposits hold by Banks in FY12 compare to start of the Year. This as I explained could be for variety of reasons.

    At the start of the statement SBP has outlined the challenges faced by Pakistan to control its fiscal and external current account deficits. SBP states “Sizes of these deficits may not considered large given the current state of falling private sector investment demand can be seen in the declining inflation trend, contraction in the real private sector credit, and falling volume of imports.”

    After giving other information and data, the statement actually highlighted the coming problems faced by Pakistan.

    “These fiscal and external developments have resulted in a skewed composition of monetary aggregates. In particular, the increase in Net Domestic Assets (NDA) component of M2 is disproportionally large while the Net Foreign Assets (NFA) has contracted. Given its strong correlation with inflation, the resulting increase in the NDA to NFA ratio is not a welcome development. The year-on-year growth in M2 for FY12 is projected to be in range of 12 to 13 percent."

    This fact is now known by almost every Pakistani who watches talk shows. Leave others, Shiekh Rasheed in many programs highlighted to the public;

    1- Pakistani Businessmen are taking their businesses out of Pakistan, to Bangladesh and African countries.
    2- Foreign investment has dried down, because investors do not have any confidence on corrupt PPP Government.
    3- PPP Government is printing as much as Rs3 billion a day.

    It is official now, Sheikh Rasheed is a bigger Economist compare to the idiot who is borrowing material without understanding it. SBP is highlighting the fact that due to drying of foreign exchange inflow, or direct foreign investment the foreign exchange component in the M2 has been reduced since 1 July 2011. Even though the remittances have increased, which are keeping the external deficit to go out of hands. Otherwise this corrupt Government would probably have really hurt Pakistan Economy to beyond repairs. While local components of M2 i.e. printing of excessive rupees are naturally causing inflation.

    The following statement further clarified the effects of foreign components of M2.

    “The Changing composition of M2 requires a careful interpretation. For instance, the deterioration in the external sector is mostly due to adverse terms of trade developments and uncertail official inflows and may not be sign of rising aggregate demand.”

    Furthermore, we all know, even Sheikh Rasheed (who incidentally calls himself illiterate, but on evidence a better scholar than this arrogant buff) that Pakistan has to pay back some of IMF loans soon. Foreign inflows situation may worsen, unless Pakistan renegotiate existing contracts and arrangements or default on its sovereign debt. IMF on the instructions of Yanks has not given any new tranches to Pakistan for quite a while now to ease the pressure on external deficit.

    This scenario is what the “*********” bridge had been pointing out in talk shows, trying to scare Pakistanis to comply with the demands of Americans. We all can remember traitors like "Alam" constantly using this mantra in talk shows. Only a day ago, for the first time I heard the muttering that Americans may imposed trade sanctions if Pakistan doesn't re-open NATO supplies. The tactics are in full swing, first the messages were given through the stooges; now they are muttered openly to pressure Pakistan.

    The fact remains, this obnoxious fool have not proved two statements he made; firstly Musharraf propped up the Rupee. Let me remind everyone what he wrote;

    I got this info from Shan Saeed about Mushy's dollar peg band.
    The figures presented are two years after Musharraf left, how could they be any evidence of Musharraf’s guilt as suggested? SBP statement is for FY12 and coming pressures on external debt, namely IMF loans. One should also ask him, where is the freaking peg band Musharraf introduced in the evidence he presented?

    Secondly his assertion current PPP Government is propping up the Rupee. First of all, he cannot explain the grid anyway, secondly he is shooting himself on the foot because the evidence suggest otherwise. Rupee was just over 60 to $1 when Musharraf left. It is almost Rs91 to $1. This in itself is indication that Rupee’s exchange rate is determined by the Markets. Due to the ruins of Pakistani Economy the Rupee is losing its value against all the major currencies of the world.

    Funnily he has produced borrowed data and I am providing all the explanations of the data and more; while he is hunkering down somewhere trying to hide his shame and embracement after making silly remarks about his superior abilities and my perceived shortcomings.
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  13. #33
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    The Arrogant Buff

    Before I expose more of this idiot’s supremacy syndrome, it is worth pointing out to some of the posts from another thread where he tried to shame the participants on this forum because they were not paying attention to his stupid articles and threads.

    First let see what qualifies him to be an “Expert” on Economy? Some Educational Qualifications one may think?

    Asif Ameer trades equities, bonds and derivatives in the International Capital Markets.
    Looking at his Sir name Punjwani, it appears he is a “Memon” or “Guajarati” from these communities in Karachi.

    While they are very shrewd minded businessmen and masters as much as “Rokra” is concern, but it hardly a qualification for an Economist. In another place he proudly announced he is no MBA from Cornell. Too right, you are not, guess what, it shows.

    Trading Equities and derivatives is hardly a qualification or expertise to solve the problems of Pakistani Economy. If it was so, I am sure Pakistani Memon Community would have solved these problems ages ago. After all almost all of them trades in equities, share, bonds and derivatives. Including "Satta".

    Let me break news to our resident “Economist”. Once upon a time in my student days, I was quite involved in the tradings, including put and call options. Before giving it up after my fingers were burned. Once we received a tip off, insider information about a company. It is a hot tip, shouted the resident evil, i.e. one of the bosses whose job was to spend his days in front of the screen monitoring markets. To cut the story short, we decided to pool the money and go big, so to speak. Over £1 million was pledged instantaneously by the office staff to buy shares in the company. It so happen, British Government wasn’t sleeping on their job, it appears they also received the murmurs of insider dealings and decided to suspend the trading in the company. Law be hold, it remained suspended and then Liquidated. I count my lucky stars because realising the dangers I only committed £10K. The Resident Evil himself committed over £100K because he realised he could make a handy profit within days.

    This was just to show to the buff with oversize ego that I have been there and done that.

    As it happened, in the past he tried to belittle the participants on this forum when he realised people are not paying attention to his threads and articles. For obvious reasons people didn’t take his comments very kindly.

    Upyours wrote;
    Yip,
    You deal with commodities not (or that's what you claim). Calling for a civil disobedience will only benefit your decreasing dollar. I don't need to bring any numbers cuz they are just numbers. I'll show you the facts. Hope you might understand that calling people to standup against there own country wouldn't help. By the way world is closely monitoring u.s. "take over Wall street". Bring the results babe, we are watching you.
    Hope this might make you think again. It's not your field and not your specialty, so don't brag.
    Even though the buff showed ignorance on these comments, but the participant rightly pointed out, it is not your field or speciality. How blunt this buff wants people to be with him?

    UkPakistani wrote;

    Just because some of us are outside Pakistan, does not mean we do not have a voice or love for Pakistan.
    Seems like you are desperate to be heard, but do tell me one thing, what do you want people in this forum to do ? Somehow say a genius is born, with solutions to all Pakistan's ills ? what would that achieve ? If what you have to offer is worth anything and can change anything, then you should be out screaming at those who have he power to adopt your magical solutions. Why are you wasting your time trying to induce a response from people who cannot do anything about your revolutionary political agenda. If your sole purpose is to try and impress people with how clever you are, then go do something with what you have to offer, instead of criticising others for not seeing your genius, insulting people for no good reason, and being like a spoiled child seeking attention.

    Finally have you actually considered the possibility that people found what you wrote............. not worth responding to. Or is that not possible, because you are so great in your own mind that it is the fault of others who do not see it. Its called having a complex.
    Despite a clear cut message from Bro UKPakistani, to stop behaving like a dork, the buff still didn’t get it. He responded;

    AsifAmeer
    Mere bhai. You just proved my point. I feel Pakistani abroad care more for Pakistan than those living in Pakistan. You responding, made the point made too.

    These arent my ideas. Not even a single one of this idea is mine. I got these ideas from
    · Senator Ron Paul from Texas
    · Peter Schiff, Hedge Funds Manager and CEO of EURO Pacific Capital.
    · Bill Still, Nominate for the US Presidency office for the Libertarian Party
    · Milton Freidman - Nobel winning Economist
    · Frederick Von Hayek - Nobel Economist and
    · Ludwig Von Mises - Nobel Economist
    You read their material and you can almost point out their ideas in my article. You read their work and you can tell where the US economy went wrong. So No, I wont take credit any of these great ideas. What I did was translated their ideas in Pakistan's Economic conditions. And thats not too hard. Anyone can do that.
    I purposely set an insulting attitude on the thread. I want to apologize to Pakistanis who are offended lekin it was necessary to bring core issues into their attention. 1 mind enlightended, is 1 mind freed!
    Yes Buff, I saw other’s ideas and writings in your columns, that’s why I never responded to any of your earlier threads. Long ago I sussed out your stupidity to apply these borrowed ideas to Pakistani Economy. Quick way to get published, isn't it? Use of some big terms and borrowed ideas.

    What direct relevance “We make the Dollar” or “Gold Standard” has for Pakistani Economy? What earth shattering contribution to Pakistan based on such borrowed and irrelevant ideas you wanted to make?

    Buff, don’t you understand the Gold standard primarily is relevant for the USA economy in today's world; it was USA who couldn’t adhere to Bretton Woods Agreements, because of its expanding Economy and not enough Gold Reserves to cover the Dollars they needed in circulation for the demand, both domestic and external. Under the old system many countries fixed their exchange rates relative to or pegged to the US dollar. Pakistani rupee was pegged too but to the Sterling. USA is almost free from constraints compare to other countries whose currency’s value is determined by the markets on the strength of their Foreign Reserves, trade deficits or surplus and Balance of Payment. USA in effect can print as much dollars as its wants to pay off its external debts and obligations without causing inflationary pressures domestically. This advantage is derived from the position of the dollar as reserve currency of the World. Hence USA doesn't have to keep foreign currency reserves like other countries to pay for the imports of goods and services. Free lunch all the way for the USA. That's why now dollars are referred to as "Fiat money/currency" and US economy and its Banking system as "Ponzi scheme".

    Single most powerful reason USA comes down hard on anyone who tried to change the dollar status in the world and tries to introduce any other form of payment system for world trade. Many who have tried to invoice in other currencies have faced the wrath of USA or in the case of Gaddafi to introduce "Gold Dinar" in trade among African countries. Gadaffi was unfortunate, he didn't realized why Americans have got rid of Gold standards in the first place. If the Gold standards were not abolished, American wouldn't be where it is at the moment in the world Politics. The yanks know the implications of any such system, they wouldn't allow any alternate that easily. Every sane and educated person on this planet know this fact. Did you seriously thought you are something special?

    I have written many times on these forums that the day dollar is not reserve currency of the World, America would crumble and fall on its imprints. Einstein most of us know the world around us. But unlike you, we don’t go around stealing other’s ideas to satisfy our ultra-ego.

    Unicorn
    You are absolutely right issue that should be on top of the agenda for economic prosperity is not even on their radars. There are couple of Pakistanis talk about it. Member @crankthskunk sometimes write about it but a lot of the times he mucks it up by mixing it with conspiracy theories.
    As Unicorn put it, I usually make passing remarks on these lines, like I made above, which Unicorn muddles with Conspiracy Theories.

    You have taken it to an art form by plagiarising others ideas and trying to fits them in Pakistani scenarios. You seriously think people wouldn’t suss you out?

    No wonder you are clueless to explain the evidence you produced. Borrowed ideas and use of terminologies neither makes you knowledgeable or pioneer nor it attract other’s attention. You have been given this message on many occasions by different people but it is not getting through your thick skin.

    You going to find out something about me, when I am agitated because of idiots, I go relentlessly after them without giving them respite.
    Last edited by crankthskunk; 10-May-2012 at 07:38 PM.
    Don't Mix up my attitude with my personality.
    My personality depends on ME
    and my attitude depends on YOU


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