Tying currency with the dollar is a losing business/ practice
Unfortunately, the Muslim/ Arab countries most of them if not all are tying their currency to the dollar. for example the Saudis have their currency 3.75 Riyals to the dollar. This is has been going on for more than 20 years. and most countries are tying their currency to the dollar. What do these countries do in this practice? They shoot themselves in the foot. Their example as of the example of a blind man ties himself to another man where ever that man goes the blind man goes with him. Even when the man falls, or fall in fire, or drowns the blind man goes with him. This is what the Arab countries do. Since the year of 2002 the dollar value decreases by 6 times. So as well the Saudi currency and all other currencies that is tied to the dollar fell with it. This including the Chinese and other countries. How did the dollar went down six times o fit's value? The price of an ounce of gold in the year 2002 was around $ 375 dollars. Now an ounce of gold is around $1777.00 now the ounce of gold costs six times more, which means the dollar value went down six times. The currency value in the countries who are tying their currency to the dollar went down with it. Who got effected from this practice? The citizens of these countries. Why/ because their purchase power of their currency to import products has decreased six folds, it will make imports six times more expensive. In the mean while when they exports their profits will be six times less. Now the barrel of oil is in the range of $ 100.00 which means if you divide it by six this means that America is buying the barrel of oil for almost $ 16.00 and the Saudis and other countries think they are getting $30.00 more when they were getting %70.00 for a barrel of oil ten years ago. infarct $ 70.00 dollars ten years ago equals to $ 420.00 of today's dollar. Why countries should not tie their currencies to other countries? The dollar went down because America had lending crises, they went to war, they pumped billions in their system to feed the economy. The other countries who are tying their currency to the dollar didn't go to war like the United States did, they didn't spend 100 billion a year on war, they didn't have the economical crises in their countries, and they didn’t do any of what America did. Why their currency had to go down with the dollar? But they did one thing they fell with America. I can see that these countries don't know how to value their currency, their production, their labor and nothing, and they know nothing.
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