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Thread: Devaluation Of The Jamaican Dollar

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    Default Devaluation Of The Jamaican Dollar

    Yow! what the F%$k is up with the recent surge in the devaluation of the Jamaican dollar against every major currency??? Who the F$#k is running the country??

    This can not be good for the poor and middle class of Jamaica.
    This shit is pissing me off!!!!
    UNNU FI TALK THE TRUTH

    We need better dancehall riddims!!!

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    65 dollars for one us

    wonder how much is the english currency

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    I can't understand whats going on either. The Bank of Jamaica don't even know what going on. No one is claiming to know what's going on with the Jamaican Dollar.


    Is Jamaica going really broke?? ?


    Yuh know what, things might not be so bad. Time to send some $$$ guh deposit inna di bank dung dey.

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    Default just a matter of time

    JOIN DE gang...........
    soon yall dollars gonna be like guyanese dollar....190 to 1 us dollar...imagine that shyt!! I remember a time when we was at 4.00 to 1 us dollar..so enjoy it while it lasts.
    The more th eyutes dem waan foreign goods, the more the money gonna devaluate...


    U Can Hate if you want 2, but u wasting ya TIME!

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    Thumbs up

    Do you know why you negroes don't understand?

    Simlple, because you were never thought proper economics in school, by that I mean economics that will directly affect your life.

    Ask yourself these questions:

    Why was I never thought that?

    As a result I live in ignorance, Will my children also live in ignorance and poverty?

    One Love,
    Ade

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    Default Re: Devaluation Of The Jamaican Dollar

    Originally posted by MAAGA MAN
    Who the F$#k is running the country??
    um, George Bush!
    who the fuck you tink?
    "Do not be arrogant because of your knowledge........

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    Originally posted by mrweed
    65 dollars for one us


    when did it become 65 JA $ to 1 US $? Damn, that's pure fuckery! I guess I need to start a bank account back home and save up !
    Hot gyal from birth!

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    JJP guess dis Xmas back home ah go be expensive for reel.


    Sumting has to give for reel!

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    dont know any site to show it to you
    but stop in a bank and ask

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    Default Re: Re: Devaluation Of The Jamaican Dollar

    Originally posted by Msookubit
    um, George Bush!
    .Geroge Bush has nothing to do with the Fall of the Yard Dollar if is that yu waan call it Yard is lining up to be the NEXT HAITI!!!

    Jamaica problem stems from not electing a new prime minister since 1989.. They did nothing to promote new leaders or younger leaders with new ideas.. They have a Finance minister who is more concerned with attending the funeral of wille hoggart than finding new ways to generate income. Jamaica has sold out the entire country nothing is owned by the government.. No one is to blme for jamaica problem but foreign minded citizens and careless leaders and string of bad decisions.. It’s tiem to stop looking for people to blame.. G Bush has been president for 3 years..How him fuck up Jamaica economy whe de fall from 85 till now…get fuckign real
    SOCIAL MEDIA & D.H.R. ICON
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    MM a which part yuh deh...the country bankrupt long time ...do you realize we have to borrow just to pay our debts.DO you realize that 65 c of every dollar earned by the government goes to service debt. The country has been seriously mismanaged by the Patterson regime......government corruption is rampant. Dont be surprise by the devaluation of the dollar. If a country's economic policy is devised strictly for te distribution of scarce benifits and spoils rather than production an dexport then it is no wonder why the dollar is where its at. The minister of finance has a Phd in Geography(only in Jamaica)......we have a finacial dunce as the head of our financial ministry.

    Government high interest rate policies, along with high, electricity costs, security costs has led to the decimation of the manufacturing industry....and let us not forget the ideals of that nutcase Michael Manley, that is still being practised today

    Dont be surprised if their are wide spread riots in the next couple weeks

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    Default Re: Re: Re: Devaluation Of The Jamaican Dollar

    Originally posted by Drew.....H.I.M.


    .Geroge Bush has nothing to do with the Fall of the Yard Dollar if is that yu waan call it Yard is lining up to be the NEXT HAITI!!!

    Jamaica problem stems from not electing a new prime minister since 1989.. They did nothing to promote new leaders or younger leaders with new ideas.. They have a Finance minister who is more concerned with attending the funeral of wille hoggart than finding new ways to generate income. Jamaica has sold out the entire country nothing is owned by the government.. No one is to blme for jamaica problem but foreign minded citizens and careless leaders and string of bad decisions.. It’s tiem to stop looking for people to blame.. G Bush has been president for 3 years..How him fuck up Jamaica economy whe de fall from 85 till now…get fuckign real
    why the fuck U always quoting what I say?
    So what if I wanna say George Bush....IS GEORGE BUSH REALLY RUNNING JA? No, but I can say that if I want, cause i have freedom of speech, or so I thought!
    more time you need fi just low people statement.
    "Do not be arrogant because of your knowledge........

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    good points drew

    lets see

    the sold the airports
    jps
    heard its a white man own the bauxite plant
    the gold they found in clarendon white men in charge
    hotels white people

    do they still control NWC ?

    well if they dont own the above what can generate money for the country ?

    tourism is the leader but most of the money is not going to the country its going to the private sector

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    DO YOU REMEMBER WHEN THE JAMAICAN DOLLAR WAS $5 TO 1 ?? ....

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    Originally posted by mrweed
    dont know any site to show it to you
    but stop in a bank and ask


    U nuh know where fi go........oanda.com. Dat site is where u can get de latest rtae from any country. Bout stop at a bank!!?!?!

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    Originally posted by MERMAID
    DO YOU REMEMBER WHEN THE JAMAICAN DOLLAR WAS $5 TO 1 ?? ....

    Dat wuz about '85 or '86 or around dem times deh.


    When JA wuz at its Highest.

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    .Geroge Bush has nothing to do with the Fall of the Yard Dollar if is that yu waan call it Yard is lining up to be the NEXT HAITI!!!
    Drew I think Ooku wa sbeing sarcastic

    Jamaica problem stems from not electing a new prime minister since 1989.. They did nothing to promote new leaders or younger leaders with new ideas.. They have a Finance minister who is more concerned with attending the funeral of wille hoggart than finding new ways to generate income. Jamaica has sold out the entire country nothing is owned by the government.. No one is to blme for jamaica problem but foreign minded citizens and careless leaders and string of bad decisions.. It’s tiem to stop looking for people to blame.. G Bush has been president for 3 years..How him fuck up Jamaica economy whe de fall from 85 till now…get fuckign real
    you made some good points here but I dont hink that Jmaicans on a whole are foreign minded. The fact remains American goods have a higher quality and are CHEAPER than their Jamaican counterparts. The thing is Jamaicans will buy what they can afford .....and if its American, british, Trinidadian...it really doesn't matter as long as its affordable and of good quality.

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    do people still buy shoes which is made in jamaica

    think about that dumplin eater

    and not everything jamaica imports is better than the one we have there

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    Default I will QUOTE FUCKERY when i see it

    You'd blame geroge bush if yu woke up an yu pussy was DRY!!!
    You answer was based on nothing sorry I have no choice but to shut that dumb shit down.. george bush has nothing to do with CORRUPTION in the jamaican government..George bush neva tell PJ sell out air j or privitize the airport.. G eorge bush neva tell PJ si sell out boxsite...


    And for those who think it was 5-1 in 85 86 yu wrong.. in 84 it was 8-1....
    SOCIAL MEDIA & D.H.R. ICON
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    Mr Weed.....the price of the product is the contributing factor here.....American products are cheaper on a whole than goods produced here. Its all about what you can afford and how much you're able to spend....fuck the nationalism and the buy Jamaican bullshit.....we buy what we can afford to buy......that's the best way I can put...

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    so american made shoes are cheaper

    no we jamaican buy brands

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    we dont make shoes anymore...factories pulled out...we make mostly sandals, slippers now......but back to the arguement , its not just shoes, its also, tomatoes, chicken, carrots, cabbage, beef, potatoes......you name it, its about affordability here, there isn't any extra income to spend on anything that's not affordable

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    Originally posted by mrweed
    65 dollars for one us

    wonder how much is the english currency
    THE POUND SELL FI AS MUCH AS J$108 @ THE END OF LAST WEEK...

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    no your wrong Drew the dollar was 5:1 in 1989 when the PNP took office......mark you it was a controlled interest rate(i.e. fixed interest rate policy).....but that's an all together different subject

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    Default Re: I will QUOTE FUCKERY when i see it

    Originally posted by Drew.....H.I.M.
    And for those who think it was 5-1 in 85 86 yu wrong.. in 84 it was 8-1....

    U sure bout dat?

    I stand by wha I say and I say in '85 to 87 it wuz about 5 to 1.

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    Thumbs down

    OOkubit and Mermaid stop waisting space in this thread. You haven't contibuted anything.

    Nancy has a point, but he is also forgetting the reason why the Jamaicans sold out thier country.

    If one has nothing and are not properly educated, of course if you give a little money from the World bank they are going to take it. The IMF lend money to third world countries and then force the third world countries to let people come in and tell them how to use that money. In return the 'overseers' who comein and has to be paid from the money that was lent to the third world country..Wtf?

    When the people of the the third world country can't pay back the money. The western powers who controll the world bank, will then take controll of thier(third world) resources for 20+ years in order to regain their money. Not only do they regain money but also they pillage and ransack the resources for the development of their country.

    Ever heared of the Panama Canal which brings a large source of income a year? Guess who controll the Panama Canal?..USA

    Or have you ever heard of the bauxite industry in Guyana? Guess who controll's that...Canada.

    One Love,
    Ade

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    Originally posted by dumplin_eater
    no your wrong Drew the dollar was 5:1 in 1989 when the PNP took office......mark you it was a controlled interest rate(i.e. fixed interest rate policy).....but that's an all together different subject
    well hear mi no when mi de yard 84 is 8-1 mi get so unless my blackmarket man neva know maths or just waan give whe money a dat mi did get!!!
    SOCIAL MEDIA & D.H.R. ICON
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    Default Ms. Ooku

    When u talk u need to back up ur talks. I thought I warned u about that already. u can't just throw blank statements out there and not expect to a lashing by other boardies in return. Remember when u wanted the gun man dem in Jamaica to go look for Bin Laden when someone showed u it was America that sent those guns to Jamaica. Boy, did u make an ass out of urself that time.

    Once again OOku, u are setting ur ownself up for the kill. Boy, if I could get a penny for everytime u embarassed and put ur self in a hole wid ur own statements, I would be a rich man. Nonetheless, u can blame Bush for this as well. If anybody has noticed, ever since September 11, 2001, the Jamaican dollar has went down in value compared to the American dollar.

    The US dollar also went down compared to the English pound. Bush's war has further put the Jamaican dollar into the ground. The Jamaican dollar was garbage already but Bush's war didn't help it any. Since 9-11, flights everywhere has seen a decrease. Including Jamaica. That means less tourist and money coming into America. Everybody in America has become more patriotic and want to buy American products. The stupid YT's are now trying to edge out the French and not buy their products.

    YT's in America are now trying to buy American only products and keep the money in America. Reggae music has also been on a decrease since 9-11-01. It has been harder for sound systems in Jamaica to come to America. The immigration office has gotten stiffer and people like Matterhorn can't come to the USA and play. 9-11-01 and Bush's war has also hurt the reggae industry. Look at the dancehall scene now. A pure dead stock. Nobody hardly buys reggae music afta 9-11-01 and that has also hurt the Jamaican economy.

    Yes, Bush and America had everything to do with the Jamaican economy. Britain has also done something to the Jamaican economy. Dem engaging in war on Iraq has also hurt the airlines and people are more scared to fly now. They feel that planes will be attacked more now. In the 1980's, when the US was shipping guns to Jamaica and aiding the drug and gang war that also had a negative affect on the Jamaican dollar and the economy.

    After the sniper incident that supposedly involved a Jamaican, that also negatively affected the Jamaican economy. Cnn just couldn't stop showing gang wars in Jamaica after that sniper incident. Also, the Bush Adminstration has a Jamaican in its ranks, Collin Powell. What has Collin done for Jamaica. How much money does Collin send to Jamaica. How many times does Collin bring up the current Jamaican economic woes to his other white house associates.

    U people actually believe PJ and dem control Jamaica. They are mere figure heads like the King and Queen of England. They have to answer and get money from a higher power. Which is the whites in Great Britain and America. They control what goes on in Jamaica. U done see how Bush planned to put sanctions on Jamaica if they participated in a meeting that denounced the US going to war wid Iraq. That right there showed u who really controls Jamaica. PJ and dem man are just figure heads. They can only do about so much.

    Alot of PJ and dem money come from Don's and drugs man in Jamaica. Those same don's that throw neighborhood parties that u and ur sister goes too. New leadership in Jamaica will do absolutely nothing for the country. They still will have to answer to a higher whiter power in America and Great Britain. Their economy can only reach a certain level cause YT will be there to put dem right back in their place. Why u think alot of black nations are so poor. Look at Iraq. If u get too rich wid oil wealth, YT will be there to put u in ur place and take ur shits from u.

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    113 ja doller to the the pound, maybe i should buy some now.

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    Default Re: I will QUOTE FUCKERY when i see it

    Originally posted by Drew.....H.I.M.
    You'd blame geroge bush if yu woke up an yu pussy was DRY!!!
    You answer was based on nothing sorry I have no choice but to shut that dumb shit down.. george bush has nothing to do with CORRUPTION in the jamaican government..George bush neva tell PJ sell out air j or privitize the airport.. G eorge bush neva tell PJ si sell out boxsite...


    And for those who think it was 5-1 in 85 86 yu wrong.. in 84 it was 8-1....
    MY ANSWER WAS PURE SARCASM!
    since I have to break it down for you!
    Mawga asked "WHO THE FUCK RUNNING THE COUNTRY"
    Don't he already know who IS RUNNING THE COUNTRY!
    so why ask? hence the GEROGE BUSH statement and the additional "who the fuck U tink"
    now shet the hell up Drew...


    @BIG PUSSY MAN and QuenchADE! read this reply and go suck U self
    and stop taking shit LITERALLY! FASSY!
    You all are trying to prove to ME that you are Intelligent?
    you'r time is wasted, cause if you can't see simple sarcasm then you're an IDIOT!
    "Do not be arrogant because of your knowledge........

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    Another reason for the devaluation is the lack of confidence existing the economy for the the Jamaican Government, Finance Minister Omar"Dr. Whoodini" Davis, The Governor of the Bank of Jamaica and the head of teh Economic Intelligence Unit

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    OOkubit...

    What a waste of good horse meat!

    I have never seen you made a decent contribution to a topic. Like I told you before horse face, you can't discuss all you are good for is a "pussy, a fuck off, a batty boy and a suck" and your vocabulary gets exhausted."

    OOkutrick, you still haven't contributed anything to this thread, whats your purpose here?

    One Love,
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    Default Boom Post

    Nice points from both sides P.M. basically summed up all my thoughts inna nut shell. Groups like IMF & World Bank use these tactics internationally to control "third world" countries. This is exactly what Castro has been chanting out gainst from longertime. Its sad but it seems as if the only possible way to completely overturn things is thru bloody revolution...

    Like Bob Marley sey "Total destruction the only solution...."




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    Any solutions?

    U nuh haffi be a brain doctor fi see dat de economy is messed up. Any wayz in correcting de problem should be de forward.

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    Jamaica will always be screwed as long as we have that debt. The debt repayment and interest servicing are always at the top of the budget. The only thing that can save us is if we discover some new resource such as diamonds or gold. Or if they legalize the export of ganja.

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    Default Thank you all for your replies.... even Ooku

    But STR8 this is fucckry. My dad told me that the US dollar was once worth 80 bloood klaaat Jamaican cents up until the late 70s. Then Michael Manley started the slide...

    Bwaaay things look STICKY fi Jamaica if this trend is not reversed.

    Change will start once the Jamaican people start thinking about the country rather than the political parties. They need to do what Americans do: Vote Out Any administration that does not do anything for the country.

    How the F$#K did PNP win again with the same old leaders??

    I don't preach politics, but SEAGA & Patterson and all the old heads need fi EXIT!!!!
    They are all linked to Corruption!!!
    UNNU FI TALK THE TRUTH

    We need better dancehall riddims!!!

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    Can anyone say Coup attempt.

    But which young (or old upstart) can bring a nation outta such a debt?!?!

    is going on wid dem poeple in power!!?!? De world musta laff after we after dem blame everyting pon we.

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    Default Mr. Prime Minister Is Taking Actions.... Too Little Too Late is my Cry!!!

    PRIME MINISTER P.J. Patterson last night announced a three-pronged attack to halt the precipitous slide of the Jamaican dollar in foreign exchange trading during the past week.

    The Bank of Jamaica (BoJ) will continue an aggressive intervention in the foreign exchange market, the Ministry of Finance will issue an indexed bond and members of the private sector are being asked to act as "patriotic corporate citizens" and sell normal amounts of foreign exchange into the market.

    As of this morning, the Bank of Jamaica (BoJ) will be intervening in an effort to stabilise the foreign exchange market "and bring order to trading". This action will continue for as long as is necessary, Mr. Patterson said in a television broadcast.

    Mr. Patterson said that some speculators will get hurt in this process.

    "They will find that they cannot regain the Jamaican dollars which they spent to purchase foreign exchange at an artificially high rate," he said.

    Speculators had been blamed for the steep decline that led to the dollar depreciating by $6.49 or 10.5 per cent, during the past week. At the close of trading on Friday, the dollar had fallen to an average selling rate of $67.22.

    "Let me remind all Jamaicans, we have fought too long to bring order to the foreign exchange system, to control inflation and to build up our reserves to allow anyone or any group to erode and destroy our hard earned gains. For those speculators, the battle lines are drawn," the Prime Minister emphasised.

    The second measure in the three-pronged attack will be the issuing of an indexed bond. According to Mr. Patterson, this move is a clear demonstration of the Government's confidence in the Jamaican currency and the actions being taken. The Prime Minister said, however, that details of the bond will be revealed by Ministry of Finance and Planning, Dr. Omar Davies, later in the week, although he said that the market has already been alerted to the imminent issue of the bond.

    In asking for support for the third measure in the attack, the Prime Minister appealed to private sector entities, earning "significant levels of foreign exchange", to make no change to their regular activities in the market.


    "Whilst the BoJ and the Government have the principal responsibility for restoring stability to the system, your full support is needed to complement our efforts to restore order as quickly as possible," he said, as he asked the private entities to continue selling their foreign exchange in regular amounts.

    Earlier in his address, Mr. Patterson responded to a number of speculations he said he felt contributed to the financial crisis now facing the nation.

    Mr. Patterson announced that at a meeting at Jamaica House on Friday, Finance Minister, Dr. Omar Davies had reached an agreement with private sector leaders on a compromise solution to the controversial four per cent cess on imports.

    The solution, he said, will yield the same level of revenue as originally projected and has been found to be more acceptable to the business interests. The Finance Minister will spell out the new terms in Parliament on Tuesday.

    In "scotching" the rumours, he stated that the Government has no intention of re-introducing exchange controls, no plans to enter into a borrowing programme with the International Monetary Fund (IMF), and that there was no agreement between the Government and the IMF or any other institution to depreciate the rate of the Jamaican dollar.
    UNNU FI TALK THE TRUTH

    We need better dancehall riddims!!!

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    Default PJ Think him slick!!

    Them fi call for a new Election Now!!!!
    UNNU FI TALK THE TRUTH

    We need better dancehall riddims!!!

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    Default

    Originally posted by mrweed
    do people still buy shoes which is made in jamaica

    think about that dumplin eater

    and not everything jamaica imports is better than the one we have there
    I just came back from Yard two weeks ago, and to me they have too many imports. You can barely find local things anymore and that is bad for the economy. It all stems from the theory of supply and demand. They are buying too many imports from the US, Canada and UK (mainly the US). The US dollar has some what devalued, making things a little cheaper for foreign countries to buy, but it is still expensive especially when they "over purchase" and their currency is 65 J to 1 US. Jamaica does not need to import so much stuff. Its taking away from the economy and the people because too much importation leads to a lack of work.

    They should also limit their importation of US products because the US rarely ever deals with Jamaican products (mainly produce) anymore. When deals were open in the mid to late 80's they chose to import various types of produce from South America rather than help support the Jamaican economy by buying their imports. Why? Because it was more cost efficient to them, but the quality of the produce we get South America sucks, (especially Mexican imports). Its getting to the point now in Jamaica where people have to leave the Country to find things that they should be able to get locally.

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