America can just print money
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Originally posted by mjallday:
@AJ: SG is a economic superpower but it's mainly in financial services etc. these could easily dissapear overnight as they aren't tied down to country for any other reason than this is a central hub.
potentially malaysia could host the banks just as well as singaporeSG is a financial hub because of PAP's policies of economic and financial freedom, which are absent in Malaysia. Banks and financial institutions would not move to Malaysia because of the regulatory burdens there as well as the political and economic unstability.
Furthermore, one third of SG's economy is industry, so it is more than "just" a financial hub.
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Think this should be moved to speaker's corner heh.
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Sorry, Malaysia was just an example (not neccersarily the best).
What I mean is there is nothing physical keeping these industries here. Any country can change their regulations and become a alternative. In practise it's not that easy as they need to gain corporations trust but it's not like a gold mine which is not physically possible to move.
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Originally posted by AJ Witoslawski:
PAP is the true reason why Singaporeans are some of the wealthiest people in the world.
Really ? how many singaporeans are on the top 50, 100, 500 richest people in the world?
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Originally posted by maxtor:
Really ? how many singaporeans are on the top 50, 100, 500 richest people in the world?
Our benevolent dictator and his family members are in the list.
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it's a bad strategy. become like banana notes
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Monopoly can print as much as they want.
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Every country can print money but need to notify the world bank. The value of each currency is plague by the amount of gold the country had with the world bank. If any country want to print extra money they need to deposit more gold or devalue their currency value.
Every year allcountry will print new notes at the same time they will destroy old or damage notes. It is like a one to one exchange. Of course it is not only deposit that determine the currency value, it is more complex then that.
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Originally posted by xunni:
Recently I read in the newspaper than when America is in debt, they can simply just print out more money. America is 1 of the few countries who can simply just print out more money when they need it. Singapore cannot just print out more money when it is needed
Is this true?
If yes, how come america so special can keep on printing money when other countries like singapore cannot?
I think it is true.
I think it is because US dollars is used for international trade, and for reserves, while SG dollars is not used internationally.
For this reason, USA has a special advantage. It has the whole world to shoulder or absorb whatever thing it does.
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Originally posted by xunni:
Recently I read in the newspaper than when America is in debt, they can simply just print out more money. America is 1 of the few countries who can simply just print out more money when they need it. Singapore cannot just print out more money when it is needed
Is this true?
If yes, how come america so special can keep on printing money when other countries like singapore cannot?
Siao ar.Den USA sure will have hyper-inflatation if this happens.the whole world will suffer liao.
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Originally posted by viewquek:
Every country can print money but need to notify the world bank. The value of each currency is plague by the amount of gold the country had with the world bank. If any country want to print extra money they need to deposit more gold or devalue their currency value.
Is that still true ? I do not think its true so anymore for the part of depositing more gold to print extra money. -
We cannot print more money just to have, more money. The amount of notes floating around the market determines the strenght of our singapore dollar.
The more notes, the weaker our currency is. This is why printing of notes are controlled.
Correct me if I'm wrong.
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If they keep printing, next time we can use SGD1 exchange for USD2 =]
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Actually, I was thinking... they can print money but they don't tell anyone. That way, no one will know. And when no one knows, their currency won't be weakened.
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Originally posted by cyberr1981:
Actually, I was thinking… they can print money but they don’t tell anyone. That way, no one will know. And when no one knows, their currency won’t be weakened.
You print more money, sooner or later its presence will be felt.
It's just like the OPEC cartel.... some of the members secretly try to beat production quotas and boost output to try to take advantage of the artificially-high prices.
It only works in the short run..... eventually, the supply of the extra oil will be felt, and oil prices get depressed as a result.
Same goes for money..... there's really no such thing as printing more money and not having its presence felt when the excess supply is released into the system.
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Originally posted by maxtor:
Really ? how many singaporeans are on the top 50, 100, 500 richest people in the world?
SG doesn't have many of the richest people of the world, but Singapore's GDP per capita is $50,000, which makes the average Singaporean richer than the average American, Canadian, Briton, French, Spaniard, etc.
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Originally posted by mjallday:
Sorry, Malaysia was just an example (not neccersarily the best).
What I mean is there is nothing physical keeping these industries here. Any country can change their regulations and become a alternative. In practise it's not that easy as they need to gain corporations trust but it's not like a gold mine which is not physically possible to move.
That's true, mjallday. That's precisely why we should praise Lee Kuan Yew and PAP for attracting and industry that could have been anywhere else in the world.
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Originally posted by Nelstar:
You want to pay for your food with stacks of cash?You: Auntie ah, Mee Siam, mai hiam.
Auntie: Orh.
You: Mee Siam how much huh?
Auntie: $78,500
*You takes out 7 stacks of 200 $50 notes, and another 170 $50 notes to pay for Mee Siam, mai hiam*
This will be horrific if it happens... haha...