Monetary Market OUT OF CONTROL
panzer1990panzer
I dont know if anyone else has looked lately but.....
195 MYR FOR ONE GOLD!?!?!?!?!?!?!?!?!?!?
THIS IS INSANE. To all those who operate the majoritity of the money market. Congratulations for robbing Malaysian citizens and slowing our economy down. I doubt a government intervention of just money put down would help as it would be bought out quickly and prices would return.
I do not know much about this system so maybe someone with more skill could explain why the myr is now worth NOTHING.
Comments
Agreed, if some kind of conspiracy is manipulating the Monetary Market in Malaysia: our government will find and expose you.
It's no conspiracy, its just what happens when a country's economy sucks. Nobody needs the MYR for anything, so everybody is trying to sell what MYR they have. When everybody is selling, the value goes down. If you want to fix the problem, grow the Malaysian economy so that people actually have a use for the MYR. Don't try and peg it, thats just a waste of government cash.
Have to agree with Dmitri. We need more people living here using MYR actively and also more goods on the Malaysian market that can be bought with MYR if we want a stronger / more stable currency.
Yea, We have like no new workers coming in and half of those go inactive. I'm already running low on workers again.
the best ways to raise the value of the MYR are exporting and housing, because these involve people turning there gold in MYR
search ,, catch ,, kill it
Import taxes for Oil and Wood in South Africa, Italy, Hungary, and Spain are from 0%-3%. Just a suggestion for a place to sell your abundant resources of Oil and Wood. Then encourage the import of Grain, Iron, and Diamonds from these countries to keep your manufacturing well supplied. The exporting companies can then directly exchange currencies through the Monetary Market without ever having to pass it through the gold exchange. But be wary, foreign trade builds relationships than can lead to military alliances.
"When everybody is selling, the value goes down. If you want to fix the problem, grow the Malaysian economy so that people actually have a use for the MYR. Don't try and peg it, thats just a waste of government cash."
Yes
"The exporting companies can then directly exchange currencies through the Monetary Market without ever having to pass it through the gold exchange."
No
You have a horrible macroeconomic policy and too few workers. That pretty much sums up Malaysia's problems.
Yes, the peg hasn't worked so far and is unlikely to work well in the future, too. Also exchanging currencies directly is usually a very bad idea. There are only a few exceptions between the currencies of some of the biggest nations.
And indeed the biggest problem by far is the lack of workers.