SOUTHEAST ASIAN BLOGGERS NETWORK

Tuesday, November 04, 2008

IT'S TIME TO PEG OUR CURRENCIES TO THE SINGAPORE DOLLAR


My father and I had a little discussion earlier on the phone about the future of our region's economy.

I was soooo grown up talking about world economics, Southeast Asian investment forecasts, which stocks to buy before 2009 and which ones to dispose before the end of this month. Our relationship pretty much revolve around these subjects before we meet in December (annually) and hand him his share of the loot, I mean...profits.

Our conversation ended abruptly while in the middle of brainstorming the possibility of pegging Southeast Asian currencies to the Singapore dollar.

Yeah, that's a good idea.


C'mon! Aren't we all so sick and tired of all the dramas in America?

Every time they got some sort of an economic dilemma [which NOBODY really know if it's true or not] and considering their major bloopers and blunders in the past decade...do we really have to shake, rattle and roll over helplessly?

Let's peg our currencies to the strongest moolah in the region.

It is NOT impossible. I'll back this up with hard stats on our coming posts.


What do you think, young citizens of AEC?

****

15 Comments:

Curbside Puppet said...

is it better than the japanese yen or the hong kong dollar? i honestly have no idea. i guess i'll be waiting for your stats to back this up...

Gulfmann Stamps Collection said...

Its really interesting to know
more about ASEAN countries and
their thinking and life, thru
your nice blog.

Jake Tornado said...

Hmmm...I think that's a good idea. When's the next ASEAN Finance Ministers' Meeting?

TAO said...

If McCain wins do it IMMEDIATELY! If Obama wins then hold off...and if you ever see Sarah Palin running for President then convert everything you own to gold!

kupao1502 said...

spot on Tao!

Anonymous said...

singapore will someday lose its glory because their country is very tiny...hahaha

TAO said...

Well, now the election is over and for the first time in a long time a majority of Americans actually voted and Barack Obama won a decisive majority of a majority!!!

Basically, Obama represents the passing of the torch in the United States from one generation to the next...

Americans have broken with tradition and are going to move forward....and it will be totally new because for the first time we have a President who did not grow up in the cold war nor remembers all that much about the Vietnam War....

This is change.....

Bruneian said...

Brunei has done it... although I wouldnt say its a runaway success...

MischMensch said...

I think it would be good as SGD is currently higher than AUD and NZD but it will take a very long time to implement it

salingPUSA said...

nice idea---never thought of that....

Erique Fat Owl said...

The SGD is strong and stable, but Singapore is such a small economy. It makes little sense to peg to the SGD. Additionally, Singapore's economy is also very much dependent on the US economy. I'd say that pegging our currencies to the SGD is a valid idea, but too much of a hassle for something quite risky.

eyron said...

Some of the finance ministers in Asean are planning to create a single currency much like of the euro. I think this will be better than pegging our currencies to the Singapore dollar

Geisha said...

this is a brilliant idea!

if europe had euro, we can volt in our currencies too.

lets call it bisean dollars!
:D

Akhyari said...

we better team up with a bigger economy like china, and then create a new currency. Very new one. The value? Singapore dollar is way to high to reach for countries like cambodia, or laos.

Anonymous said...

better create a monetary union similar to the Euro.

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