Pak leader moots common currency for India, Pakistan

[thakur_ritesh]

If there is a single currency, then RBI will end up making most of the financial decisions for the block, especially if we include other countries like Nepal, Sri Lanka, Bangladesh and Bhutan.

Which would mean all these countries would become our "bitch."

Even if we consider this happens over the next 10 years, India would be nearly the size of today's US economy by then. So, any financial shocks from these smaller economies will be absorbed by the comparatively massive Indian economy. For eg: A financial problem in Bihar, which is a big but poor state, or in Assam, which is a small state, won't really reflect badly on the entire Indian economy which may comprise of multiple very rich states. Even less if the financial institution of a country like Pakistan fails as a lot of our economy is dependent on domestic consumption. So, if a country like Pakistan fails, we can always bail them out. That's practically buying the country.

Win-win for India and Pakistan in financial terms. No chance of war and most of our current problems with Kashmir will become secondary. This will remove Pakistan as an enemy, they can reduce their defence expenditure to reflect their economy and we will have a lesser chance of seeing a two front war with China. So, Win-lose in favour of India in political terms.

Agree, there are enough positives for carry home as well, but RBI will not be given the all mighty power, as such the regional countries remain pretty suspicious of our motives, so every central bank would like to dictate terms to whatever extent possible and would like the role of RBI to be limited, though it is a given RBI will play the most dominant role in such a set up.

Something more workable, and something that would be a lot bigger confidence booster would be to have SAFTA implemented in letter and spirit, India gets transit rights to West Asia, CAR, we reciprocate by giving them same to B'desh, Bhutan, Burma, ASEAN, and we get access to their natural resources which they claim to be in abundance.

Something like a common currency would come pretty low on priority for now.

 

[Zebra]

Sky just fell on me. Pakistan's currency is also named Rupee, that we know already.
Well what is Rupee derived from? Here's the horror.
Rupee is English for the Hindi word 'Rupaiya'. The 'Rupaiya' is coming from rūpya - a Sanskrit term for Silver Coin.
What did you say again .. a Sanskrit base for Pakistan's Coin !!! :scared:
Tauba Tauba

Regards,
Virendra

Indonesian rupiah - Wikipedia, the free encyclopedia

 

[Zebra]

lol, couple of days ago, I was thinking something like this.....one can say it is as wet / dry dream or even laugh at it.

Imagine, if Indian (entire) western sector I mean IA, IN, IAF at western sector and Pakistan's (entire) PA, PN, PAF become one army, one navy, one air force.

As a joint command.

One time Army's chief will be Pakistani at that time Navy and Air force chiefs will be Indian.

Second time Army's chief will be Indian and Navy, Air force chiefs will be Pakistani and so on.

They can be two separate countries, common currency, people still have to go through the visa procedure if they wants to enter another country, but only the defence forces can enter any where as per their allotment of duties.

 

[chase]

the Hindustan name to India was given by Muslims for being the place of Hindus

What is wrong in this?

@note
by Muslims one must not be confused with the present day Indian Muslims(converted from Hinduism)

i Am talking about the present day Muslims in Pakistan or Kashmir or the martial race

paki education system has failed you

 

[p2prada]

Agree, there are enough positives for carry home as well, but RBI will not be given the all mighty power, as such the regional countries remain pretty suspicious of our motives, so every central bank would like to dictate terms to whatever extent possible and would like the role of RBI to be limited, though it is a given RBI will play the most dominant role in such a set up.

Look at BCCI and ICC in the world of Cricket. BCCI has the money which makes ICC a small player even though they are the ones with actual power.

There is no chance for the smaller banks to cope with the pressure RBI can enforce, especially if we get more power in places like World Bank and ADB. Heck our smaller private banks will end up having more power than the Central banks of the other S. Asian countries.

Something more workable, and something that would be a lot bigger confidence booster would be to have SAFTA implemented in letter and spirit, India gets transit rights to West Asia, CAR, we reciprocate by giving them same to B'desh, Bhutan, Burma, ASEAN, and we get access to their natural resources which they claim to be in abundance.

Something like a common currency would come pretty low on priority for now.

A common currency today is impossible. There is too much of a trust deficit.

 

[chase]

lol, couple of days ago, I was thinking something like this.....one can say it is as wet / dry dream or even laugh at it.

Imagine, if Indian (entire) western sector I mean IA, IN, IAF at western sector and Pakistan's (entire) PA, PN, PAF become one army, one navy, one air force.

As a joint command.

One time Army's chief will be Pakistani at that time Navy and Air force chiefs will be Indian.

Second time Army's chief will be Indian and Navy, Air force chiefs will be Pakistani and so on.

They can be two separate countries, common currency, people still have to go through the visa procedure if they wants to enter another country, but only the defence forces can enter any where as per their allotment of duties.

It's bullsh|t.....india is not a parasite small country like any other eruopean who don't have their vision or goal and are just living off with helping each other.
We are a country with a grand vision and letting things like this even with allies like US is simply not good for India.

I just hate those peaceniks candle kissers on wagah and their degraded mentality

 

[p2prada]

lol, couple of days ago, I was thinking something like this.....one can say it is as wet / dry dream or even laugh at it.

Imagine, if Indian (entire) western sector I mean IA, IN, IAF at western sector and Pakistan's (entire) PA, PN, PAF become one army, one navy, one air force.

As a joint command.

One time Army's chief will be Pakistani at that time Navy and Air force chiefs will be Indian.

Second time Army's chief will be Indian and Navy, Air force chiefs will be Pakistani and so on.

They can be two separate countries, common currency, people still have to go through the visa procedure if they wants to enter another country, but only the defence forces can enter any where as per their allotment of duties.

Now you are pushing it.

 

[parijataka]

When Euro has failed in Europe how can we expect a common currency to work across S Asia ? Anyone care to explain. AFAIK weaker economies of the PIGS countries suffered due to their economies being less productive than countries like Germany and Germany and France are now having to bail them out.

 

[Singh]

Look at BCCI and ICC in the world of Cricket. BCCI has the money which makes ICC a small player even though they are the ones with actual power.

There is no chance for the smaller banks to cope with the pressure RBI can enforce, especially if we get more power in places like World Bank and ADB. Heck our smaller private banks will end up having more power than the Central banks of the other S. Asian countries.

A common currency today is impossible. There is too much of a trust deficit.

Others will not allow RBI all the reigns.
India will have to bail out, all these nations.

 

[Apollyon]

Well this common currency thing is possible with SriLanka, Nepal and Bhutan onlee.
Just stay away, stay away from Pakistan and Bangladesh as much we can.

 

[Singh]

Well this common currency thing is possible with SriLanka, Nepal and Bhutan onlee.
Just stay away, stay away from Pakistan and Bangladesh as much we can.

Not sure if Sri Lanka will be willing, and if Tamil parties will be amenable to it. In Nepal and Bhutan Indian rupee works, and they have pegged their currencies to the Rupee

 

[sayareakd]

if that happen RBI will have very tough time controlling the eco.
What is stated is not practical, plus past anti India activity dont help.

 

[Zebra]

Now you are pushing it.

P2P, I just said, what came in my mind that too just two days ago.

It is just a coincidences that we saw a thread something like this today.

Of course it is quite funny. I know.

That is why I said, even anyone can laugh at it.

 

[Zebra]

It's bullsh|t.....india is not a parasite small country like any other eruopean who don't have their vision or goal and are just living off with helping each other.
We are a country with a grand vision and letting things like this even with allies like US is simply not good for India.

I just hate those peaceniks candle kissers on wagah and their degraded mentality

May be you are right for the colored part.

I guess.

 

[arkem8]

This is a leftist JNU WKK's wet dream.

Unfortunately Indians have more financial sense than political....

 

[spikey360]

The Pakis have printed too much counterfeit Indian currency. Now they want to use it in that god-forsaken land of theirs because we are getting devilishly efficient at identifying fakes.

 

[p2prada]

Others will not allow RBI all the reigns.
India will have to bail out, all these nations.

And how will they take control of RBI's decision making ability? They can try, they won't succeed.

RBI will still make decisions concerning India. If the RBI makes the decisions for a $14Trillion (hypothetical) economy, then any changes the others request (a combined hypothetical $1Trillion economy) will make no difference to what RBI's decided for India.

Are you suggesting a country like Greece will try and dictate terms to a country like Germany? It is not that they will not "allow" RBI all the reigns, the question is what can they do to take away RBI's control. There is nothing they can do. The rules RBI makes, the others will follow.

Of course a single central bank will be created in such a situation. Like the European Central Bank. Of course there will be other National Central Banks functioning too like RBI. In the Euro system, the NCBs control a stake in the ECB. For eg: The Germans controls over 18% of the ECB while Greece controls 2%. France and England control 14% each and so on. So, it depends on how much money the RBI is able to put into this centralized bank. Logic dictates we will end up owning over 90% of this central bank.

Bailing out these economies will be a miniscule amount and something that will be expected anyway in case they ever fall in trouble, single currency or not, considering we start trading with a country like Pakistan in a big way. The added effect is literally buying out the country with a little money and the perpetual control of their economy in good times and bad. If we control a nation's financial system, we control the nation. A single currency system is the best way to do so. This way we can stop worrying about what our neighbours are doing and start thinking on a more global scale.

What most people do not know is that the INR is one of the highest traded currencies in the market. The Chinese Yuan is actually on par with INR today and reached INR's figures only 2 years ago.
World’s Most Traded Currencies By Value 2012 ‹ The Richest People In The World 2012

Chinese Renminbi is in the 17th place in that list, just below the Russian Rouble.

 

[uvbar]

no way

Indian currency is already termed as the worst currency in Asia

devalued by a Atleast 20% in a single year with growth dropping to 4.9%

Google about Indian currency performance worst in Asia

my friend have you illegally smuggled alcohol and weed in your house , just curious

 

[Tronic]

truth is BITTER sir ji but didNt knew to this extant

Truth is bitter, yes... that is why most Pakis choose to live under delusions..

 

[EzioAltaïr]

no way

Indian currency is already termed as the worst currency in Asia

devalued by a Atleast 20% in a single year with growth dropping to 4.9%

Google about Indian currency performance worst in Asia

Talking about Google......

https://www.google.ca/search?q=doll...&sugexp=chrome,mod=0&sourceid=chrome&ie=UTF-8

https://www.google.ca/search?q=doll...&sugexp=chrome,mod=0&sourceid=chrome&ie=UTF-8

Look at the graph and value up top.

2008, One USD was 40 India Rupees, or 60 Pakistani Rupees. Now, one USD is 50 INdian Rupees, or 95 Paki Rupees.

Worst currency?

If India is in the pits (as you guys say), then Pakistan has discovered something below the pits.