Sonia and Manmohan gang have been forcing Indian banks to support dollar by buying dollar. As everyone with elementary knowledge know that American fed is printing dollars like Monopoly game money. Thus supporting dollar is the stupidest idea. India is importing inflation by not letting rupee appreciate against dollar. Dollar is becoming a virus in the world financial system because these people keep printing dollars and most of the commodities are traded in dollars. America is killing dollar by its actions and any currency that is artificially pegged to dollar is bound to suffer and its value would go down. India should diversify its foreign reserves urgently and should also buy gold.
RE:Buying dollars with rupees
by M Kisan on Apr 05, 2008 12:56 AM Permalink
your other points are understandable and probably valid, but why did you suggest buying gold. As its we do not have our basic requirements for most of the people. Should we eat cake, if there is no bread?
RE:Buying dollars with rupees
by Amit Sharma on Apr 05, 2008 01:34 AM Permalink
M Kisan....wat sameer said is exactly the thing which is happening..Infact most of Oil producing countries r adopting to Euro... only Country saving skin of US is China...coz there forex reserve r in $ n only $...d day they throw there $...we will have 40$ in one RS..lol n Mind u....this Chinese control of $(indirectly) can put india in tight spot later or sooner(in case of chinese claim of A.P. and sikkim)
