Monday, June 07, 2010

PHILIPPINE PESO – AMERICAN DOLLAR EXCHANGE RATE

There was a time the American dollar had a fixed exchange rate of two Philippine pesos. Thus it was when the equivalence was observed for decades with neither questions asked nor hesitations made. Then it came to pass that a dollar became equals to four pesos, to seven pesos and so on. And time came when the exchange rate between exactly the same American dollar and exactly the same Philippine pesos became anybody’s guess.

During these however, practically every hour on the hour, on the hour, the exchange rates between them changes for enigmatic reason – known only according to the dictate and determination of global financial oligarchs. The money changers merely faithfully obey and accordingly act in their money business ventures. And the general Filipino public simply follow the continuous varying and vexing exchange rates. The same is true for all other foreign currencies vis-à-vis the poor and pitiful Philippine peso.

Except for periodic changes in but machine printed denominations and given opted colors - - while remaining exactly the same in size and shape – strange to say, the dollar and peso paper money exchange rates rise and fall with the rising and setting of the sun. Supposedly financial wizards simply pontificate that the dollar suddenly becomes more costly, and the infallible consequence is that the peso also all of a sudden becomes cheaper in value. And everybody else simply says “Amen!” Why, they do not know. How come, they neither have any idea. But with blind obedience, they bow their heads in utter submission.

What is truly strange as well as really despicable and abominable even is when money has become itself a business – instead of its fundamentally intended purpose of buying material assets and/or consumer goods. Historical records said that human society started with the plain and simple barter - - when manufactured – paper moneys were printed and coins were minted – and used to transact business, to buy and sell at a profit.

But now, it is money buying money, and money as well being sold for money. Why precisely is exactly the same amount of money becomes more or less in value also in terms of money – while this phenomenon may seem curious if not irrational as well, there is however one plain and painful explanation for this economic paradox. This: Human greed! Make money through all possible ways and means. Have more money irrespective of how and when. Get the money and do not mind humanity.

Greed – thy name is abominable, censurable, condemnable!

OVCRUZ, JCD
07 JUNE 2010