Bitcoin Forum
April 25, 2014, 07:37:52 AM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: My country doesn't trust dollar anymore  (Read 1382 times)
d3wo
Member
**
Offline Offline

Activity: 69


Kupo!


View Profile

Ignore
July 03, 2011, 09:30:45 PM
 #1

These Laws is just made recently by my govt.

It's indonesian , please use google translate.

Check it out :
http://bisniskeuangan.kompas.com/read/2010/06/08/10562982/Transaksi.di.Indonesia.Harus.Rupiah.

http://www.analisadaily.com/index.php?option=com_content&view=article&id=97865:transaksi-keuangan-gunakan-dolar-terancam-pidana&catid=26:nasional&Itemid=44

The quick summary translation :
Quote
If you get caught using us dollar for any transactions inside my country, You goto Jail!

Its called financial repression.
http://en.wikipedia.org/wiki/Financial_repression

This is an information, not an offender message  Smiley
Don't worry, keep printing US dollar is a no problem, US dollar still have its values somehow
but just don't forget to exchange it first  Wink jail. . . is not comfortable place to sleep
Again, this is an information, not an offender message, and don't worry, US dollar is still OK!

Donations Welcome: 1GD3Sg3xcAzoc4V2SbkdTkFT9acio65Wr9
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
Buy a Blade, Get a 5-Chip Free!
Start Mining with GAWMiners.com
24/7 Live Phone & Tech Support
Free Hosting & Electricity for 1 Year!

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
1398411472
Hero Member
*
Offline Offline

Posts: 1398411472

View Profile Personal Message (Offline)

Ignore
1398411472
Reply with quote  #2

1398411472
Report to moderator
Astrohacker
Full Member
***
Offline Offline

Activity: 156



View Profile WWW

Ignore
July 03, 2011, 10:51:46 PM
 #2

That's very unfortunate, but not surprising. Central banks, like Bank Indonesia, control the supply of money through legal monopolies enforced by police rather than by competition on the free market. I wrote about this just recently, "Central banks are the scam--not bitcoin".
NO_SLAVE
Jr. Member
*
Offline Offline

Activity: 56


DEBT IS SLAVERY


View Profile

Ignore
July 03, 2011, 11:44:36 PM
 #3

interesting, thanks for the post.
some of us Americans are trying not to use the FEDs dollars either.

best of luck,

FreeMoney
Hero Member
*****
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW

Ignore
July 03, 2011, 11:46:03 PM
 #4

Maybe your government doesn't like the dollar, but if the people in your country actually didn't trust it then your government wouldn't have to make a law against it. People would just refuse to accept it for payment.

This is an important distinction because it could happen with bitcoin. When an old fat politician writes down that we shouldn't use bitcoin anymore it will mark the point where lots and lots of people trust bitcoin more than the dollar, not the opposite.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Littleshop
Hero Member
*****
Offline Offline

Activity: 1148



View Profile WWW

Ignore
July 03, 2011, 11:49:47 PM
 #5

The title is incorrect.  Your country has NO trust issue with the dollar. They either fear it or don't like the fact that they don't control it.

Exonumia
Full Member
***
Offline Offline

Activity: 190



View Profile

Ignore
July 03, 2011, 11:50:33 PM
 #6

I think your govt trusts it too much is the actual point.

Financial repression is about keeping the money for themselves... they are afraid that people will use USD to skip them... meaning they really trust the USD more than their own.

BCEmporium
Hero Member
*****
Offline Offline

Activity: 518



View Profile

Ignore
July 03, 2011, 11:56:34 PM
 #7

Well, a thing that I remember from Indonesia is that they took every load of bullshit FED could put into them. Starting for the USD bills to be "in mint condition", otherwise they were refused.
Grant
Sr. Member
****
Offline Offline

Activity: 252


View Profile

Ignore
July 03, 2011, 11:59:47 PM
 #8

These Laws is just made recently by my govt.

It's indonesian , please use google translate.

Check it out :
http://bisniskeuangan.kompas.com/read/2010/06/08/10562982/Transaksi.di.Indonesia.Harus.Rupiah.

http://www.analisadaily.com/index.php?option=com_content&view=article&id=97865:transaksi-keuangan-gunakan-dolar-terancam-pidana&catid=26:nasional&Itemid=44

The quick summary translation :
Quote
If you get caught using us dollar for any transactions inside my country, You goto Jail!

Its called financial repression.
http://en.wikipedia.org/wiki/Financial_repression

This is an information, not an offender message  Smiley
Don't worry, keep printing US dollar is a no problem, US dollar still have its values somehow
but just don't forget to exchange it first  Wink jail. . . is not comfortable place to sleep
Again, this is an information, not an offender message, and don't worry, US dollar is still OK!

I'm not sure if it's because your govt doesn't trust it. How's political/financial stability in your country at the moment ?

In "sovjet"-states (such as eastern europe) it was also illegal to own dollars. (it was a desperate way for them to try to dampen the hyperinflation, they forbid not only dollar but all foreign currencies)

The utilization of money to create money through economic activity is the intrinsic value of money.
BCEmporium
Hero Member
*****
Offline Offline

Activity: 518



View Profile

Ignore
July 04, 2011, 12:10:34 AM
 #9

Just tried to comment the case with my wife, which happens to be Eastern Javanese, she started to talk about some guys a while ago buying iPads from Singapore with USD and then sell them at Indonesia for USD but without bhs Indonesia instructions... and then 2 of them were arrested and they passed a bill about forbidden trading with USD within ID.
Kind a confuse story...  Shocked ...sounds like an ad-hoc law.

Anything of this checks out?!
CurbsideProphet
Hero Member
*****
Offline Offline

Activity: 532


View Profile

Ignore
July 04, 2011, 12:19:51 AM
 #10

Indonesia has aging oil fields and rising local demand.  In other words, your country is a net oil importer and thus in the eyes of the US, we don't give a shit.  Buy our debt or sell us oil.  Otherwise, no one cares about you.

1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV
d3wo
Member
**
Offline Offline

Activity: 69


Kupo!


View Profile

Ignore
July 04, 2011, 04:30:33 AM
 #11

Indonesia has aging oil fields and rising local demand.  In other words, your country is a net oil importer and thus in the eyes of the US, we don't give a shit.  Buy our debt or sell us oil.  Otherwise, no one cares about you.
Ya, you are right sir.

no worries, the new laws is not turning US Dollar holders into criminals
it's just, hotels, motels, stores, malls, don't do US dollar anymore

but, you can still using it as a transaction tools  Grin

it's just . . . don't get caught  Wink

it's difficult for us to make tactical market decissions , like buy US debt and/or selling Oil to United States
a country who loves to print more money LOL LOL LOL sorry, please don't feel offended.


using US dollar is ok sir  Cheesy
don't be mad.



it's just . . . don't get caught  Wink

Donations Welcome: 1GD3Sg3xcAzoc4V2SbkdTkFT9acio65Wr9
d3wo
Member
**
Offline Offline

Activity: 69


Kupo!


View Profile

Ignore
July 04, 2011, 05:03:51 AM
 #12

Indonesia has aging oil fields and rising local demand.  In other words, your country is a net oil importer and thus in the eyes of the US, we don't give a shit.  Buy our debt or sell us oil.  Otherwise, no one cares about you.
hey...

Looks what i've found on google news :

Obama Losing Canada's Oil to China
http://www.newsmax.com/Headline/BarackObama-FredUpton-China-Oil/2011/07/02/id/402295

US own neighbor won't sell oil to US LOL LOL LOL Your dollar suck sorry, please don't feel offended.

IMF have told The Fed to print more money, if you don't print more money, it can cause economic chaos in the US.
And
IMF Calls For Alternative To Dollar As World Currency
http://www.huffingtonpost.com/2011/02/11/imf-calls-for-dollar-alternative_n_821795.html

Donations Welcome: 1GD3Sg3xcAzoc4V2SbkdTkFT9acio65Wr9
Alex Beckenham
Full Member
***
Offline Offline

Activity: 154


View Profile

Ignore
July 04, 2011, 05:09:14 AM
 #13

LOL LOL LOL Your dollar suck sorry, please don't feel offended.

Hahaha you're funny.

walidzohair
Full Member
***
Offline Offline

Activity: 185


View Profile

Ignore
July 04, 2011, 05:17:45 AM
 #14

I hope we do not see laws against BTC like this strange law soon .... and I feel sad for what happening in Indonesia. at least airports and hotels should still accept ANY foreign currency.
d3wo
Member
**
Offline Offline

Activity: 69


Kupo!


View Profile

Ignore
July 04, 2011, 05:54:32 AM
 #15

I hope we do not see laws against BTC like this strange law soon .... and I feel sad for what happening in Indonesia. at least airports and hotels should still accept ANY foreign currency.

airports and hotels do accept ANY foreign currency, no worries.
it's just the steps for them is change.

the ussual steps :
receive dollar -> put it into coffer -> exchange it later.
those steps change to :
receive dollar -> exchange it to local currency (gets an addon extra charge inflationary rates) -> put it into coffer.

Donations Welcome: 1GD3Sg3xcAzoc4V2SbkdTkFT9acio65Wr9
BCEmporium
Hero Member
*****
Offline Offline

Activity: 518



View Profile

Ignore
July 04, 2011, 11:44:43 AM
 #16

the ussual steps :
receive dollar -> put it into coffer -> exchange it later.
those steps change to :
receive dollar -> exchange it to local currency (gets an addon extra charge inflationary rates) -> put it into coffer.

You're missing one important step:

receive dollar -> exchange it to local currency (gets an addon extra charge inflationary rates) -> give some to the local corrupt police -> put it into coffer.

Otherwise you end up in jail...  Roll Eyes
bitfreak!
Hero Member
*****
Offline Offline

Activity: 768


electronic [r]evolution


View Profile WWW

Ignore
July 04, 2011, 11:52:06 AM
 #17

LOL LOL LOL Your dollar suck sorry, please don't feel offended.

Hahaha you're funny.

lol, this is classic. I love how he acts all casual about it, we all know the US dollar sucks and we all hate it anyway. That's why we are here, on the Bitcoin forum.  Wink

18MWPVJA9mFLPFT3zht5twuNQmZBDzHoWF
BitShop - digital shop script
Web Developer - PHP, SQL, JS, AJAX, JSON, XML, RSS, HTML, CSS
MeSarah
Full Member
***
Offline Offline

Activity: 154


View Profile

Ignore
July 04, 2011, 12:00:56 PM
 #18

This tread needs to be moved. No one cares if you country is not allowed to trade dollars internally. The only thing that matters is that international trades will be settled in dollars. Now please move this thread to the economic section.

60 GH/s BFL Single SC - Pre-Order Yours Today!
`````` Only $1299.99 - butterflylabs.com ``````
Smalleyster
Member
**
Offline Offline

Activity: 70


I yam what I yam. - Popeye


View Profile WWW

Ignore
July 04, 2011, 12:12:09 PM
 #19

I grew up in the Bahamas and there was a similar law there. Tourists could spend USD but it was technically illegal for Bahamians to spend USD without special govt permission. It is because they wanted control, not because they did not trust the USD.

Feel like investing in a Miner?:
http://bitcointalk.org/index.php?topic=30044.msg377773#msg377773
A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!