Bankruptcy is no big deal for us. Zardari

[FuturePAF]

What would he say if he became financially bankrupt? If all his bank accounts around the world just went to zero? He would have no relevance anymore and be at the mercy of any one that would be willing to help him out.

Btw, does it look like his getting more frail? Or does he usually talk like that?

 

[R2D2]

Right now - there is not enough precious metails of gold or silver to cover the size of the global GDP - that has been the case for some time now - so it is right we left behind bits of metal to denote value etc..

There is no real value behind/backing paper currency.

 

[Ali_Baba]

There is no real value behind/backing paper currency.

As Pakistan is now "learning", the value behind paper currency is a function of the economic strength of the country behind the "currency".

 

[LeGenD]

We should shift to Gold and Silver real currency and get rid of Dollars, Inflation will end automatically. Remove the burden of interest from our necks. Stop hoarding of stocks and land/plots and profiteering. Introduce price controls. Stop juwa in stock market. Remember, we will not save Islam but it is Islam that will save us.

Modern economic system does not works like this.

Gold is in demand but Silver is not.

Gold also exist in limited amount and its value is not sufficient to cover whole range of assets in possession of a society. Paper Currency fills this gap.

Paper Currency might be substituted with Digital Currency in the future:

Digital Currency: The Future Of Your Money

Digital currency has the potential to completely change how society thinks about money. The rise of Bitcoin (BTC), Ethereum (ETH) and thousands of other cryptocurrencies that exist only in electronic form has led global central banks to research how national digital currencies might work. What Is D

www.forbes.com

Gold will remain in demand separately much like in the present.

There is no real value behind/backing paper currency.

Its value is not pegged to gold reserves but shaped by market demands.

The Value of Paper Money Around the World - Currency Notes - IMF F&D Magazine - June 2018 | Volume 55 | Number 2

With digital currencies and online payments gaining steam, the future of paper money may be in jeopardy. What was once valued precisely because of its physicality is giving way to a new global, digital economy.

www.imf.org

Understand this much: anything that is in demand and accepted for exchange with other goods, is valuable.

For example, you can sell your car if you want to (this product is in demand). You might receive its value in cash from a customer who might be a car dealer, or you might get its value adjusted in the cost of another car that you are looking forward to purchase from a dealer if he is buying your car. This is how it works.

https://twitter.com/x/status/1633090702178504704

America
Japan
Britian all bankrupted.


It's no big deal. So youthias need to stop making a big deal out of it.

Everything looks good

Iss muft khorray ko kiya farq parta hai.

His Excellency's revenue streams include kickbacks from projects and party funds. He has investment power by extension.

 

[R2D2]

As Pakistan is now "learning", the value behind paper currency is a function of the economic strength of the country behind the "currency".

US Dollar is the biggest scam in the World, Maybe not economic strength, but military strength is behind its value. We should switch to transaction to other currencies and ditch the dollar.

 

[Ali_Baba]

US Dollar is the biggest scam in the World, Maybe not economic strength, but military strength is behind its value. We should switch to transaction to other currencies and ditch the dollar.

As LeGenD has also pointed out - that is not how economic systems work ..

 

[epebble]

Please outline the practical steps to be taken to get back to that real money. Why hope for something that one has no practical way of achieving?

They don't teach such difficult subjects in Hailey College of Commerce for B.Com. degree.

 

[Mav3rick]

https://twitter.com/x/status/1633046768890912770

kabhi Exports $32 Billion hoa karti thi ab back to $25 shaed

And how much were the imports? Around 80 Billion USD? What was the CAD? Around 48 Billion??? Remittances also were at around 32 Billion so net CAD was around 16 Billion USD, right? Won't you also multiply those 16 Billions with 5 years to produce a CAD of 80 Billion USD????

 

[AZ1]

And how much were the imports? Around 80 Billion USD? What was the CAD? Around 48 Billion??? Remittances also were at around 32 Billion so net CAD was around 16 Billion USD, right? Won't you also multiply those 16 Billions with 5 years to produce a CAD of 80 Billion USD????

$80 Billion import and what was the import in 2018? What was the CAD in 2018?


How much remittwnce we have made in last 11 months? and Exports,?

Imports are down that killing the market already. Who made this country import base?

 

[khansaheeb]

Well he is right

Let's say bankruptcy happens it won't effect the elite.

Infact it may be beneficial for elite since their business may continue to flourish

It will be the equivalent of filing a chapter 11 in the US. The business changes it's name to bankrupt, lays off a large fraction of its workers, scams the investors, resets relationships with other entities and continues as normal. The leaders who got it into chapter 11 get off scot free and are handsomely rewarded with a profitable package.

 

[Mav3rick]

$80 Billion import and what was the import in 2018? What was the CAD in 2018?


How much remittwnce we have made in last 11 months? and Exports,?

Imports are down that killing the market already. Who made this country import base?

Are you sure you want to bring in 2018? Cause I will have to bring in 2013 - 2018 and compare it with 2018 to 2022; you will not really enjoy that, trust me.

Imran Khan had stifled the economy, we were on the brink of bankruptcy by the time he was removed from office; simple to understand is the fact that Imran Khan had appointed Shaukat Tareen as his finance minister who is a person who ruined his own Silk Bank; a person who could not fix his own bank was made the FM.....need I say more?

Please do not bring in the PDM Government as I am not here to defend them, as far as I am concerned, PDM inherited a bankrupt state and F'd it even more; Dar is the current architect of our financial mess and his is still not able to control things which he has damaged almost beyond recovery.

 

[ziaulislam]

Are you sure you want to bring in 2018? Cause I will have to bring in 2013 - 2018 and compare it with 2018 to 2022; you will not really enjoy that, trust me.

Imran Khan had stifled the economy, we were on the brink of bankruptcy by the time he was removed from office; simple to understand is the fact that Imran Khan had appointed Shaukat Tareen as his finance minister who is a person who ruined his own Silk Bank; a person who could not fix his own bank was made the FM.....need I say more?

Please do not bring in the PDM Government as I am not here to defend them, as far as I am concerned, PDM inherited a bankrupt state and F'd it even more; Dar is the current architect of our financial mess and his is still not able to control things which he has damaged almost beyond recovery.

Yeah bring it on.
Let's compare the economy numbers between 2018-2022 and 2014-2018.

We can add the CSF 2B$ OF blood money (& ignore coronavirus) even then let's compare CAD, exports, tax to GDP, debt to GDP, export to GDP, CAD to GDP, growth rate and finally the ratings for SP and fitch

Country is bankrupt for a simple reason. No one wants to roll over your debts which normally won't be issue which is simply because everyone noticed the king of bankruptcy ishaq dar is back..

 

[VCheng]

They don't teach such difficult subjects in Hailey College of Commerce for B.Com. degree.

But they do teach them in many madrassas.

 

[Mav3rick]

Yeah bring it on.
Let's compare the economy numbers between 2018-2022 and 2014-2018.

We can add the CSF 2B$ OF blood money (& ignore coronavirus) even then let's compare CAD, exports, tax to GDP, debt to GDP, export to GDP, CAD to GDP, growth rate and finally the ratings for SP and fitch

Country is bankrupt for a simple reason. No one wants to roll over your debts which normally won't be issue which is simply because everyone noticed the king of bankruptcy ishaq dar is back..

Thanks for jumping in, and welcome

Yes, please, by all means bring all the stats and we will discuss them including ratings from multiple lenders/agencies.

Agreed, nobody's is really looking to give us easy passes this time around because of the damage caused to our relations by Imran Khan, and perhaps for other reasons too. Even our friends must be getting tired of frequent bailouts. You may also recall how many conditions Imran Khan had to bend over and accept before IMF released the tranche in February 2022. And then Imran Khan reneged on state commitments with IMF, that was not a good idea and it is a factor because of which we are still suffering.

 

[ziaulislam]

Thanks for jumping in, and welcome

Yes, please, by all means bring all the stats and we will discuss them including ratings from multiple lenders/agencies.

Agreed, nobody's is really looking to give us easy passes this time around because of the damage caused to our relations by Imran Khan, and perhaps for other reasons too. Even our friends must be getting tired of frequent bailouts. You may also recall how many conditions Imran Khan had to bend over and accept before IMF released the tranche in February 2022. And then Imran Khan reneged on state commitments with IMF, that was not a good idea and it is a factor because of which we are still suffering.

Stats all over the internet and has been discussed to death.
Let's just pick up growth(6%), exports(28%) remittances (50%)and debt to GDP ratio (decrease by 8%)
OK let's assume Khan renegade on IMF(which there is no proof just political talk) why didn't miftah Ismail accepted IMF deal when came into power and why did he continues the subsidy for additional 60 days (Khan only kept it for 10days)

What kind BS is this?

We are still suffering because of 70b$ of loans taken without exports or remittance to back it up. Those loans were taken by Nawaz sharif since 1983

You have to roll over these loans and increase your exports which Nawaz sharif has an allergy too