The value of dollar is driven by Petroleum products. This is called Derivative Trading. US* and most of the countries including India can only print currency based on the worth of the gold they own. US* has abruptly stopped valuing its Dollar with Gold 70 years ago making chaos on many countries who were doing business with them at that time. US* knows that Petrol is the next big thing after Gold in 20th and 21st century (equally valuable as Gold) so they mostly using diplomatic relations and to some forcefully made agreement to the Middle East countries to sell their petrol only in Dollars (exception countries always got crushed militarily blaming on various other reasons). And in return US* helps Middle East Kings protects their kings and heirs. These kings collect all the dollars and invest back in US* economy based on US requests marketing about the returns. Also middle-east countries are still paying back the Debt to US* for constructing Roads, Buildings and also Oil industry in their countries.
That is why US* print their Dollar as legal tender for debts. This mean if you don't like their US* Dollar and go to their Governor and ask for repayment in form of Gold they are not entitled to give you Gold, because dollar currency does not promise you to pay back anything (debt) in return. But Indian rupee is and the reason is below.
You observe Indian Rupee, " I promise to pay the bearer..." is clearly printed along with the signature
of Reserve Bank Governor. This mean, if you don't like Indian Rupee and ask for repayment, Reserve Bank of India will pay you back an equal value of gold.(Actually there may be minor differences in the Transaction dealing rules, but for easy comprehension I am explaining this)
Let us see an example. Indian petroleum minister goes to Middle East country to purchase petrol, the
Middle East Oil minister will ask you to pay a Dollar for a liter of petrol. Indians has two choice, 1) Use the reserve dollars we earned by exporting goods and services to US*, this include exports of spices, textiles and also earnings we are getting from IT industry, 2) Buy US Dollars from US* in exchange of gold or worth of Indian Rupee. If we want to buy US* dollar by giving other commodities, US* Federal Reserve will take a white paper , print Dollars on it and give it to the Indian Minister. For them all it takes a white paper and printing cost, for us it’s our hard earned money. This is one of the biggest reason we lose the value of our currency. ITS MOSTLY DUE TO INDIA BUYING DOLLAR OR SPENDING HARD EARNED DOLLAR FOR PETROLEUM PRODUCTS.
AS A COUNTRY NOW WE HAVE NO POWER TO CHANGE ANY OF THESE RULES AROUND OIL OR DOLLAR and also our Politicians has given access for their business to expand in our country big way. THE ONLY WAY WE CAN MAKE DIFFERENCE TO THE INDIAN ECONOMY BY FOLLOWING TWO SIMPLE STEPS
1) Limit the use of Petroleum products. - This will help the country to save hard earned dollar and not to sell our assets to buy dollar to buy petroleum products.
2) Reduce buying foreign products from India - This will help stop the inflow of our currency to foreign countries.
For example, more than 30,000 crore rupees of foreign exchange are being siphoned out of our country on products such as cosmetics, snacks, tea, beverages, etc. which are grown, produced and consumed here.
A cold drink that costs only 70 / 80 paise to produce, is sold for Rs.15 and a major chunk of profits from these are send abroad. This is a serious drain on INDIAN economy. We have nothing against Multinational companies, but to protect our own interest we request everybody to use INDIAN products only at least for the next two years. With
the rise in petrol prices, if we do not do this, the Rupee will devalue further and we will end up paying much more for the same products in the near future. What can you do about it?
Remember its Indian Economy Going Down and not US* economy going up.
INDIAN economy is in a crisis and in your hands. Our country like many other ASIAN countries, is undergoing a severe economic crunch. Many INDIAN industries are closing down. The INDIAN economy is in a crisis and if we (people) do not take proper steps to control those, we will be in a critical situation.
It's obvious that you can't give up all of the items mentioned. so give up at least what you can for the sake of our country and people! We would be sending useless forwards to our friends daily. Instead, please forward this to all
your friends to create awareness as a first step towards helping our Nation.
JAI HIND
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