OFWs Call for Remittance Boycott on Nov. 1 & 2

[empy]

galing talaga :clap:

is this movement related in any way with that petition we saw recently about the government subsidizing a "special exchange rate" for OFW's? :bwahaha:

i guess a 2-day remittance boycott will overturn the basic laws of supply and demand, or change the minds of tens of millions of investors, governments and institutional investors around the world whose actions (and bid/ask spreads) set the x-rates of any non-pegged currency :bwahaha:

also, papayag ba ang mga OFW na magutom ang mga pamilya nila sa pasko? maybe all those observing the boycott will all remit on the 3rd, eh di ganun din :rofl01:

hopefully this boycott is purely symbolic, because from a practical perspective, it is useless. sobra na yata ang conspiracy theory laban kay GMA...pati exchange rates akala nila siya din ang may pakana :evillaugh

[wildthing]

Merun akong option...

1) convert their US dollars to Euros (kasi mas mastable yun)...even sa pinas mas mataas ang exchange rate the euros (I think). Everyone knows that it is the dollar that is sinking slowly... and euros is stable and sometimes going up pa nga ang value.

2) Or give their families debit or credit cards to use instead (with varying limits of deposits or credits). Yung mga debit or credit cards na ito (since sa abroad ninyo kinuha) is replenished in the country that the OFW is working...

this way, no dollars or money will actually or physically reach the philippine shores... you pay for your relatives' bill in the country you are working (pede mo pang mareview kung saan nila ginagastos ang pera mo). Hindi rin basta-basta ito maicoconvert to cash to give-away to unwanted mangungutang. If they do need cash, pede namang mag-cash withdrawal sa mga debit and credit cards.

pag walang pumasok na dolyar sa pinas it will probably affect our dollar reserves and thus trigger the increase in the peso-dollar exchange rate. The high dollar reserves of the philippines is also one of the factors kasi affecting the exchange rate.

hope this would make our OFWs happy.

i don't know the possible side effect of this second option in our economy though.

[VtEC]

tuwang- tuwa ka doon sa kabilang same thread at sabi mo " bakit 2 days lang dapat hanggang december ang boycott"...well, i respect your opinion... pls don't get mad at me

ha ha ha ha, sarcasm yon brod.kasi pag 2days alang kwenta yon.

[theveed]

Classic case of uneducated propaganda with no "big picture" vision...

[wildthing]

can't really blame anybody on that, that is how vague our economy is.... relying on dollar and not on infrastructure/manufacturing.... kaya pagdumami dollar, its value goes down (ofw affected immediately).

[the_wildthing]

2) Or give their families debit or credit cards to use instead (with varying limits of deposits or credits). Yung mga debit or credit cards na ito (since sa abroad ninyo kinuha) is replenished in the country that the OFW is working...

At 1 to 4 dollars per transaction medyo cost prohibitive, malamang withdrawhin lang niya ng one time para one time charge din. And since the withdrawals are be made in local currency, there is also a hit on the exchange rate used.

[mazdamazda]

Classic case of uneducated propaganda with no "big picture" vision...

+1 on this.

===

Ok talaga ito... sana nag "boycott" din sila nung bumagsak ang value ng peso to almost P60:$1 a few years ago.

:hysterical:

[minero]

2 day boycott no effect ito. besides this is a distructive gesture. it is not only the phil peso is appreciating against the USD. most world currencies are. some companies give inflation adjustment every year to cover the weakening USD. the real question is why prices of goods and gas are not going down with the stronger peso? pati tuloy NPC kumikita sa stronger peso.

[shadow]

let them be.....wlang mangyayari dyan....

[theveed]

It's so stupid, what'll happen on the 3rd of Nov hehe... engeng.