The convertibility of dirham the mirage adjourned!!!!

July 31, 2017 HASSAN 5 comments

 

– Officials say that we should not be afraid of dirham liberalization because this process will take almost 15 years and we control the horizontal and the vertical of the situation !!, this did not prevent banks and speculators from  Buying currencies like the Dollars and the Euro massively as they were counting on the collapse of dirham and its devaluation which would allow speculators to earn money while falling asleep in their bedroom.

-officials decided to postpone this process after planning it for the beginning of July this year ,this shows that the officials do not control anything, and all what they said before were nothing but bullshit and childishness .

-Furthermore, the flexibility of Dirham means that we move from a fixed monetary regime to a flexible one, therefore  we would suffer from imported inflation due to the depreciation of the Dirham, since Morocco imports much more than it exports, inevitably the Dirham will slide down, and the goods will see their price going up.

-the problem is that the officials (the head of state !!, and his entourage !!, members of the central bank … etc) decided the flexibility of dirham without much discussion or debate and without explaining to people in which sauce they will be eaten, even  the people’s parliament and the head of government know nothing about it and yet these people are paid by the taxpayer.

– for Morocco to be able to face the consequences of Dirham liberalization its economy must be very competitive, some officials naively say that liberalization will lead companies to work hard to be competitive, it is stupid to say That, because these officials put the cart before the horse, the common sense says that it is necessary first to improve the competitiveness of the Moroccan economy before  engaging in this slippery slope, do Not forget what happened to some countries of Latin America like Argentina …. , If these officials really have a memory.

– this leads us to question the degree of intelligence of the Moroccan central bank which gives the impression that it controls nothing after having said that it controls everything, this bank decides without debate under the influence of IMF (The international monetary fund), while we talk in this kind of countries about the importance of democratic society all the time and about  involving the citizen in debates that affect their social ,political life  and their purse.

-the members of the central bank decide the life of the people when nobody has chosen them by a process of voting, this is the case unfortunately of most all central banks of the world ,a death blow to democracy !! .

 

 

 

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