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turk
USA
3356 Posts |
 Posted - 25 Sep 2007 : 13:38:54
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Kayjatta
First of all explain your 180, no 360, no 720 turn. I thought you were saying constitutional. Now it is common sense. So do you admit that your unconstitutional statement is 'baseless'. Do you?
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you cannot compel the financial institutions to tender in foreign currency
Based on what? Your subjective judgement? If you do not answer my question, I will continue our debate based on your perspective that "paying out can't common sense" vs. my "it is make sense"
In law, legislative assembly and administration must honour public benefits. Actually I am going to go further and make a following statement.
As you say it must be paid out in dalasi. I say that "not paying out in pound as an option" is illegal. Let me tell you why.
First, the agent, western union collect this money in UK, or yankeestan, or other european country. When I send money to Turkey, I am being asked if payout should be euro, dollars or turkish. I usually choose Euro. The agent, western union is doing unfair trade that one send money in i.e. sterling and that person do not have option for payout to be sterling or dalasi. This is not fair. And western union with the monopol or oligopol attitute forces the sender to accept the rate. Is this rate ratified by Gambian Government? No. Therefore it is not for the public benefit. It is like taxi driver charge 50 dollars per km. Contrary to what you are saying, actually Gambian government is doing unconstitutional act because it fails to protect gambian public.
When money comes to Gambian representatative of agent, western union, it pays out in dalasi while the sender have sent pound. The money come-in in foreign currency. Western union is forcing receiver to exchange their money sterling at specific exchange rate. This is actually criminal activity to force consumer to dictate the specific price. Ideally receiver should have choice to look for better rate.
Dalasi being legal tender argument has no public benefit for the topic we are having. Paying out in dalasi has no benefit to sender, receiver, gambian government, gambian economy and gambian public. This situation only serves western union, which is a yankeestan company. Considering your pro-yankee attitute. I understand your support for yankee corportation and their benefit instead of gambian people. Over to you.
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diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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mbay
Germany
1007 Posts |
Posted - 25 Sep 2007 : 13:46:01
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That's is the case, whom to be trusted,
By the way this is the right way you should do by taking an opening an account.I personal have done the same but some time my people need quick money, so i just call the agent for doing it for me, but there is also much trust among us. but you are right ,the world is full of strangers !
look out here for the exchange rats.
http://www.cbg.gm/
quote:
Originally posted by jambo
mbay, can you suggest how this should be done in the UK, who would we trust, a few did support Bayba, but recent postings have suggested things are not well there. Bayba is Gambian owned and at least i felt I was doing something there.
On my next trip I will seriously look into opening a bank account in gambia, not sure if this is the right way, but need to look at all angles.
SO WHAT IS THE RATE TODAY
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Edited by - mbay on 25 Sep 2007 13:50:19 |
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turk
USA
3356 Posts |
Posted - 25 Sep 2007 : 13:50:02
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It is great some gambian organization serve gambians in western contries. Or sending money to banks would be ideal. I am sure there are other ideas, but gambian government must act and legislate the situation further open crown corporations operating in major cities for money sending money.
Eve
Of course it is very convenient. What I am saying, there is no alternative. And Gambian government certainly do something about it. Didn't they give license to operate western union in Gambia. Why do I have option about payout in Turkey in euro, dollars etc but not have same in Gambia? Is turkish government smarter than gambian government? |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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Eve
Gambia
344 Posts |
Posted - 25 Sep 2007 : 13:50:18
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| but there is also much trust among us. never trust people |
gambian |
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turk
USA
3356 Posts |
Posted - 25 Sep 2007 : 13:52:41
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mbay
quick money? You may tell your people that you will send money to them instead of every month, four months. This way you pay service fee once. Even if you send money to your people via someone going to Gambia, that is even better. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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mbay
Germany
1007 Posts |
Posted - 25 Sep 2007 : 13:54:20
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Thats A WRONG side of life !!!
quote:
Originally posted by Eve
but there is also much trust among us. never trust people
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Edited by - mbay on 25 Sep 2007 13:54:39 |
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jambo
3300 Posts |
Posted - 25 Sep 2007 : 13:57:20
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| Turk, that is so much food for thought, hmm, re think my strategy, are you sure you are not running for a ministerial position. |
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mbay
Germany
1007 Posts |
Posted - 25 Sep 2007 : 14:08:31
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Thats right,but what i means with quick money is only if something urgently comes up.
sending moneys today day fees is almost like i quarter of the amount one is sending.
http://de.finance.yahoo.com/waehrungsrechner
http://www.cbg.gm/
quote:
Originally posted by turk
mbay
quick money? You may tell your people that you will send money to them instead of every month, four months. This way you pay service fee once. Even if you send money to your people via someone going to Gambia, that is even better.
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Eve
Gambia
344 Posts |
Posted - 25 Sep 2007 : 14:10:58
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| Aha |
gambian |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 00:17:06
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Turk , i am going to make one more attempt to simplify this for you, I do not know if you want me do so in Arabic or what , but this is the point. I do not personally like the rate Western Union offers, I only use their services when I have to. I have sent money to the Gambia for many years, mostly through the informal sector. Although the informal sector's rate is often better , a lot of them also pay in dalasis and sometimes it takes days before my brother receives it.
Western Union i believe is a registered business in the Gambia, required to operate under the applicable laws of the Gambia.The Gambia government benefits from this business also. Now you are advocating that the Gambian parliament should pass a law requiring Western Union to pay in Dollars and Pound sterling.What would be the rationale for this, you still gonna have to exchange that foreign currency into dalasis either at the banks or the black market because you are not going to carry out your consumer transactions in foreign currency. The Gambia is a sovereign nation (and also an economic entity) whose sovereignty and economic existence resides in its constitution.The Gambia's existence as an economic entity and a sovereign nation is reflected in the dalasi as a legal tender. Can you now see the fact that legislating against transactions in the dalasi undermines the Gambian economy and sovereignty in the long run? Can you ultimately see that this is contrary to the will of the Gambian constitution ?
I think one time I send money by Moneygram and my bother received it in dollars , and a few times my black market agent also paid my brother in dollars. This is really cool , but money transfer agents have no legal obligation to pay in foreign currency. If you are sending money from U.K. or Australia , does Western Union force you to pay them in dollars ? I thought you paid in the local currency? Do you think the government and law will allow Western Union to ask money senders to pay in dollars? What implication will that have on their economy?
Please , go and read Foroyaa's discussion of "the appreciation of the dalasi against the dollar and the pound". This article is not exactly on point here but atleast it will give you some sense of how the currency market operates.
Lastly , i am no expert in finance or economics and i definitely stand to be corrected by more knowledgeable persons here, but i think this afterall common sense that should not be hard for you to see...
Good luck, my friend. |
Edited by - kayjatta on 26 Sep 2007 00:28:50 |
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 03:11:37
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quote:
Turk , i am going to make one more attempt to simplify this for you, I do not know if you want me do so in Arabic or what , but this is the point.
Simplify, arabic? Why not turkish? Turks are not arabs. I am lost again. I am shocked with this because you are telling me I do not understand you? I understand you completely. The problem you do not realize why you are wrong. Let me clarify. You said my proposal that Gambian government make legislation on how western union operates in terms of payout. Do you think as a soverign government gambian government can do that? Can they tell western union to pay out money in sterling or euro? Yes they can. You said this would be unconsitutional. When i challenge you to support evidence on your claim. You could not. Because simply your claim is wrong. My proposal would not be unconstitutional because constitution has no reference in it. You basically made a wrong statement. Actually soveregnity you repeat actually give gambian government right to legislate how western union operates. Did you understand?
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Western Union i believe is a registered business in the Gambia, required to operate under the applicable laws of the Gambia.
With this statement you just prove your unconstituitonal claims is WRONG. you just admit western union operates under the laws of the gambia. Not constitution. Constituion is a law above the law how western union operates. Constitution law and the law is setting how to pay out money transfer are 2 different things. So it is possible to change how western union pay out will be and that has nothing to do with constitution. Please verify that. If you can't i will re-write in wolof.
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The Gambia government benefits from this business also. Now you are advocating that the Gambian parliament should pass a law requiring Western Union to pay in Dollars and Pound sterling.What would be the rationale for this, you still gonna have to exchange that foreign currency into dalasis either at the banks or the black market because you are not going to carry out your consumer transactions in foreign currency.
1. The rationale is the fairness. I send money in sterling. I want the receiver to have option to receive in sterling or dalasi. I have the same freedom when I send money to turkey. Consumer rights.
2.The other rationale is, as i mentioned before. The exchange rate. WHy do I have to accept the ridicoulus exchange rate. If i exchange one of the exchange office in senegambia, I get much better rate. Why should western union gets my money. This would benefit to gambian people.
3. Another is foreign reserve. Gambian people and importers are dying to have foreign reserve so scare. Instead of foreign reserve going to your yankeestan corporation, i want foreign reserve going to gambia.
quote:
The Gambia is a sovereign nation (and also an economic entity) whose sovereignty and economic existence resides in its constitution.The Gambia's existence as an economic entity and a sovereign nation is reflected in the dalasi as a legal tender. Can you now see the fact that legislating against transactions in the dalasi undermines the Gambian economy and sovereignty in the long run? Can you ultimately see that this is contrary to the will of the Gambian constitution ?
With above statement I am convinced you still do not get my constitution argument and you have no idea how economy works. Have you ever seen one of the major economic indicator 'foreign reserve'. Especially for a country like gambia where dalasi has no player in the world market. GAMBIA NEEDS FOREIGN RESERVE. Diaspora has significant input to national economy. GOVERNMENTS LIKE TURKEY, ARMENIA, ISRAEL DIES TO GET DOLLARS, POUNDS, EUROS from armenian, jewish and turkish diaspora who lives in usa, france and germany. When gambian want to import any product, which currency will they use? Dalasi? Anything you import, the payment must be in foreign currency. Dalasi is not world currency like dollars, pounds, euro, lira etc.
I am glad you are not economist in gambian government. You know what is bad for gambia. This is really, your statements good example how government would harm their people.
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I think one time I send money by Moneygram and my bother received it in dollars , and a few times my black market agent also paid my brother in dollars. This is really cool , but money transfer agents have no legal obligation to pay in foreign currency.
You are getting funnier. You admit it is good. But you are against government to force agent to pay out with options? I am lost.
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If you are sending money from U.K. or Australia , does Western Union force you to pay them in dollars ?
I thought you paid in the local currency? Do you think the government and law will allow Western Union to ask money senders to pay in dollars? What implication will that have on their economy?
I pay in local australian dollar to send money via western union. However when I send money to Turkey, I have option for pay out either usa dollars, euro or turkish lira. Not for gambia. Because turkish government smarter to have legislation for western union to payout optional. Gambian government is not.
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diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
Edited by - turk on 26 Sep 2007 03:13:36 |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 06:26:21
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| Turk, I did enjoy and appreciate your contribution with regards to this topic. You can be rest assured that I benefitted somewhat from hearing your perspective.Good luck! |
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 06:39:26
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| you are welcome anytime. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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jambo
3300 Posts |
Posted - 26 Sep 2007 : 10:10:49
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| turk and kayjatta, i have so enjoyed this posting, it was intelligent, informative, thoughtful and funny. thanks |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 10:30:17
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| Yeah, that was fun i enjoyed it a lot . I just can't have enough of Turk...Was like Asimov and John Ciardi. |
Edited by - kayjatta on 26 Sep 2007 10:32:45 |
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