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RE: Free society and implementing a free economy

in #life8 years ago

"We have been brainwashed to believe the South African rand is weaker than the US dollar. "

Actually, the value of one currency relative to another is dictated by the same mechanisms that dictate the price of any other commodity. The Rand is weak because people who trade in currency only want it at a low price, compared to the dollar. Demand is low, therefore value is low.

Attitudes and beliefs have a strong influence but so do current events (natural disasters, war, politics, economic numbers). The term brain washing seems to gloss over all that complexity.

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Thanks @irvingprime, I know :) It is just a bit frustrating to be the weaker of the two and I definitely used the incorrect wording. I spent a lot of time in Europe in an earlier life stage, where I earned British Sterling. It was amazing for many reasons, but for me mostly at the lifestage where I were I enjoyed the ability to travel frequently, as the currency was stronger every where you went. The currency difference has a huge limiting impact on countries like ours.

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