Comments by "Happy Melon" (@happymelon7129) on "World Affairs In Context"
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The USA keeps saying cheaper currency will push the export higher. The fact cheaper currency will benefit the USA economy more than it benefit to Indonesia.
For example, in 1997, the Indonesia debts in 1997 were USD 105 billion. In 1997, 1 USD = Rp 2,000. Thus Indonesia debts were USD 105 billion x Rp 2,000 = Rp 210 trillion. When Soros came in 1998, 1 USD = Rp 16.800. Indonesia debts thanks to the IMF have risen from USD 105 billion into USD 135 billion. Thus total Indonesia debts were USD 125 billion x Rp 16,800 = Rp 2,100 trillion in one night.
Due to the US manipulation, Indonesia debts have risen.
Rp 210 trillion -------------------> Rp 2100 trillion
This is Rp 2100 trillion / Rp 210 trillion = 10x
So basically Indonesia has been made poorer 10x than in 1997.
Imagine if the USD is manipulated into 1 USD = Rp 2,000 trillion?
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