Archive for the ‘Philippine Money’ Category

We always thought that tyranny or dictatorship form of government is the sole culprit that kills freedom of expression for it results into extra-judicial killings of journalists and writers but known patron of arts and culture in the Philippines which have authored the law that has created the National Commission for Culture and the Arts (NCCA), that is, Senator Edgardo Angara, poor and bad economy also kills press freedom.

He stated this on his speech at the Communication Expo 2011 in Boracay Philippines recently,s aying it is because poor economic status of the country makes broadcasting and publishing hard and difficult because financially poor people according to him, will not opt to buy either published materials like newspaper or spent time buying bad news on TV but would rather work extra more hours to have more money for their essential needs to cope with the decreasing buying power of every monetary value or whatever bill or coins they may have in their pockets.

“The free economy — where demand and availability dictate price, especially of oil, and with it, newsprint, ink and electricity — is killing freedom of expression. It is killing free expression far more effectively than tyranny ever could… The greatest threat to press freedom and freedom of expression is economics….”

With what is going on the current poor and retarding economic status of the Philippines under the Aquino government because of Aquino administration under spending and suspension of economic projects that will suppose to boost the economy of the Philippines, according to Senator Edgardo Angara, the traditional press has been affected by it; production and distribution cost of printed materials become costly and people with less money or people without extra money will not be able to afford a budget for it.

“Today, our economy’s growth has slowed from a little over seven to a under four percent. The situation for media and other traditional forms of communication will only worsen as the cost barrier to press freedom — the wall of production and distribution costs around free and effective communication — rises ever higher.”

But he added that the “new economy” created by the world wide web or by the internet,have somewhat salvage traditional press freedom from banckruptcy due to poor and bad economy just like what happen to The New York Times he said,despite of the poor economy the Philippines have now on the administration of PNoy.

“But the new economy has also provided the greatest means of liberation….technology has opened a new frontier of communication where the material cost is minimal compared with the intellectual and imaginative demands. One needs more mind, memory and imagination to communicate effectively through the web than on the printed page..”

But in my opinion, credibility of the publishing company and their printed products also plays big role on killing one’s freedom of expression through printed mediums aside from tyrannical government and poor retarding economy. For who will buy one’s printed products or printed materials like newspaper if the buying public do not trust and believe anymore one’s printed materials?

Whatever the situation may be, in my own opinion, credibility kills more also press freedom than having a poor economy for people buy something if they trust and believe on it; whatever it cost, if they trust and believe it, they will still buy it.

If people believes on your product, though one’s country have poor economic status and though you raise or increase the cost or prize of your printed materials or any product you are selling to the public, people will still patronize and buy your product because of your credibility to them or because of their trust and faith in your product. Whatever happens, if they still have trust and faith on your printed materials, surely poor economy cannot kill your press freedom.

Furthermore, not only credibility but also people’s thirst for credible and sound information and knowledge makes your publishing company going strong despite of poor economy. But if they don’t believe and trust your printed materials and people are not inclined to sound information and knowledge, though you may be on a strong economy, it will still kill your press freedom and lead your publishing company into bankruptcy.

It seems the Aquino government is greedy in collecting money from the Filipino mass and now want to tax the voluntary contributions of the self-employed worker and own- account workers like vendors, migrant workers and jeepney drivers in their SSS, GSIS, Pag-IBIG and PhilHealth account without giving back the collected funds to the public by building public infrastructures that will help the Filipino mass in reciprocation to what was taken away from their salaries or wages. For up until now, the Aquino administration have not show any proof of its own projects whose funds comes from the government revenues it has collected, especially funds collected by the Bureau of Internal Revenue (BIR).For some government projects that yields economic returns lately are the fruits of the hard work and investment of the past Arroyo administration wherein Noynoy have grab credits as its own projects of its administration. For the Aquino administration has been known to be under spending the government funds they have collected but spending it or disbursing it instead on something that doesn’t help and reciprocates the hard works of every Filipinos like giving funds to the enemies of the Republic (MILF and ABB) and setting up showbiz oriented concepts like setting up facebook account, own youtube channel and now own TV show (??)

Now, the Aquino government proposal to impose taxes on voluntary contributions to social security systems, health systems and related others through Memorandum Circular No. 53- 2011 issued by the Bureau of Internal Revenue(BIR),stating that the voluntary contributions to the SSS, GSIS, Pag-IBIG and PhilHealth are subject to government tax have gain criticism from Congresswoman Luz Ilagan saying that to impose taxes on voluntary contributions is wrong because the so-called self-employed worker and own- account workers like vendors, migrant workers and jeepney drivers could barely manage to save for their retirement or for emergencies and imposing tax to their extra hard earned money will add more to their financial poverty and could contribute more to growing poverty rate in the Philippines.

“These are hard earned savings that come from working extra hours, taking more hazardous jobs and belt tightening by scrimping on the family budget. There is no way that the Philippine government can justify the taxes being imposed on the informal sector as it consistently cuts back on spending for social services,”..She said.

The congresswoman also cited the cuts on 2011 National Budget of the Aquino government for education, health and housing reflects Noynoy camp’s deprivation of government services especially to the poor Filipinos.

The congested known capital of the Philippines with almost 12 million people and growing have lower employment rate? It is not implausible that Metro Manila though it has a million souls yet have less workforce for the populace composes thousands of squatters who have no permanent job or are jobless, but just resorting on criminal activities like theft to get through everyday their Manila life.
The drop in employment or the decrease on the number of employed workers on Metro Manila’s seven hundred large business enterprises signifies growing rate of unemployment within Metro Manila despite its growing large population.

According to the Statistics of Bureau of Labor and Employment Statistics (BLES),employment in Metro Manila on the said seven hundred business enterprises decreased by 2.05 percent this second quarter of the year 2011.The Bureau of Labor and Employment Statistics (BLES) blame this employment drop on the decline of Philippine economy.

“This occurred as the4 domestic economy – measured in terms of gross domestic product or GDP – slowed down considerably to 3.4 percent in the second quarter from the robust 8.9 percent growth in 2010…measured in terms of labor turnover rate, employment growth declined as hiring or accession rate fell behind separation rate by 2.05 percentage points..”

The accession rate is 8.60 percent while separation rate is 10.65 percent, thus it yields 2.05 percent decrease.

On accession rate, according to the Statistics of Bureau of Labor and Employment Statistics (BLES) is reduced to 21 workers per 1,000 employed persons were hired on the workforce and 86 workers per 1,000 employed were hired due to replacement from the fired or terminated workers or resigned workers.

While separation rate is increased into 107 workers per 1,000 employed were either terminated or fired from their jobs or have quitted/resigned from their jobs.

The business enterprises that gains highest separation rate are:

(1) Real Estate and Renting and Business activities; gaining 9.43 percent either employee initiated quits or fired by the employer;

(2) Manufacturing business; gaining 6.04 percent either employee initiated quits or fired by the employer;

(3) And Hotel and Restaurants; gaining 6.02 percent either employee initiated quits or fired by the employer.

The separation rate is more of employee initiated quits or resigns having 6.67 percent than employer initiated quits or than being fired or terminated having only 3.98 percent. Thus, signifies that most workers in Metro Manila are not personally satisfied in their work or jobs or somewhat not committed.

Why the current Philippine President Benigno “NoyNoy” Aquino III always have late responses on issues that needed urgent response from him? Does he is afraid to fall short into graft and corruption something? He is saving his own face while sacrificing the Filipino mass from urgent response from him? This is selfish act. Does he forget that he is now the President of the Philippines?

Late respond on the August 23 Bus Hostage; Late respond on the Mindanao flooding; late respond on the Central Luzon flooding cause by Typhoon Pedring, Typoon Quiel and the five dams; and now will make another late respond to correct the worsening economic status in the Philippines by finally disbursing the most kept overflowing billion government funds into what this current Philippine government describe as “fiscal stimulus package” worth 72 billion pesos at the end quarter of the current year to boost the economy. But some economists were bitter regarding this and said:
“..It is not a real fiscal stimulus package.. It’s just offsetting under-spending by government agencies so far this year…”,“I call it a catch-up plan with a twist. The tag ‘fiscal stimulus’ is a misnomer..”

They become bitter regarding PNoy’s so-called year ender “fiscal stimulus package” because it will not salvage everything that has been already lost because of PNoy administration’s under spending; that effect will only be minimal and the intention of the spending is just a mere a “papogi” agenda again and not with the real intention to boost the economy. For if the PNoy administration is really intending to boost the Philippine economy, it will not do subsequent cancelling of economic projects only because of the fear of “corruption” but will expend the funds for the sake of the general mass. But it seems PNoy is just only thinking about himself of how he can be “corrupt-free” president.

Even PNoy’s Public-Private Partnerships (PPP) Program is going nowhere due subsequent cancellation of projects and plans and have no clearer and concrete projects and plans to established and this is all due to PNoy’s phobia to be tainted with “corruption”. Or if fear of corruption is not the main hindrance of PNoy administration why his administration does not release funds, so what’s their problem? What more disappointing to the economist is that PNoy is an economic graduate yet he has no concrete economic plans for the Philippines; or is it he is just below the average economic student then?

Actually, late responses are always either due to lack of care or bad coordinating team due to incompetent members

What is the current real score of the Philippines in terms of global competitiveness in the midst of prevailing world economic setback?

According to the latest export data from the National Statistics Office (NSO),only 3.3 percent of the last year’s revenue was gained, that is from last year $28.25 billion into $ 29.19 billion only.
The global competitiveness of export products of the Philippines has been down this year and the Bangko Sentral ng Pilipinas(BSP) said the setback of growth on Philippines export industry is due to low demand from the major export countries where the Philippines export its export products, that is from the United States and Europe.
This is so because America and Europe has recently experiencing financial problems and most citizens on America and Europe are losing their jobs or some are already becoming jobless as some international reports said. Actually, poverty incidence rate in America is now 15 % and it is due to increasing unemployment as the international reports also said.

Thus, since the prime countries where the export industry of the Philippines mostly earn is now in great brink of economic collapse, the Bangko Sentral ng Pilipinas(BSP) urges Pinoy exporters to be more competitive and find new market for their export products as well as urged them to improved the quality of their respective export products to gain better and increased revenues.

Moreover, what weakens more the revenues of Pinoy exporters is the rising value of Philippine peso on foreign exchange market which of course lessens their dollar revenues. Thus, in counter urge of the Bangko Sentral ng Pilipinas(BSP) to improved the quality of their export products and find new foreign markets for their markets, they too urges the Bangko Sentral ng Pilipinas(BSP) to deliberately weaken the Philippine peso by buying more dollars to strengthen the value of dollars in the Philippines. But Bangko Sentral ng Pilipinas(BSP) refused to do so though the Bangko Sentral ng Pilipinas(BSP) admitted that they actually buy and sell foreign currencies but it is not to kill the Philippine peso neither to boost the Philippine peso for according to Bangko Sentral ng Pilipinas(BSP),that is not their policy.

Thus, Pinoy exporters were left by the Bangko Sentral ng Pilipinas(BSP) ‘ advice to be more competitive and develop new market for their products if they wanted to gain higher revenues in the future despite some foreign economic setbacks.

In connection to this lukewarm status of the export industry in the Philippines, will PNoy’s idea of exporting the Pinoy coconuts to United States market, a very good idea to strengthen the export industry in the Philippines?

Actually,it is a very bad idea for the United States is already on the brink of economic collapse,yet he want to sell our Pinoy coconuts to them? What will the Philippines gain? Smells something fishy going on with PNoy and the United States.

Moreover, if Pinoy coconuts will already become a prime exclusive export products, then there would be no coconut juice left for Filipinos to drink their own coconut juice and will be force to Buy their Own products!!!,just to strengthen US failing economy???!!! What a big Slap on Filipinos PNoy is doing! What Benigno “Noynoy” Aquino III is doing;is he pro-Pinoy or pro-America disguising to be pro-Pinoy?

Is PNoy selling the Philippines to America? In exchange for what?

Philippine Money Have New Look

Due to frequent and uncontrolled proliferation of the counterfeit current Philippine money, the Bango Sentral ng Pilipinas or BSP have decided to force retirement of the twenty five(25) year old design of Philippine money to counter those who loves to counterfeit the Philippine money. This time, the design will be hard to mimic.

From twenty pesos (Php.20),fifty pesos(Php.50), one hundred pesos (Php.100), two hundred pesos (Php. 200), five hundred (Php. 500) and into one thousand pesos (Php. 1000) the redesign has been imposed. All these Philippine peso bills with their new designs have all on their reverse sides the Philippines top tourist spots. Take for example on one hundred pesos (100) bill on its reverse side there you will see Mt. Mayon and the Butanding or whale shark of Donsol Sorsogon Philippines; while on the two hundred peso (200) there you will behold the tarsier of Bohol Philippines as Bohol’s chocolate hills; With five hundred peso (500) bill, the face of former Philippine president Corazon Aquino is now together with the face of her late husband Benigno Aquino. But the rest of the front side of the Philippine peso bills, except for five hundred pesos (500) the person featured on respective Philippine money remains still.

These new designed Philippine money is out this month that will eventually eclipse the former design in the future.

However, recently these new designs on Philippine bills have spark controversy because of some errors in designs like :

(1) Not correct color of the rare native bird in the Philippines – the blue napped parot.

(2) Wrong placement of Unesco World Heritage Site -Tubbataha Reefs Nature Park- as well as Palawan’s St. Paul’s subterranean river,which is also a soon to be Unesco World Heritage Site because it is an entry for the new seven wonders of the world.

(3) Batanes Group of Islands was included on the Philippine map

Let us just hope that these errors on new designs will be corrected as soon as possible lest the efforts and money put forth for it will be wasted away and the counterfeiting of the old designs of the Philippine money will continue to flourish.

Money is important as we all know it but it is also important what is represented on be represented rightly for if it is poor represented or not properly represented, the design could be a breeding ground for  more counterfeit money to be counterfeited because of its erroneous designs though they are new fresh designs. The design also on the money represents what country this money is being used and what country is the money, thus correct designation and representation should be carefully admonish so that there would be no any problems that will arise from such representation.

But some will say, “It is just a design”. Yes, it is just a design but this design on the money you are using is not “just” only, it matters as I discussed above. For without proper design and representation in the money, money can be exploited or use anywhere in the world without any security protocols or security precautions that can be incurred on using such money that has no any representation whose money is it. Imagine using money without any designs and representation on it?

The designs and representation on the money shows the limitations and restrictions on the usage of the money of where only it should be used and should not be used. The designs and representations draws a line how it will be used by the user of it.

Counterfeiting the Philippine Money

Philippine money is not spare from being pirated aside from Philippine movies and songs which are mostly counterfeited by some Filipinos themselves.

Pirated money is often the most hard to detect unless you are a money expert in making a legitimate money for your countries or a bank official who is in charge of designing a legitimate money for your country. But if you are just a mere ordinary citizen, you better watch out lest you do not know you are either using or receiving a fake Philippine money which could also bring you to a false accusation by the Philippine bank of proliferating a fake Philippine money perchance the money you are using is detected as fake by the fake money detectors on leading shopping malls and establishments. How can you escape this undesirable incident?

However, you don’t have to worry because the national Philippine bank or the BSP ( Bangko Sentral ng Pilipinas) have issue what Philippine money is being counterfeited and how to detect the fake from genuine.

The Philippine moneys that are mostly counterfeited are the 500 pesos bill, the 5 peso coin, and the 10 peso coin. What does Ninoy have to say about this if he is still alive that his own money (the 500 peso bill) is the favorite Philippine money the money counterfeiters love to fake? Will he able to say again his famous statement to his Beloved Filipino: “The Filipino is worth dying for”? Think again, Ninoy.