gobbledonk Posted January 12, 2003 Report Share Posted January 12, 2003 Guys, I know this is a naive question, but exactly why is it illegal for two people to exchange currencies ? If I am at the airport, ready to head home, with 25,000 baht in my wallet and you get off the plane with AUD, why cant I agree to sell you my 25,000 baht ? That's all the currency exchanges do, and the black market guys do the same thing, albeit illegally. Is the problem destabilisation ? I thought the whole idea of free markets was that the market would determine the value of a given currency : governments would only intervene when absolutely necessary. I know - I hold a naive view of the world, and I'm sure there are dangers inherent in dealing with the black market, but it just seems that the law is there to prop up the commissions of a (relative) few insititutions. Link to comment Share on other sites More sharing options...
lopburi3 Posted January 13, 2003 Report Share Posted January 13, 2003 Control perhaps? Joe received 25,000 pigets (marked money) in exchange for illegal substance. Exchanges with Frank for 10,000 pigots. Next week Frank is found using marked currency (pigets) and goes to jail. Joe has laundered his money. Frank is in deep dodo. Link to comment Share on other sites More sharing options...
gobbledonk Posted January 13, 2003 Author Report Share Posted January 13, 2003 Thanks, Lopburi - its as good an explnation as any. Kinda explains why an innocent, trusting type like myself should steer clear of the Black Market ...... Link to comment Share on other sites More sharing options...
Redbaron Posted January 14, 2003 Report Share Posted January 14, 2003 No taxes on the profits of non registered/illegal transactions. Link to comment Share on other sites More sharing options...
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