Crazy ideas from BSP officials

What the heck is wrong with the highest-paid “public servants” of the Bangko Sentral ng Pilipinas (BSP)? Why do they keep screwing things up, despite the millions in salaries, perks, and privileges they get paid every month for their much-vaunted “expertise” where money is concerned? Not content with messing up coins that almost look the same despite their different denominations, the BSP has now messed up the paper bills! The editorial (“Furor over polymer,” 7/14/22) noted: “The BSP did say that these polymer banknotes were ‘tough,’ but even then, they should still be ‘valued and handled with care.’ Thus, the BSP enjoined Filipinos to not ‘excessively fold, crease, or crumple’ the banknotes as doing so could ‘leave permanent fold marks.’ Users were also told not to staple the notes or use rubber bands to keep them together instead of paper bands.”

When is the “folding” of those polymer banknotes “excessive”? To what degree of “folding” is the Philippine National Police authorized to arrest violators with fines of up to P20,000 and jail time of up to five years? Why do law enforcers appear so trigger-happy with their handcuffs on the ready to terrorize the people into complying with rules that make no sense? And why, for crying out loud, are rubber bands a big no-no to keep those new bills together? Who keeps “paper bands” in wet market places? So, actually, they are not as “tough” as the current paper bills they are supposed to replace! Sen. Koko Pimentel said: “Parang gusto pa yata nila ilagay sa frame yung bills para kunwari matibay”! The new BSP governor, Felipe Medalla, himself made an absurd suggestion that “Filipinos ‘adjust’ to the new polymer banknotes by getting longer wallets. ‘Dapat ang wallet, singhaba ng pera para hindi i-fold.’”

BSP officials should be paid no more than P1 per month for all the crazy ideas they are ramming down the throats of Filipino taxpayers and consumers!

Rogelio S. Candelario,[email protected]