ekoscolary:


How do you make comparison with different bases. How much was crude oil when Sanusi was CBN governor ? The problem is more of fiscal policy rather monetary policy. So guy or doll, your own post does not make any sense.

You have made no sense especially with the name calling. The depreciation in the value of the Naira is connected with the closure of trading at the interbank market by the CBN. This decision which was meant to control speculative activities of some operators in the market is responsible for the depreciation.

Quote me if you have any intelligent response.

Seun pls check your email and take necessary action.

1stCitizen:


You have made no sense especially with the name calling. The depreciation in the value of the Naira is connected with the closure of trading at the interbank market by the CBN. This decision which was meant to control speculative activities of some operators in the market is responsible for the depreciation.

Quote me if you have any intelligent response.

This guy or doll ... So what options does a monoproduct country with depleting reserves has other than devaluation ? So you want CBN to continue to subsidise speculators @ N168/ $1 with our hard earned reserves ?
That is very unintelligent of you and yes ! I quoted you !!

ekoscolary:


This guy or doll ... So what options does a monoproduct country with depleting reserves has other than devaluation ? So you want CBN to continue to subsidise speculators @ N168/ $1 with our hard earned reserves ?
That is very unintelligent of you and yes ! I quoted you !!

The problem with you is that in spite of your limited knowledge, you believe quasi-fantasies written as text book theories are still relevant given the current shift in prevalent global/local economic indices. You are very bold to quote me from an angle so deficient. Let me educate you.

Devaluation is a politically sensitive issue that is bound to have negative repercussions such as increased costs which forces raised import tarrifs, tax and price hikes.Now is not the time.

A devalued Naira inadvertently and instantly pushes up the cost of repayment of debt. CBN's action further widened the discrepancy between official and black market exchange rates which if it becomes too wide, causes numerous economic problems you may be too uninformed to understand due to your limited knowledge.

CBN should have pursued an organized government attempt, either unilaterally or multilaterally, to prop up our sagging Naira through coordinated market intervention. Devaluation is not necessary and is, in fact, disruptive since it interferes with free market forces.

Let's go to your high school text book theories.... devaluations frequently coincide with broader economic turmoil such as inflation, instability in the financial markets, and recession, spending is likely to be tight in countries whose currencies have been devalued.

In reality, any trade deficit in a relatively open market system will automatically be translated into a decline in the Nigeria's price levels through the outflow of money that is assumed to reduce prices and, in turn, depreciate the country's real exchange rate and not forceful intervention. Let it happen organically rather than being interventionist.

A rebalancing of the economy towards export-generating, import-substituting, low-tech manufacturing is the only option that will save Nigeria's sick economy and not intervention which negates the idea of market forces determination.

1stCitizen:


The problem with you is that in spite of your limited knowledge, you believe quasi-fantasies written as text book theories are still relevant given the current shift in prevalent global/local economic indices. You are very bold to quote me from an angle so deficient. Let me educate you.

Devaluation is a politically sensitive issue that is bound to have negative repercussions such as increased costs which forces raised import tarrifs(as seen recently), tax and price hikes.Now is not the time.

A devalued Naira inadvertently and instantly pushes up the cost of repayment of debt. CBN's action further widened the discrepancy between official and black market exchange rates which if it becomes too wide, causes numerous economic problems you may be too uninformed to understand due to your limited knowledge.

CBN should have pursued an organized government attempt, either unilaterally or multilaterally, to prop up our sagging Naira through coordinated market intervention. Devaluation is not necessary and is, in fact, disruptive since it interferes with free market forces.

Let's go to your high school text book theories.... devaluations frequently coincide with broader economic turmoil such as inflation, instability in the financial markets, and recession, spending is likely to be tight in countries whose currencies have been devalued.

In reality, any trade deficit in a relatively open market system will automatically be translated into a decline in the Nigeria's price levels through the outflow of money that is assumed to reduce prices and, in turn, depreciate the country's real exchange rate and not forceful intervention. Let it happen organically rather than being interventionist.

A rebalancing of the economy towards export-generating, import-substituting, low-tech manufacturing is the only option that will save Nigeria's sick economy and not intervention which negates the idea of market forces determination.

You have an incurable level of ignorance. It seems you are confused because I'm struggling to understand which magic wand you want CBN to wave and your uninformed position on the weak naira.
You said the CBN governor should be axed and your last paragraph is all about fiscal policy. Is CBN responsible for fiscal policy ?
How else is CBN going to do co-ordinated market intervention which does not negate the idea of market forces determination other than a systematic devaluation of the naira in the face of forex reserves depletion ?
Give specific examples and don't reel out flawed economic theories without making pragmatic sense.
Don't go outside of monetary policies to fiscal policies ( as contained in your last paragrah ) because that is not the mandate of CBN.
I pray you address my points and not reel out economic epistle without making any sense like you always do.

ekoscolary:


You have an incurable level of ignorance. It seems you are confused because I'm struggling to understand which magic wand you want CBN to wave and your uninformed position on the weak naira.
You said the CBN governor should be axed and your last paragraph is all about fiscal policy. Is CBN responsible for fiscal policy ?
How else is CBN going to do co-ordinated market intervention which does not negate the idea of market forces determination other than a systematic devaluation of the naira in the face of forex reserves depletion ?
Give specific examples and don't reel out flawed economic theories without making pragmatic sense.
Don't go outside of monetary policies to fiscal policies ( as contained in your last paragrah ) because that is not the mandate of CBN.
I pray you address my points and not reel out economic epistle without making any sense like you always do.

You are more of a dunce than I thought. What points have you made that are worth addressing. If they were intelligent maybe I would.

As to being ignorant of the synergy between fiscal policy and monetary policy or cordination btw both authorities,I doff my hat for your stupidity. I merely gave you modern day alternatives than rushing towards devaluation. I maintain that Emiefele should be axed because he is an obselete textbook word for word Olodo like you. Textbook says devalue and Olodos run to devalue. I will remind you of your idiocy when the negative effects of this action rears its head.

1stCitizen:


You are more of a dunce than I thought. What points have you made that are worth addressing. If they were intelligent maybe I would.

As to being ignorant of the synergy between fiscal policy and monetary policy or cordination btw both authorities,I doff my hat for your stupidity. I merely gave you modern day alternatives than rushing towards devaluation. I maintain that Emiefele should be axed because he is an obselete textbook word for word Olodo like you. Textbook says devalue and Olodos run to devalue. I will remind you of your idiocy when the negative effects of this action rears its head.

It's very evident that you are a slowpoke arm chair critic. I won't waste my time replying you again.
No regards,

ekoscolary:


It's very evident that you are a slowpoke arm chair critic. I won't waste my time replying you again.
No regards,

You should not have quoted me initially knowing fully well you lack basic capacity to even make a weak or moderate argument on economic policy.

Anyway run along carrying your archaic economics textbooks on top of your empty skull and disappear whenever you see people talking about monetary or fiscal policies in the new age. Olodo!!!

1stCitizen:


You should not have quoted me initially knowing fully well you lack basic capacity to even make a weak or moderate argument on economic policy.

Anyway run along carrying your archaic economics textbooks on top of your empty skull and disappear whenever you see people talking about monetary or fiscal policies in the new age. Olodo!!!

Mumu dullard.
I didn't intend to reply you but for S & P's report currently on front page - CBN has no option than to devalue naira.
It will be in your interest to go read it to revive those dead cells in your brain.
I look forward to your uninformed arm chair criticism response to S & P.
No regards,

ekoscolary:


Mumu dullard.
I didn't intend to reply you but for S & P's report currently on front page - CBN has no option than to devalue naira.
It will be in your interest to go read it to revive those dead cells in your brain.
I look forward to your uninformed arm chair criticism response to S & P.
No regards,

Funny that the first thing that came to my mind when I read that article was your empty skull and I suspected you will quickly jump on it and go to NL to respond.I was not wrong.

It is funny that you could not come up with any argument until you saw an article from an institution that was complicit for causing the 2008-2009 global financial melt down and was indicted for fraud in the US......even complicit in the latest EU economic crisis. Where is your brain?

Trust me. You are not bright at all and never will.

1stCitizen:



Funny that the first thing that came to my mind when I read that article was your empty skull and I suspected you will quickly jump on it and go to NL to respond.I was not wrong.

It is funny that you could not come up with any argument until you saw an article from an institution that was complicit for causing the 2008-2009 global financial melt down and was indicted for fraud in the US......even complicit in the latest EU economic crisis. Where is your brain?

Trust me. You are not bright at all and never will.

My arguments (even before the S & P's report) were in syn with S & P's. S & P is the clear leader in credit research and financial market intelligence for institutions in the world.
Indicted ( probably because of their massive size and high level of involvement in world businesses ) but not found wanting.
I will like to know what you do for a living because of your lame arguments on a rather simple economic issue.
No regards,

ekoscolary:


My arguments (even before the S & P's report) were in syn with S & P's. S & P is the clear leader in credit research and financial market intelligence for institutions in the world.
Indicted ( probably because of their massive size and high level of involvement in world businesses ) but not found wanting.
I will like to know what you do for a living because of your lame arguments on a rather simple economic issue.
No regards,

Not found wanting? Chai!! Olodo I know I have spurred you into some research which is my service to olodos like you. S & P owned up to fraud and had to make settlement.

Have your ever heard of the S&P Greek fiasco or the Brazillian one similar to the self serving(we know whose interests they serve) one given to goons like you to swallow ...hook, line and sinker. S&P has a bad reputation globally and were told to shut up by the Brazilian government when they tried to make unintelligent statements like the one made on Nigeria, which low-esteemed people like you like to buy.

What do I do for a living?.....I educate Olodos like you.

1stCitizen:


Not found wanting? Chai!! Olodo I know I have spurred you into some research which is my service to olodos like you. S & P owned up to fraud and had to make settlement.

Have your ever heard of the S&P Greek fiasco or the Brazillian one similar to the self serving(we know whose interests they serve) one given to goons like you to swallow ...hook, line and sinker. S&P has a bad reputation globally and were told to shut up by the Brazilian government when they tried to make unintelligent statements like the one made on Nigeria, which low-esteemed people like you like to buy.

What do I do for a living?.....I educate Olodos like you.

Why are you showing your crass ignorance in a public forum ? Is S&P a clear leader in its industry - yes or no ? Do you know the difference between indictment & conviction ( like in d case of arthur andersen ) ?
I have been replying you & using other renowned opinions to support my arguments buh your brain is so blocked. So, I give up on you sir.
No regards,

ekoscolary:


Why are you showing your crass ignorance in a public forum ? Is S&P a clear leader in its industry - yes or no ? Do you know the difference between indictment & conviction ( like in d case of arthur andersen ) ?
I have been replying you & using other renowned opinions to support my arguments buh your brain is so blocked. So, I give up on you sir.
No regards,

Who is talking about conviction here? Obviously you are oblivious of the inverse correlation between series of global indictments in various countries and settling millions of dollars over strong allegations to REPUTATION.

No I am not giving up on you yet. It is not impossible for me to educate an olodo like you.

Scammers Beware and be warned!!!