"Days when the destinies of others are in the hands
of a hypocritical nation have to be terminated, and a
new world order should be put in place, according to
which all nations, big or small, poor or rich, can have
their key interests respected and protected on an
equal footing,”
d part i liked most.

Personally I think China has a lot to say about any new fiat currency or adoption of any commodity-based exchange system,it's in their best interest to rally the support of the BRICS nations especially and the other economies for a new fiat currency.Like someone asked,which currency would that be?
I'm not averse to commodity-based exchange system,but it's a bit more cumbersome and so many economies are not prepared for that,not yet

only one word describes the situation in the states- LAMENTABLE!

Can someone put Nigeria's economy graphically like this? At least we know how much we are worth as citizens?

Billyonaire:

The Global Economy is facing a dilemma. It is a good idea for Nigeria to commence gradual conversation of our SWF and External Reserve to other currencies, the US Default could wipe out securities. Moments like this one, I keep thinking that Democracy isnt the best form of Government in 21st Century, makes me adore Chinese Political System.

chineke kpoo gi oku. democracy is the best any time Any day, poeple have the right to choose their leaders. look you have to make more research the Chinese are the ones that are not telling the truth about their real economic growth by shelling out fudged figures but sooner or later the truth will come out. A situation where a woman will be taken to a rubbish to force abort her pregnancy because she could not pay a fine for conceiving a second child. is that the kind of government you want. be careful of what you wish.

"Days when the destinies of others are in the hands
of a hypocritical nation have to be terminated, and a
new world order should be put in place, according to
which all nations, big or small, poor or rich, can have
their key interests respected and protected on an
equal footing,”
on point.

Billyonaire has seriously upgraded his thought processes.

The knowledge he's exhibiting here is outstanding...

Now this is a thread ... totally enjoying you guys!

I can't help it;i jst hav 2 say it: End Time Thins, New World Order e.t.c. Unfortunately,there's nothin we can do abt it;they're merely fufillin scripture. .:/

Billyonaire:

The Global Economy is facing a dilemma. It is a good idea for Nigeria to commence gradual conversation of our SWF and External Reserve to other currencies, the US Default could wipe out securities. Moments like this one, I keep thinking that Democracy isnt the best form of Government in 21st Century, makes me adore Chinese Political System.

Taa mechie onu gI. you have to be careful of what you wish. a situation where a woman will be taken to a clinicto force abort her pregnancy because she could not pay a fine. is that the kind of government you want

If you go the part of gold or precious metals, you will skew the ratings in favour of select countries who got the resource or means. If you go the currency way, the question will be which currency?
I have forgoten the name of the philosopher who said 'money is best creation of man. It is your tool to buy into the best abilities around. It operates on the premise of exchange of values...' There is just no alternative to currency, only that the said currency will be neutral and a collective design.

like obama men jehova go samah dem end time tinz sha

The fact is any individual or country that oppresses muslims will eventually be destroyed by the Almighty Himself. America is on its way to extinction. So is GEJ.

Ent time sturf....

I saw this coming,but lets see hoe this plays out bcuz the americans are good at surviving politically and economically but the chinese can take its position if the loop holes arent closed on time

I saw this coming,but lets see how this plays out bcuz the americans are good at surviving politically and economically but the chinese can take its position if the loop holes arent closed on time

yuzedo: I just set in motion the process to convert and subsequently repatriate funds in dollars to make a profit on the current margin, especially as private speculation points to a continued devaluation of the naira against the dollar.

From the looks of the above conversation(s), it seems my plan is walking on a tight-rope and the sooner I offload my dollars in favor of the naira, the better for my investment?? Very absurd.

Obviously Absurd, the value of the dollars will not be largely affected except by speculation which will make dollars to temporary lose value. This shake down is largely on the macro economic level.

What will happen, which sometimes make me wonder if US politicians decide to default on purpose, is that, this is a legitimate means of decimating or outright wiping out of debts they owe other countries. Remember that Security and Bonds will automatically lose value and its like you had funds in America's treasury today and tomorrow, the fiscal dynamics renders your investments a total lost.

If America defaults, China and Japan will be the biggest losers, other countries will lose a lot too, and America will be free of much of the debts LEGITIMATELY, but also lose their fiscal ratings and credibility. The dilemma will raise another salient question: Where is safe for nations to invest their External Reserves, where is safe heaven for Sovereign wealth funds and again, which currency should replace the dollar as a universal legal tender.

Keneking: Can someone put Nigeria's economy graphically like this? At least we know how much we are worth as citizens?

you worth 0.3kobo daily

The end of the empire is near!!!!

This house has fallen is actually not for naija but USA.

The whole world has been carrying their shits for too long.

The normal economic rule is for debt to be reduced otherwise it is just a matter of time when your creditors will pull the plug!

Indeed Americans' lifestyle can never be eternally sustainable. Something must give. A global currency is needed still and with America's power, she will fight such alternative(s) to a possible frustrating end.

Indeed, the much-talked-about end of the American empire may be ticking, but I don't think this is it yet. This may very well, inter alia, be part of or path to it.

On the other hand too, I don't think the world will not miss America much if China inherits Uncle Sam's role. Apart from ideological and political leanings, China or her Yuan doesn't look like it for me.

Brymo: God bless American

my beautiful angel

Thanks guys for this enlightenment; this topic has been sounding Greek to me but I think I have grabbed some key points now courtesy of the detailed expose from economic hotheads in the house. Oya American politicians over to you abeg arrange the debt ceiling and save the world economy

cocoduck:
chineke kpoo gi oku. democracy is the best any time Any day, poeple have the right to choose their leaders. look you have to make more research the Chinese are the ones that are not telling the truth about their real economic growth by shelling out fudged figures but sooner or later the truth will come out. A situation where a woman will be taken to a rubbish to force abort her pregnancy because she could not pay a fine for conceiving a second child. is that the kind of government you want. be careful of what you wish.

And where did u get that story? The population/birth control measures used is not dat wicked. Hear dis: since the govt controls a large percent of the economy, notwithstanding their economic practice, they hav a duty to provide basic amenities for all of China. Be it education, health etc... So if a person breaks the birthcontrol policy, the way I see it, the child and mother could be exempted from enjoying some of those benefits. Please correct me if am wrong.

Donmams: The fact is any individual or country that oppresses muslims will eventually be destroyed by the Almighty Himself. America is on its way to extinction. So is GEJ.

How many Islamic countries are smiling?

rasputinn: Personally I think China has a lot to say about any new fiat currency or adoption of any commodity-based exchange system,it's in their best interest to rally the support of the BRICS nations especially and the other economies for a new fiat currency.Like someone asked,which currency would that be?
I'm not averse to commodity-based exchange system,but it's a bit more cumbersome and so many economies are not prepared for that,not yet

biologicaly dis world is comin to end

BTT: Indeed Americans' lifestyle can never be eternally sustainable. Something must give. A global currency is needed still and with America's power, she will fight such alternative(s) to a possible frustrating end.

Indeed, the much-talked-about end of the American empire may be ticking, but I don't think this is it yet. This may very well, inter alia, be part of or path to it.

On the other hand too, I don't think the world will not miss America much if China inherits Uncle Sam's role. Apart from ideological and political leanings, China or her Yuan doesn't look like it for me.

Do not rejoice about this, people's lives are at stake. Nigeria has about $46 billion there and we also have some billions there on SWF in USA. So, why are you rejoicing. China is the world's factory, if manufacturing slows down, you will find it difficult to afford the Techno phone and that laptop, so you see why you should not rejoice ? America's death, is the worlds temporal burial, the only good news will be emergence of the next world power in waiting. The funny thing is that the next world Economic power is a "Developing" country and not a developed country.

manny4life: It is no surprise that the U.S. is in serious limbo, same thing I was bickering about few weeks ago, the U.S. Debt pose a serious meltdown to the global economy, this time around, it's dragging China, Japan as well as other nations holding its securities. This has been argued several times, it's been confirmed in the last sentence, Chinese economy revolves around U.S. Stability. My sincere advise to our dear country Nigeria and the CBN, Nigeria isn't that rich enough to loose $1billion let alone several tens of billions of $$$ held in U.S. Currency reserves, I join the Chinese people

It's time for the world to be De-Americanized

So what are your alternatives in terms of diversification?

manny4life:

Exactly!

As for me, I'd say let's gradually introduce the gold trading/exchange system. We need a system with "VALUE" and not some fiat currency that holds the world hostage. I like the U.S., but it's time to call a spade a spade. I just don't know what currency you're gonna trade with, the Yuan is definitely not a good option because they deliberately devalue their currency, the Euro isn't really advisable because theirs isn't really stable. So which other currency do you suggest?

Please enlighten me a bit on what you mean by Yuan being devalued deliberately.

This is what you get when you put an underachiever in the white house and elect to having only career politicians as leaders.

The American economy is a mess owing to years of mismanagement, wasteful spending and high level corruption.

The big corporations and banks in the U.S. with help of their media wings have been dictating to Americans who they should elect as their leader and their puppet. The narrow it down to two horse in whichever electorate outcome they still get to control the white house and America's local foreign affairs. You know them as the strong lobby groups of Washington.

It wasn't always so with America. On the contrary, Americans in the past used to select and elect the most successful, educated and enlightened individuals amongst them to represent them in the Senate. Men of industry such as Thomas Eddison, George Washington, FDR were all had successful careers before entering politics with the sole motive to improve society.

Then a gradual shift began just after WWII, were the U.S. Military emerged as the most powerful war machine industry and their Generals were celebrated in the press. Ike Eisenhower, a five star General and head of the entire allied war campaign was elected into power. Ike lived up to the billing and his tenure as President is co-incident with the most prosperous period in American history, The Baby Boomer Generation.

But technology has a way of changing and altering society and the advent of Television changed the electorate view on how a politician should be assessed, this gave rise to celebrity politicians who were able to dazzle and captivate millions of Americans in their homes. Looks took over brains. The first of which was JFK who later became to be known as a morally bankrupt individual. There is a common theory that if Americans were able to have seen FDR on a wheel chair on live television address them rather than the radio of it's time, they (American elect) won't have voted for him.

From JFK it got worse with Americans electing about 2 decades later a B-list actor and head of the American Actors Guild Reagan. The legacy of Reagan's administration has been viewed as one of the worst presidencies ever with heavy cuts to social spending and a huge increase in Military spending. Reaganomics is responsible for the war on drugs which has made American the unenviable classification as the country with the highest incarceration rate.

Obama is just another "actor" in the white house doing the bidding of his puppet masters

Donmams: The fact is any individual or country that oppresses muslims will eventually be destroyed by the Almighty Himself. America is on its way to extinction. So is GEJ.

yaba left escapoo