Why Can't The Dollars Be Made World's Only Unit Of Currency? - Business - Nairaland
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| Why Can't The Dollars Be Made World's Only Unit Of Currency? by dubemnaija: 1:06pm On Feb 16, 2016 |
My Opinion: Dollar should be made the global unit of currency. It will strengthen trade and economies worldwide. Countries will still have to opt if they agree to it or not. 1 Like 1 Share |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by Nobody: 1:10pm On Feb 16, 2016 |
 END-TIME SUGESSTION |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by AngryNigerian(m): 1:12pm On Feb 16, 2016 |
The devil that suggested this to you must rot in the lowest, hottest part of hell!!! |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by IGBOPRINCE: 1:15pm On Feb 16, 2016 |
dubemnaija:then english language should be made the global unit of languages.  |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by Wizzykinging(m): 1:17pm On Feb 16, 2016 |
It can only happen in your dreams  |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by 4Play(m): 1:42pm On Feb 16, 2016 |
@OP It's not as bad an idea as many think. It will remove currency risk for investors and curtail inflation in Nigeria. This was how Zimbabwe overcame its legendary hyperinflation problem which turned everyone into a billionaire. However, the downside is the loss of monetary independence as US monetary conditions are imported into Nigeria in circumstances that might not be appropriate. For instance, higher interest rates may be required to curtail risky bank lending in Nigeria so using the US's interest rates, circa 0.5%, will lead to excess lending. Further, you can wave goodbye to the development of a domestic manufacturing industry as you might as well import given the easier availability of the US dollar. To be honest and given Nigeria's suicidal currency management, dollarisation is a better option at present. However, in a better managed economy it is far better to have your own currency than to adopt someone else's. I view Buharinomics as a transient detour away from sound economics. Things have a way of correcting themselves eventually as the reality of pain and suffering caused by bad policies become incapable of being explained away via propaganda. The sad part is that it might take a lot of pain and suffering, much of it avoidable, to get to that point. 1 Like |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by dubemnaija: 3:54pm On Feb 16, 2016 |
^^God bless you |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by dubemnaija: 3:55pm On Feb 16, 2016 |
AngryNigerian: No devil suggested nothing to me |
| Re: Why Can't The Dollars Be Made World's Only Unit Of Currency? by dubemnaija: 7:29pm On Feb 16, 2016 |
Lalasticlala |
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