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Why Don't Poorer Countries Just Print More Money. (photos) by Nobody: 11:10pm On Jul 19, 2019
When a whole country tries to get richer by printing more money, it rarely works. Because if everyone has more money, prices go up instead. And people find they need more and more money to buy the same amount of goods.

This happened recently in Zimbabwe, in Africa, and in Venezuela, in South America, when these countries printed more money to try to make their economies grow.

As the printing presses sped up, prices rose faster, until these countries started to suffer from something called “hyperinflation”. That’s when prices rise by an amazing amount in a year.

When Zimbabwe was hit by hyperinflation, in 2008, prices rose as much as 231,000,000% in a single year. Imagine, a sweet which cost one Zimbabwe dollar before the inflation would have cost 231m Zimbabwean dollars a year later.

This amount of paper would probably be worth more than the banknotes printed on it.

RISING PRICES

To get richer, a country has to make and sell more things – whether goods or services. This makes it safe to print more money, so that people can buy those extra things.

If a country prints more money without making more things, then prices just go up.

At the moment, there is one country that can get richer by printing more money, and that’s the United States. This is because most of the valuable things that countries around the world buy and sell to one another, including gold and oil, are priced in US dollars.

TC - The Curious Kid

THE DISMAL SCIENCE

But it’s not true that a country can never get richer by printing money. This can happen, if it doesn’t have enough money to start with. If there’s a shortage of money, businesses can’t sell enough, or pay all their workers. People can’t even borrow money from banks, because they don’t have enough either.

In this case, printing more money lets people spend more, which lets companies produce more, so there are more things to buy as well as more money to buy them with.

Too little money makes prices fall, which is bad. But printing more money, when there isn’t more production, makes prices rise, which can be just as bad. No wonder economics – the study of money, trade and business – is often called the “dismal science”.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Nobody: 11:17pm On Jul 19, 2019
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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Nobody: 11:17pm On Jul 19, 2019
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Re: Why Don't Poorer Countries Just Print More Money. (photos) by FarahAideed: 11:28pm On Jul 19, 2019
Engrjj:
I saw one hundred trillions dollars grin grin grin.

Things are tough n rough but we are still better than some people

No you are not !!!!!! You have highest number not poor people in the world and you are the poverty capital of the entire planet which means there is actually bno country you have a better standard of living than generally so stop deceiving yourself

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by FarahAideed: 11:36pm On Jul 19, 2019
Engrjj:


Allow me to give myself small hope pls.

Okay bro ..You are right we are better than some countries jare

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Anoniemos01: 11:43pm On Jul 19, 2019
FarahAideed:


No you are not !!!!!! You have highest number not poor people in the world and you are the poverty capital of the entire planet which means there is actually bno country you have a better standard of living than generally so stop deceiving yourself
And from where did you gather these erroneous facts from??

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by FarahAideed: 11:45pm On Jul 19, 2019
Anoniemos01:

And from where did you gather these erroneous facts from??

Why don't you tell the factual country you know that has more poor people than Nigeria today

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Sniper4real(m): 11:50pm On Jul 19, 2019
Abeg, if you dey Ibadan and there's side hustle for a nigga, Halla me. Pls. Legal or....

Contact dey Sig
Re: Why Don't Poorer Countries Just Print More Money. (photos) by MrBrownJay1(m): 11:55pm On Jul 19, 2019
You know your money ain't worth shiit when they make bags out of it and they sell for less than ONE Dollar

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by tartar9(m): 11:56pm On Jul 19, 2019
Money itself is worthless,its a more advanced and universal form of trade by barter.It signifies a contract/agreement that whoever posseses it has earned that amount of production/service.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 11:59pm On Jul 19, 2019
OP, you can print as much paper as you please. You just have to posses the means to force others to accept it.

See: US dollar for reference

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 12:11am On Jul 20, 2019
Paper money was designed to be a promissory note issued on behalf of the head of the sovereign as an instrument of credit to those who held it in their possession.

The more paper money in circulation, the more indebtedness a sovereign was.

King A issues a promissory note to pay ten metric pounds of gold to one of his subjects, Mr B, for goods or services rendered which will be redeemed in a specified time in the future.

Given that King A has absolute authority and credibility, Mr B, can pass some or all of the debt to Mr C in return for goods and services.

This arrangement only works where King A is not bankrupt and that he is guaranteed revenue to the crown.

In a situation King A is broke and revenue to the Crown in the near and distant future can not meet up to the King's expenditure, his subjects and even fellow kings will not be eager to render services or goods to King A.

In this case, paper money or promissory notes are only good on the sovereign being able to redeem it's debt.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by redsun(m): 12:13am On Jul 20, 2019
The strength of a people depends on their ability to evolve resourcefully. The ability to reason, simplify and multiply. Money is just something that comes along as part of the creations. It is a man made, man tagged and pegged.
Re: Why Don't Poorer Countries Just Print More Money. (photos) by Nobody: 12:19am On Jul 20, 2019
AntiBalaka:


King A issues a promissory note to pay ten metric pounds of gold to one of his subjects, Mr B, for goods or services rendered which will be redeemed in a specified time in the future.

Given that King A has absolute authority and credibility, Mr B, can pass some or all of the debt to Mr C in return for goods and services.


Great analogy.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by mystic77(m): 12:25am On Jul 20, 2019
Sniper4real:
Abeg, if you dey Ibadan and there's side hustle for a nigga, Halla me. Pls. Legal or....

Contact dey Sig
Msg me through my signature

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 12:31am On Jul 20, 2019
redsun:
The strength of a people depends on their ability to evolve resourcefully. The ability to reason, simplify and multiply. Money is just something that comes along as part of the creations. It is a man made, man tagged and pegged.

Before the era of the Caeser dictatorship, Rome issued pure gold coins as currency straight from the treasury. The gold came from taxes and tributes generated across the empire and also from plunder.

The Roman Danarih gold coins were worth their weight.

Then as the empire slipped into decline as a result of waste in maintaining the entertainment of the Roman Proletariat class with gladiator games and flour subsidy imports from Egypt coupled with high deficit spending in infrastructural projects across the vast expanding empire that on its own required Roman administration and military expansion compounded by the decadent opulent lifestyles of the Caersers and the nobility class, Rome went belly up.

The once valued pure Roman coins will later be replaced with gold plated Base metals and at the very dying end copper coins will become the only coins Rome was able to issue.

This is inflation leading up to deflation!

Growth - Bubble - recession - depression.

This is the normal cycle of all human misadventures into collective resource management under a single currency issuing body.

It won't be the first time neither will it be the last as humans are too stupid to figure out the solution lies not in a compacted capacitance - that is what money is- a means of storing human energy (labour) and skill set.

As long as growth continues to be recorded, inflation will arise which will later turn to deflation.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 12:49am On Jul 20, 2019
lordskid:


Great analogy.

Well, that was what the original paper currency was prior to fiat currencies we are used to now under the US petrol-Dollar hegemony.

There is no gold in the privately owned US federal reserves at Fort Knoxx.

All the gold there has since been shipped to Israel to be used in rebuilding and decorating their Temple of Moloch.

The origins of modern day paper money has its roots in the early pioneering era of the US.

Prospecting Go-Westers will deposit their gold or silver with a bank on the east coast before heading into the dangerous West were bandits and Red Indians laid waiting.
They were issued paper currency equivalent to the gold or silver deposited in New York or Boston.

On getting safely to the pioneer frontier, the prospector will walk up to the local branch of the bank he deposited his gold or silver to redeem part or all of his deposits.

Sooner, the banks will get local merchants, taverns and saloons to accept their paper money because in essence, there was no gold in the vaults.

At this time there were several banks in the US and all issued their own brand of paper currencies.

Then one day they all got together and decided it was best they all had a single currency which all of them will accept. This led to the US Federal note and federal reserves. They are only "federal" in their scope of operation and not on any authority of the state.

In 1970, Nixon will abolish the gold standard as the US decided it was of more economic advantage to the banks and corporate Czars in Wall Street.

And since that moment, the 1% Rothschild affiliated Jewish banksters became Lords of debt.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Anoniemos01: 12:51am On Jul 20, 2019
FarahAideed:


Why don't you tell the factual country you know that has more poor people than Nigeria today

Well, why don't you do the maths?? India has 22% of her population(1.3 BILLION) under poverty, Nigeria has hers at 46%(190.9 MILLION)
Besides, you can't just rule Nigeria out has the poorest country on earth., Or do you want to tell me you don't know of other countries which have almost all of their citizens in extreme want?? You might say we are more in population than them but what would you have to say to a country that has about 75% of her population in penury??

Plus considering the fact that Nigeria has produced a fair amount of people who are still living in stable conditions compared to some of our other counterparts, we are not on the worst-side, 'yet'. And we are definitely not the poorest in the planet, as you erroneously pointed out earlier.
Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 12:55am On Jul 20, 2019
Anoniemos01:


Well, why don't you do the maths?? India has 22% of her population(1.3 BILLION) under poverty, Nigeria has hers at 46%(190.9 MILLION)
Besides, you can't just rule Nigeria out has the poorest country on earth., Or do you want to tell me you don't know of other countries which have almost all of their citizens in extreme want?? You might say we are more in population than them but what would you have to say to a country that has about 75% of her population in penury??

Plus considering the fact that Nigeria still produces a fair amount of people who are still living in stable conditions compared to some of our other counterparts, we are not on the worst-side, 'yet'. And we are definitely not the poorest in the planet, as you erroneously pointed out earlier.

You have two prisons.

Prison A has an operational capacity of 1,000 inmates but has 1,700.

Prison B has a design capacity of 500, but is operating at 1,200. More than 120% capacity.

Which will you prefer to be interned in?

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Anoniemos01: 1:01am On Jul 20, 2019
AntiBalaka:


You have two prisons.

Prison A has an operational capacity of 1,000 inmates but has 1,700.

Prison B has a design capacity of 500, but is operating at 1,200. More than 120% capacity.

Which will you prefer to be interned in?

Prison A of of course. But we are not talking about space or overcrowding here so please make me see the correlation??
Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 1:06am On Jul 20, 2019
Anoniemos01:


Prison A of of course. But we are not talking about space or overcrowding here so please make me see the correlation??

We are discussing human suffering index.

A place filled with misery, deprivation, lack of freedom and hunger are all synonymous to poverty.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by FarahAideed: 1:22am On Jul 20, 2019
Anoniemos01:


Well, why don't you do the maths?? India has 22% of her population(1.3 BILLION) under poverty, Nigeria has hers at 46%(190.9 MILLION)
Besides, you can't just rule Nigeria out has the poorest country on earth., Or do you want to tell me you don't know of other countries which have almost all of their citizens in extreme want?? You might say we are more in population than them but what would you have to say to a country that has about 75% of her population in penury??

Plus considering the fact that Nigeria has produced a fair amount of people who are still living in stable conditions compared to some of our other counterparts, we are not on the worst-side, 'yet'. And we are definitely not the poorest in the planet, as you erroneously pointed out earlier.

Why do Nigerians love living in denial ? India with a population of 1.3 billion has 76 million people living in extreme poverty while Nigeria with 180 million people as at today has over 90 million people have living in extreme multidimensional Poverty , Statistically every 6 minutes an Indian is exiting extreme poverty while in the same 6 minutes a Nigerian somewhere is falling into extreme poverty ..

https://www.washingtonpost.com/news/worldviews/wp/2018/07/10/india-is-no-longer-home-to-the-largest-number-of-poor-people-in-the-world-nigeria-is/

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by franchasng: 7:22am On Jul 20, 2019
Beautiful discussion

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Nobody: 7:56am On Jul 20, 2019
Anoniemos01:

And from where did you gather these erroneous facts from??
Republic of Biafra
Re: Why Don't Poorer Countries Just Print More Money. (photos) by DIKEnaWAR: 9:24am On Jul 20, 2019
I used to ask myself this question as a kid. grin grin

In Nigeria today, the reverse is the case. There are fewer monies in circulation, especially the lower denominations like #5, #10, #20, #50 and #100. The scarcity of these denominations are making ordinary products within this price range to climb up. Why, we assume the denominations have become useless and worthless as a result of not being printed.


When did we abandon the 10 kobos and 50 kobos and One naira coins? We should have public phone booths and trains and use them to access these services. Yes, let's now use the coins like bitcoin. Let it be worth more than the figure written on it.

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by obekediamondfuto(m): 10:08am On Jul 20, 2019
DIKEnaWAR:
I used to ask myself this question as a kid. grin grin

In Nigeria today, the reverse is the case. There are fewer monies in circulation, especially the lower denominations like #5, #10, #20, #50 and #100. The scarcity of these denominations are making ordinary products within this price range to climb up. Why, we assume the denominations have become useless and worthless as a result of not being printed.


When did we abandon the 10 kobos and 50 kobos and One naira coins? We should have public phone booths and trains and use them to access these services. Yes, let's now use the coins like bitcoin. Let it be worth more than the figure written on it.

It is actually because...
Money in itself is designed to hold value. When a particular currency (or denomination of the currency) fails to hold the anticipated value (due to inflation, depreciation etc), then that currency or denomination loses usefulness and with time is phased out (subconsciously not officially)

Your challenge cannot be attributed to lesser circulation of those select denominations but accelerated loss of value.

PS they still print these notes but how many people will go to a bank and choose to be paid in N5, N10 and N20 bills?
Eg.
We had X amount of N5 notes in circulation at some point, due to some silly excuses (fuel related), the price of other things went up... When the same fuel that caused the problem went down.... Those elevated prices did not reduce correspondingly and we repeat the same event periodically just to show how greedy and self centered WE ALL are.
The same N5 still had X amount of bills or X - 0.75 to cater for obsolete, condemned and unusable notes... But it feels like we now have X - 3.75 notes in circulation due to its lack of usefulness as it no longer holds the primarily established and projected value.

Sadly, I'd go right ahead and say this again....
There is no straight forward solution to our problem in Nigeria,. ..

Mass annihilation - it won't work! Even if it does, the supposed successors are even more greedy than the present.

Recolonisation - Might solve a lot of problems but will introduce a whole new world of struggling.

Martial law - Will work but who are the supposed military rulers? Same old Nigerians? Then we see an even bigger problem than them all.

Our problems stem from the mentality of the grassroot and becomes more pronounced at the legislative and judiciary level and is at an all time high at the executive level!

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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Odunharry(m): 10:13am On Jul 20, 2019
Inflation Inflation
Re: Why Don't Poorer Countries Just Print More Money. (photos) by obekediamondfuto(m): 10:16am On Jul 20, 2019
Anoniemos01:


Well, why don't you do the maths?? India has 22% of her population(1.3 BILLION) under poverty, Nigeria has hers at 46%(190.9 MILLION)
Besides, you can't just rule Nigeria out has the poorest country on earth., Or do you want to tell me you don't know of other countries which have almost all of their citizens in extreme want?? You might say we are more in population than them but what would you have to say to a country that has about 75% of her population in penury??

Plus considering the fact that Nigeria has produced a fair amount of people who are still living in stable conditions compared to some of our other counterparts, we are not on the worst-side, 'yet'. And we are definitely not the poorest in the planet, as you erroneously pointed out earlier.

But you didn't even need to do any math before u realize how wrong u are....
In your write-up the math is there, looking at u in the face...

Just read it!
A family of 1000, 220 people are poor
VS
A family of 100, 46 people are poor

Are u only concerned with the number of poor people without considering the total number of people?

2 Likes

Re: Why Don't Poorer Countries Just Print More Money. (photos) by TANID(m): 10:33am On Jul 20, 2019
Engrjj:
I saw one hundred trillions dollars grin grin grin.

Things are tough n rough but we are still better than some people

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