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Nairaland Forum / Nairaland / General / Business / Why Don't Poorer Countries Just Print More Money. (photos) (3607 Views)
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Re: Why Don't Poorer Countries Just Print More Money. (photos) by Nobody: 10:41am On Jul 20, 2019 |
obekediamondfuto: You so right on point, man! The root of all dz chaos is our warped MINDSET. We sure need the right orientation for things to work.
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Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 3:30pm On Jul 20, 2019 |
tartar9:Fiat money is worthless. Money doesn't have to be fiat 2 Likes |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 3:42pm On Jul 20, 2019 |
AntiBalaka:They were good on being able to redeem debt. Not the use of the word 'were'. Paper money used to be promissory notes until the severance of fiat currencies from the gold standard. Fiat notes are no longer backed by gold. Now it's backed by the full faith and credit of the government that issues it |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 3:53pm On Jul 20, 2019 |
haryomikun: I have already written about the origin of fiat currency and the end of the gold standard in this same thread. Check it out |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 4:24pm On Jul 20, 2019 |
AntiBalaka:I love the history you put out there. I earlier heard about the Roman economic disaster as the first banking catastrophe in the world. I'll have to read up on it sef because I believe another will happen in the nearest future. History always repeats itself. Virtual money and loans go Bleep this world economy up I believe Bitcoin (or some other Cryptocurrency) will be the perfect solution to this inflation nonsense plaguing the world |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 4:38pm On Jul 20, 2019 |
Anoniemos01:Nigeria has the highest number of poor people. Nigeria is not a poor nation in terms of GDP. They're two different things. Besides Nigeria's poverty rates have been estimated at 60% i think not 46 percent. Its still horrible. |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 4:50pm On Jul 20, 2019 |
obekediamondfuto:I think a revolution would work best for Nigeria. As horrible as it is, i think it would. What else can gear up a country in which its citizens are okay with suffering? No protests, no hope, nothing. If Nigerians get subjected to the worst possible conditions of living like those in a war are subjected to, our brains will be rewired. That being said, if I had the power to stop the impending revolution which will engulf Nigeria, I would. I believe war will ravage Nigeria once the world tends toward solar power and the use of electric cars. Nigeria has absolutely no backup plan if oil prices drop. The first oil price drop to half led us into a recession in 2016. Nigeria can't survive a worse oil price drop. |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 4:51pm On Jul 20, 2019 |
AntiBalaka:I'll do that now sir Modified..... I had already seen the comment at first without realizing it was you. I liked and shared it when I first saw it. Sweet analysis. Note though that the international gold standard was abolished in 1971* The redemption of fiat for gold locally was abolished first in 1933 by Franklin Roosevelt 1 Like 1 Share |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by AntiBalaka: 5:06pm On Jul 20, 2019 |
haryomikun: Bitcoins and other crypto currencies were designed to prevent fiat currencies as there are only one million fixed units, which makes bitcoin a stable appreciating currency if more and more people decide to switch to it. But there is a problem, conventional banks are deliberately trying to make Bitcoins appear unstable with their massive buy ins and sell offs. The banksters are engaging in insider trading within the bitcoin market by buying and reselling to themselves at steady huge appreciations only to crash it down themselves when Bitcoins are at an all time high. They can do this because Bitcoins are purchased with their own instruments - fiat money! 1 Like |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by haryomikun(m): 10:01pm On Jul 20, 2019 |
AntiBalaka:Lol only Bitcoin has 21 million units. Other cryptos have varying circulating and fixed supplies. In the crypto space, we aren't too sure its the banks that are the ones buying en masse and dumping (they're referred to as whales). However, no matter the effect of these whales, Bitcoin can't go below a certain price. It's been established since the last bubble and market bleed-out after the 20,000$ Bitcoin price swing high. The whales are more likely to even be individuals. It doesn't matter how volatile they make Bitcoin seem though. That's the reason some get attracted to the market. The only thing Bitcoin's waiting for now is the arrival of several big names in the industry through the approval of the VanEck Bitcoin ETF. Bitcoin and cryptocurrency has solved a problem that has plagued the world's economy since the issue of trade by barter was solved... Supply. Even if all existing cryptos fucck up, crypto has created a fire that can't be quenched |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by dianadsouza: 9:52am On Jul 24, 2019 |
haryomikun: Popular altcoin eos is performing really well in the crypto market, according to coinpedia eos price prediction the price of eos will rise high in the upcoming years. |
Re: Why Don't Poorer Countries Just Print More Money. (photos) by tck2000(m): 4:29pm On Nov 10, 2019 |
oh |
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