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The Danger Of Borrowing Unclaimed Dividends / Foreign Loan: Why Can't CBN Print The $5.5bn Instead Of Borrowing? / Nigeria’s CBN Is Printing Money To Keep The Govt Afloat & Alarms Are Ringing. (2) (3) (4)
Re: . by TheGiftedOne(m): 8:49am On May 04, 2020 |
The mods haven't deemed it wise and needful yet to push this to FP. If it was snake and some irrelevant nonsense, fiam, gbam FP mtcheeew! 7 Likes 2 Shares |
Re: . by Ekemeze: 8:56am On May 04, 2020 |
. 2 Likes |
Re: . by Quelme: 8:57am On May 04, 2020 |
sassysure:Zimbabwe and Venezuela hyper inflation is as a result of economic sanctions. 2 Likes |
Re: . by Quelme: 9:03am On May 04, 2020 |
Sunshineg5:not all countries hold their reserve currency in dollar. But I think the dollar dominates, about 60% or so. 3 Likes |
Re: . by Erosion2020: 9:06am On May 04, 2020 |
Nice thread. I'm here to read and learn. 2 Likes |
Re: . by mekuso89(m): 9:09am On May 04, 2020 |
Sunshineg5:kk 1 Like |
Re: . by Salvavibe: 9:09am On May 04, 2020 |
some times its not about the money but for the safety of the economy https://www.nowviba.com/music/pages/well/Its-Not-About-Money-(Original)/Fille-ft-B2k/596 1 Like |
Re: . by Nobody: 9:13am On May 04, 2020 |
Quelme:Answer yourself by defining hyperinflation. |
Re: . by Quelme: 9:29am On May 04, 2020 |
sassysure:Please o, I'm not here to argue with anybody. I only pointed out the fact that those countries you mentioned, their economic woes isn't just as a result of bad economic policies. You get my point? 3 Likes 1 Share |
Re: . by Nobody: 9:41am On May 04, 2020 |
. |
Re: . by Nobody: 9:50am On May 04, 2020 |
FivePeas:You just described how money is printed globally 2 Likes |
Re: . by holocron: 9:57am On May 04, 2020 |
mrvitalis: Thanks for your sagacious response. Does this not mean that the sovereignty of the country with this secondary money is a sham? From your analysis the countries operating the primary money i.e USD, can as well print as much as they want and purchase goods and services with ordinary paper, or grant loans with huge interest? Yes you can redeem their purchases by your imports, but they can frustrate or control what you want to import. Can u throw more light on this? 5 Likes |
Re: . by mrvitalis(m): 10:05am On May 04, 2020 |
holocron:Firstly yes it's almost a sham ...but your can make your money first class money buy buying up gold and manufacturing so people would have know option that to buy from you ....at that state you can demand to sale only with your money If Nigeria was the sole supplier of say oil to the world we can demand oil must be bought with naira ....this would make nations have naira as reserve incase they want to buy oil We would print the naira but not so much that it becomes valueless ...so we only print based on the demand 5 Likes |
Re: . by holocron: 10:25am On May 04, 2020 |
mrvitalis: "No country currently backs its currency with gold, but many have in the past, including the U.S.; for half a century beginning in 1879, Americans could trade in $20.67 for an ounce of gold. The country effectively abandoned the gold standard in 1933, and completely severed the link between the dollar and gold in 1971." US as the most powerful nation on earth, can print USD at will to stimulate their economy. Weaker countries are not allowed to do that, but US can give you loan at great compound interest out of the USD they just printed. African countries are still in chains. Independence, sovereignty is a sham. Our leaders are just errand boys of the master. 5 Likes |
Re: . by holocron: 10:35am On May 04, 2020 |
mrvitalis: @the bolded, I don't think we can be allowed to have such privilege come what may; if need be, such ambition will be suppressed by physical force ( if regime change through sowing chaos by backing or arming rebels fails). As powerful as China is, they have not been able to enforce international transactions with their own currency. Only armed Might, preferably nuclear arms, can enforce and make naira convertible. 1 Like |
Re: . by mrvitalis(m): 10:55am On May 04, 2020 |
holocron:I was given a simplified explanation an ideal case 1 Like |
Re: . by mrvitalis(m): 10:58am On May 04, 2020 |
holocron:The USA can only print based on the demand for dollar ...if u print more than the demand it would become valueless over time ... The USA is backed by the demand for dollar I was trying to explain to someone who is not familiar with Marco economics ...the gold standard is the easiest to explain 2 Likes |
Re: . by holocron: 11:07am On May 04, 2020 |
mrvitalis: Noted 1 Like |
Re: . by holocron: 11:16am On May 04, 2020 |
mrvitalis: ...and can it create this demand...for instance, pressuring countries to accept loans through the international agencies, using AID programs to sabotage the economic production of weaker nations and conditioning the countries to be reliant on American imports, formenting wars here and there in order to sell arms and create a need for massive rebuilding (requiring imports) after the wars (fact: since the creation of the USA in 1776 no 5 years can pass by without the US being involved in a war, battle, or military conflict, many times several at the same time. They end one just to start another almost immediately without end) 1 Like |
Re: . by Blazebond(m): 11:25am On May 04, 2020 |
Most of the replies here about inflation ain't really right,world economics is ruining africa,China printed money,they are still printing money till today,infact China have refused to allow the yuan to rise to its real value (the Chinese yuan real value is as high as the u.s.a dollar currently)China is doin all these because they want their goods to be affordable around the world and that automatically makes goods of Europeans and Americans more expensive around the globe,Nigeria can print more naira to stabilize in critical times like these,we can print more money so as to boost our economy and enable the industrialization that we all yearn about,industrialization on a massive scale is the only way Nigeria can meet her dreams of exportation,you borrow a bit and you print a bit,the world ain't waiting for anybody,this wild goose dream of a dollar to match a naira that most of us yearn for is childish and stupid,the real secret is to toe the path of the crafty Chinese,allow your naira to trade at 100 to a dollar,but produce goods and provide services that will match the best of the best worldwide and see people flock to your goods and services,because yours would definitely be cheaper cause of your low cost of production,same quality but cheaper in prices,China is doing it is goods today and it is paying off for them,how did they start?they started by printing more of their currency in other to boost industrialization in their country. 3 Likes |
Re: . by mrvitalis(m): 11:28am On May 04, 2020 |
holocron:Now u get the idea 1 Like |
Re: . by FivePeas: 11:31am On May 04, 2020 |
Like the person above me said many comments here are right but flawed. A nation cam print it's money commemorate with its " achievable potential capability " China before it assumed it's current status, kept printing money in extremely high levels boosting it's local capacity, and then tweaked it's international books to get dollars to back it up. The people handling our economies are not entirely genius. The presidency has to work with the finance ministry CBN and Co to make blueprints and set objectives if similar feats is to be done. But then the continuous beaurecratic disunity within institutions will always keep Nigeria and Africa at best, average CC Blazebond 1 Like |
Re: . by Nobody: 12:12pm On May 04, 2020 |
bigerboy200: Savings. 1 Like |
Re: . by ubcandid(m): 1:31pm On May 04, 2020 |
China and North Korea have been printing counterfeit (because it's not printed by those authorised. But genuine quality) US Dollars in excess volume. If we go by most statements here, the US economy would have packed up by now. Balancing National economy entails more than currency in circulation and monetary policies. 1 Like |
Re: . by Oghenerobo2002(m): 1:32pm On May 04, 2020 |
It will be a nice idea ONLY if we are no associating or buying from other countries |
Re: . by KayCee92(m): 1:33pm On May 04, 2020 |
Mathscum: Now tells us, as an economist, why does this sound funny. We all here to learn. Am waiting |
Re: . by Nobody: 1:45pm On May 04, 2020 |
Ekemeze: Your economics teacher in highschool deserves to be flogged. |
Re: . by Saintinoo(m): 2:14pm On May 04, 2020 |
FivePeas:You will make a bad economist... You said a country can print more money in anticipation of projected economic value? No way, you can only print more money when there is an increase in your gold reserve. Or when their is an acute shortage of your currency in circulation. |
Re: . by engrchykae(m): 2:17pm On May 04, 2020 |
mrvitalis:who the hell made dollar a yardstick for world currency? Isn't it annoying? It means Africa must start continental economic co operation first. When we became strong in terms of a strong market with one regional currency,we can now negotiate a better value for our currency and more importantly we have to abolish this nonsense Anglo phone and francophone nonsense of classifying Africa. In fact the youths have to be mad in order to change this silly system that only serve the West. |
Re: . by FivePeas: 2:22pm On May 04, 2020 |
Saintinoo: Before you try to act God on me go read up on China on its ascendancy path to second global financial power, when you find the truth yourself, your ignorance will have been cured And before you mumble up grammar to try to look intelligent, please remind yourself what the underlying principle of cash flow loans is about Good day |
Re: . by engrchykae(m): 2:23pm On May 04, 2020 |
Ekemeze:it was the West controlled imf that wanted to punish Mugabe for daring to take away the farms from the colonialists. It was to serve as a deterrent to future occurrences. So whenever any African leader wants to be Patriotic, opposition will remind you of Zimbabwe,if you want to be independent as against the colonial interests during the Berlin conference,they will remind you of biafra,if you want to remove the house niggas of the colonial master,they will remind you of Congo. |
Re: . by Saintinoo(m): 2:27pm On May 04, 2020 |
FivePeas:No one is acting God.... If China printed more currency, it is either their gold reserve is enough to contain the increase in currency or because they are an exporting country, just like US who can print money without it affecting their economy... You have to be well grounded on INFLATION first then you will understand this better. |
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