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Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by dprpikin: 9:49pm On Jun 30, 2020 |
Nice writeup. However, wealth is not limited to natural resources. There is also human resources. In this time and age, technology is wealth itself. That is why a country like Japan with no much natural resources but abundant human resources and technology are doing better than us. I would dare say that human resources and technology payoff more than natural resources. sorority11: Nice writeup. However, wealth is not limited to natural resources. There is also human resources. In this time and age, technology is wealth itself. That is why a country like Japan with no much natural resources but abundant human resources and technology are doing better than us. I would dare say that human resources and technology payoff more than natural resources. |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by dprpikin: 10:06pm On Jun 30, 2020 |
selemempe: selemempe: Only dollars, euro and yen can be printed like that because they are traded currencies. Those poor countries have currencies of no value outside their country. They can't print money Modified You can print money if your currency itself is demanded for transactions abroad. That is why u.s and Europeans have gone far. They can afford to print their money and spend it abroad...not in their own country. So if u.s needs to buy oil from Nigeria...it can print the money and buy the oil and that way, they keep their economy alive. That is neo colonialism selemempe: The US would rather have you exchange your oil with there finished goods. That is why Donald Trump has been complaining of trade deficit (i.e purchasing more than you sell) between them and China. The purchasing power of the dollar against any other currency lies in its general acceptance and scarcity. |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by selemempe: 3:57am On Jul 01, 2020 |
dprpikin:but because dollar is still a traded good, the u.s can afford to print it and exchange it for goods abroad. In fact they even print it and spend it in their country and call it stimulus package |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by IVORY2009(m): 5:53am On Jul 01, 2020 |
Mazikic: This is very true, just imagine every household in Nigeria having 100 million naira in their family bank account, the question is who would want to go and work, and the production rate will be zero, which would lead to inflation. |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by Fathai(m): 10:43am On Jul 01, 2020 |
oglalasioux:yes PayPal accept naira but it will enter your PayPal account as dollar when u load ur PayPal account. Payoneer also allow you to load your account with naira......all you just need to do is, lodge your printed cash into ur Nigeria bank account then load your PayPal account with your card then start buying. |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by oglalasioux(m): 11:59am On Jul 01, 2020 |
Fathai: Why the bolded? Why not pay it into a Ghanaian account? |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by dprpikin: 1:01pm On Jul 01, 2020 |
selemempe: Every country prints their currency from time to time to serve their economic need. Granted. However, the idea that the US prints their currency with reckless abandon just because their currency is a global legal tender is what I'm objecting to. Because at the long run, the dollar would become excessively abundant in the global market and its value will nose-dive. And the US knows better than to create such scenerio. |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by selemempe: 1:27pm On Jul 01, 2020 |
dprpikin:I know. But sometimes they do it during an economic slowdown. They pump dollars into the world markets and get valuable goods in return.... something which poor countries like Nigeria can't do. So the rich countries keep getting richer |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by dprpikin: 6:51pm On Jul 01, 2020 |
selemempe: Now I get where you coming from. Of course in such critical times they can do that to stimulate their economy. |
Re: Why Are Some Countries Poor When Their Central Bank Can Print Money? by Fathai(m): 7:50pm On Jul 01, 2020 |
oglalasioux:see me see trouble, are u trying to build Ghana economy or Nigeria economy and moroval, I'm only telling you how cash can be converted to dollar. |
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