I think it's stupid for one country's currency to be greater than another and why should the United States dollar be The quote currency for all countries especially we in Africa, we have all resources.
Why can't Africa unite and make their one unified currency to rival the USD Euro and Pounds?
I think that would improve the standard of living and purchasing power of everyone.

In 2014 I had my first job and earned 18k salary which is equivalent to 90 to 100usd. Today 18k is peanuts. Why should USD determine the value of our currency?
I am no economist, so I'm open to enlightenment.

Moneyboyz:
I think it's stupid for one country's currency to be greater than another and why should the United States dollar be The quote currency for all countries especially we in Africa, we have all resources.
Why can't Africa unite and make their one unified currency to rival the USD Euro and Pounds?
I think that would improve the standard of living and purchasing power of everyone.

In 2014 I had my first job and earned 18k salary which is equivalent to 90 to 100usd. Today 18k is peanuts. Why should USD determine the value of our currency?
I am no economist, so I'm open to enlightenment.

Because the west will never allow it. That's why they killed Gaddafi. The USD is a toil of war and oppression and they are basically not accountable to anyone or any country.

But eventually, the USD will collapse. Other countries needs to be strategic in backing their currencies. They need to carefully move away from the USD back their currency with gold, silver, diamonds etc. China and Russian are moving away from the USD. Nigeria is smart enough to sign the currency swap agreement with china.

...Africans will be fighting Queen Eliza and Rockefeller , and its won't end well

Happy slave

Because the AU is useless.

SlayerForever:
Because the AU is useless.

I agree with you

Even if we have a unified currency in Africa it will still become useless as it is.
We import almost everything from the west, even our natural resources are being imported back refined
How about we tackle the major problems we're facing in Africa which is improved Technology whereby all our natural resources are being refined here and the market is among African countries. That will automatically give value to the currency not by proclaiming a single currency for all.
Until then.......

SisterFire:
...Africans will be fighting Queen Eliza and Rockefeller , and its won't end well

Happy slave

Old lady,

Better bring yourself back from the past and into the 21st century before people start thinking you are out of your tiny mind.


Lol

rottennaija:


Because the west will never allow it. That's why they killed Gaddafi. The USD is a toil of war and oppression and they are basically not accountable to anyone or any country.

But eventually, the USD will collapse. Other countries needs to be strategic in backing their currencies. They need to carefully move away from the USD back their currency with gold, silver, diamonds etc. China and Russian are moving away from the USD. Nigeria is smart enough to sign the currency swap agreement with china.

Funny guy.

You fired well but missed the target.

Try learn economics plus business and finance then come back and try to answer the question again.

You'll understand why countries can't just get rid of the US dollar and stuck up with the currencies of China and Russia. Hell man, even China and Russia themselves store up the dollar.

BigCowH0rn:



Funny guy.

You fired well but missed the target.

Try learn economics plus business and finance then come back and try to answer the question again.

You'll understand why countries can't get rid of the US dollar and stuck up with the currencies of China and Russia Even China and Russia store up the dollar.

Isn't there a way to break the Monopoly?

Moneyboyz:


Isn't there a way to break the Monopoly?

There is but it's as good as impossible for now.
Why? Cos the US is a military, economic and fanatical superpower.

Russia is a military superpower only
China is a military, economic, and financial superpower that cannot measure up to US muscle for now.


Did you know that the United state has the largest oil and natural gas reserve in the world? It beats Russia and all those rich Arab countries. The oil in Taxes alone will put Saudi Arabia to shame. Now you know why all the world headquarters of giant oil firms are in Houston, Texas.
Once there is a disruption in US oil production the price of oil in the world shoots up sharply within hours. Even Russia and Saudi Arabia can't affect oil prices so fast like that.

But get this.... the Untied states does not touch the majority of is oil reserves.

China has no oil at all but is hoping to find something in south china sea hence the over-claiming of land over there.

Oil is financial power and that is why the currencies of oil rich nations like Qatar and Oman are actually higher than the dollar.
But does it bring economic or military might? Not really.


You know of US military. It has the largest and most powerful Navy in the world
The largest and most powerful air force too.
But it's army is not the largest. North Korea, China and Russia have bigger but are they more superior? Nope.

Russia and China have been making noise about their new might hypersonic missiles but not many know the US has had the thing for years.

Ever heard of USAID?
That's a US project that gives out billions of dollars in AID to other countries each year.
This is just one of the many ways the US uses to keep other less powerful countries in line.
FVck with us and we cut of our millions and billions to you. Who will pay you that kind of money? Russia or china?

Go to the Internet and try to do business.
If you really want to succeed or breathe sef you must abide by US rules not chinese or Russian rules.


I could go on and on but the bottom line is that the USA and it's dollar have come to stay.... for at least a century more. That's how long it takes to unseat a world superpower. Check history.


Good Morning.

BigCowH0rn:



There is but it's as good as impossible for now.
Why? Cos the a military, economic and fanatical superpower.

Russia is a military superpower only
China is a military, economic, and financial superpower that cannot measure up to US muscle for now.


Did you know that the United state has the largest oil and natural gas reserve in the world? It beats Russia and all those rich Arab countries. The oil in Taxes alone will put Saudi Arabia to shame. Now you know why all the world headquarters of giant oil firms are in Houston, Texas.
Once there is a disruption in US oil production the price of oil in the world shoots up sharply within hours. Even Russia and Saudi Arabia can't affect oil prices so fast like that.

But get this.... the Untied states does not touch the majority of is oil reserves.

China has no oil at all but is hoping to find something in south china sea hence the over-claiming of land over there.

Oil is financial power and that is why the currencies of oil rich nations like Qatar and Oman are actually higher than the dollar.
But does it bring economic or military might? Not really.


You know of US military. It has the largest and most powerful Navy in the world
The largest and most powerful air force too.
But it's army is not the largest. North Korea, China and Russia have bigger but are they more superior? Nope.

Russia and China have been making noise about their new might hypersonic missiles but not many know the US has had the thing for years.

Ever heard of USAID?
That's a US project that gives out billions of dollars in AID to other countries each year.
This is just one of the many ways the US uses to keep other less powerful countries in line.
FVck with us and we cut of our millions and billions to you. Who will pay you that kind of money? Russia or china?

Go to the Internet and try to do business.
If you really want to succeed or breathe sef you must abide by US rules not chinese or Russian rules.


I could go on and on but the bottom line is that the USA and it's dollar have come to stay.... for at least a century more. That's how long it takes to unseat a world superpower. Check history.


Good Morning.

Omo I love the complete breakdown, wow we are in on a long thing.
I'm sure just like every past empire it will crumble someday.

BigCowH0rn:



Funny guy.

You fired well but missed the target.

Try learn economics plus business and finance then come back and try to answer the question again.

You'll understand why countries can't just get rid of the US dollar and stuck up with the currencies of China and Russia. Hell man, even China and Russia themselves store up the dollar.

I saw your post and it's not far from what I'm saying. The US is an war power. Currencies are supposed to be backed by something tangible, like gold. But US did away with it and started printing money backed by absolutely nothing. This printing leads to inflation. That's is why in any country, prices of goods will keep rising because of the fiat or paper money.

The only reason US is able to get away with this for so long is because of their military industrial complex. As counties like China continue to rise, eventually, the US in the next 20 to 30 years will not be a superpower.

As I had said, this countries like China are gradually moving away from the US dollars. It will eventually collapse due to overprinting of money. And mind you, US treasury is indebted to China for more than 1t dollars.

rottennaija:


I saw your post and it's not far from what I'm saying. The US is an war power. Currencies are supposed to be backed by something tangible, like gold. But US did away with it and started printing money backed by absolutely nothing. This printing leads to inflation. That's is why in any country, prices of goods will keep rising because of the fiat or paper money.

The only reason US is able to get away with this for so long is because of their military industrial complex. As counties like China continue to rise, eventually, the US in the next 20 to 30 years will not be a superpower.

As I had said, this countries like China are gradually moving away from the US dollars. It will eventually collapse due to overprinting of money. And mind you, US treasury is indebted to China for more than 1t dollars.

@Bolded

Stuff like your last statement which i enbolden is why i say you don't understand world economic and finance
That sh.it is complex you gotta learn a bit to understand anything.

US Debt is actually an invest. The surest investment in the world and China bought right into it

Let me give you and example with Taiwan. It's just a tiny island and the US owes it billions of dolloars. But is that really the case?
Hmmm, let's see.

Taiwan

Amount of U.S. Debt Owned: $234 billion

This small island nation makes nearly all of its money exporting goods to Europe, the U.S. and China. So when the world economy is good, the Taiwanese economy is very good [source: Shapiro]. But to hedge for the bad times, Taiwanese investors put their money in the safest securities in the world: U.S. debt.

Check out who owes the united states the high-test.

Top 10 Countries owing the USA from the smallest to the Biggert.


10. Taiwan
9. Belgium
8. Brazil
7. Switzerland
6. Luxembourg
5. Ireland
4. United Kingdom
3. China
2. Japan
1. United States of America

Cheers!

BigCowH0rn:




@Bolded

Stuff like your last statement which i enbolden is why i say you don't understand world economic and finance
That sh.it is complex you gotta learn a bit to understand anything.

US Debt is actually an invest. The surest investment in the world and China bought right into it

Let me give you and example with Taiwan. It's just a tiny island and the US owes it billions of dolloars. But is that really the case?
Hmmm, let's see.





Cheers!

Selling treasury bills to print money is an investment quite alright. You can say it's a sure investment, that is while the dollars has not collapse yet.

Isn't it ironic that each time they print more dollars (in this treasury bill investment) inflation increases? Isn't it ironic that the American lifestyle is a one of debt burden?

rottennaija:


Selling treasury bills to print money is an investment quite alright. You can say it's a sure investment, that is while the dollars has not collapse yet.

Isn't it ironic that each time they print more dollars (in this treasury bill investment) inflation increases? Isn't it ironic that the American lifestyle is a one of debt burden?

Yeah, very ironic but somehow it works.
As you can see the US economy remains the best year in year out even though the dollar is only the 10th strongest currency in the world.


Now, before you say China's economy will soon eclipse the US consider this.

China is a relatively new commer on the economic scene with a vast reservoir of natural resources that have been left untapped until very recently.
China is booming and selling everything at a cheap price cos they've got the resources in abundance to produce plenty unlike most other nations that have run out.
China is still a kid who can't believe her 'natural' powers. Give her time to mature and lose some of those 'natural' powers then see.

BigCowH0rn:



Yeah, very ironic but somehow it works.
As you can see the US economy remains the best year in year out even though the dollar is only the 10th strongest currency in the world.


Now, before you say China's economy will soon eclipse the US consider this.

China is a relatively new commer on the economic scene with a vast reservoir of natural resources that have been left untapped until very recently.
China is booming and selling everything at a cheap price cos they've got the resources in abundance to produce plenty unlike most other nations that have run out.
China is still a kid who can't believe her 'natural' powers. Give her time to mature and lose some of those 'natural' powers then see.

Time will tell then.

Africa shouldn't support a single currency, most countries will lose their sovereignty if a single currency is adopted.

A Single currency makes trade easier but also destroy trade, easier for developed countries to easily manipulate the currency and destroy African economies.

rottennaija:


Because the west will never allow it. That's why they killed Gaddafi. The USD is a toil of war and oppression and they are basically not accountable to anyone or any country.

But eventually, the USD will collapse. Other countries needs to be strategic in backing their currencies. They need to carefully move away from the USD back their currency with gold, silver, diamonds etc. China and Russian are moving away from the USD. Nigeria is smart enough to sign the currency swap agreement with china.

Since signing the "smart" agreement Naira has been depreciating, from N500 to N560 to US$

Cc lalasticlala
Seun