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Nairaland Forum / Nairaland / General / Politics / No Third World Country Can Float It Currency With US Dollars And Survive. (2590 Views)
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Re: No Third World Country Can Float It Currency With US Dollars And Survive. by nairalanda1(m): 7:01pm On Feb 18 |
seborrhic: Thanks. |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by adamusuleiman2: 7:02pm On Feb 18 |
nairalanda1:💯 |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by fx45(m): 7:04pm On Feb 18 |
blacknp:You have seen the result of the advise your economic whizkids have been giving to your certificate forger 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Abagworo(m): 7:09pm On Feb 18 |
adamusuleiman2: Are any of them doing well? 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Figger(m): 7:25pm On Feb 18 |
abhosts:Amen, they'll die miserably 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by History555: 7:25pm On Feb 18 |
blacknp: You insulted him first and others. He returns the insult. Now you are calling mods. If you are too fragile don't start a war 2 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by PussyOdour(m): 7:29pm On Feb 18 |
abhosts: Why Wont he called the nairaland mods, when he clearly knows that they mods here support any evil. They're all APC asslicker. Don't be surprised if get banned. I know them. 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by PussyOdour(m): 7:34pm On Feb 18 |
blacknp: You don see nairaland finish na. You know you'll go unscathed even after raining abuse on the person when the person rationally returned the gesture, you run to the mods. You know nairaland mods are APC apologist and Tinubu ass lickers, hence the swiftness in calling them. I won't be surprised if the guy is ban for 2years plus while you move around continue insulting people. 2 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by oglalasioux(m): 7:35pm On Feb 18 |
Enugurangers: Kindly go back to the thread and find out who started insulting who. 2 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Saintinoo(m): 7:35pm On Feb 18 |
Bullfallo: |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Robchuks77(m): 7:39pm On Feb 18 |
blacknp:U no go pass this February.... Evil soul 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by BobbieZion(m): 7:46pm On Feb 18 |
blacknp: You are a bully. You threw shots, he clapped back you calling the Feds. Grow up. 4 Likes
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Re: No Third World Country Can Float It Currency With US Dollars And Survive. by KillingJoke: 8:04pm On Feb 18 |
Recommended
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Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Curious346: 8:13pm On Feb 18 |
Tinubu Na film trick.. he is an aberration Bullfallo: 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Feldie: 8:22pm On Feb 18 |
abhosts:that is why you should plant rice, palm-trees and the other things people outside Nigeria want. If you have what they want they will even convert their dollar to cowries if that's what you want |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by grandstar(m): 8:35pm On Feb 18 |
Bullfallo: What you've written is Baseless and completely wrong. The biggest evidence is that the black market runs on a floating exchange rate system. A floating exchange rate is the best policy for poor countries to run as it enables them handle economic shocks more quickly and much better. The CBN nevertheless has tools it can use to moderate the exchange rate. One of its most favorite is interest rates. This can be used to prevent the currency from either falling too fast becoming too strong. That tool sadly speaking has not been applied by the CBN to good effect The CBN needs to increase interest rates so has to mop up money in the system. This will help bring down inflation. Presently, the CBN rates are 18.5% while inflation is 29%. This is counterproductive as the interest rates must be above that of inflation. That maybe what's missing and might explain the free fall of the Naira. Tinubu wants low interest rates and it seems Cardoso is powerless to do otherwise. Also, many economists here criticized the appointment of Henry Cardoso. He lacks the proper qualifications for the job. Also, the CBN is supposed to be autonomous-that is free from political interference. However, Cardoso is Tinubu's boy and will do his bidding. 6 Likes 2 Shares |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by grandstar(m): 8:36pm On Feb 18 |
abhosts: Please, if you're a jehovahs Witness, don't say this. Please don't be angry. 2 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by DatNiggaDaz: 8:37pm On Feb 18 |
abhosts: 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by grandstar(m): 8:38pm On Feb 18 |
Enugurangers: This is an educated response. People don't educate themselves before they write baseless things here. 3 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by grandstar(m): 8:44pm On Feb 18 |
seborrhic: You want someone who read public administration to head the CBN? One of the reasons why the Naira is suffering today is that Henry Cardoso isn't qualified. Your option is 10 times worse. Your solution is worse than the problem. 5 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Procashtips(m): 8:46pm On Feb 18 |
Anambra1stSonTV: But don't forget we were borrowing to pay salary under Okonjo/Jonathan. Don't skip that |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by jmoore(m): 8:53pm On Feb 18 |
Enugurangers:Go and read each post from the start. If you fail to notice the person that insulted first, then you are a hypocrite. |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by nigeriansamurai(m): 8:55pm On Feb 18 |
blacknp:what he said is true. Naira no get demand, |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Nicepoker(m): 8:56pm On Feb 18 |
blacknp:But you abused him too. Why are you reporting. 2 Likes |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Legalaffairs(m): 8:59pm On Feb 18 |
blacknp: WHY ARE YOU TAKING IT TOO PERSONAL? YOUR REACTIONS DEPICTS THAT HUNGER IS VERY MUCH PLANTED IN YOUR HOME WITH STRONG ROOTS. TAKE AM EASY BRO. ASIWAJU TILL 5043. EBIN PAWA na tribe anguish cry not an Igbo slang |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by nigeriansamurai(m): 9:00pm On Feb 18 |
Feldie:exactly... Wetin Nigeria get to offer, we need to offer more whatever we are giving if naira is ever to grow... the funny part is that bad policies and customs are making it harded for private businesses to export |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by Beverlyjean(f): 9:43pm On Feb 18 |
blacknp: U are a fool...u started the insult on this thread and u got what u gave out first and u wanna form victim 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by grandstar(m): 9:55pm On Feb 18 |
seborrhic: Some point of correction First, Tinubu made the mistake of just "ending the subsidy." For the subsidy to be fully removed, rhe price of petrol should have been fully deregulated like has been done for kerosene and diesel where government does not dictate the price. That is why the subsidy is back. It is wrong to say if the price of petrol is 1,650 per litre will you pat, that is sentiment. If that should be the price, then that is the price. Economics and sentiments don't mix very well. That's why people hate the IMF. The truth is this. Tinubu met an empty treasury, with expected debt servicing for last year that would gulp 96% of government revenue. That practically means every dime that government would spend in the budget would be borrowed. That was why Tinubu had to end petrol subsidies but he should have gone further and deregulated the price but was probably frightened by a potential mass outcry. Also, electricity subsidies too should have been removed and the prices deregulated. Due to the fact the price consumers pay for electricity is not cost reflective, the Gencos and Discos are making losses and not able to invest. THE Discos are being owed 1.3trillion naira and Gencos $1.3bn. It is obvious the government can no longer continue subsidizing them. Also, the foreign reserves are empty. A country should have a minimum of 3 months of foreign reserves. At $4bn, Nigerianary has a month. When a country faces such a scenario, it approaches the IMF for assistance. The IMF may lend the country about $15-20bn but it will stipulate some policies. Since the IMF is unpopular, the nation did not do that and instead had been finding other ways 3 Likes 3 Shares |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by AyeMoJuba: 10:06pm On Feb 18 |
Enugurangers: Aree you minding these sons of perdition? They wail as if it's Tinubu that caused all of these...as if they are not aware that things have bn bad and spoilt before he came to power...They rant like a rabid dog as if they were deaf when Tinubu was saying it that what we are about to face is not going to be easy. They forgot when Sanusi was saying it loud and clear that things and days ahead was going to be tough...that past govt have bastadised the economy beyong redemption... They talk as if they are not aware that re-building is more difficult than destruction. They pretend as if they are not aware that we must undergo pain for us to smile in the end. All the Economic polcies of this Govt is in ORDER and it's what we need to salvage this terrible situation. All these noise makers are still the same people who are still pained because they lost election woefully. Before a child is birthed to this Earth, both the mother and the child must undergo a certain pain but will both be happy if they endured. Our situation economically is at a cross road, we must undergo certain pains to steer it on the right path. We will definitely go through discomforts while the corrections are bn implemented but at the end of the Tunnel, there comes light. Let the losers continue to wail. For me and my family, we will participate in the sharing of the necessary pains and shall be alive and healthy to eat the harvest thereof. 1 Like |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by StarRida: 11:24pm On Feb 18 |
blacknp:moderators this guy need to be ban for life we are in democracy why should you throw the first jab and he retaliated you started calling moderators Moderators please do the needful Seun Mynd44 |
Re: No Third World Country Can Float It Currency With US Dollars And Survive. by kingthreat(m): 11:18am On Feb 19 |
abhosts: You cannot be laying curses like this if you advertise Jesus on your signature. Learn to ignore somethings. |
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