theredaddy:



The links you provided only point out the fact that these countries are great earners of dollars, China for instance is the number one country with high trade surplus which translates to more dollar in reserves

Even if your qualification is waec, i expect you know there is a disparity between Earnings in dollar vs Saving in the Dollar

Earning in dollar entails inflow of revenue from int'l trade while,
Saving in dollar entails convert local currency to dollar as store of value which as severe consequences on the economic and her currency

So i will ask one more time, are the chinese, british and japanese converting there local currency to dollar to "Save" or as Store value

You have a reading problem. These countries are the greatest buyers of dollars. Japan does not have a trade surplus.
The UK has a trade deficit yet it holds over 700 billion of US securities.
Your education has a long way to go.
I sent you a link that shows you countries buying US bonds.
What do you think it means to buy US bond if not converting your currency to dollars or do you think US bonds are sold in Naira?
Here is the report on Japan's trade deficit yet it is the biggest holder of US bonds.
Really your education has a long way to go.
TOKYO (AP) — Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak. The deficit was 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, according to Finance Ministry data released Wednesday.Apr 16, 2024

2tpick:

Abeg free that guy. U are wasting your time engaging him.

theredaddy is just another out of school statistics. Unfortunately he has a phone and an internet connection.

owem19:
Waka

Can't you have a civil conversation without insulting people?

tctrills:

You have a reading problem. These countries are the greatest buyers of dollars. Japan does not have a trade surplus.
The UK has a trade deficit yet it holds over 700 billion of US securities.
Your education has a long way to go.
I sent you a link that shows you countries buying US bonds.
What do you think it means to buy US bond if not converting your currency to dollars or do you think US bonds are sold in Naira?
Here is the report on Japan's trade deficit yet it is the biggest holder of US bonds.
Really your education has a long way to go.
TOKYO (AP) — Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak. The deficit was 5.89 trillion yen ($38 billion) for the fiscal year that ended in March, according to Finance Ministry data released Wednesday.Apr 16, 2024

I will try to make to be as Brief as possible,

Us securities bond is among the safest investments on earth, its the most sorted currency in the world
Not just Uk, even china buy US bond as a long term investment .. emphasis on "investment"

My standing POV is, there is a disparity between what Nigerians do with dollar and what Uk/China as a country do with dollar ...

Do you agree ??

Lets be clear what the arguement it, buying to hoard dollar is not the same as buying US bonds .. True or false

theredaddy:



I will try to make to be as Brief as possible,

Us securities bond is among the safest investments on earth, its the most sorted currency in the world
Not just Uk, even china buy US bond as a long term investment .. emphasis on "investment"

My standing POV is, there is a disparity between what Nigerians do with dollar and what Uk/China as a country do with dollar ...

Do you agree ??

Lets be clear what the arguement it, buying to hoard dollar is not the same as buying US bonds .. True or false

So you know the dollar is the most sort after currency in the world so why did you write all those nonsense in the first place if your goal was not to deceive?
It's not like you have any proof that Nigerians seek the dollar more then people from other countries but let's say you are right, are their currencies as unstable as ours? Is it wise to save in an unstable currency?
Please stop blaming Nigerians. Your government has turned your currency to shit yet you don't want the people to seek out alternatives. I think it's evil of you to intentionally advise people to invest in a dying currency.
When your government fixes the naira, no would would need to be told to invest in Naira.
One more thing, buying to hoard dollar is done for the very same reason people buy US bonds. It's done because you trust the dollar and the US economy. And it's both a savings and an investment. It's a much better way to protect your savings that leaving it as Naira.
Are you saying that you prefer Nigerians to buy dollar bonds rather than hoarding dollar? Would this have a different impact on the economy?

How on earth can the currency of a country without electricity and pipe borne water in the 21st century compete with the almighty dollar? The government should channel the hard earned resources into providing the basics for the country to work it's way out of the dark age.

Worrying about naira's internationally status should be the least on the government agenda at this point in time where the people chronically lack the basics.

May it remain like that till May 1st make I get salary first before the artificial falling down... 4k USD x 1500 = 6m naira.. who say abroad no good 👿😈 😁

CBN STOP GIVING BDCS DOLLARS,STOP THIS NOW

tctrills:

So you know the dollar is the most sort after currency in the world so why did you write all those nonsense in the first place if your goal was not to deceive?
It's not like you have any proof that Nigerians seek the dollar more then people from other countries but let's say you are right, are their currencies as unstable as ours? Is it wise to save in an unstable currency?
Please stop blaming Nigerians. Your government has turned your currency to shit yet you don't want the people to seek out alternatives. I think it's evil of you to intentionally advise people to invest in a dying currency.
When your government fixes the naira, no would would need to be told to invest in Naira.
One more thing, buying to hoard dollar is done for the very same reason people buy US bonds. It's done because you trust the dollar and the US economy. And it's both a savings and an investment. It's a much better way to protect your savings that leaving it as Naira.
Are you saying that you prefer Nigerians to buy dollar bonds rather than hoarding dollar? Would this have a different impact on the economy?

Don't patronize me bro ! i asked you very simple question that could have thrown more light into whatever the arguement is about

Whether america is the most sorted currency in the world or not, Buying dollar to hoard or resell is not the same as Buying security bonds.

Now you said the should 1st fix the naira,
simple analog.. if i am cleaning up the house and my children are following behind with mud in their hands rubbing it on the floor & walls won't it be a endless cycle But imagine as i am cleaning my children join with mopper to wipe behind me .. common sense

You can never see a chinese, british or japanese buying dollar to keep at home or resell ... these is an indication Nigerians are sick

PARADIZEPRIEST:
CBN STOP GIVING BDCS DOLLARS,STOP THIS NOW

how can CBN give bdcs dollars at N1024/$ on thursday last week and now they sell for N1300/$
WHICH COUNTRY DEY HAWK DOLLARS LIKE CRAYFISH? THIS IS ABSURD ANIMAL BEHAVIOUR and racketeer evil works,

NemoDatQuod:
Yes Prof.

Many have never, ever paid school fees before in previous years. Yet, it is this year when foreign school enrolment fell off by more than fifty percent, that payment of school fees is devaluing the Naira.

Thee is a reason why we were all taught at Elementary, that 1 plus 1 is 2. It is for us to apply that in every aspect of our lives. It is called critical thinking.

Stop hearing these things you hear. Else one day, Olopa will come and pick you from your house and claim you are the reason NEPA or whatever it is now called, is supplying darkness. Or better still, you are the reason the Naira is depreciating.

Let one plus one, always equal two for you. Do not agree to hear rubbish.

good day sir

/
Japanese yen reached all time low against US dollars since 1990. Japan is very notorious in interventions and defending their currency when it suits them. But in all, yen keeps falling. I mentioned that Tinubu and Cardoso would fail in their attempt at defending naira with foreign reserves.

When I gave the timeline for continued depreciation of naira two weeks ago, a smart Alec came out swinging. How did I know? Simple. But that will be a discussion for another day because it will be a waste of information on many of you

Devaluation of currency favours exporting countries. US always blames China for currency manipulation. Japan is benefitting heavily from the devaluation of yen. What is Nigeria benefitting from naira devaluation? Nigeria doesn't produce anything. Everyone is on buy buy buy mode. Even something as simple as molding blocks, Nigerians won't do it right. When they try to produce, they concentrate in making fake ones like medications and liquor that they cannot export.

Nigerian problems are multi-faceted. I don't think there is anything the FG or anyone can do. The National orientation in the last 40 years is built on a faulty and shaky foundation. Most TikTok videos from Nigeria are about dancing and comedy skits--nothing intellectually challenging gets high views. What is the highest export from Nigeria? Online insults--sadly it cannot be monetized. If no be say I be better person, I will say that the country is cursed.

/

Babalegba:
When you invest in a volatile market and the general manager of the market says that he would do nothing to protect your investment,you would get worried and pull out because the assumption all along was that Nigeria is doing a managed flotation.

^^^
No.

The two scenarios are dissimilar.

In scenario 1, according to you, regular individuals loudly and stridently accused the government of running down fx reserves in an attempt to defend the Naira...the noise was so loud that Cardoso was forced to deny their claims...only for the markets to react violently to Cardoso's denials.

I repeat - there is a problem when a central bank governor's denial (of the claims of ordinary Mr. Wazobia on the street) spooks the markets instead of calming them. Who is running the country's monetary policy - Cardoso or the 'Obidients' you referred to?

There is a significant difference between scenario 1 above and your second scenario which talks about negative market reactions to a fund manager's indifference (to the safety of investors funds). They are definitely not the same thing and they are not analogous!

Does a 'unification' of exchange rates imply a managed float?

Babalegba:
I do pity Nigerian children but the adults deserve all the suffering they get,they are greedy, selfish, callous self inflated retards who pretends to be intelligent.
One million to one dollar might get some sense into their vacuous heads. Let's pray for that.

^^^


You are very angry with Nigerian adults. Why?

theredaddy:



Don't patronize me bro ! i asked you very simple question that could have thrown more light into whatever the arguement is about

Whether america is the most sorted currency in the world or not, Buying dollar to hoard or resell is not the same as Buying security bonds.

Now you said the should 1st fix the naira,
simple analog.. if i am cleaning up the house and my children are following behind with mud in their hands rubbing it on the floor & walls won't it be a endless cycle But imagine as i am cleaning my children join with mopper to wipe behind me .. common sense

You can never see a chinese, british or japanese buying dollar to keep at home or resell ... these is an indication Nigerians are sick

No need to continue this discussion. Have fun

tctrills:

No need to continue this discussion. Have fun

educating you was fun

Alexis11:


Tinubu is 1 million times better than Obi. And that is a fact!

How?

idahme:


Critical thinking skills is actually very rare to come bye these days

This is coming from an adult whose brain is supposedly fully d developed? I can't believe this.

You don see am now

Tell why we would not remain a 3rd world country?

[quote author=Elzazzi post=129653572]
]
What Is it with this naira/dollar debacle. Isn't naira our currency [/quote
Ask Cardi B

theredaddy:



Don't patronize me bro ! i asked you very simple question that could have thrown more light into whatever the arguement is about

Whether america is the most sorted currency in the world or not, Buying dollar to hoard or resell is not the same as Buying security bonds.

Now you said the should 1st fix the naira,
simple analog.. if i am cleaning up the house and my children are following behind with mud in their hands rubbing it on the floor & walls won't it be a endless cycle But imagine as i am cleaning my children join with mopper to wipe behind me .. common sense

You can never see a chinese, british or japanese buying dollar to keep at home or resell ... these is an indication Nigerians are sick

Jargon...

Who stock more dollar and used it to buy his way into power than your god and Messiah, Tinubu?

blueAgent:


Jargon...

Who stock more dollar and used it to buy his way into power than your god and Messiah, Tinubu?

Who send you to define jargons

redsun:
How on earth can the currency of a country without electricity and pipe borne water in the 21st century compete with the almighty dollar? The government should channel the hard earned resources into providing the basics for the country to work it's way out of the dark age.

Worrying about Naira's internationally status should be the least on the government agenda at this point in time where the people chronically lack the basics.

I tire for the cash and carry Lootocrats o. They think that a Country's currency can be shored up by brute force especially when that country is being run by unpatriotic and greedy criminals and a commander in thief with a drug past and a sordid present.

theredaddy:


educating you was fun

Your ignorance was not funny to me and your dishonesty was a shame. Anyway have a great life.