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 Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 3:25am On May 08, 2013*. Modified: 5:41am On May 09, 2013 |
https://static.offshoreenergytoday.com/wp-content/uploads/2012/04/Norway-Alfa-Laval-to-Equip-Offshore-Platform-with-Fresh-Water-Generators.jpg [size=20pt]Nigeria is richest country in Africa...$32 Trillion mineral wealth[/size] Nigeria : crude oil reserve about 50 billion barrels, market value is $5 Trillion. natural gas reserves about 190 trillion cubic feet equal 150 billion barrels of oil, market value $15 Trillion bitumen (oil sand) reserves about 42 billion tonnes equal 100 billion barrels of oil, market value $10 Trillion oil related minerals value about $30 Trillion nigeria has 34 different types of solid mineral deposit in reserve. total value is not known, nobody really cares. however, the deposits sizes of iron ore, coal, and limestone are well known and proven. we can make rough estimate of $2 Trillion total market value for all of them, especialy nigeria's huge deposits of limestone, coal and iron ore, then ; Nigeria's total mineral wealth is $32 Trillion weblink sources http://en.wikipedia.org/wiki/Petroleum_industry_in_Nigeria http://en.wikipedia.org/wiki/Oil_reserves_in_Nigeria http://www.nipc.gov.ng/deposit.html http://www.mmsd.gov.ng/solid_minerals_sector/34_minerals.asp Congo DRC comes second to nigeria with mineral wealth of $24 Trillion weblink source http://en.wikipedia.org/wiki/Mining_industry_of_the_Democratic_Republic_of_the_Congo ... |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 2:16am On May 08, 2013*. Modified: 3:52am On May 08, 2013 |
. <iframe width="640" height="360" src="http://www.youtube.com/embed/bzXV6OoewDM?feature=player_detailpage" frameborder="0" allowfullscreen></iframe> |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 2:02am On May 08, 2013*. Modified: 3:26am On May 08, 2013 |
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| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 2:01am On May 08, 2013*. Modified: 2:20am On May 08, 2013 |
all4naija: The truth is that Nigeria doesn't explore for gas. Most of the gas in Nigeria were found during oil exploration and Nigeria has been flaring it gas for years. The nation is more of a gas giant than oil.nigerian gas reserves is about $15 Trillion market value and still increasing with new discoveries. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:54am On May 08, 2013*. Modified: 2:13am On May 08, 2013 |
. Nigerian airforce newly purchased Terminator helicopter gunships. [img]http://beegeagle.files./2011/09/terminator-mi-8amtshexport-modelmi-171shassaulttransport-helicopter1.jpg[/img] |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:06am On May 08, 2013*. Modified: 12:55am On May 08, 2013 |
zetdee: I'm refering to minerals not oil and gas. I've checked on the web, i see DRC's mineral wealth is at $24trillion, the most reliable research was published by citi bank and SA was No 1 at $ 2.4trillion.oil and gas are mineral resourcs non-metals called called hydrocarbons. the other minerals like gold, platinum, iron ore etc are metals. nigerian metal mineral resources reserves are not fully documented, we dont focus on them for now, we major on oil and gas. nigerian has 34 different types of solid mineral deposit in reserve. total value is not known, nobody really cares. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 7:20pm On May 07, 2013*. Modified: 1:13am On May 08, 2013 |
. nigeria has $24 Trillion mineral wealth reseves congo DR has $36 Trillion mineral wealth reserves can anyone post south africa's figure with reliable sources weblink proof ? i have proof for nigeria's with sources. . |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 5:39pm On May 07, 2013*. Modified: 7:15pm On May 07, 2013 |
[size=16pt] sorry I meant TRILLION dollars NOT billions[/size] I have corrected the typing error, read below : nigeria has $24 Trillion mineral wealth reseves congo DR has $36 Trillion mineral wealth reserves can anyone post south africa's figure with reliable sources weblink proof ? i have proof for nigeria's with sources. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 5:19pm On May 07, 2013*. Modified: 5:37pm On May 07, 2013 |
. [img]http://1.bp..com/_ySFE6T7lppg/S7AJ3C4uKoI/AAAAAAAAALA/MqIpxmeuuD0/s1600/cash.gif[/img] south africa exports $101 billion, imports $107 billion, negative balance of payment -$6 billion anually nigeria exports $97 billion, imports $70 billion, positive balance of payment +$27 billion anually nigerian economy is better in cash liquidity than south africa based on the above. nigeria has a saving frugal economy like china/japan in 1970s. south africa has a spending welfare tending spendthrift economy like america/britain 1990s. the welfare state system is a financial burden on america/europe and south africa is beginning to weaken financially from welfare state model. they dont have too much gold to export. platinum is not a hot cake like oil and gas. who is better ? be honest and ignore national pride and ego. sources : http://en.wikipedia.org/wiki/Economy_of_South_Africa http://en.wikipedia.org/wiki/Economy_of_Nigeria for nigeria and south africa, unemployment rate is almost the same with 1% difference, poverty rate is very close with 10% difference. does anybody have reliable sources with different figures to challenge me ? south africa is NOT the paradise people think it is. beautiful buildings and modern infrastructure is not a measure of real cash liquidity. can anyone quote a finance textbook to prove me wrong ? |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 4:09pm On May 07, 2013 |
andrewza: More likly this nigerians site anti spam bot just banned him for no resone. I have had it done to me many times.No ban without a reason. You get banned when you insult people too much. You get what you deserve. Simple. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 4:05pm On May 07, 2013*. Modified: 4:20pm On May 07, 2013 |
sheyie2007: In as much as I do not "totally" agree with their claim, I do see some points in their assertions.the above web links proves what I have been saying. GDP is an outdated measurement of which country is richer. the web links above are a proof that modern economists don't believe in GDP as final authority. all those arguing with me are lost in the stone age of ancient outdated economics. modern day financial analysts are very revolutionary in thinking, they intelligently think outside the old school box. This is why most people here cannot understand my simply but shocking mathematical revelation of south African NoT richer than nigeria If we sit before an intellectual panel of judges who have high degrees in finance, I will defeat all of you combined together with my cash net worth calculations. Augustine is not boasting, just saying, no pride. south Africa is living on debt and spending more than her income. Simple, that's very bad. Economic crisis is a time bomb it takes time to explode. Tell your president to copy Nigerian new economic model or else south Africa will end up like Greece, Spain, Cyprus, Britain, America in their present poor cash situation of weak liquidity and poor cash net-worth. Love me or hate me...i spoke the truth. Swallow your pride because ego won't save south Africa. You must restructure your Economy and control your wild appetite and taste for imported foreign goods. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 3:37pm On May 07, 2013 |
sheyie2007: And what's your point with the above? Haven't you heard, rating matters but product countsdon't mind him, he is a copy and paste master. Nigeria graduates are doing better than American graduates in USA when they work in same place. Nigerian medical doctors are sitting on top of the heads of all other African medical doctors in Europe and America. Nigerians are known to be the most intelligent black people on the earth....Ghanians come second. South Africa is likely behind Kenya, Uganda, Zimbabwe in the area of black brains intelligence. I have hurt their ego again, they cannot tolerate truths in south Africa, they go C.razy if the truth does not favor their over-rated country. South Africa spends all her export revenue on importation and has huge foreign debt it cannot afford to pay the principal loan. can anybody prove me wrong with data and sources? south Africa has negative balance of payments as at today, but Nigeria is many times better. I am waiting for any chartered accountant or professional economist, or a qualified Bank manager with many years experience to come out boldly and prove me wrong with data and sources, NOT personal beliefs from the stone age. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 3:16pm On May 07, 2013 |
andrewza: wikpedia is not a source on it's own. It is a open source site, any body can say any thing on wikpedia. when useing wikpedia scroll done and check if there are sources on there. wikpedia is never ment to be braged about and is not neutrial.I actually started my topic on page 229 with these 3 other sources NOT Wikipedia, http://allafrica.com/stories/201209120083.html http://data.worldbank.org/sites/default/files/gdf_2012.pdf http://www.resbank.co.za/Pages/default.aspx but I discovered that these 3 sources including south African government reserve bank website were all agreed in the same data and figures in Wikipedia, so I switched over to Wikipedia source because it is neutral and simple to read, the other world bank and south African bank data is too complex and loaded with details people don't have time to read. I like making simple easy to understand and clear arguments for honest and sincere people to comment, not people who think their ego and pride is injured if Nigeria is better than south Africa in any thing.. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 3:06pm On May 07, 2013 |
all4naija: I understand what you are going about. In the present world those never determined to large extent the economy of many countries. It is right we develop than boasting to a well established economy that know the rudiments and what it takes to keep sustaining its people in a high standard of living. The truth is that we haven't understand that basic of economics, sustainability of a high standard of living.Economics text book defines Nigeria as FRUGAL ECONOMY, but south Africa is WELFARE STATE and they sometimes tend towards SPENDTHRIFT ECONOMY and that is what K.illed America today. Nigeria saves much more than south Africa in net-savings, debt minus surplus cash. That's the best liquidity formula in any accounting textbook Nigeria has 13 times more liquidity than south Africa in cash terms. This is simple year one accounting topic in university. Augustine is an accountant with a masters degree, he just likes to write on military topics and works in defense industry. I am raising alarm about south African economic liquidity position that their government is mot telling them. Instead of thanking me they are attacking me on this forum, just because they don't want Nigeria to be better than south Africa in any thing at all. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 2:58pm On May 07, 2013 |
the above hidden post, someone must have tried to insult me. he got banned for it. i just guessed. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 1:30pm On May 07, 2013*. Modified: 4:24pm On May 07, 2013 |
all4naija: Do you think that really judge how rich economy is? If not, USA should be termed as poorer than Nigeria when we are to use this your mathematical formula. It just tells us one thing that Nigeria has a problem it can not solve about its economy to bring out the poor masses from their poor conditions. So, I would define such economy as poor.Yes, truth is sometimes hard to believe, America is poorer than Nigeria today. America has an old glory that no longer shines. China too is richer than America. Real financial analysts don't judge countries wealth by name, image, status or global influence. Russia too is richer than America today. My economics mathematically shocked all of you. That's the bitter truth. Nigeria is rich but MISERLY, it refuses to eat the food it has cooked but puts it in a refrigerator. China and Japan started like that about 50 years ago, see the result today . |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 1:19pm On May 07, 2013 |
Wikipedia is the only neutral and freely accessible source of information for a forum like this. Many people have used it on this thread. Don't be a crook avoiding it because it does not favour your belief ..your outdated belief that if mathematically faulty. you talk more English than economic, accounting, and mathematics...you are far less intelligent than you rate yourself. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 1:17pm On May 07, 2013 |
AwodwaGyanOniwe: @AgaI answered you above page top. You are lost in stone age. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 1:16pm On May 07, 2013 |
@AwodwaGyanOniwe listen dunce, Wikipedia is the only neutral and freely accessible source of information for a forum like this. Many people have used it on this thread. Don't be a crook avoiding it because it does not favour your belief ..your outdated belief that if mathematically faulty. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 1:08pm On May 07, 2013 |
all my posts have quoted sources from Wikipedia which is a neutral source. most other people post their old time outdated layman beliefs with no source to prove and no figures or fomula calculation. So far, nobody here has displayed any mathematics to challenge my own simple mathematics. In an academic environment, my posts will defeat all of you because i have proved my point mathematically.....Nigeria is richer than south Africa in net-worth value of government cash wealth what i just proved is too shocking for everybody to believe except @souldust. the rest of you cannot think outside a closed box that you are used to...old belief of many years that south Africa is richer than Nigeria, but today the economic figures of cash flow and net-worth has changed. South Africa imports more than she exports and has negative balance of payment....bad sign of economic time bomb. Nigeria has surplus of more export revenue bigger than import bill....good sign of economic strength. my economics is NOT bad, it is scientifically sound. Net-worth is the way banks judge who is richer and who is poorer. Banks avoid a debtor who spends more than he earns. My valuation of Nigeria vs south Africa cash government net- worth is based on perfect accounting principles. If you try to fault it, you will fail. The texbook of financial management proves me right. Any chartered accountant here to challenge me ? I am ready for you. I challenge anyone to mathematically prove me wrong....you will fail . . |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 3:30am On May 07, 2013 |
zetdee: South Africa doesn't import a large part of its food, we are self sufficient and a net food exporter. But Nigeria even though agriculture accounts for a large part of its economy, is not self sufficient and a net food importer.nigeria has NEVER experienced famine or hunger despite all these published alarms. nigeria exports food too, and we have food/grain reserves in massive silos storage for emerygency. we import a lot of wheat for bread because it cannot grow in hot nigerian climate. we import rice a lot but government is changing that gradually. more local rice grown in nigeria. we eat a lot of yam, beans, gari/cassava all grown in nigerian farms. we have our poultry farms and banned/stopped import of chicken. we have our fulani cows. nigeria is secure with food, no wahala. south africa imports food a lot...real foodstuffs, confirm on weblink below http://en.wikipedia.org/wiki/Economy_of_South_Africa |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 3:05am On May 07, 2013*. Modified: 3:43am On May 07, 2013 |
all4naija: I am not going to argue about which country is richer in terms of economy. That is clear far South African economy is well developed and richer than Nigeria.https://www.greenworldinvestor.com/wp-content/uploads/2012/11/coins-bars.jpg i am comparing who has more cash/dollars to spend i am not comparing infrastructural development, beautiful cities, high salaries that get swallowed up by high utility bills in the home, eg electricity, water, phone etc. however, abuja is more beautiful than most places in america and europe. you choose to be sentimental and not factual, south africa has a heavy foreign debt of $43 billion, nigerian debt is $7 billion. south africa spends all her export revenue on import expenses and has little remainder in balance of payments. you may not be a finance professional, but i am. i know how to use uncommon economic indices and know who is truly richer instead of who is believed by people to be richer. nobody has proved my net-worth analysis to be wrong, all people talk about is GDP. can GDP be used to buy things in the international market ? NO ! you spend cash to buy things. nigeria has more net-cash in real terms, than south africa, because if south africa pays off her external debt she will have $3 billion surplus in her pocket. if nigeria pays off her external debt she will have $40 billion surplus in her pocket. so what is riches ? is it not money ? what is money ? is it not cash ? south african economy is sitting on a time bomb. people dont know, they just use sentiments to judge. the better more modern infrastructure in south africa does not translate into purchasing power to buy things and spend money. the man with more savings less debt, is richer than the man with big beautiful houses on which he owes mortgage he has not paid the principal amount, but he only pays interest portion of the loan...debt servicing. only a finance expert can see these things and reason it out. whats your point ? wikipedia says south africans eat better food with higher salaries/grants, yes, but their government is heavily burdened with debts partly because it is practicing some kind of welfare state, giving monetary benefits to its citizens...many of whom are unproductive blacks. nigeria economy is growing 3 times faster south africa, that is how china slowly overtakes america today. i live in america, i have travelled to europe for sometime. i can tell you that there is no real paradise on earth except places like saudi arabia, kuwait, qatar, and those arabs at that level, not all arab nations. if you stay long in nigeria you believe other countries are better, travel out bros, live in europe and see reality. you earn $3,000 a month and pay bills of $,2500 every month. i know how these white man countries operate their society. nigeria un-noticed, subsidizes education. a student medical doctor in nigeria needs about =N= 500,000 to graduate and thst is $3,000. a student medical doctor in america/europe needs about $120,000 to graduate, thats why america and europe are stealing nigerian doctors by brain drain. the educational system in nigeria which you hate is heavily subsidized by government. that LASU =N=80,000 school fee is only $500, but in america you will pay $10,000. i live in white mans land and i know his weak points...very many. ask me which country is better, nigeria or america ? my answer...none ! both are equally bad or equally good. surprised ? yes, thats reality and truth. people have too much debts on credit cards overseas, all these white people...many have between $3,000 to $10,000 debts on credit cars not paid for over 2 years. roses have thorns my brother. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:54am On May 07, 2013 |
[size=16pt] nigeria testing locally made long-range rockets/missiles at epe town on lagos sea coast[/size] @Spirit says: July 22, 2012 at 5:09 am @Henry, Your country has been “secretly” building and testing long range rockets (missiles?) in Epe, Lagos state. I know guys living in the area that claim they sometimes see the missiles soaring into the night skies even before the MOD made it public some 3 years ago. I thought the projects has been scrapped until the minister mentioned it last month. http://beegeagle./2012/07/21/nigeria-success-story-in-defence-industry/ quote from : Dr. Robert Ajaiyi Boroffice granted, before separating officially from the National Space Research and Development Agency (NASRDA)— where he served as Director-General and Chief Executive Officer for eight years "I once wrote a story in The Sunday Guardian about NASRDA’s testing of experimental rockets at Epe, Lagos State…That caused quite an up-roar, globally! Yes. So you can see what I mean! (Laughing) It’s a very sensitive issue. So, where does the space programme go from here? We are at a very critical stage of the space programme in Nigeria. NASRDA is putting one of the most important infrastructures on ground." weblink source http://ihuanedo.ning.com/group/betterlivingofedolitesandnigerians/forum/topics/nigeria-space-agency-at-the-crossroads https://www.channelstv.com/home/wp-content/uploads/2013/04/science1.jpg |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:35am On May 07, 2013 |
nigerian military destroys south african naval blockade of its waters this post will be made this week on this forum, a nigerian counter attack on south african navy blocking oil exports on nigerian ocean waters. a simulation of real war. https://upload.wikimedia.org/wikipedia/commons/thumb/e/e7/Badge_of_the_Nigerian_Navy.svg/100px-Badge_of_the_Nigerian_Navy.svg.png |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:27am On May 07, 2013 |
. [img]http://1.bp..com/_RZOUCGES70M/TKYooaz8jfI/AAAAAAAAAHY/IkXByd9iYw4/s1600/EconomyDollar.jpg[/img] [size=18pt]south africa is NOT better than nigeria....proofs[/size] nigeria's GDP growth rate is 3 times bigger than south africa. nigerian economy is growing 3 times faster than south african economy the above sources also say that oil is only 14% of nigerian GDP, agriculture is 40%. south african GDP is 65% services, agriculture is only 2%. thats not a good sign. south africa imports food on large scale. povery rate, nigeria 45%, and south africa 35%, very close to each other. unemployment rate, nigeria 24%, and south africa 23% south africa is highly over-rated weblink sources http://en.wikipedia.org/wiki/Economy_of_South_Africa http://en.wikipedia.org/wiki/Economy_of_Nigeria |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:10am On May 07, 2013 |
paniki: Your economics is bad.Your financial intelligence is weak. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:09am On May 07, 2013 |
andrewza: Here the problem. You the only one who thinks this. Debt is only a problem if you strugel with payments. And we not strugling.debt is a major signal of riches. if you have $1000 savings and debt $900, the man with $300 savings and $100 debt is richer than you are. debt reduces riches and it always hangs on your head like a dog chain. andrewza: Next GDP per capita is how much money is aviabil per persone. And SA has 6 times has much has nigeriasNO, south african GDP per head is 3 times nigerian GDP per head, NOT 6 times ! NO WAY ! i used Adam Smith's definition of economics...an inquiry into the nature and causes of wealth of nations. i used that principle to prove that nigeria is richer than south africa. GDP is total market value of goods/services produced in a country, but when those goods are sold, does all the money go into government pocket ? NO. i am judging the wealth of the two nations nigeria and south africa....i figured out how rich each government is, and nigeria is richer than south africa because of much less external debt andrewza: Next GDP per capita is how much money is aviabil per persone. And SA has 6 times has much has nigerias.GDP is NOT how much money each citizen of a country has, GDP is total value of goods/services produced in the country. it does NOT show real cash in peoples pocket because when some of the goods are produced the money goes into pockets of the business owners but employees only get salaries. also, all goods are not sold that same year, they become unsold inventory/stocks and they dont put money in anybody's pocket in that condition. spain's GDP almost 3 times nigerian GDP but spain is in economic mess because of cash crisis. a country cannot spend GDP, but it can spend cash to buy imports. @souldust also mentioned nigeria has a huge informal economy of goods/services produced and not recorded because the people do not report it to government statistics agency just to avoid paying tax, and many people in rural agricultural areas dont report statistics to government....nigeria's published GDP is under-estimated, the real figure is higher. in war, a country's net worth as i calculated for nigeria and south africa, determines how much weapons it can import without borrowing money. andrewza: Next. Budget. SA Budget is far highers than nigerias and we have a smaller popualstion.i explained the budget issue. south african economy is different from nigeria, we use oil price to budget and we always under-estimate the value of our oil revenue every year, we make more money than we budget and we have surplus billions of dollars every year. thats why nigerian defense budget is not the limit of money we spend on defense in reality, we spend more by taking money from the surplus oil sales revenue. andrewza: I may not have a degree in economics. But not because I can't get it, but because I don't care for one.it takes more than BSc degree in economics to figure out my analysis, it requires many years of practical understanding of how national wealth and personal wealth relate to each other. people talk a lot about GDP because thats all they know. there are people with money in nigeria, millions of cash in their houses hidden outside the bank system, no records. 1 Like |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 6:17pm On May 06, 2013*. Modified: 11:35pm On May 06, 2013 |
AwodwaGyanOniwe: @Agamaybe you are a Ghanaian living in south Africa, well that's your problem not mine. Nigeria has untapped oil, gas, bitumen, oso condensate reserves, solid minerals/precious stones/rare metals valued at about $24 billion. DRC Congo has billions out $36 billion and is richest minerals reserves in Africa, but that country that's far behind Nigeria in infrastructure. Most of congo DRC wealth will be used to build infrastructure in future to reach the development level of Nigeria and south Africa, then the remaining money in DRC Congo's pocket won't be so much more than the Nigeria and South Africa. Don't boast too much about figures of future projections, nobody knows tomorrow except God in heaven. Who knew America will be cash broke and heavy in debt today ? Clinton left about $500 billion for us to enjoy, but Bush wasted it on war with Iraq and Afghanistan. The future is too much for you to predict. Don't count your chickens before your eggs hatch. You talk like a small boy under-aged. Economics is a deeper subject than your level of thinking. Seek for expert advice. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 5:11pm On May 06, 2013*. Modified: 5:29pm On May 06, 2013 |
andrewza: So ypu can't actually anserw what I siad so you go after my intelect. Anserw me this. Is america poor.I did NOT mean to insult you, if my statement sounds like personal insult on you, then i apologize. We may be punching each other in the nose, but i don't like insulting people about their education finance medical social status. I hate doing that. I reacted strongly because i am very sure of what i wrote and it will take a Phd degree holder in Economics to find a fake 'error' in that post...Nigeria richer than south Africa by $40 billion as at today. America is poor as at today, America is cash broke. America is living on heavy debt, though it's mostly internal debt. Almost all the dollar cash reserves that Clinton left for us was wasted by Bush on Iraq and Afghanistan wars. GDP is high in America, one of the highest GDP in the world, but GDP is not real money in peoples pockets that you can spend, GDP is not cash inside your bank account. America has super high GDP but little cash to spend so it has to borrow and make more debt. GDP is a s.tupid but universally acceptable way of judging wealth of nations. Can i buy bread and milk in the supermarket and pay for it with GDP ? I don't want to argue this topic, the truth is so clear. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 2:49pm On May 06, 2013 |
xhosanostraZAR: How old is Nigeria againEthiopia and Egypt are centuries older than Nigeria but Nigeria is far richer than them combined together. You sound like @DictatorZAR changing to a new username, after he embarrassed himself with the former username. Old wine hiding in a new bottle. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 1:57pm On May 06, 2013 |
andrewza: Why you reposting this bull I all read showed to be a lie.Sorry you don't have the necessary university qualifications in accounting, finance, or economics to fault my post on Nigeria richer than south Africa by $40 billion. Only a very well educated or very intelligent person can challenge that post....and he won't find any error there if he is honest. |
| Foreign Affairs › Re: Who Has The Strongest Military In Africa? by agaugust: 12:44pm On May 06, 2013 |
. https://www.ongreen.com/sites/ongreen.com/files/images/dollars.jpg [size=16pt]south africa is NOT richer than nigeria[/size] http://allafrica.com/stories/201209120083.html http://data.worldbank.org/sites/default/files/gdf_2012.pdf http://www.resbank.co.za/Pages/default.aspx GDP is a poor measure of wealth. Net-worth in terms of dollar/other forex cash reserves minus debts is a better measurement. Regular cash in-flow per month is also very important. the above is the easiest way to determine which country is richer, other methods do not show real purchasing power and savings. both countries have about the same dollar/other forex reserves, but south africa has external debt about 7 times that of nigeria ! south africa's external debt is about $47 Billion nigeria's external debt is $7 billion both countries have dollar/other forex cash reserves about $50 billion cash net-worth south africa about $3 billion cash net-worth nigeria about $43 billion the above means each south african citizen is truly worth $57, while each nigerian citizen is truly worth $243. GDP does not show a country's real financial power. you cannot buy goods from europe/america/china and pay with your GDP, but you can pay with your dollar cash reserves, or your monthly cash flow as usual, south africa is over-rated. subtract their external debt from their dollar/other forex reserve and south africa is cleary in deficit/negative funds. do same for nigeria and we have a surplus of about $40 billion [size=16pt]Nigeria is actually richer than South Africa.....by about $40 billion ![/size] |
?DUMBO!!!!
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