Ameri9ja's Posts
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 Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 11:14am On Feb 11, 2018 |
sonmvayina:And you really believe that's how man came about? How about goats and puppies? |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 11:09am On Feb 11, 2018 |
hopefulLandlord:If you read or encounter true word of God, it will hit u. Somehow you'll know. Don't ask me how. |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 11:01am On Feb 11, 2018 |
sonmvayina:And how does that agree with your theory. Point is YOU DON'T KNOW. You don't even know if we actually exist at all. |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:58am On Feb 11, 2018 |
hopefulLandlord:And what was the motive? And what sustained it from Abraham to Egypt and Pharoah to David? |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:52am On Feb 11, 2018 |
Sodiquinone:How is this immorality? Na wa 4 you o. There are much better examples and this is the one u pick? |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:48am On Feb 11, 2018 |
hopefulLandlord:True words if God are powerful unlike words of supernan, etc |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:44am On Feb 11, 2018 |
Onepointfiveodds:Please what is "just concluded britannia" |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:40am On Feb 11, 2018 |
sonmvayina:HOW DO YOU KNOW? |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:39am On Feb 11, 2018 |
sonmvayina:Begs the question:HOW DO YOU KNOW? How do u explain people who come back with scars of wounds that killed them? |
| Christianity Etc › Re: The Word Of God Is Powerful! by ameri9ja: 10:31am On Feb 11, 2018 |
True. But always remember, just because something is in the bible does not mean it is in tune with Christianity. You should be guided by the living CHRIST in you. Some things in the bible clearly have no part in Christ. 5 Likes 1 Share |
| Celebrities › Re: Monalisa Chinda: My Daughter Saw Tiwa Savage And Abandoned Me At Lagos Marathon by ameri9ja: 1:12am On Feb 11, 2018 |
Desirae:So she put some make-up. BIG DEAL! Still a beauty anywhere, anytime |
| Celebrities › Re: #bbnaija: Kemi Olunloyo Reacts To Tweets That Anto Sounds Like Her by ameri9ja: 7:08pm On Feb 10, 2018 |
Thrash. This, front page??!! |
| Celebrities › Re: Tiwa Savage Celebrates Her Father's Birthday. Shares Photos With Him by ameri9ja: 3:13pm On Feb 08, 2018 |
HBD sir. Your beautiful daughter is a gift to 9ja! 1 Like |
| Family › Re: My Landlord by ameri9ja: 11:56am On Feb 08, 2018 |
zaramtips:"Fatal accident" and he is still alive! Your write-up is riddled with bloopers. First work hard at learning to write simple correct English, at least to elementary school level. |
| Car Talk › Re: Innoson: The Story, The Journey And The Truth About Innoson Motors by ameri9ja: 10:03am On Feb 06, 2018 |
Point is he is providing JOBS regardless of anything else while politicians are only thieving. 2 Likes |
| Celebrities › Re: Tiwa Savage Celebrates Her 38th Birthday Today by ameri9ja: 6:45am On Feb 06, 2018 |
Happy birthday Miss T. Evergreen international beauty. And that voice! |
| Celebrities › Re: Wizkid Celebrates Tiwa Savage's 38th Birthday With These 5 Pictures by ameri9ja: 3:01am On Feb 06, 2018 |
mexxmoney:International beauty. In any language, in any culture, in any country, she is BEAUTIFUL! PLUS voice! 2 Likes |
| Celebrities › Re: Wizkid Celebrates Tiwa Savage's 38th Birthday With These 5 Pictures by ameri9ja: 2:58am On Feb 06, 2018 |
Threebear: 1 Like
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| Celebrities › Re: Man Orders For A Sex Doll That Looks Like Mercy Johnson (Photos) by ameri9ja: 3:22am On Feb 04, 2018 |
HajimeSaito: 1 Like
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| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 3:42am On Dec 26, 2017 |
rookidmart:U r making a rather foolish argument. What u should be saying is that intrinsic value is irrelevant in a case like bitcoin. Just as someone should not be worrying about the intrinsic value of a $100 note. What u should be saying is that bitcoin CAN be very useful and valuable and CAN be used to represent just about any unit, not that it has intrinsic value, which it clearly doesn't. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 2:52am On Dec 26, 2017 |
rookidmart:That's the whole point: unlike USD they are backed by nothing, which is why Naira, for example, can buy virtually nothing outside Nigeria. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 2:44am On Dec 26, 2017 |
rookidmart:Like I said: weird definition of "intrinsic". Here is real-world definition of "intrinsic": What something can be used for BY ITSELF. $100 bill can be used to roll a joint. We r not talking about value, but about INTRINSIC VALUE. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 2:23am On Dec 26, 2017 |
rookidmart:Oh yeah, wishing u and yours a very merry Xmas |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 9:49pm On Dec 25, 2017 |
rookidmart:USD is backed by the fact that it is about the only currency u can exchange for oil (which is really the true world currency ). Of course bitcoin can replace it in that regard, hence the title of the thread. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 9:33pm On Dec 25, 2017 |
rookidmart:I told u already: gold's intrinsic value is that it can be used to make beaitiful, durable things. That's the intrinsic value of gold. Unless u have a weird definition of "intrinsic". I never said fiat has much intrinsic value. But fiat may have quite substantial intrinsic value, depending on what it is made from. If it is hard currency made from gold for example, then it does have substantial intrinsic value. Under no circumstances can bitcoin have any intrinsic value. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 9:22pm On Dec 25, 2017 |
rookidmart:I have to admit u have a point. Funny that Greenspan was completely oblivious of the fact that, in describing bitcoin, he also just described USD exactly. EXCEPT, there is a difference: USD is backed by US govt while bitcoin is backed by nothing. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 6:23am On Dec 25, 2017 |
rookidmart:I think this illustrates the meaning of "intrinsic" well: Fiat money is a currency without intrinsic value, established as money by government regulation. It has an assigned value only because the government uses its power to enforce the value of a fiat currency. It was introduced as an alternative to commodity money and representative money. Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange (such a good is called a commodity). Representative money is similar to fiat money, but it represents a claim on a commodity (which can be redeemed to a greater or lesser extent). The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used by various countries, usually concurrently with commodity currencies. Fiat money started to dominate in the 20th century. Since the decoupling of the US dollar to gold by Richard Nixon in 1971, a system of national fiat currencies has been used globally, with freely floating exchange rates between the national currencies. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 5:58am On Dec 25, 2017 |
rookidmart:Of course "backed" is in quotes. Does that have to be spelt out? It simply means that it derives much of its power from Oil. I mean the Naira is also backed by "full faith and credit of the Nigerian government" but u can't buy oil with it. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 5:49am On Dec 25, 2017 |
rookidmart:Emphatically, YES. Here is definition of "intrinsic value": "The intrinsic value of something is said to be the value that that thing has “in itself,” or “for its own sake,” or “as such,” or “in its own right.” Extrinsic value is value that is not intrinsic." In other words, by this definition, bitcoin has no intrinsic value. rookidmart:But what someting can buy at a given point in time is not it's intrinsic value, which is what we are discussing. It's intrinsic value is what it is still good for if no one would accept it as payment. Hence the intrinsic value of a $100 note is about 10 cents, or that it can be used to role a joint or sniff coke or put on a wall as art. Bitcoin on the other hand, if everyone stops accepting it as payment, would have no real-life use - it would be worth zero, which was it's original worth. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 8:54pm On Dec 24, 2017*. Modified: 9:31pm On Dec 24, 2017 |
rookidmart:I find this interesting: HOW US REPLACED GOLD WITH OIL AS BACKING FOR THE DOLLAR The French President de Gaulle and other leaders from other countries wanted back their gold in exchange for USD at $35 per ounce, as agreed earlier. This is where the US gold reserves got reduced and the US was scared, so that it wanted to get out of Bretton Woods agreement. In 1971, Nixon announced that the US would no longer give its gold in exchange for USD and the latter has value by itself. Basically, the US printed so much money that its gold couldn't back even a small portion of USD supply. So, the US basically reneged on the agreed upon international gold standard. Under these conditions, the inflation would have gone so high that the US dollar would lose the biggest part of its value. But this can’t happen when smart guys manage the US. So, while the US dollar was not backed by gold and the US decided its dollar can be a floating currency (fiat money), the US decided to make some agreements with Saudi Arabia. The US would give Saudis a lot of stuff (much of which is secret till today) and all the Arabs had to do was this: The Saudis agreed to price all of their oil sales exclusively in USD. The Saudis would be open to investing their surplus oil proceeds in US debt securities Soon, more OPEC (oil producers) countries joined and they benefited from US protection in exchange for selling their oil exclusively for USD. So the US prints paper and can buy as much oil as they want with that paper. Also, the US could print paper to buy all the stuff on earth. How this happened? Well, think about China - it’s a big big country that required huge investments in infrastructure. In short - it required “infinite” oil. So, China would go to the Arabs and would ask for oil - the Arabs would say they sell only for USD - the Chinese would go to the US and would ask for USD so that they could buy oil from Arabs - and finally, the US could print its money and buy everything China has to offer. The same is true about Japan and many other countries that don’t have oil. So, since Japan and China needed so much oil, they said to the US - let us sell all of our stuff to your country so that we could accumulate more paper (USD). This is why, for example, the US is called a consumption economy (consumption accounts for 70% of the US GDP) while China is called a production economy (consumption accounts for only 34% of Chinese GDP) JustCryptos |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 8:25pm On Dec 24, 2017 |
rookidmart:How dare u compare bitcoin to gold. Gold can be used to make shiny things of lasting beauty that never rusts or fades. People would be willing to batter things for gold without ANYTHING else involved. Nobody would give u a dime for a bitcoin with nothing else involved, which was it's initial value. In other words gold by itself has real-life use while bitcoin has absolutely none. |
| Business › Re: Will Bitcoin replace USD as world currency? by ameri9ja(op): 8:13pm On Dec 24, 2017 |
JustCryptos:Thanks. And I hope u do same: if u come across something interesting or informative please post it so we can enjoy discussing it and maybe also learn. Meanwhile I saw this: By 1973, the Bretton Woods system was replaced de facto by the current regime based on freely floating fiat currencies. Background In 1944 in Bretton Woods, New Hampshire, representatives from 44 nations met to develop a new international monetary system that came to be known as the Bretton Woods system. Conference members had hoped that this new system would “ensure exchange rate stability, prevent competitive devaluations, and promote economic growth."[2] It was not until 1958 that the Bretton Woods system became fully operational. Countries now settled their international accounts in dollars that could be converted to gold at a fixed exchange rate of $35 per ounce, which was redeemable by theU.S. government. Thus, the United States was committed to backing every dollar overseas with gold, and other currencies were pegged to the dollar. For the first years after World War II the Bretton Woods system worked well. With the Marshall Plan, Japan and Europe were rebuilding from the war, and countries outside the US wanted dollars to spend on American goods—cars, steel, machinery, etc. Because the U.S. owned over half the world's official gold reserves—574 million ounces at the end of World War II—the system appeared secure.[3] However, from 1950 to 1969, as Germany and Japan recovered, the US share of the world's economic output dropped significantly, from 35% to 27%. Furthermore, a negative balance of payments, growing public debt incurred by the Vietnam War, and monetary inflation by the Federal Reserve caused the dollar to become increasingly overvalued in the 1960s.[3] In France, the Bretton Woods system was called "America's exorbitant privilege"[4] as it resulted in an "asymmetric financial system" where non-US citizens "see themselves supporting American living standards and subsidizing American multinationals." As American economistBarry Eichengreen summarized: "It costs only a few cents for the Bureau of Engraving and Printing to produce a $100 bill, but other countries had to pony up $100 of actual goods in order to obtain one".[4] In February 1965 President Charles de Gaulle announced his intention to exchange its U.S. dollar reserves for gold at the official exchange rate.[5] By 1966, non-US central banks held $14 billion, while the United States had only $13.2 billion in gold reserve. Of those reserves, only $3.2 billion was able to cover foreign holdings as the rest was covering domestic holdings.[6] By 1971, the money supply had increased by 10%.[7] In May 1971, West Germany left the Bretton Woods system, unwilling to revalue the Deutsche Mark.[8] In the following three months, this move strengthened its economy. Simultaneously, the dollar dropped 7.5% against the Deutsche Mark.[8] Other nations began to demand redemption of their dollars for gold. Switzerlandredeemed $50 million in July.[8] France acquired $191 million in gold.[8] On August 5, 1971, the United States Congress released a report recommending devaluation of the dollar, in an effort to protect the dollar against "foreign price-gougers".[8] On August 9, 1971, as the dollar dropped in value against European currencies, Switzerland left the Bretton Woods system.[8] The pressure began to intensify on the United States to leave Bretton Woods. rookidmart |
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