₦airaland Forum

NeoWanZaeed:
You have absolutely no idea what comprehension and understanding means.


The guy has summed up all you are trying to say in the link you posted

Chai. Its not often one comes across this level of stupidity.
The fellow said many countries use the gold standard. He then back tracked when corrected and admitted no countries use the gold standard anymore. Then he resorted to grammar and insults from wounded pride. The raw fact is the gold standard is ancient history. So WTF are you on about?

Its either you are him using another moniker, or you are just plain stupid.

NeoWanZaeed:
Thanks for schooling the ediot

Chai.

Illiteracy on parade.

.
What Is the Gold Standard?
The gold standard is a monetary system in which the value of a country's currency is directly linked to gold.

In 1971, President Nixon terminated the convertibility of the U.S. dollar to gold.

The gold standard is not currently used by any government. Britain stopped using the gold standard in 1931, and the U.S. followed suit in 1933, finally abandoning remnants of the system in 1973.

The gold standard was completely replaced by fiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment. In the U.S., for instance, the dollar is fiat money, and in Nigeria, the naira is.

https://www.investopedia.com/ask/answers/09/gold-standard.asp

TUANKU:
So why does the US govt engage in covert gold-bug operations like they did in Iraq and Afghanistan?

Gold is valuable, just as oil is valuable. Governments and corporations go after such things. So do individuals.

That has nothing to do with any currency being tied to the gold standard. Please and please and please, the gold standard is history - a LONG time ago.

If Zimbabwe wants to resurrect it, thats an experiment and they will have to see how that goes.

TUANKU:
I just mentioned few currencies backed by commodities, yes the gold standard is gone but currencies are still backed by commodities like gold and others. Take away the gold at fort know and see if the value of the US dollar remains the same.
Again you are really a dork.

The value of the dollar has jack shit to do with the gold at Fort Knox. The dollar is fiat money.
Its laughable watching you embarrass yourself more and more.

I have told, you, pride is a stupid and terrible thing.
"Oh I didnt know," will not kill you. No one knows every thing.

MichaelSokoto:
Prof. Economics, biko warris our naira tied to?
no insult, na lecture I want!

Please dont collect lecture from someone who doesnt know that the gold standard was phased out more than fifty years ago when Richard Nixon adopted fiat currency.

RaptorX:
The Libyan people looking stupid now allowing themselves to be used in destroying a once prosperous country. The democracy they were promised is now a mirage and even the Egyptians are back under another lifetime dictaor in AL sisi, so much for the Arab spring.

In real life, after the French Revolution, the French ended up with Napoleon, an Emperor.

In the book, "Animal Farm" after the Animal Revolution, they still ended up with another Napoleon.

TUANKU:
What is false you dork?

Its up to you to reconcile these statements -

Statement 1 -

TUANKU:
Many currencies are backed by gold...

Statement 2 -

TUANKU:
There are no currencies that are backed directly by gold.

Statement 3 -

TUANKU:
Sorry Einstein i have no idea about commodity correlated currencies. That the gold standard is gone does not mean commodities like gold and iron are not used to back currencies.
It happens in Australia, Norway, Colombia, Canada...you can go check it out Einstein
What a dork you are.

But what is the fact of the matter? -

Which Countries are on the Gold Standard in 2024?
As of 2022, none of the world's countries use the gold standard. However, several countries used it in the past

https://worldpopulationreview.com/country-rankings/what-countries-are-on-the-gold-standard-today

Pride is a stupid and terrible thing.

You were wrong. You even admitted that you were wrong. But on account of pride, you first try grammar, then you resort to insults.
Enjoy.

TUANKU:
Commodity correlated currencies. There are plenty of examples of countries where their wealth and currencies are able to be tracked and correlated to a specific commodity or multiple commodities.
The value of the Australian dollar despite not being backed by their commodity asset (Iron) officially, it still has a significant effect on their currency. Many countries have a currency that is closely linked to oil with currency and economic fluctuations coinciding with oil price changes and availability. These include large economies such as Canada, Russia, Columbia and Norway. These are all large exporters of oil, a commodity with a high value in today’s world that relies upon it as a resource.
There are no currencies that are backed directly by gold. However, this doesn’t mean that gold or other commodities are irrelevant to their economy or currency. The Zimbabwe ZiG is backed by both gold and foreign currencies.

Grammar. You said there are many countries with gold backed currency and now you admit that is false. Period. No long thing.

TUANKU:
Many currencies are backed by gold...and it did not lead to civil war.

Nope. That was in the past. The gold standard is history and has been for over fifty years.

Righteousness2:


The ONLY thing that will be Demanded of us is if you have a Genuie relationship with the LORD JESUS CHRIST.

Olodo, is this demanded of Jews?
Enslaved daftie.

Racoon:
Quick resettlement to the affected victims. Nigeria is so fortunate with natural disasters of these kind. Mother nature is so considerate of us.

It's tectonic movements. Africa is the mother plate and is not moving the way other continents are. They are drifting away from the mother plate, the mother plate is quite still by comparison.

djseanjohn77:
Most of you just jump on every thread....while most of you do not even belong in the cat A who are going to be paying the new tariff. I thought most of you do not enjoy the power, why complain....This shid be for people who enjoys 20hrs daily

How hard is it to understand that this will have a ripple effect on prices of commodities just as the petrol price hike did? Is there foam in your head?

seunmsg:
Hopefully, everyone spraying Naira notes at parties will be arrested and prosecuted going forward. Leaving others while persecuting Bobrisky is unfair, callous, vindictive and against natural justice. Everyone should play by the same rule.

Do you know what Al Capone was nabbed for?

Thephilosopher1:
MEN! beware of DNA test
I am totally against infidelity in marriage especially as it concerns true paternity. But see, this DNA thing is not reliable. Anyone can do anything in the laboratory, write whatever and present to you, then if negative you start killing yourself. The DNA process can also be faulty. If you love the woman you married trust her.

Rubbish. If in doubt do two or three tests from different labs and with different swabs taken discreetly. The truth will out.

Jewessgratitud3:
Why should I settle for a single guy who is not celibate?

Mark my words, one, two or all three of the below will happen.

1. You will eat these words

2. You will wait a looooooooong time in the singles market

3. You will be deceived by one who forms holy.

kpakpakpa:
I don't like to argue online madam, some pastors who preach on the pulpit almost everyday are fake.

I'm not against you trying, just be careful cos like i said not all that glitters is gold

Just be careful biko

What is "kpakpakpa"
Can we have the etymology please.

Kusu12:
Baby factory thing, in the land of the so called "billionaires" in the voice of obirodent.

God have mercy. You must see Obi in your dreams at night. Nothing else can explain this obsession.

saphiere:
A Father not knowing he has a child? Hearing this for the first time.

You must be under sixteen then.

saphiere:
That dog deserves a national honors award.

Dear men, if you won't take responsibility for your action use condom.

This is weird. Not a word about the mother who threw the child away, but a stern warning to men?

Do you realize in this instance, the father may not even know that any such child exists?

immortalcrown:
The post says she pleaded guilty. Whether I know what she did or not, she herself pleaded guilty. So, what exactly do you have against my comment?

What you wrote spoke to the use of social media in a way that could only suggest that you were well acquainted with what she did, whereas you knew jack shit.

immortalcrown:
Good!

Social media regulation is necessary. Only a confused person will applaud the court judgement but kick against social media regulation.

What the court did here is exactly what social media regulation is all about. Fake news is bad. Misleading captions for the sake of sensation is bad. Publishing unverified contents is bad.

Those silly social media users thrive on misleading contents because most of their followers lack common sense. People will view a content full of loopholes and accept the content without asking necessary questions.

Meanwhile, what did the TikTok user do against Eniola?

Just look at that last line. It says so much about you. You have congratulated the court and endorsed its action. You then wind up admitting you have no idea what the case was about.

wirinet:
I don't know which one is more blood thirsty and Genocidal, the God of Israel or the God of Ismael? An religion that worships El is Evil. But the God of Rome (Jesus) is supposed to be benign and passifist, but many Nigerians prefers violence and choose to worships the God of Israel in the guise of worshiping the God of Rome.

So eloquently and elegantly said. Perfectly true.

In the OP, the first picture shows a middle eastern man. The second is a picture of a white, European man, plain and simple.

I wonder how any one can believe this obvious fake news.

This man's desperation, prostitution and shamelessness is alarming.

Risingblue008:
If this man can reduce the inflation rate(hyper-chronic)
Then consider me APC member

But i knw its not possible
I just wish prices of commodities could go down
I just wish

Going down is probably impossible. In Nigeria, what goes up doesn't come down.

What we should hope for is that the sky rocketing should at least stop.

Emmanuel900:
Empty barrel make the loudest noise

No single Igbo have make it to this list but they make the most noise in this country.

Those people obviously live rent free in your head.

correctguy101:
People should just focus on experiencing life. It was never meant to be the same for everyone.

The day the collective consciousness regains one single mind, reality as we know it will seize to exist

Words on marble.

Max24:
Many obidients against Tinubu's policies are illiterates. How does this affect the common man ?

Surely it has to be that you are being paid a stipend to write this obnoxious daft nonsense?

As others have pointed out, do you not realize that, just as with the petrol subsidy issue, this will have a ripple effect on the prices of daily goods and services?

Yes, including those used by poor men?

What is wrong with you people? What makes you so desperate to defend your oppressors? Is there foam in your head?

Max24:
How much is electricity in other west African countries compared to Nigeria? All those countries that do 24hrs go and find out the cost? You want comfort but you don't want to pay. Will Tinubu use his teeth to provide power? What's important is availability. Then cut your coat according to your size. If the poor want 24hours power then let them work for it. Nigerians need to be productive. Government's strategy is to use the rich to subsidize the poor which makes sense.

The highwayman will have his knife to your throat ready to slice it open and you will be egging him on, praising him, and justifying his actions.

After all, he reasonably has no choice but to slice your throat. How else will he earn a livelihood ?

Ride on.

grandstar:
What does American minimum wage have to do with pricing? Simply stating power should be cheaper using comparison energy prices in America is sufficient.

All those in the electricity chain must charge a cost reflective rate to cover expenses. They can't underprice because salaries are low. It does not work that way.

I too did my findings and also queried the high price.

However, I am not an expert in the industry so won't speak like one. I, however suspect that issues line creaky infrastructure, insufficient competition and so on have roles to play.

Charging cost reflective pricing is a step in the right direction. The present blackouts are due to the huge debts of $1.2b owed the gencos and N1.3tr owed the Discos by the government.

Government should go further and fully deregulate the price.

You people haven't learnt anything from the petrol subsidy issue and the naira floatation issue. You have no sense, also, of pacing and timing in policy making bearing in mind the travails of the population.

No worries.
Life has a way of eventually teaching everyone.

Enjoy.

Righteousness2:
When you see yourself still here on Earth after the saints are taken away in the imminent Rapture or you Close your eyes in Death without JESUS CHRIST, you will Cry, beg and wail to accept that thing you term " Rubbish" unfortunately it will be too late.

Now is the ACCEPTABLE TIME! The next Moment is not Guaranteed.
Humble yourself, Repent, Belive and SURRENDER to the Lordship of JESUS CHRIST.
There is No repentance in the Grave.

Go and preach this in Israel where it's needed.