₦airaland Forum

eph12:
But fiizznation said this didn't happen. Nobody was beheaded in Kano. In fact the pictures paraded on the internet were from from Egypt Turkey. Too bad of him/it because it could be a robot

ayindejimmy:
Thanks.
My life is an open book.
We come and we'll go

ayindejimmy:
Save yourself the agony

AntiWailer:
At 320 in black market that is 320million from almost 900million.

That is quite fair.

mazimee:
Look at this one, did they tell you that they are looking for amnesty There demands is straight, they want Niger Delta Republic. A simple request that will only be difficult for greedy vampires.

thaoriginator:
If I hear amnesty.. We will rather give them bullet to the brain and chest.. Eneter their towns and villages and fire sporadic gunshots.. Whether IOPB, MASSOB or NDA..

Truth234:
Zimbabwe now use the US dollar, South Africa Rand, Bostwana Pula, Pound, Aussie Dollar, Japanese Yen and the new one is the Chinese Yuan. There is nothing like Zimbabwe dollar again, people just like to talk about it because of the negativity it generated to mock Mugabe.

Truth234:
It was officially abandoned since 2009 and demonetized in 2015. So it is not a legal tender any more, that website needs to update its system.

bookface:
You are missing the point. My explanation is that yes, printing money to make every Nigeria a billionaire will cause hyperinflation....but printing money will not always equal inflation. Two different things.

ayguru:
Bro, how will you explain the exchange rate of one naira equals to 1.8 Zimbabwean dollars?

bookface:
Printing money will not always result in inflation. Although it is the conventional wisdom, it is not always the case.

The conventional wisdom is based on the simple equation MV = PY where M is the supply of money, V is the velocity of money, P is prices and Y is the total quantity of goods.

The conventional wisdom that printing money simply increases inflation assumes that if M is increased, all other things being constant, then P should increase.

But all other things shouldn't have to be constant. For example, if printing money leads to more quantity of goods, prices could actually fall.

Furthermore, the argument is nonsense that more money supply equals higher inflation. Everyday a bank creates a loan, it is basically increasing the money supply out of thin air, which may not necessarily lead to inflation.

Finally, think about this...suppose the central bank prints out 10 billion naira notes today, and they leave it in the vault...would it cause inflation?

The answer is no

Suppose, the CBN choose to give the 10 billion notes to just 10 people, would this cause inflation? The answer is no! hence the role of the velocity of money.

Hisduchess:
lol.no mind d angry part nah typo error.buh don't they have an exchange rate?