₦airaland Forum

GonFreecss1:
Hahahahahahahaha!

People have short term memories when it comes to the financial markets.

The trick with the stock market is to never follow what you read on the news.

I invested 20k in Macy's back in march when it was 4 dollars sold it at 8 dollars effectively doubling my funds.

I'm now using d funds to scalp d market which earns me around 5 to 6 percent daily.

Do d maths.


Sukuk bond , tb even eurobonds are not the best investments right now .

D ten k i put in stanbic eurobond since November last year as returned a paltry 256 dollars.

Investors should look into the us stock market if they want heavy returns.

Someone should mute that argumentative clueless guy.

I'm here for two people. Aihbolagas and Emma.

Theconglomerate:
It will become cheaper for anyone holding dollars that want to buy Nigeria tomatoes.
So how is this bad for a person growing tomato in Nigeria that will make more sales because of more patronage from foreign clients?
What's your point?

I'm done arguing. You are clueless.

Let them devalue it, i will buy your entire tomato farm with peanuts and you won't still have enough to expand your business competitively enough to compete with external markets.

You'll never get , experience will teach you .

Adiós enjoyed your childlike arguments.

Theconglomerate:
How do I interpret nonsense for God's sake.
You should face your asylum quietly,you clearly have no brains.

Ok slowspoke , if fx becomes 700/1 dollar
, will the price of tomatoes not become cheaper in naira relative to dollars?

Can you see how your replies are daft.

Theconglomerate:
How will the price of tomato go down via devaluation?Is it not suppose to go up instead?
If it is imported,when you devalue its price goes up.
If it is produced locally,it price will still go up too but slightly or a negligible increase compared to its imported counterpart.
So you see you even gave a wrong answer and a very stupid example.

Secondly dumbfùck,machinery are one off investments,industries don't buy machineries everyday.
So what stops them from getting extra funds and buying 5he machine knowing that they will make the borrowed money in a jiffy as a result of demand for cheaper alternative.
Bros leave matters,you no get sense.

You clearly can't read.

Hint. Relate it to import and exports.

Interpretation is key.

You have an agbero mentality. Not worth my time .

Theconglomerate:
I know you don't have enough brainpower to answer the things I asked you so I honestly wasn't expecting a reply.
I am shocked to even see a quote from you,even though it was quite empty but you did what your fragile brain could do anyway.
You can't give what you don't have.

Listen up child.

Mr tomato seller, if the price of tomatoes goes down via devaluation, will that incentivise you to produce more?

Think!


Now let's say you decide to produce more being a dullard, at what cost?

To increase production you might need heavy duty machinery which is now more expensive because the currency is devalued.


I don't have to answer your questions because it's fraught with idiocy..

You probably won't understand my answer because you're a buffoon who thinks he's smart.

Theconglomerate:
Taxes?How do you tax a people that aren't employed and don't own taxable businesses?

State sponsored agriculture?
The government has been trying to make the 4 Nigeria refineries work since kingdom come and you want to add another very complicated parastatal to it?
Isn't that creating and breeding another corruption engine?

Education?
Are Nigerians not educated?
The government have subsidised education enough for anyone that wants to learn na.

Policies that are small business friendly?
Everyone knows Nigeria is a small business haven where they completely don't pay taxes and aren't disturbed by social industries such as price control and other rubbish organisations,so what's your point?
Make government dey dash them money I suppose

Credit?
Is government suppose to provide credit for it's citizens?
I thought that was done by banks already
You want banks to be giving credit to unworthy people because they want to grow the economy?
I got stanbic bank ezcash 4m naira credit while seated on my couch eating pringles.
Does credit worthy Nigerians lack credit?
Even in America,their government don't have any hand in giving credit to its citizens.

So this is how you want to take Nigeria out of misery and boost it's economy I suppose.

I want you to educate yourself first before I address your questions.


https://www.forbes.com/sites/briandomitrovic/2018/09/01/do-devaluations-really-help-trade/

Tobex4realTobex234:
What are you proposing dude?

If devaluation won't work, what do you think will work?

Taxes . What's going on in Nigeria is extortion.

State sponsored mechanised agriculture.( They can import industrial machinery when d currency is strong

Also debts become manageable).

Educated populace to drive growth.

Policies that are small business friendly

Credit .. critical.

It's that simple

ositadima1:
Is this post against or in favour of your original argument.

Devaluation will only have unintended consequences especially in developing countries.

Debt burden

What happens when other countries also devalue?

Uncertainty

Assest prices will fall

Recession

You only devalue when you have an export driven economy.

Devaluation is not a catalyst to spur industrialization.

Period

Theconglomerate:
But I don't do paid employment so what salary are you talking about?
How does someone who is on Irish government welfare program for asylum seekers pay anyone's salary for God's sake?
Have they increased welfare money from €322/month?

Ok , you're clearly a child.keep amusing yourself.

Opinion is the lowest form of intelligence.

In relation to your uneducated under researched rant, I'll leave this here for you to ponder, since your brain is empty.

ahiboilandgas:
no need just make your points to counter...then we all learn...

I can't type long epistles on a topic so obvious.

I'm just irritated that someone is so blatantly wrong and arrogant about it.

I hope this devaluation happens will come back to celebrate a new Nigeria flourishing with industries.

Theconglomerate:
I'm sure you know you can still be in a foreign country and poor
How do you buy Nigeria at my expense when you've probably not fed yourself properly in your host country?
The people worth their salt overseas are happy for devaluation whereas you are here ranting,telling us how empty your account might be,buffoon.

Keep ranting to someone who can pay your salary.

Theconglomerate:

Why are you triggered?
I'm sure you are ranting because devaluation might make you starve to death.

Devaluation means i can buy more of Nigeria at your expense.

I get richer for doing absolutely feck all.

Continue with the ignorance.

Theconglomerate:
No one said hardship motivates people.Maybe you are so daft that you can't get the point.
We already have motivated people that are already showing signs of their productivity despite unfavourable market climates.
We just need the unmotivated ones to buy what the motivated ones will produce when the time comes.
The unmotivated ones will be employed by the motivated ones to balance society as well.
And no,we don't need Nigeria to start manufacturing planes,we just need to produce what we consume first.
We can always use that revenue and buy planes rather than produce them

Piss off , u r a clueless unexposed slowpoke.

Been reading your gibberish nonesense.

naijaoyibo:
People argued about this same thing in 2014 and 2016. The Naira was devalued from 150 Naira/$ to 360 Naira/$. It stayed like that till recently. What has changed from 2017 till now? The Naira has been consistently devalued since its introduction in 1973. What has changed in Nigeria from 1973 till now? If we are to be honest, things are worse now. Devaluation of the Naira will probably not help. If we devalue to 500 Naira now, people will get used to it. And after 4 years you would call for another devaluation to 1,000; and the vicious cycle continues. It's too simple a solution. There has to be a fundamental and national orientational change in Nigeria and Nigerians first. Until that happens, devaluation will not solve our problems.

Yeah the clueless argumentative guy thinks companies just spring out of no where.

If hardship changes things and motivates people to be productive, Nigeria should be manufacturing planes by now.

ojesymsym:
That condition is for an export driven economy like China. We are still a consumer nation and will not achieve industrialization in one night.

Where the West is encouraging us to devalue our Naira, they keep accusing China of doing the same, you know why, because China will benefit more as an exporting nation. Our balance of trade still remains in the negative so taking that step head-on will be disastrous to a country that is already poor and not particularly known to be productive.

Very smart guy.

When you're headstrong about devaluation but have no robust plans put in place for infrastructure and exports, you can tell the person is using economics textbook theory.

Tobex4realTobex234:
Where una they always get una numbers from. Forget black market. Even Cowrywise and Chaka they sell USD for 430.

Anybody wey need USD for personal use make he buy from Binance.
Anybody wey need USD for legit purposes make he buy from CBN/banks.
Anybody wey wan speculate, this no be good time to buy, as things are quite volatile.

How can one buy dollars from binance?

Thanks

Theconglomerate:
They are economically idle.
You can't be doing subsistent farming and earning peanut year to year and dragging the nation behind and you tell me you are busy.Busy how?
If they were really busy,it will start to reflect in their lifestyle.
Not some almajiri goes to work in an Alhaji's farm for a plate of food without meat and you want me to applaud them for being busy whereas they are just barely surviving?
That is economic madness.
That is where Nigeria poverty and poor data is coming from.
That is the reason most of them live in huts and are going blind due to poverty and inaccess to clean water till date and polio,cholera,less fever and terrorism is still ravaging them.
Nigeria needs Capitalism,not farming for a plate of food.

What else can Nigeria capitalise on if not farming?

Devaluation will only plunder Nigeria into more poverty.

Take a look at the current happenings within the us stock market and the the economic realities, you will notice a disconnect.

The system is rigged. Forget about what you read in economic books.

Predstan:
Ridiculously low or high? In the USA, 800 times 4 is 3200. This payment is also to cleaners who lost their jobs, and other menial workers. Tell me what Nigeria gives you for being unemployed.
There is also child benefit of about 500dollars weekly

Don't compare Nigeria to the us , its pointless.

I'm just shocked that you can get up to 800 per week, ill have to look it up.

It's different in Europe.

Predstan:
401k is a savings that you get back when you retire
Social security pays you when you retire
Unemployment benefit is $800 weekly.

Again tell me what you need saving for in your savings account

Really 800 a week? I've never heard of that before.

I know about means tested welfare payments. The money is ridiculous.

Predstan:
What do you need savings for?? To be exploited by greedy beggars

Are you guaranteed job security for life? We all remember what happened in 2008.

Here's how it works, you lose your job , you miss your mortgage payments and become homeless.

Ebi like say u be jjc

Predstan:
If you are doing the same job as that person in Nigeria, you cant earn up to 300 dollars

True . Its just the exchange rate. We are being ripped off by the globalists

johhnnie:
I almost cried reading this. I made a fatal mistake of giving my contacts out in the first two years.

Please believe this, after about 3 years, I had a cause to send my bank statement to my account officer and she said I could get my statement my the bank app on my phone. I never realized this was possible.

So, out of curiosity, I decided to download my statement for the three years prior. What I found out brought tears to my eyes. I was weak. In three years at that time I discovered I had transferred at 27m ( twenty seven millions) in naira to my account in Naija over that period. And at least 96% of that money given out to friends and families.

No new investment whatsoever.

I also remembered that during thesame period, at the earlier stage, I needed money. So, a cousin helped me to sell my uncompleted (80% completed) student mini- hostel on a 4 plots of land unluckily at that time when $ was 500. Only a fraction of that money got to me here. A lot of hands dipped into the money that he became useless by the time it for here.

I work alot here. Sometimes, 3 straight days observing just an hour long rest from driving ( by the highway or anywhere the need need Forrest met me on the road). There was a time I slept in the car for a month. Before then, I dish washed for two days, did security for another month; having to stand up for 8 hours straight on etc.

Sometimes, going on for days without eating or bathing. All I would do was to enter a McDonald etc early morning to use my inner shirt to wipe my body. Smelling like rat. So haggardly looking and insane. Brushing by the side of the road.

It was really bad. Phone calls from my Naija kept coming with all sorts of demands; friends, families both know and unknown. Worst part, nobody contributed a dime for my travel. I had to sell my plot of land behind my personal house in ibadan to add up money.

It became crazy when I see people I send money to celebrating birthdays online with friends and family. Some take to club floors for celebrations. I also discovered that people I was sending money to in support of their businesses were building their houses without my knowledge. Here I am living in one room apartment. Sharing toilet, bathroom and tiny kitchen compared to what I had in my private residence in Naija.

I didn't know that all those 5k 100k 3k, 200k etc and even airtime top-ups from my boss revolution to Naija phone numbers were grossly adding up.

It's a lesson I learnt the hard way. You would think that the request would soon stop. It never will. There would always be requests. Some genuine and some made-up.

You finally woke up. That was my own reality as well. I see Nigerians complaining about poverty everyday and they all want to come abroad and expect you to send them money.

But when you study this people complaining of poverty, they seem to be living large.

Party, drinks, pepper soup, lots of free time.

He tire me sha

SweetCunt97:
He's an extravagant fellow biko. Patapata 500 dollars will go for monthly bills, 300 to send down to peeps here... Unless he has an ongoing project o.

No , its just the way it is. Maybe he lives in an expensive city.

It depends, i have a friend who makes 5k in London and saves only 900.

Hire purchase and rent alone don finish am.

SweetCunt97:
4k dollars abi naira

Dollars

omonnakoda:
You can save 20k of that in a 401 K pension and pay ZERO tax on that.

Yeah when you're using walking stick and half blind.

Anyway everyone has their own perspective.

I felt sorry for the guy earning 4k and saving only 800.

Abroad no easy hence why u can't be spending anyhow

omonnakoda:
You have bad mouth

Is there a duty to get rich?
Must everyone be rich?
If you are not rich you are not human?

Why is he working so? I tire ..

.

cococandy:
Not only exaggerated. Shows the poster was not posting from a position of correct information

..

100k tax calculation us and Europe.

Check it out, you'll see its not much , now tell me how many people earn 100k?

Minus the figures by rent and bills and tell me how you can become rich even with this high salary and still afford sending money to random grifters

chigo4u:
No need to stretch this topic but this is just one sided talk. What is the minimum wage in Nigeria vs elsewhere?

Same argument.

We can't compare Nigeria's minimum wage to developed countries.

Like aihbolagas has been telling you. The western system was designed and rigged to favour them .

I send 50k eur home they devalue it into 35k EUR.

So the minimum wage is a reflection of a rigged global system.

If one eur turns to one naira will people be zealous to travel out?

Sholapey:
You don't have time to argue with your fellow man but you had time to argue with woman. Hmmm it is well.

Jesus all because I said Ireland doesn't present as many opportunities as most would like to believe.

Damn this thread has gone funny .


Now let's get back to work.

Bonds stocks real estate tb.


Stay blessed.

GonFreecss1:
You started the insults sir! You were also acting like a bigot. You claim women are emotional, your display here was emotional. Show us the data, not insults or sexists comments.

Quote where i said women are emotional?