₦airaland Forum

Havertz10:
common ibime, everybody knows that Russia removed dollar from its sovereign wealth fund and had been offloading all its foreign reserves in dollars for years, it has been buying gold, it’s one of the reasons people say that Putin thought about these sanctions prior to the invasion

besides western nation seized more than 300billion in external held reserves from Russia after the invasion, amusingly American did the same thing to Afghanistan took their money and said that they will use it to pay 911 families but that is neither here nor there, gist basically is i’m sure that the screenshot you keep posting is old and assertions that Russians are suffering is misleading

That statement was from their central Bank Governor few days ago

Oga you are too invested in a post-dollar world. You are delving into the world of fantasy, not reality. Russia still held 50% of its reserves in Euros and Dollars and only because they were planning to go to war. They are not stupid.

Every illusory attempt at replacing dollar is appealing to you. Nigga couldn't even tell me one face on a Ruble, but I bet you know Benjamins and Washingtons though.

You want replace dollar when the only people holding Ruble are in Russia. When the only exchange you can trade it on is the really the MOEX exchange? When all Russian companies are forced to convert their money into Ruble and hardly any are allowed to sell Ruble, not even to trade with foreign partners.

And you talk about Ponzi in Crypto. Isn't Ponzi where the same people are just exchanging money between each other?

Ruble is fast becoming an inconvertible currency that you have to trek to MOEX exchange to trade. Have you heard of Cuban Convertible Peso? Perfect peg to the dollar.

Keep hyping command-and-control economics that never end well, every dog knows the moment these are lifted without resolution of sanctions, Russia will tailspin. Keep your funny tales to yourself. Your central bank Governor is begging for her reserves back so she can burn them and stop these Fidel Castro capital controls.

Zonefree:
Turn the treasury to white, then. That's why Anambarians elected you, and stop talking too much!

You think accumulation of wealth is not a continuum?

So if your father left you with debts, are you expected to marry, buy a house etc before settling those debts?

Nigerians need to do away with this mentality that the past is unaccountable. That's what gives our politicians carte-blanche to steal because they know there will be no public will to account for mismanagement after their tenure is over.

Havertz10:
they aren’t because when European countries bring their currency, it gets converted to rubles then its paid to Russian government, guess who gets to keep the foreign currency after that conversion?

Ok, I should listen to you instead of their Central Bank Governor?

Havertz10:
you keep diluting the conversation with plenty unnecessary analogies, it’s very simple, currency manipulation can be done by 2 means, either the country pegs it’s currency exchange at a particular figure and uses its reserves to satisfy demand at that figure or they use demand pressure to appreciate it, china does the latter a lot that’s why they are called currency manipulators, America does the former, Russia simply took an economic principle and weaponized it to their benefit,

Now you are confusing yourself with English about economic principles you just learned. Make the above plain. Are they burning through their reserves or not?

I will remind you of your initial stance below.

Please be clear, are you saying they are not burning reserves, yes or no.

Havertz10:
how are they using up their reserves when its the foreign countries that are bringing their own currency to be converted to rubles, russia gets billions from euro as payment for gas, what russia did that was different here has been explained in a previous post of mine

GloriousGbola:
Dayo will not replace them

His favourite song is I will go down with this ship by Sade

At least at some point, a black man must draw the line

Raumdeuter, your best pals in Hungary planning White Nationalist revival?

https://www.theguardian.com/us-news/2022/may/20/viktor-orban-cpac-republicans-hungary

raumdeuter:
Musk committed the crime in 2016, 6yrs ago but somehow this wasn't reported or newsworthy until he switched sides 4 weeks ago

He probably got an attempted blackmail attempt by the lady and trying to escape with political angle. It's normal for people who have settled to raise dust for more money like Ronaldo accuser.

Musk is known for being very manipulative eg cashing out of Tesla at an unsustainable all time high of $1.2k and manufacturing a tax argument with Warren in order to sell his shares without tanking the stock. Same stock is at $600 today. Not to mention his continuous flouting of SEC rules since 2018, and probably another on the horizon which he will try to blame on politics no doubt.

Havertz10:
you keep repeating the same talking points, they aren’t propping up their currency if the demand pressure is external, I don’t understand you, I have explained how it works in principle, if their measures were counterproductive, why did most European nations reject it at first before succumbing after pressure from Russia

You keep listening to politcians, I'll keep listening to their central bank governor. Not being propped up you say, but living on reserves according to their Central Bank Governor. They even gave you the exact figure they spent in March, $39bln, you still dey argue against numbers. The ruble you talk about has a black market price for most Russians. They literally are not allowed to exchange it, and have to go to their versions of abokifx for a different price. Russia has stopped publishing key economic metrics for the past two months which is a major red flag for a developed economy, but those who track imports say it has fallen by 70% with no inputs into production coming in. Another reason why they don't need foreign currency, but the same reason why their production is grinding down. This is the problem with a command economy. Only the Government is making money from selling oil, but everything else is completely flattened. Their central bank is predicting over 23% inflation and a double digit GDP decline, but keep pointing at ruble like Sani Abacha kept pointing at Naira staying officially at N22 to the dollar throughout his tenure while Nigerians started cooking with firewood for the first time. It's like someone in Lekki who lost his job, and busy spending his savings to stay in Lekki. You will say nothing do am until the day his savings run out and he gast move to Ikorodu.

Havertz10:


If there is anything that is glaringly obvious about black people that i have noticed particularly here, is that when they feel cornered and cant offer rebuttals they result to insults, i’m now a layman lol because you don't have anything to present

inflation in US was 7% pre invasion and rose to above 8% recently, also so many customers goods aren't factored into that calculation, essentially making it pointless, ask most americans what they think about that bullshit stat, inflation is hovering around 15~21% in US

what has bond rates got to do with anything, compared to most major economies, russia has the least amount of foreign debts, obviously because of sanctions, their bond rates will rise, its basic supply and demand, also you wrongly stated that they are propping up their currency with forex, funny how you talk about them running out of forex when I made it clear that they are insisting that foreign payments for their gas is done in rubles, how are they using up their reserves when its the foreign countries that are bringing their own currency to be converted to rubles, russia gets billions from euro as payment for gas, what russia did that was different here has been explained in a previous post of mine


but the ultimate goal is for the currency to appreciate enough to nullify sanctions, by making its convertibility more expensive for European nations sanctioning russia, you see as the rubles appreciates, it will cost more euros to buy gas from russia thus making sanctions beneficial to Russia

i dont even want to get started on American companies, we were here when you guys where boasting that some American companies have valuations that are greater than most nations gdp, when i called it hyperinflation, i was laughed at, now you are regurgitating my statements as rebuttal to me

You done come now. How is layman an insult unless you have economics in your degree title which I do. It simply means someone without specialised knowledge in a specific subject. Discussing economics with political colouration with laymen is always a futile exercise as arguments are oversimplified into their political view. That's why you have managed to conflate the effects of FED balance sheet quantitative tightening and and Fed interest rate rises on stockmarkets with Russia war all in one post, while joining issues more related to the economic response to Covid to hail Russia.

A central bank said they face the biggest crisis since the 1990s fall of USSR just few days ago, and you think they are sipping Pina colada. On every financial metric, they are in way worse shape than the West from Interest rates to inflation to Treasury yields but the West is the one suffering more I guess. The only metric they have managed to do well is spend billions buying their own ruble which nobody wants except forced to, and you say it's all rosy.

Yes, they did burn through $38.8bln in Forex in one month to prop up Ruble, but keep believing what you want.

Like I said, come back in few years when your Hugo Chavez command economy capital controls have played themselves out.

Havertz10:
Russian currency appreciated against the dollar because they insisted that countries buying their gas should pay in rubles that demand for rubles caused its appreciation against the dollar and euro, its currently the best performing currency in the world today

They have very little external debts, along with sanctions that limits capital outflows further appreciating their currency

There is unprecedented inflation in most western countries, in some cases there are even protesters on the streets, the west can afford to pay , people that are at the precipice of hyperinflation can pay for what with colored paper you have been fed too much propaganda, they are a consumer based society and literally depend on foreign manufacturing for most goods, this is a sector that china and east Asia dominates and those guys are not only ignoring western sanctions against Russia but continue to participate in trade with Russia, in fact to protect themselves from secondary sanctions they are trading in their currencies further side stepping American currency and causing inflation to rise in the west and largely America

American companies have lost 7trillion dollars in valuation over the last 2 months

Nearly every intellectual is talking about recession in America, some are even talking about stagflation, worst part is the dynamics at play are so vast that even the central bank is clueless

And the worst part of it all is that while msm will continue to feed people disinformation that Russia is losing the war, the people in power know the truth, Russian military budget is $68billion, American government is preparing military aid worth $40billion as we speak its a republican that is even delaying its fulfillment, do those actions represent a winning side

lol. I wouldn't even know where to start with this. To deconstruct this will take all day but I'll make a small attempt.

Let's start with what keeps the Ruble up. In the absence of real demand, currencies are supported by foreign exchange reserves and Russia Foreign Exchange spent $38.8bln just in the first month of the war to support the ruble. Like I said, we will see how far for Ruble when they run out of foreign exchange. I believe they had $300bln (unseized) at the start of the war. Na so Hugo Chavez start him gragra till his foreign exchange ran out and the Bolivar plummeted. Any big country can implement strict capital controls until they run out of Forex. This includes spending Forex, banning trading of foreign currencies internally, forcing Russian companies to change 80% of their earnings to Ruble, bribing people to save in Ruble at 17% interest rates etc. In the history of markets, no country has implemented these controls and still not suffer down the line. But as far as you are concerned, as long as you see that Ruble artificially propped up, you are satisfied. Nigerians economic understanding never went beyond value of Naira that's why Buhari could deceive Nigerians with $1 to N1 talks.

Russia 1 year and 10 year bond is trading over 10%, US is trading at 2%. Nigeria 1 year is trading at 5% and 10 year bond at 11%. That's the amount of confidence markets have in Russias economic prospects and the cost they put on lending them money - on a par with Nigeria.

Secondly, you are conflating issues with stockmarket. US stockmarkets have been hyperinflated since Covid when the central bank dropped interest rates to zero and started buying up balance sheets. That is a different economic lesson of its own and was always going to fall with interest rate hikes which it has been doing since November last year when the Fed signalled interest rate rises. Again, I won't start to explain how zero interest rates hypercharge stockmarket and return to normal interest rates cool them down again. US indices have only given back half of the gains they got from the low credit environment instituted by the Fed in 2020. S&P500 went from 3,200 before the pandemic to peak at 4,800. It is now at 3,900 (pic below). So in essence those markets have just been unwinding their bubble from the high of all the free money the Fed was injecting into the markets. Same reason I stated last year that I would be switching my pension to a fixed pension to get out of exposure to stock market. Those of us who follow markets have already made provision for what we expect to happen after interest rates start to increase, while laymen like you will be shouting "Up Russia".

As for inflation, like I said, US was already running at 8% before the invasion. This was due to the effect of the greatest fiscal expansion in history due to Covid and was expected to continue. Russia is just another straw ontop of already mounting inflation.

You are just a layman interpreting a confluence of events and ascribing it to Russia. In normal times, this war can't even shake the West beyond a minor inconvenience, but added to the after-effects of Covid, Russia is a useful tool to blame and for Putin bootlickers to hail. Oil price is the same now as it was in 2014 and Gas is nowhere near it was from 2005 to 2009.

Westerners are not stupid. They calculated that they may take a 2% contraction while Russia takes a 20% contraction if they go all out and ban Russia altogether. But you keep hailing oga Putin, the slayer of the West while he and his ministers are worried sick about the real implication for Russia.

You believe what you want to, and we'll come back in a couple of years to compare how this stupidity went for Russia. They actually banked on getting Ukraine to surrender in a few days by which point any economic sanctions will be a fait accompli as the deed would already be done. They never banked on getting trapped there and having sanctions enacted over a long period. Follow all their finance ministers statements and you will see their real concern.

larride:
Reality says otherwise. Record inflations everywhere. Even the UK that you are in is recording inflation. The UN is calling a food crisis situation, Us Secretary of State is saying Russia is using grain as a weapon of war. Hungary, Germany and the likes are buying Russian Gas in rubles.

Thanos said - Reality is often disappointing.

You can keep saying it’s the poor nations that are complaining while ignoring the reality that the world is in currently.

Goodluck with dealing with Putin when they won’t even have food to eat.

lol. You too dey read newspaper. You no know say if inflation even hit 3% for West every newspaper go dey write up and down. During Covid wey GDP crash 20% and we had actual food shortages, nobody starve, you think paying 5 pence more in West will make anyone starve?

Inflation was already 7.9% in US in February before Russia invasion. US inflation currently at 8.5%

You forget the world was dealing with the biggest Govt fiscal expansion due to Covid and inflation was expected to continue. So Russia-Ukraine adding a small amount to what was already in motion. Forget the hyperbole.

When Yankee talking about food shortage, they are talking as global policeman for the poorer countries. They will always get first pickings of what's available.

Havertz10:
can’t believe that you posted this, I had to check your profile twice to be sure that it wasn’t someone else, your assertions are disconnected from reality it’s baffling, nothing you stated is even remotely connected to actual events

Wahala Dey ooo

Wetin be the actual events oga?

larride:
@ibime

Is the sanctions working on Russia?

UN is already complaining of food crisis and want Russia to export its wheat and grains.

Seems like US, EU and their allies sanctioned themselves indirectly.

Also rubles is at a record high.

When did you get degree in economics Sir larride?

Tell me what's happening in Russia in comparison

Laymen only think in weeks and months, economists think in longer time frames. If you don't know, Russia are spending close to $40bln per month in Forex to support their ruble, interest rates are at 17%, their inflation is at 18%, their stockmarket is not trading except for a few companies and they have wrecked any chance of foreign investment going forward. Like I said the West can afford to pay for energy longer than an enemy can stay solvent.

Go and tell bros Putin to stop being belligerent for Africa sake. The West will be OK, it's the poor nations of the world that will suffer. They are not stüpid, and won't let a tyrant do whatever he wants because of the complaints of few hungry men. The Eastern European countries who border Russia are poorer and are even more adamant on dealing with Putin. You worry about how APC Government will cater for Nigerians or go and beg Putin to withdraw. I'm sure some hungry men still begged UK prime minister to allow Hitler to do whatever he wants in Poland so they don't have to pay a couple pence more for bread.

Ellexy:
This thread is a gift that keeps on giving

Havertz10 na werey

User09:
I have no idea what this means.

Everyone and his dog (now) knows how incompetent Lampard as a coach is; a point I spent the whole of last season rehashing.

Couldnt care less what he does at this point now seeing as he's back to his real level. I only got pissed by the manner we lost to them and how underserved it was

ITK noisemaker. Below is what you constantly criticised Lampard for.

Not playing Havertz as no10 - TT yet to do with the uncreative generational talent

Not playing Werner as no 9 - TT yet to do.

TT rubbished all the points you criticised Lampard for.

Lampard was top of the table start of December and simply went on a bad run in December and January with a new team that was purchased with great money yet actually dysfunctional from the midfield up. Like I said, you can't drive a Ferrari like a beetle and that's why Lampard didn't go pragmatic when things went shaky in December, even though we all knew the team needed to be put in a defensive shape given our lack of midfield functionality. A manager driving a team with over £160m attacking investment does not have that mandate. TT did as a rescue manager, yet till today, we are yet to come out of that defensive shape that TT enacted to steady the ship. And all your criticism of not playing Havertz as 10, and Werner as striker and CHO as winger still stands. You didn't say anything and TT didn't implement any of your stupid suggestions.

Just say you hate Lampard for not sücking Havertz balls and leave it there.

Be like this Finesse done plan donstan since

BlueMann:
Omo I wanted Leeds gone because it would mean Raphinha becoming available for cheap

But he seems destined to go to Barca so I'm not that stoked about them getting relegated.

I do hate Burnley more. But they'll probably stay up.

It's better for Burnley to go down. One more boring team out of FPL. Leeds game dey always sweet

User09:
Dug them out of a hole he basically got them into

When he was appointed, they were 2 points clear with 2 games in hand. 16th position

Now they're 4 points clear with no games in hand. Still 16th position. Dont know what the fuss is about

Mumu man, you were shouting all over the thread just last week.

He did not dig them in any hole. Burnley just had a crazy run.

Lampard has 20 points in 17 games, enough for a 45 point finish, same with Palace and Villa

Benitez had 19 points in 20 games and had only collected 5 points in his last 15 games. They were going down without doubt.

In the words of Oshiomole, if it pain you,, go and die!

CAPdan21:
Leprous 5 in the potor potor.....Lol

You mean the poteaux poteaux

Conte finishing in UCL and Lamps surviving relegation. Leprous fingers should sip a glass of whisky and let that sink in.

seankafor:
Fa bosse, ibime, Singapore1,

How are eyou guys warming up for terra 2.0 launch?

I get it'd be airdropped to Luna and ust holders pre crash..

Any calls of presale

I bet all hands will be itching for a quick swing trade profit

Na here we dey, we go see as em dey go

You been hold Luna before crash?

Griffon:
Omo eh. What’s really in the offing for these niggas?

I can understand running this game to build stronger connect with some OGs who are in places of power and affluence, can understand running this game to be untouchable, but then, what’s in it for them London boys?

CB raps, so I’m thinking it’s entirely down to owning the streets.

Same thing as Chicago niggas. They just do it for the thrill and keep scoreboards of how many opponents they shot or stabbed. Not many of them are making paper. Drill is a demonic something

Griffon:
What’s up with all these 7th, 6th, 12th, 16th gangs etc?

Is that the drill over there in London?

Read few things about CB. He’s actually the half brother to YCB. Nigga is even incarcerated, who would believe that?

7th and 6th should be one of the, if not the most active beef on streets

Na so dem dey do oh. Almost all 7th GMs are lost Naija boys. 6th leader is Ghanaian

I didn't even know they are related to CB. Man needs to move alert cos both gangs are known for targeting family members. 7th burnt one 6th member house with his younger brother inside. I think the boy was 6 years old or something

andrewbaba44:
Oga Ibime ,please post some source about Calvin bassey brother

Google didn’t give me any info about him ,I found out his brother name is Matthew bassey and I am yet to read any crime related to him

If you have any link please kindly assist me

Thank you

Google YCB 7th gang, that's his brother.

They beef with 6th gang in Newham and many murders, kidnappings etc have been involved

Below is when he was shot and stabbed in the head


https://www.youtube.com/watch?v=B5ky5amrNXM

YCB just means Younger CB, so he's a Younger to CB, one of the deadliest gangsters in London drill currently serving life for shooting at Police and linked with a few murders. Younger in gang culture just means you are emulating the OG that brought you into the gang

Calvin Bassey is too big for leftback

At most he's a middling CB

His brother is also a deadly gang member involved in a murderous feud with another gang that has claimed many lives. Who want sign am should step up their security

They voted to go to war when 368 House members voted for the weapons package as against 57 far-right Up Roosha clowns like himself

Danish Furo Iyenemi

BlueRayDick:
Rangers have very dull attackers

That Zambian guy did not even look like a professional player

But Ryan Kent is a top top player. He'll do very well in EPL

BlueRayDick:
Ramsey the bastaaard, eyan Jon snow

Never trust Arsenal product

Man has had a poor time at Rangers, should never have been picked for the pens

Ariiiiiiboooooo!!!!

basilico:
Are u not the FIN expert?
Why is there inflation. Because Putin invaded Ukraine?

Stop jumping upandan and switching topic. Answer your question below

basilico:
What was the reason for the jump in spending smart ass?

Samakus:
Regulated WL available for Collabo. Reason is low liquidity

Chat me on WhatsApp if interested (number on my siggy)

Cc: Openheaven2019, Wizkidnews, Ibime

Why would Elon Musk but a low liquidity coin. Oga please

Ibeme:
Also large drops are always followed by periods of consolidation which gives enough time (days or months) for investors to jump back in. It's much better waiting for consolidation period than trying to judge whether knives have finished falling. Also during BTC consolidation period, Alts bleed. BTC can dance around the same price for 3 months while Alts lose 40%. Check May to July chart last year. A swing pattern for a consolidation period for BTC will soon emerge when everything settles down allowing boys to start swinging levels

Still on this. Consolidation lasts a long time. Range is now $28k to $32k and chances are it breaks down with any bad economic news