₦airaland Forum

mtisTheQubit:
Man you should read the crap Americans write about the chinese. .you feel the raw fear in the wordings

America is scared like never before and they will use all the tools in the book to try and suppress China

They know what it means not to be the leading economy in the world.

Their infinite living will come to an end

not for long

vaxx1:
the biggest export in the world still remain dollar note and that belongs to America

vaxx1:
lol... the dollar isn't the only wealth of the Americans, her biggest source of wealth still remain her people. the alphabet company for example is growing in revenue , the Apple incorporation, the financial service remain very robust . and don't forget, America is one of the few countries that has much gold in reserve

their financial service is nothing without client states

The same client states that are dependent on the Chinese market

vaxx1:
lol... the dollar isn't the only wealth of the Americans, her biggest source of wealth still remain her people. the alphabet company for example is growing in revenue , the Apple incorporation, the financial service remain very robust . and don't forget, America is one of the few countries that has much gold in reserve

all of them are still dependent on the Chinese market

Google android will be nothing without contributions from Huawei and co

vaxx1:
America going bankrupt is not happening anytime soon. that country has a robust financial system to support any damage for long . not even in a decade will that happen . America is ready to deal with any country that frustrate her growth. good case is Iran.

The dollar reserve only have a decade left, at most 15 years.

Global alignment has shifted

vaxx1:
America going bankrupt is not happening anytime soon. that country has a robust financial system to support any damage for long . not even in a decade will that happen . America is ready to deal with any country that frustrate her growth. good case is Iran.

was the dollar reserve fade into oblivion

As all the dollars in the world returns back to the US

US standard of living would drop substantially. As less countries hold the US dollar, more dollars drive up prices, causing inflation. Their domestic dollars will buy far less. It hasn’t happened yet, because although US finances are precarious, every other country is even worse. The reserve currency is the currency most reliable. It’s similar to quantitative easing by the fed. It would have caused major inflation except for reserve requirements and banks holding the excess dollars as reserves. loosen the reserve rates and a flow of new money rises up prices. same with a world reserve that countries begin dumping on the market, or like Saudi arabia dumping oil on the oil market causing prices to decline. dump dollars and the dollar’s value declines.

vaxx1:
we all know the mess up with above countries they re practically bankrupt even China can help . Saudi will probably prefer gold instead of yuan that has redeemable guaranty.

the China financial system isn't capable of doing that yet. even the trade agreement they enter wirh UK and Nigeria to trade in their currency hasn't materialized.

only because those two countries have their own shortcomings

vaxx1:
customer pricing system in Chinese currency require a financial system which China doesn't have. it is not as simple as anybody may think, Saudi Arabia will still prefer to have its cash receipts in dollars instead of China yuan. China will need need developed a robust financial system stronger than the USA to support it. but let any country that called for other currency apart from USA currency prepared for America millitary guys .

They adopted one
the moment the created the Shanghai energy exchange
after that, they created the gold back yuan.

Saudi will be blessed to it cash receipts in yuan that can be redeemer-able for gold on the Shanghai exchange.

How do you think Iran is still selling oil
even Venezuela?

They've bypassed the US dollar

mtisTheQubit:
Chinese plans are usually long term..can take years or even decades...an ths the reason Americans don't understand them..

exactly

vaxx1:
I guess China is strong enough to stop using the Us dollar in international trade? . till then , I see them not getting closer. the largest export of America is its currency and that has entrapped the whole world. USA prints dollar bills to buy goods that other countries produce. It can do that because nobody dares to stop using US dollars in international trade between independent countries. For example, Iraq was destroyed after it tried to sell oil in Euro instead of US dollars. Though this might not continue forever. but I guess it is not going to stop soon.

Any country that produce more than it consume will naturally prosper, meaning USA debt remains not an issue now . the debt burden can be shift further to the next generation if the current generation failed to honour it.



war itself is a good buisness and America is purely benefiting from it.

Yes China can stop trading in dollars and crash the entire global economy and cause more pain for everyone but they are wise and have choosen a gradual elimination of the dollar.

China created the Shanghai international energy exchange to shortchange the dollar.
China is Saudi Arabia biggest customer and can require to buy SA oil in any currency that it want and SA will have no option.

mtisTheQubit:
What am saying is that China is becoming a big market for American goods...look at iPhone. .look at tesla...chinese are becoming wealthy..

By the way my brain is ok

China is already the world largest market

vaxx1:
Your brain is paining you. Do you know US consumer market is larger than China’s despite having significantly fewer people. . therefore America big market remain America itself before any other nation

China became the world largest consumer market last year.

vaxx1:
yes but not in luxury goods . America still produce the leading luxury goods of the world. debt isn't necessarily bad for anyone particularly if the debt are used for what will financed itself in the future . remember all debt owned by Americans are in dollars not yuan or pounds sterling . meaning , America can decide to print more money and pay it out by fixing the taxes on his wealthy population thereby maintaining a stable inflation

America economy going into halt is something that is far from happening. probably not in our time .

yes especially in luxury goods


To China, US is just a food producer.

The debts of the US is not being used to build it production capacity but to finance wars and bubbles.
That is why they cant pay their debts of 23 tr.

Printing more money will be the death of their economy
Just incase you dont know what printing more money will do to the US economy, you can find them anywhere you look to what happens when more money case few goods.

From there, everything is a domino effect

50% of the price of oil derivatives on the market is covered by subsidy

With the price of oil falling from high above to just 20 dollars approaching 10 dollars
Nigeria consumption cost per barrel of oil has significantly dropped hence relieving 50% more money for them.

they dont even need to turn to their reserves.



If you want to know how much money they are saving from the subsidy program, just do a simple calculation.

rvp20182:
show us how much Nigeria has saved? I found 1.5B dollars from selling all that oil. That will be whipped out in single forex trading window. Their forex reserves is how many months of imports?

Forex reserve before this crisis peak was already dropping
Nigeria’s external reserves recorded a decline o f $2.3bn from $38.59bn to $36.22bn within a two-month period, covering January 1 and March 5 this year.

Naira devaluation coming
https://www.bloomberg.com/news/articles/2020-03-09/oil-dive-may-force-nigeria-to-devalue-naira-as-reserves-dwindle

rvp20182:
Since when.. before Zimbwabwe..Ghana and Zambia...were the hyperinflation champions.CEDIS is dropping every year like crazy...from 1:1 to dollar a few years ago..now it's 20bob to a dollar.

Since forever

when we pegged our Cedi to the dollar

we were import dependent and running a trade deficit so it was good for us

Today we have a trade surplus and produce mot of what we consume letting our Cedi fall is more logical.

The Cedi will continue to have more value than the ksh for as long as possible.

rvp20182:
Nigeria cannot save money when they are borrowing. Are you born daft or just daft. Forex reserves are not Soverign Wealth like Saudis, Norwegians and Chinese have.

With the depreciation of Naira - Nigeria external debt becomes a HUGE mountain. Only US are smiling here because they can print the dollars

Nigeria has already saved money to last them 4 years

Kenya does not have a cent.

Nigeria debt is smaller to their economic size and if they want, they can mop up tax revenue

Kenya does not have that opportunity as kenyatta have already taxed you guys to oblivion to pay his debt.

Even the US is not smiling as their banks goes into distress because of the oil market

The Cedi is still one of the most valuable currencies on the continent

No one trust your currency

rvp20182:
Currency stability is everything. If Naira start behaving like Zim dollar..your reserves will be wiped out in a day. The trick is market sentiment and to have central bank acting like it knows what it's doing. Any run on Naira...you're like Africa poster child for bad currency...CEDIS and KWACHA.

This is now the game for central bankers...those that panic...will see their forex wiped out in a newyork minute....and the decline to barter trade so fast. Naira will be as worthless as Zim rand or dollar or kwacha.

good for them, they saved their cash in

rvp20182:
which money when oil is dead...

The Chinese have overtake the US in the production of most high tech goods

Debt is bad for everyone even for those who print the money.

THESE new debts only bring the US economic collapse closer than it were.

vaxx1:
Debt isn't a burden for the Americans now at least not even for those who are alive now. if in anyway , America will be paying back, it will be in many years to come and at that time, the country will be doing well to fund his debt based on what the debt borrowed today will have produced for them. the country has a prudent management way better than China.

America goods are becoming luxury , it does not have the same focus with China, there will always be ready market for America goods as long as America remain in production line .

the 500 billion will only last them 4 years at most

an even that, they have to cut down on a lot of their expenses, doing that alone will cause the Saudi people to revolt.

the Russian reserve can last them 10 good years.
Saudi Arabia produce oil at the same cost as Russia.

The problem for Saudi is, They pegged their currency to the dollar so they cant cause their production cost to fall like Russia.

According to calculations by Reuters, the lifting cost per barrel of oil equivalent of Russia’s largest oil producer, state-controlled Rosneft, is now lower than the costs of Saudi Arabia’s oil giant Aramco. And this is due to the falling ruble against the dollar. On the other hand, Saudi Arabia’s currency, the riyal, is pegged to the dollar at a fixed exchange rate, so the dollar costs for Saudi Aramco are the same before and after the oil price collapse and the collapse of the OPEC+ coalition.

Last year, the average lifting cost in dollars per barrel of oil equivalent of Rosneft was $3.10. This compared to a $2.80 cost per barrel for Saudi Aramco, as per company financials cited by Reuters.

vaxx1:
Saudi Arabia can last the oil war as long as it care. over 500 billion dollar in reserve for a country less than 30 million . their oil production is even way cheaper than that of Russia. even if oil becomes 10 dollar per barrel , Saudi Arabia will still be making profit cus a barrel in Saudi Arabia is produced way lower than 8 dollar. so the cost of production here suggest Saudi can really wage oil war to any country that called for it.


USA understand the financial benefit of Saudi Arabia. and America will always paddle his canoe softly .

They were also smart

they realized China and India were one day going to be the markets that keeps the global economy running and they went in first, to take advantage of the good outcomes.
The US benefited a lot from this move and cashed in big

mtisTheQubit:
They were greedy, they already had a market...either they don't have enough engineers or they are just bloody saleouts

Treasury bill is still a debt instrument

Adding money only creates debts that strangle the economy.

The economy is suppose to produce it way out of the crisis but at this moment, there is no market for them.

The Chinese owns the market and it will come at a cost to the US to have access to the Chinese market.

China has learnt the rules of engagement and they've gotten very good at it #GLOBALIZATION

vaxx1:
America might not necessarily print more currency . A separate account can easily be created for such purpose where financial capable Americans will fund it . treasure bill is a good starter .

As long as the economy is running below capacity, adding money will increases production, and thefore employment. The increase in employment and production will also raises tax revenue which goes a long way towards reducing the burden.


I hardly doubt America can ever go broke . it is too financially strong to do that.

mtisTheQubit:
I feel like they should just jump ship

only if they play to the tune of China

China is their largest customer

That country has gone in the bad graces of America for long

so much so that the US government has open the flood gate for the kingdom to face court charges.

Washington is angry with the kingdom.

vaxx1:
never underestimate Saudi Arabia. that little country is part of America in another continent .

mtisTheQubit:
An what happens when the chinese tech matures maybe copying or from transfer of American ip. Even it's all about profit, the American companies should not have moved almost all of their manufacturing to china..my take

If they hadn't, they wouldn't have access to the Chinese market.

They moved because they were profit conscious.

Now, even if they take their manufacturing back to the US

They would not be able to compete with the Chinese alternatives.

Everyone saw this coming for Kenya except the Kenyans here

You cant borrow your way out of a crisis.

samorobo:
Lol Daniel you are wicked ooooo..lol I love this...let me copy and re-paste it so that those that skipped it can have the opportunity to read it this time




Owino said the country's economy may take longer to recover from the effects of the unfolding economic recession "not necessarily because of the impacts of this outbreak" but due "to the fact that Kenya's economy had already slowed down and was a weak economy to start with".

"Last year, we already lost jobs, and the recession in Kenya was going to happen, nevertheless. Now this only makes it worse. And many businesses that were teetering on the verge of collapse will not make it back alive

https://www.google.com/amp/s/www.aljazeera.com/amp/ajimpact/covid-19-kenyans-brace-tough-times-economic-shock-looms-200329053436760.html

Austine1212:
I hope it doesn't come to that point smaller nations will suffer more

When the elephants fight, the ants suffers the most.

Austine1212:
I don't know sars and mers

But look at what I said I said "Hope"

The past has thought us that

we shouldnt even hope for it.

Especially when the country that need to help with data that will lead to proper research that will lead to a vaccine is so cagey with info.

Collaboration is everything, especially in the pharmaceutical industry

mtisTheQubit:
Man you talk like a dirty ol americano anyway I always thought clean nuclear energy is the future

that is why even Germany that shut down it nuclear reactors is pumping more money into fusion energy research

vaxx1:
sure ......how long can cassava dough last in the refrigerator?

Long enough when you place it in deep freezer to cake.
corn dough in the refrigerator is okay to last months