₦airaland Forum

igbo2011: I am very afrocentric myself and I have to agree with you. but i put the blame on the west AND Afficans. The west plays their part in neocolonialism but we do ery bad things to orselves let me explan.

We have a deep inferiority complex and self hatred. We worhip Europeans and Arabs. It is funny how when they had the Royal Baby Africans were celebrating. It is funny how that baby;s ancestors brought hell to ours and we are celebrating. Woud we be clebrating if the Aashanti empire had a baby that was going to be 3rd in line? Probalbly not. We worship our enemies.

It is funny how I always see Nigerians and other Africans on the continent and the Diaspora always wear the Amrian flag and British flag. Thse coiuntries are enemies to us yet we still wear the flags. They have rought hell to us for 5 centrueis and are still here with neocolonialism and funding genocides and controlling politicians in Afrca yet we worship them. Arabs brought us hell too.

We name our children after our enemeies. We will make an excuse saying it is in the Koran or Bible. We go by these names instead of our African names.

Did you know after America dropped an A bomb on Japan, Japanese stopped buying American products? Europeans have been bringing hell to us for 500 ears an we ONLY buy European products. We have stockhom syndrome and self hatred. No matter how bad oreigners treat us we respect and love them.

A couple weeks ago Italians threw bananas at the first African politician of Italy. We respond buy importing millions of Italian suits. We have many tailors who cn make those or African designs but we just love our Italans who treat us very badly.

We will atually defend our oppressor and make an excuse I was speaking to Nigerians about th war in Libya 2 ears ago. I said how Britain and merica bleeped them up and caused a black gnocide. Instead of standing up for them they defended Britain.

Our mindset is SOOOOO messed up. With a mental revolution there will automatically be an economic one.

Great post.

If black people would think with one mind we could dominate this world..... but weak links can break a titanium chain.

^ Amen. I cannot stand pursing a chick when i know she was slept with sooooooo many other dudes.

My attitude is; take it or leave it hoe

Feminism hurts women much more than it hurts guys, instead of focusing on the negative effects on the movement lets look at the positives.

1. Sex is more plentiful than ever... women give out pussy willy nilly

2. You don't have to pay for dates anymore

3. You don't have the marry and support a stay at home wife and kids you never see.

4. Men's issues are finally starting to be taken seriously in the public sphere.

The real burden on men was traditionalism... as bad as feminism is, in the scheme of things i think we have a common enemy.

Original thread. https://www.nairaland.com/1315575/free-market-economics-why-naija

The Nigerian government offers 14% interest rates on its 1-year treasury bills. This is exorbitant, and could be the main factor in the unwillingness of Nigerian banks to lend to the Private sector. Earlier in this thread, i argued that the reason the free market was not generating development in Africa was because of a failing of the private sector itself, others suggested that it was a failure of the banks, now i will theorize that it is the governments fault, but not for the reasons often suggested ( lack of infrastructure) but rather high government Treasury Yields and their effects on interests rates all over the country.

Because the 1-year treasury is considered to be the safest investment in any country it inadvertently sets the minimum interest rate for any loan in that country. What incentive is there to loan money at 6% or 3% (like is done in the U.S) when you could get a much safer treasury bill for 14%? This creates a huge opportunity cost for money in the Nigerian financial system and makes banks unable to adequately fund growth and business in the private sector via loans. This is because they are charging suffocatingly high rates or are simply unwilling to lend.

Without this Cog in the Free market the system does not work properly, and the private sector is unable to bring growth, employment, and industrialization without assistance from the government.

So why are Nigerian treasury yields So high? It seems to be a a result of inflation, government debt and instability

Fast foward 2 months later and i've already made $400 woooooooooooooooooooooooooooooooooooooooooot

Are high-yield treasury bills stifling the free market in Nigeria?

The Nigerian government offers 14% interest rates on its 1-year treasury bills. This is exorbitant, and could be the main factor in the unwillingness of Nigerian banks to lend to the Private sector. Earlier in this thread, i argued that the reason the free market was not generating development in Africa was because of a failing of the private sector itself, others suggested that it was a failure of the banks, now i will theorize that it is the governments fault, but not for the reasons often suggested ( lack of infrastructure) but rather high government Treasury Yields and their effects on interests rates all over the country.

Because the 1-year treasury is considered to be the safest investment in any country it inadvertently sets the minimum interest rate for any loan in that country. What incentive is there to loan money at 6% or 3% (like is done in the U.S) when you could get a much safer treasury bill for 14%? This creates a huge opportunity cost for money in the Nigerian financial system and makes banks unable to adequately fund growth and business in the private sector via loans. This is because they are charging suffocatingly high rates or are simply unwilling to lend.

Without this Cog in the Free market the system does not work properly, and the private sector is unable to bring growth, employment, and industrialization without assistance from the government.

So why are Nigerian treasury yields So high? It seems to be a a result of inflation, government debt and instability

The key to building wealth is value addition, but Africans never participate in that part of the equation.

That is how whites make money even though they have no resources, but the richest land on earth is home to the poorest people

http://www.newvision.co.ug/news/645706-value-addition-can-earn-uganda-eight-times-more.html

Gold was not only their main source, but also salt. And they had a monopoly on gold so they basically did whatever they wanted to. They could have put heavy taxes if they wanted to, because they had an monopoly.

If you basically had a huge monopoly on gold, wouldn't you feel you can do anything you want with it? And also salt was very valuable during that time. Salt was used as a preservative to keep food from spoiling. There were no refrigerators during that time- the only way to preserve meat and other food products was by salting it. And again the Mali Empire had a monopoly on salt.

That is the heart of the problem

They traded gold for salt, even though salt was plentiful in their region. Make that make sense? The greatest salt mines in Africa were litterally a few miles outside the borders of the empire, but Mali still felt the need to pay arabs/berbers to bring it to them. It wasn't until Songai that black africans had the foresight to take these mines for themselves.

encouraged education. That influence is STILL seen today. He literally made Timbuktu what its known for. How is that not enriching themhuh Mansa did NOT enrich North Africans or Middle Easterners...IDK where you got that from.

It was the arab/berbers who made the bulk of money off this trade. There is no way of knowing for sure, but the malians were probably selling their gold at less than 1/10th its value. (1/1000th) its value in modern times, and had no participation in the "value addition" aspect of the trade. Which is the most lucrative part.

What im trying to make you guys understand is that Mansa musa and the Mali empire fell into the same trap that has tripped up black people for all our history.. we trade our resources for peanuts

We trade raw crude for pennies on the dollar while the oil companies sell, refine and sell it back to us for $4/ gallon

We sold huge tracts of the congo for pieces of glass, land with cobalt contan, and casserite that are needed in every electronic device.

we sold our slaves for bottles of booze, we traded diamonds for red cloth etc etc.

And mansa musa is no exception.

Sigh... these guys embarrass the hell out of me. Did that guy really have a picture of the queen Elizabeth on his shirt?

DAMN!

In my discussion with PhysicsQED I conceded my most scathing remarks about Mansa Musa being a 'coon'. I will admitt that it would have been impossible for him to improve the geopolitical significance of Mali much more than he did in his life-time.

But that still does not excuse the short-sightedness of what he, and mali in general did. I'm looking at this in the big picture of history. A piece of Gold about the size of a quarter is worth almost $1000 today, the Mali empire traded this for its weight in salt. Essentially they traded a renewable resource that can be extracted from ocean water (and was never scarce in west africa) for what many consider to be consummate wealth.

And unlike the earlier Ghanain kingdoms like the Soninke who carefully regulated the trade in order to create artificial scarcity (the way any monopolist should) the malians started to sell their gold almost as fast as they good could mine it, culminating in Mansa Musa's pilgrimage when they started giving away their main source of income.

Granted, there was not a great understanding of economics in this time period, but this is the part of the disipline that melts into common sense. The gold of Mali served to enrich the peoples of North Africa and the middle east many times more than it did the subshaharen africans.

Yeah he did gave away too much...To other Africans. Why do you think Mali was one of the richest empires in Africa during its time? If it wasn't for the Mali empire there wouldn't have been a Songhai empire. And Mansa further improved Timbuktu. I don't understand where you're getting at. The decline of Sahelian empires came with the Almoravid invasion and Europeans finding gold in the new world(mainly the factor).

Even after Mansa Musa being gone, the Mali empire was still a superpower in its region. Again Mansa Musa didn't give away too much. You're keep forgetting that he imported many things to improve the life of many of his citizens.

Musa went to mecca with hundreds of black African slaves, why did he find arab beggars more worthy of generosity than his fellow blacks?

Mali was the richest nation in Africa, because it had alot of gold and no other reason. Musa was in the right place at the right time. When the north africans invaded the empire its gold was mainly depleted by waste-full trading practices.

1. No, most of Europe's gold did not come from the New World, the vast majority is African in origin. Initially from Mali and Songhai, later the "gold coast" of Ghana and finally South Africa in the 1800's. While alot of gold was imported from the new world, the main metal they were extracting was silver.

2. The Chinese central bank is one of the number 1# holders of gold in the world. But most of that comes from their own production... it has no bearing on my point.

KidStranglehold: I want to bump this thread again out of sheer frustration.

Again how the h#ll was Mansa Musa a cooon when outsiders like Middle Easterners and Europeans praised the Mali empire and Mansa, all went to Timbuktu to be educated(Timbuktu was one of the centers of learning) and Arabs in the Muslims considering Mali and Mansa Musa to be their equal. Non Africans worshiped him, it wasn't the other way around.

Seriously...Some people.

Bro he gave away too much. That was the wealth of his children, grandchildren and great-grandchildren and he gave it away like stones. Today that same gold sits in Fort Knox, china, and the central banks of Europe, never to return to Africa.

That is damn near a crime against humanity.

Desanta: I agree with him that it is better to do 91 days, as long as the rate does not drop and you have the time to bid every 3 months.

Were do you buy the bills from, are they easy to get?

Were do you buy them from, and how many do they let you get at a time?

Ogene?... i think it was Ogugugunkele INT .......maybe i have wrong information.

If you guys are really getting real 14% returns off mere treasury bills that is prolly the best investment ever. After college im relocating to Nigeria...

I agree with Khiaa. What is the point in making all these petty distinctions between who is white or not? Do white people count differences between the Igbo and Hausa?

Abeg... let this issue rest, Kim kardashian is white.

Desanta: If it is not safe, what is the alternative?
As for your question, I don"t understand it.

I read that Nigeria is experiencing 12% inflation every year.

I am asking if you if you "feel" it. Basically do you actually see prices increasing drastically every year or is that 12% inflation rate just a number

http://www.fivecentnickel.com/2008/04/28/the-best-online-stock-brokers/

^ This website has a list of some the top brokerage websites in the U.S, the application process is done online.

This is the one i use: https://wwws.tdameritrade.com/cgi-bin/apps/AccountApplication?entity=103&a=WEB&referrer=https%3A%2F%2Fwww.tdameritrade.com%2Fhome.page

Keep in mind, things are done very very differently in the U.S and you wont be in contact with a human broker to make trades (although they do have customer service), just simply an online software that you use to buy and sell stocks at your own discretion. There are still some physical brokerage companies but i don't know much about them.... most people use the online brokerages over here.

The websites listed above include contact numbers for further information... u will probably need a U.S bank account

olire: GYS what is a stock SPLIT

Basically if you have a position in the stock and it splits, the amount of shares you own will double, but the price of each share will be cut by 50%

this is done to add liquidity to the market and wont have any affect on the profitability of your position

This morning i made $150 on BAC cuz of good U.S Jobs numbers... dunno if i should get out now or be greedy.

Fmdipo: I just fund my meritrade account today with #50,000 and don't know where to start. Pls any advice from any experienced member.
Which shares should I buy and how many units, should I split the 50k to difference shares and how?

Are you Talking about TDameritrade? Thats what i use also.

They dont deal with nigerian stocks, only the N.A and E.U indexss. The only positions i have are long BAC (bank of America) which is trading at 12.96 per share and KO (Coca-cola)

but the first rule of trading is to not take anyones advise

Boo hoo hoo

^ Why