₦airaland Forum

AdolfHitler1945:
Putin my lord i will fight in the russina army under your contol please russia number 1 russia number 1 russia number 1 wagner shouldnt havr rebled i love russia russia is best cpuntry america bad russi= ukraine=

*Politeness*
Why not go? Just asking

*Politeness*
The same way they found "cure for Covid" b4 anybody even sure what was Covid. We remember!

regenerateman:
Your analysis is good, but Nigeria will not benefit, rather it will increase hardships in the country. We don't export to other countries. We rather import. Assuming that we export, the floating of naira would have made our exports cheap and import dare. In the long run bringing in alot of forex. This is reason why US always accused China of devaluing her currency thereby many Americans buy more Chinese goods at a cheap price and at the same time making Chinese buy less American goods bc of higher prices.

*Politeness*
We don't necessarily have to export, we just have to stop importing (because price for foreign-related is too high). Example, foreigners don't have to japa here, we just have to stop japaing to their countries to benefit. I read where people were complaining that their japa has evaporated due to floating - but saving the country brain drain, youth flight, and visa and flight money!
But we are talking floating not devaluing as in China. Most products from China you consider so cheap cost the original buyer from China ⅛ of what you paid, wholesale!

Most people will no longer be able to afford anything foreign and be forced to look inwards. So also most foreign travels will cease. Those in diaspora will be comming home to buy, invest, and vacation - no matter the amount of insecurity (that's just how people are), foreign countries will look for ways to assemble products in Nigeria. Then there is remote work, online work, outsourcing,etc. Nigerians will device all sorts of ways to make dollars!

Marpol:
LoL! That's your response?

*Politeness*
It's not a bad response. Those are hard, long-process things to do. If I were a dictator, I'd peg the Naira at 500 per $, BUT no importation of any kind except raw materials for local industries. Only local-made will be used in Nigeria. But I know other countries will cry fowl - why would they allow us access to their markets if we don't allow them access to ours

t2luv1:
Okay, let us cut to the chase partner. The USA supports the dollar indirectly, how? by increasing the yield on the Treasury Notes. The 10-year T-Bills yield is actually what trends very closely to the mortgage rate. They will increase the yield to draw foreign capital to buy their debt, which in essence serves two purposes 1. Finance the country's debt, 2. Provide artificial liquidity support to the dollar. With a budget deficit of close to 34 Trillion Dollars USA is now a country too big to fail. Nigeria shouldn't have floated the Naira, the same bankers advising Nigeria to float her currency just happened to be shortening the currency. They are all betting against the Naira. To correct this, peg the currency to varying bands of N700 - N1000. This will in the short term lead to higher borrowing rates, but overall bring down inflation and cut food prices.
Provided the country can reduce the cost of governance, 65% of Nigeria's budget goes toward governance like paying Senators, House of Reps, and so forth.

And where will you get the forex to peg at 700 - 1K. Also there'd be plenty of Naira chasing the undervalued dollar. Where will you get the dollars to satisfy such demand. So you have to deal with aboki blackmarketers and round tripping of govt insiders and hoarding and most diasporan remittances never reaching the country, and people preferring foreign because of cheap dollar therefore domestics suffering, and, and, and!

HellVictorinho6:
Now video game madness equals cosmic bala blu but never equals everyday bunkum which u take as a proof of same universe bulala yet equal to newtonian shit


Like even the concept of a video game arose from the everyday crap u claim is below whatever balderdash

*Politeness*
Assuming we are in a simulation is akin to video game. Infact the most ardent proponents that we are in a simulation are video game designers like Elon Musk. They can easily see how those video game characters can be given "free will" and think that's reality!
Watch this:
https://youtube.com/shorts/-gIcpOeis0k?si=Sp9MzzF7yhC-fUST

surgical:
This theoretical, why have uk ,us other countries devalue their currency or don't they want prosperity like you deserve, its because it doesn't work that way
It is just grammar floating is devaluation it's same thing coined in another way, they both achieve same thing, and this market forces you guys alway talk about does not always allocate efficiently ,reason no serious government leaves the value of its currency to the vagries of market forces
My last line on this ,the experiment the voodoo economy has always advocated has been implemented now, we are waiting to see the eldorado it will bring, I hope they won't change the narrative latter after seeing the irreparable damage the ill coincided idea is
I just hope in the long run we are not all dead
Because they are going to be telling us the eldorado is in the long run

Well.people are already complaining, complaining o, that floating has reduced the rate of japa. Keeping our youth and brains and visa money here is a bad thing!.
If Nigeria were blockaded, no imports, only exports, what do you think will happen? Do you think Nigerians will die off?
Countries can't just devalue anyhow - it is like reducing your price to beat the competition - they will reduce their prices too! (Or they will buy up your supply and hoard to sell back to you when you run out!) Also see below

HellVictorinho6:
U are using time again

Then u say no existence b4 our simulation,then gudnez gracious.

Yet the simulation points at whoever...in existence thatz independent of tha simulation.

Is it bcuz u have murny to waste?

*Politeness*
Cosmic language and also language near the speed of light are not same as everyday language. Newtonian physics and language works fine for our every day affairs.
From the perspective of a character in a video game reality and existence begins and ends in that reality. He doesn't know he's in a video game and asking what was there before the computer was switched on makes no sense.

aviara:
It is compete foolishness to justify devaluing the naira because China does same. china and Nigeria are not in the same class in so many areas. Industries don't run on generator in China, China has enough productive capacity that can serve one third of the world's population. So devaluing their currency is strategic to boost their economy. In the case of Nigeria devaluing the naira causes inflation because farmers are selling all their goods to neighbouring countries causing food shortage and inflation.

Nigeria is floating while China is devaluing.
Who will the farmers of those countries sell to?

surgical:
floating and devaluing is the same thing at least from the effect
We have been devaluing in Nigeria or aiming at proper value for the naira for a long time and we have never achieved what they preach we will get if we take the prescription I wonder why our leaders still fall for same bull shit
To move away from monoproduct, we must diversity, Starr from product we have comparative advantage in
We mustn't put the cart before the horse as we have done,the country is a going concern is not dieing anytime soon,why take hasty decisions, proper thoughts must be put Into our policy formulation,and government should endeavour to avoid voodoo economist at all cost,they are bad news always

Nope, floating iis not devaluing at all. Let's say the true market value is $1=N2K, and the government intentionally pegs it at $1=N3K, that's devaluation. Most people will no longer be able to afford anything foreign and be forced to look inwards. So also most foreign travels will cease. Those in diaspora will be comming home to buy, invest, and vacation - no matter the amount of insecurity (that's just how people are), foreign countries will look for ways to assemble in Nigeria, remote work, etc. Nigerians will device all sorts of ways to make dollars!

surgical:
What you are saying is theoretical, we've seen the devastating effect of such policy,our voodoo economist always forget their parlance cetris paribus when postulating
They just copy and paste
China that is devaluing, we don't have same environment and values, so we can't get same result, e.g their leaders are less corrupt,they put their nation first unlike our own,they have highly developed infrastructure that can aid production,their government supports their industries big or small with whatever they need,the have adequate factors of production,men, capital, technology, enabling environment
Above all they have mirages of products to export to generate the required forex
Unlike Nigeria that is a monoproduct country, who doest even have control over the price of the product or even quantity to produce
How is such a country going to benefit from devaluation or floating, impossible

But we are talking of floating NOT devaluation as China practices. Do you know some products you buy made in China and be wondering how they can be so cheap were bought in China for 20% of what you paid?!
And how do you think Nigeria will be forced to stop being a monoproduct country dependent on imports?

LordReed:
Are you going to say anything more than say Matirx, quote Einstein and fanboy Musk?

*Politeness*
😅 We are are just having an intellectual discussion, after having established the fact that we know almost nothing. There's possibly a super being hypnotist somewhere laughing hysterically at how stupid our "intellectual" discussion is

DeepSight:
What do you mean by "everything" and how will that exclude "our particular reality?"

Everything, excluding nothing
Let's say we're in a computer program that was launched 13.8 billion years ago (from our perspective). Our entire notion of reality and existence is within that computer program. But of course outside the program there is a whole different kind of reality - there are people going to work, giving birth, etc.

DeepSight:
No, there would have been the simulator. Still a pre existent thing. And from our view, from the view of those within the simulation, the simulator would be transcendental and beyond time and space.
See?

But it is outside reality, outside existence. Existence to us is our simulation, and from our perspective, before our simulation, well there is no before our simulation

HellVictorinho6:
how can u be sure the universe exists when u say it was preceded in the absence of time?

DeepSight:
To be honest, the only thing that a human being can really know absolutely is "cogito ergo sum."

😆 Cogito that has been proven wrong a long, long time ago

DeepSight:
It is very true that we are terribly handicapped in this matter and that, by the way, is why it is good to be agnostic generally, as stated by the OP, Politeactivist. It is also wise and signals the right humility which we should have in light of our smallness in the vastness of the cosmos.

However the question of inferring that a self existent element must exist for anything to exist at all is a matter of pure deductive and inductive logic. It is not the sort of thing for which some sort of physical evidence can or should be produced.

LordReed:
I want to know why you think it must be the case. Show me how you eliminate every other possibility to land on this one.

How about the possibility that everything has always existed but our particular reality was launched 13.8 billion years ago

DeepSight:
In truth our reality could only be a simulation if one ponders the matter deeply. However that changes little and its best to approach this discussion without that supposition, at least at the earliest stages of engagement.

*Politeness*
You really believe it changes little? If this is a simulation then the question of what was there before the simulation was launched makes no sense from perspective of those in the simulation, because there is no before that.. From perspective of us in the simulation (which, from our perspective, was launched 13.8 billion years ago) we can only say that reality did not exist before our simulation was launched. It was less than nothing: there was no reality, no existence, no nothing!

philos:
What does Nigeria have that they'll sell to other countries?
That's why one of the Presidential Aspirants was prioritizing "production" over "consumption", and we ignored him because of where he's coming from.

We don't necessarily have to sell, we just have to stop buying because price for foreign-related is too high. Example, foreigners don't have to japa here, we just have to stop japaing to their countries

just2endowed:
You have almost solve the puzzle. China can float their currency because China has great export in trade than import.
If you ask tinubu if he understood the economic technicalities behind floating a currency, I believe he doesn't have a clue.
Back.

For a country to float her currency, export must be greater than import. The balance of trade must be in surplus, investment confidence in a country must be all round positive, security and local production must substitute foreign goods, etc. If all these are in place, then naira cam compete head to head with other currency

See below

Blitzking:
..why do we then av to use force to open their warehouses after purchasing all the food..since its chicken change to dem .

*Politeness*
Meaning?
The only problem will be middle men. Take China for example. Do you know some things you buy from China and be wondering how they can be so cheap have already been marked up ×5 by middle men (traders)? That's the magic of currency devaluation. That's the only way those things can be so cheap

Blitzking:
To be a fair judge I shouldt then have the right to go to the room they av paid to store good and cry hoarding of food..when a foreigner with 10 million dollars creates artificial scarcity and make us beg for crumb of bread for 10k per piece.

They can't create artificial scarcity of what you make and can always make more. They can only make scarcity of something like land, which you can make very expensive for a non-citizen to buy and continue owning

Blitzking:
But it will make my children unable to afford things in my house cos in the first place it wasn't free for my children..so my children might starve to death cos a foreigner has a higher purchasing power..he would also rent all my room and store my food creating artificial scarcity for my children and remember my children are already shortchanged cos the little they had has already lost value. The question is how can I attract foreign investment without making my children suffer...economist in the house over to you we need to solve the riddle.

They will buy all those things with forex which will leave their pockets and be in yours. Your children will at first complain bitterly but will adapt and eventually find "ways". Meanwhile your neighbor becomes addicted to your cheap goods and stop making their own. Eventually you'll start giving them high-interest credit because your household lives on so little, eventually you'll own them!

DeepSight:
Clearly we have to take a step back. I can see now the problem with my not having explained why the universe cannot be eternal in the past, relying on the fact that you concurred that it had a beginning. That was a problem. Because there is a factor in there that we do not necessarily agree on, but glossed over. Here it is.

Matter cannot be eternal in the past because it is mutable. A thing that changes form cannot be eternal in the past.

Now, this is a statement that a lot of people seem to struggle with whereas some immediately grasp. I would ask that you take a few minutes to dwell carefully on it, and see if you find agreement with it before we proceed. If you don't, I will attempt an explanation.

Assume our reality is a simulation and discuss eternity, mutability, etc from that perspective

HellVictorinho6:
u dont understand

i was not talking about trains moving

i was talking about being preceded in the absence of time ...not possible.

But there is no time, there is only spacetime

HellVictorinho6:
how can u be sure the universe exists when u say it was preceded in the absence of time?

If the universe is a simulation or matrix, and that simulation was launched what we perceive as 13.8 billion years ago. Before that, well there's no b4 that from our perspective.

HellVictorinho6:
that they come from u does not mean u choose them

the environment makes u to produce them

it also makes u to do anything else

to choose means to suggest that u have control or the ability to withstand certain things

But you can see clearly from the illustrations how someone can be operating 100% sure they have freewill when in fact they don't! How it is very likely that free will is an illusion, that we only think we have freewill

*Politeness*
To illustrate what I said above check out these two videos, one is a minute, the other is 30 sec. Remember, this is just a fellow human who probably doesn't even know exactly why it works. If a fellow human can do this, what can a super being do? Also note that the guy doesn't remember being hypnotized, he thinks he's just operating of his free will.
So, outlandish as the notion may seem, the more you think about it, the more you'd tend to agree with Einstein viewpoint.
Also, Einstein used to keep a pen by his bedside and used to wake up and write down thoughts dropped into his mind. As he later refused to take credit for these thoughts, maybe he knows something we don't!

30 sec short
https://youtube.com/shorts/LyQ8krZpCtw?si=0g-fpB6HesZNDTv7

1 minute

https://www.youtube.com/watch?v=1ON_Q5RXr44?si=bbshYsaxBclZINzm

DeepSight, LordReed, KnownUnknown, HellVictorinho6, francistown, FxMasterz, jaephoenix, maynman, hopefullandlord

Belial06:
This is a very inane childish way of looking at it. In that case why isn't everyone rushing to Venezuela?

If you don't understand something don't comment

*Politeness*
Floating is different from inflation. Also it depends on the type of country. Nigeria is the the type of country that CANNOT lose in the long run by floating her currency.
The only losers will be those who wish to travel, those who need to buy foreign, round trippers, blackmarketers, currency hoaders and speculators, corrupt government and CBN insiders, foreign countries who'd get less of our japa youths and brains and visa money!

HellVictorinho6:
There is no such thing as universe/EVERYTHING that exists



It makes no sense to say something happened..(past) ..in the absence of time.



There must be time if one thing must precede some other.

The entire big bang/universe concept is rubbish

As 4 thoughts, they are overrated.

Even death is overrated.

Whether u send that murny or not, it remains that way.



U think,hence ur thoughts.

They come from you.

Itz just part of what makes u. Thats why you call it yours.

But Einstein discovered (entirely thinking in his study) that time doesn't work like that, that it is intertwined with space and motion. He imagined two trains speeding in opposite directions. They'll record different times for an occurrence. Also the faster the soeed, the slower time gets till it stands still at speed of light and reverses beyond that - and you have time travel into the past!
As for thoughts, I'll try to think like Einstein. We know you cannot NOT think of something (eg a pink elephant) no matter how you try. We also know you can't decide what dream you'll have no matter how you try. We also know people can be hypnotized and told what to do - yet they'll swear it was a their free will, that they are not being controlled. All these will seem to indicate we have no power to override our own thoughts, yet those thoughts were just there - we're not the ones who chose them!

Gadafii:
mention any local manufacturer that are likely to replace these foreign ones, are you aware of how many local companies have folded the past one year,??!

If this is the case, why is dangote cemetery expensive since the source raw material locally??


Why is tomorrows and onions fucking expensive since they are produced locally

It doesn't have to be big companies. People will learn how to make their own soaps and cough syrups, plus small mam and pap local manufacturers. Any local company that folds despite lack of competition from foreign-made (due to expensive dollar) should not be in business in the first place

Maxxim:
So this is an artificial condition, if the government did this on purpose why reassuring the masses on empty promises.
The irony is that this country won't be able to sustain this development cos we adopt American lifestyle which is the consumers type.
This is just like treating malaria with chemotherapy treatment

*Politeness*
See my post above. Actually the government just said, let's stop wasting resources trying to artificially hold up naira (with the attendant round-tripping, corruption, black market, hoarding, and speculation) and just let the market decide it's value with everything transparent.
No way it can be a bad thing in the long run.

Gadafii:
unfortunately the reverse is the case, more firms ad businesses are packing up on a daily, in fact international companies in their numbers have left the shore of Nigeria due tho this valueless naira e dollar and other factors

But those are companies who source their raw materials overseas. They'll be replaced by those who can source locally. Example, P&G will be replaced by local manufacturers of those items because people still have to use them. Meanwhile companies based overseas will arrange assemblage in Nigeria due to cheap labour. Devaluation is only bad for citizens wishing to travel or buy foreign. In the long run it is never bad for a country. Of course devaluation is different from inflation, which also affects prices of home-made.