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It is always very difficult trying to enlighten people on why printing more money to augment financial deficit is not a good option. Some, especially those who don't understand the principles of economics wonder why money should not be printed if the government needs it so badly.
The resort to printing makes money lose its value, making it look more like any other paper which culminates into high depth of poverty, unemployment, hunger and penury, and eventually results in economic depression. It has crumbed so many economies and Somaliland is a popular case. The attached photos give an illustration of what happened to Somaliland.

Either printed or not printed what's the usefulness of the naira self

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Hmmm I laugh

Anyways, every countries prints money, but there is a limit to what each can print compared to the currencies of that USD and the likes.

We told y'all Buhari will turn Nigeria into another Somalia and he has

Is that a medium of payment or storage of contraband goods?

U print money based on what u earn. Example u earn $10 billion, u print 4.9 trillion naira assuming exchange rate is $1=N495. No problem. Where problem arises is when u did not earn $10 billion and decide to print 4.9trillion naira. Oga u are playing with inflation and multiple devaluation. The problem with printing unearned income is u don't know how much to print and you don't know when to stop printing.
Zimbabwe did not know when to stop printing money because each time the govt had money problem, they started printing.

MadamExcellency:
Is that a medium of payment or storage of contraband goods?

What you saw there is transactions taking place. Small transactions like buying and selling of onions, tomatoes, pepper, etc

Now, this shit is getting scary.
Like I always tell people who care to listen, stop saving your money in naira.
Even your government doesn't trust naira enough to save in it.
Nigeria has its money in foreign reserves because the US dollar is a currency owned by a serious country.
So, the unserious government here can afford to render our naira useless.
I just hope it doesn't get to the Zimbabwe or Somali economic catastrophe.

Is there really any difference to what we have in Nigeria?... our difference is just the usage of online transfers.. while the civil war has ravaged Somalia's internet and mobile connections which has made them go manual.

Imagine 10 packs of N500 notes equaling 500k and getting just ten piece of $100 note..

Same goes for 5 packs of N1000 notes to equal $1,000..

Atleast now Nigeria see a clear picture of our exchange rate under Buhari, coupled with the fact we tower above them on terrorism

It's scary right?if we don't pray well and work towards it Nigeria will be worst for it buhari are the delusional Dumbo's supporters has messed up this country

Them no see touts and thugs to rob them Na why e no expensive

Omoh!

This government has destroy the country beyond repair.

only in Nigeria does the naira has value,in other neighbouring countries they prefer trade by batter or in foreign currency or in their local currency.

Like for PDP era.
Share for APC era.

Once upon a time!

LifeOfTrigga:
Them no see touts and thugs to rob them Na why e no expensive

Omoh!

Na tipper abi na gwongworo you go carry come rob them? You no see as money plenty and dey useless for there.

This wan na small ! E no reached Zimbabwe own

if I were the government, na to burn half of the currency to equal half of what we earn in dollar

So are they selling the money?

I don't understand... are they buying and selling the currency? With what currency?

Nonexistent:
Na tipper abi na gwongworo you go carry come rob them? You no see as money plenty and dey useless for there.

Sammy07:
Anyways, every countries prints money, but there is a limit to what each can print compared to the currencies of that USD and the likes.

What in the name of gibberish is this? are you a nursery 2 pupil?

You cant arbitrarily print money without a corresponding increase in the GDP which is the actual goods and services produced within a country, else hyperinflation will set in

If you are printing money to replace old and worn out notes which will be received and burnt then its a totally different scenario

Nonexistent:
Na tipper abi na gwongworo you go carry come rob them? You no see as money plenty and dey useless for there.

E fit carry ship come pack N200 worth na

This is why it is a great evil to impede production for the sake of nepotism like the presidency is doing. You allow herders to graze crops that could have boosted the GDP and in the process reduced the overall supply of what money is meant to exchange. That makes more money available to fewer goods and thus trigger inflation and devaluation. Why not make the herders work to feed their cows and let the crops of the farmers add to the overall GDP?

Save money and leave for Rwanda

Esseite:
Is there really any difference to what we have in Nigeria?... our difference is just the usage of online transfers.. while the civil war has ravaged Somalia's internet and mobile connections which has made them go manual.

Imagine 10 packs of N500 notes equaling 500k and getting just ten piece of $100 note..

Same goes for 5 packs of N1000 notes to equal $1,000..

.[/b]

So in essence our money is not better than somalian shillings and we are two place above
Them in Terrorist ranking
Atleast now Nigeria see a clear picture of our exchange rate under Buhari

Save your surplus cash in foreign currency preferably dollars, euro or pounds else your tears will be premium. The terrorist government doesn't want your prosperity and will do everything to frustrate you. When will the educated fools in Southern Nigeria learn? When?

There's this story i heard about German hyper-inflation period.

A woman carried a wheelbarrow filled with money to buy bread.
Alas the wheelbarrow was stolen and the money thrown on the floor.

phylshan:
It is always very difficult trying to enlighten people on why printing more money to augment financial deficit is not a good option. Some, especially those who don't understand the principles of economics wonder why money should not be printed if the government needs it so badly.
The resort to printing makes money lose its value, making it look more like any other paper which culminates into high depth of poverty, unemployment, hunger and penury, and eventually results in economic depression. It has crumbed so
many economies and Somalia is a popular case. The attached photos give an illustration of what happened to Somalia.

By the time Buhari is done with yll Somalia will be like a paradise. We warned yll but yll where doing 4 +4 smh*

And Buhari is leading us to Somalia and Zimbabwe way