₦airaland Forum

I have always asked myself this question. Why are we using the dollar system. Why are we exchanging goods & services using the dollar as a reference point?...how did the world get to this point.

I mean first, it was the barter system; which was in its own right effective. But Education said there was no way to quantify what is equivalent to what.. how many tubers of yam should be equivalent to one bowl of rice etc.

Then we went to cowries... Education said the shells were not uniform enough..

We tried Gold.. ah!! Its too scarce...trade deficit issues, it can being down the economy.. blah blah blah.. Government cannot control it...which Government actually? 😏😏

And now it's dollar.. and they say it's efficient because that is the major advantage the US has over other countries.

Kenyan President, Ruto, once asked "why we are trading with US dollar in africa"..Why?.. why give the dollar more power...

The US has its hook in our throat with the dollar. They say prices are controlled naturally but we both know that's not true...

And I'm just here thinking, will we ever get out of this dollar system? The same way we were convinced to leave cowries and gold.. even though we had it in abundance compared to the west.

Now the West is in control...

Where do we go from here?

World power no be by mouth.

K

The world will soon evolve to the point where dollar will no longer be required for basic international transactions.

Ghadafi of Libya and Saddam Hussein of Iraq both asked that question

We know how they were ended


.

OP RIP in advance

The Kenya President is an hypocrite go to there immigration and tell them you want to apply for Permit they will Bill you in Dollars wether from Neighboring Africa countries or any Africa countries....

The guy is just making noise they say Charity Begins at home since when he had made doz speech what change of Policy has he implemented....

What does dollar, euro, yen and remnibi have in common?

All are currencies of exporters of manufactured goods and servicies

If we do likewise, and improve tax uptake at home, and fight corruption, Naira might be stronk.

nairalanda1:
What does dollar, euro, yen and remnibi have in common?

All are currencies of exporters of manufactured goods and servicies

If we do likewise, and improve tax uptake at home, and fight corruption, Naira might be stronk.

Totally agree with you… but is America ready to even let go of that position.. I can bet that any African country whose currency starts coming up will face economic wars from the west

HeartlessMan:
OP RIP in advance

Ode eshi Dey… nothing Dey happen…lol

MS247:



Ghadafi of Libya and Saddam Hussein of Iraq both asked that question

We know how they were ended


.

That’s why nobody gree talk again na

squash47:
The world will soon evolve to the point where dollar will no longer be required for basic international transactions.

Hmmm… I don’t see this happening in this century

LexNuel:
I have always asked myself this question. Why are we using the dollar system. Why are we exchanging goods & services using the dollar as a reference point?...how did the world get to this point.

I mean first, it was the barter system; which was in its own right effective. But Education said there was no way to quantify what is equivalent to what.. how many tubers of yam should be equivalent to one bowl of rice etc.

Then we went to cowries... Education said the shells were not uniform enough..

We tried Gold.. ah!! Its too scarce...trade deficit issues, it can being down the economy.. blah blah blah.. Government cannot control it...which Government actually? 😏😏

And now it's dollar.. and they say it's efficient because that is the major advantage the US has over other countries.

Kenyan President, Ruto, once asked "why we are trading with US dollar in africa"..Why?.. why give the dollar more power...

The US has its hook in our throat with the dollar. They say prices are controlled naturally but we both know that's not true...

And I'm just here thinking, will we ever get out of this dollar system? The same way we were convinced to leave cowries and gold.. even though we had it in abundance compared to the west.

Now the West is in control...

Where do we go from here?

If you look at history, the nation with the most powerful Naval power tend to be the most dominant power.
In the modern era, aside from the US being the most dominant military power, more importantly , the US has the most diversified and versatile economy in the world. The diversity and versatility creates the kind of economic stability that no other nation in the world can rival.
The the diversity and dynamism of the US economy and financial system absorbes all the shocks and unpredictability of all other economies.
Smart money looks for safety above every other consideration.
Therefore, the US dollar is always , and would always remain the reserve currency, the currency of last resort in any period of the global economic cycle .