₦airaland Forum

tojahh:
May we not go the Zinc way tho

Godjone:


When i was in LAGOS those days, there is this stench in ikeja very close to the police college. It was a smelly, toxic and muddy stench. Back then, it was popularly referred to as Zimbabwe.. .



So Zimbabwe is still the Zimbabwe of yesteryears NA wao
.

chinchum:
I thought obasanjo advised we contact Zimbabwe on how to combat inflation.

Goody two shoes Baba.

TUANKU:
Commodity correlated currencies. There are plenty of examples of countries where their wealth and currencies are able to be tracked and correlated to a specific commodity or multiple commodities.
The value of the Australian dollar despite not being backed by their commodity asset (Iron) officially, it still has a significant effect on their currency. Many countries have a currency that is closely linked to oil with currency and economic fluctuations coinciding with oil price changes and availability. These include large economies such as Canada, Russia, Columbia and Norway. These are all large exporters of oil, a commodity with a high value in today’s world that relies upon it as a resource.
There are no currencies that are backed directly by gold. However, this doesn’t mean that gold or other commodities are irrelevant to their economy or currency. The Zimbabwe ZiG is backed by both gold and foreign currencies.

bassdow:
Gaddafi of Libya tried this, we know how it ended. hopefully, this president, who means well, have equally secured himself and his country very well. WESTern powers no dey like make anyOne try deDollarize.

But wait Ooo, Russia gan sef no well. na dem cause all these Depolarization

Skooltynz:
The whole Africa should adopt a single currency like Europe I believe it will help our respective economies.

Yabatech partime form is now out, will close fifteenth of next month the earlier you apply the higher you chances of admission.if interest ed call
zero eight one two four zero six four three five three .

DeepSight:
Grammar. You said there are many countries with gold backed currency and now you admit that is false. Period. No long thing.

RemoveKebab:
They are about to get the American freedom
If you know you know.

Asonaijaaso:
Finally. I was wondering how long before they knew what to do.
Africa should back all its currency to the natural resources they produce
And watch money flow into Africa
This is what Gaddafi proposed that got him un-alived.

CCIA:

Dangote fit bail that country out anytime anyday.

how can a whole country be backed by only $100 million cash and $185 million gold reserve making a total of $285 million

RenaissanceGuy:
Please, you people should stop this propaganda already. The man was a casualty of the Arab Spring that brought down a lot of Arab governments and the way he was trying to use the military to crush his own led to a civil war, the same way Syria's own has also led to a 12-year old war.

Ibeme:
Conspiracy theories have finished Africans minds

Otherwise how will someone launch currency with $285m if gold and call it "backed by gold"

Zimbabwe are crazy.

Any random country has billions in gold reserves and don't claim their currency to be "backed by gold"

mariahAngel:
Are you from Ibeme?

Ibeme:
No

TUANKU:
What is false you dork?

TUANKU:
Many currencies are backed by gold...

TUANKU:
There are no currencies that are backed directly by gold.

TUANKU:
Sorry Einstein i have no idea about commodity correlated currencies. That the gold standard is gone does not mean commodities like gold and iron are not used to back currencies.
It happens in Australia, Norway, Colombia, Canada...you can go check it out Einstein
What a dork you are.

TUANKU:
Many currencies are backed by gold...and it did not lead to civil war.
NL Einsteins...The gold standard was dropped, there are no currencies that are backed directly by gold. However, this doesn’t mean that gold or other commodities are irrelevant to their economy or currency. There are plenty of examples of countries where their wealth and currencies are able to be tracked and correlated to a specific commodity or multiple commodities. For example, The Australian Dollar is sensitive to changes in iron prices as they are the largest exporter of iron worldwide. Many countries have a currency that is closely linked to oil with currency and economic fluctuations coinciding with oil price changes and availability. These include large economies such as Canada, Russia, Columbia and Norway.
There is correlation between commodity and currency...they have an effect on a currency that can be seen and tracked they are not directly backed by these commodities.
The Zimbabwe ZiG is backed by both gold and foreign currencies.

RaptorX:
The Libyan people looking stupid now allowing themselves to be used in destroying a once prosperous country. The democracy they were promised is now a mirage and even the Egyptians are back under another lifetime dictaor in AL sisi, so much for the Arab spring.

VanuatuWycombe:
Hope their economy won’t be zigzagging.

DeepSight:
Its up to you to reconcile these statements -

Statement 1 -



Statement 2 -



Statement 3 -



But what is the fact of the matter? -

Which Countries are on the Gold Standard in 2024?
As of 2022, none of the world's countries use the gold standard. However, several countries used it in the past

https://worldpopulationreview.com/country-rankings/what-countries-are-on-the-gold-standard-today

Pride is a stupid and terrible thing.

You were wrong. You even admitted that you were wrong. But on account of pride, you first try grammar, then you resort to insults.
Enjoy.

MichaelSokoto:
Prof. Economics, biko warris our naira tied to?
no insult, na lecture I want!

TUANKU:
I just mentioned few currencies backed by commodities, yes the gold standard is gone but currencies are still backed by commodities like gold and others. Take away the gold at fort know and see if the value of the US dollar remains the same.
Again you are really a dork.

MichaelSokoto:
Prof. Economics, biko warris our naira tied to?
no insult, na lecture I want!

TUANKU:
Clifford Orji...Ask your CBN Governor that question.

Skooltynz:
The whole Africa should adopt a single currency like Europe I believe it will help our respective economies.

Yabatech partime form is now out, will close fifteenth of next month the earlier you apply the higher you chances of admission.if interest ed call
zero eight one two four zero six four three five three .