₦airaland Forum

If Tinubu has a stock pile of foreign currency he stands to benefit a great deal from a weaken naira....so.all those claiming to be intelligent and expert of economics should continue fooling themselves

fyneguy:
lol Funny Nigerians. You want your problems to be solved but reject solutions. You lots are clowns.

It is either you lack the reality of your present environment or you are deformed. Which money? Damn! You think the money would be spent to ur benefit. Wake up.

This guy bleep mehn!...

Print more naira notes??

Am sorry for those at d helms of affairs in Naija..

Herdsmen:
A thief will always be a thief

No be his mates Dey donate salaries cash materials
This crook na to loot Dey his mind.

Print more naira notes ... while your bullion van keep increasing fro 3 to 10.

Corona locate you.

That’s your next president oo, be careful ☝�

CreekCommando:
My brother! Tinubu is an academic push-over. Despite his wealthy and convivial background that could have aided academic excellence, he still was somehow linked to voodoo certificates and has never sounded intelligently. Someone whom a Journalist asked a question about bullion vans hauling currencies in his compound few hours to a national election; instead of responding more intelligently or even dodge that question but he replied ''is it your money?''. That's impunity and he could have been nailed if we have a country.

Academic push over and questionable certificates huh and made top management at mobil.
I cut cap for you. You that you don't have questionable certificates where do you work??
Absolute rubbish.

fyneguy:
Are you an economic expert? Why is it right for the US and wrong for us?

Is your country US??

phren:
That’s your next president oo, be careful ☝�

I rebuke you and whatever speaking through you
Tinubu will only rule yorubaland.. and so it is.

That's for textbook economists to worry about...

NwaNimo1:
lol.....mad man.
Inflation nko?

4Play:
It's funny how people who accuse others of being badly educated are themselves badly educated. Yours is a prime example of the saying that a little bit of knowledge is a dangerous thing.

You have managed to attain some vague familiarity with the policy of quantitative easing (QE) but clearly have no idea of conditions under which it is feasible. QE helps in economies facing low inflation (almost in deflation territory) and negative interest rates. To avoid a deflationary spiral, central banks do QE to keep inflation from going into deflation.

Nigeria and most African/developing countries have a different problem - stagflation. This is where inflation increases as the economy goes into recession so printing more money turns you into Venezuela or Zimbabwe pretty fast.

I had to quote so that it will be on record that someone kicked against Tinubu's idea. Thank you for the explanation. According to his supporters, because the United States, Japan and the UK do same, Nigeria should follow? Now, I know I wasn't wrong when I stated that every Nigerian should be thoroughly taught elementary economics.

MT:
This still does not justify WHY the US is allowed (which I doubt anyway) by the whole world to print more dollars as they wish. If there is a way you can explain to someone like me, I will appreciate, even if it involves you stating a scenario.

Bruv, there is no contract or economic model an "act of God" or disease pandemic cannot abrogate to reduce us to cavemen.

Essentially, a deadly universal pandemic, with no cure or vaccine, takes the world back into the stone ages where man, in his village enclave, is basically concerned with surviving by having enough to eat and the essential tools to stay alive.

Now imagine every nation as the village enclave entirely focused on its own survival and unable to count on others, equally burdened and struggling to survive, for help.

It then becomes vitally important for every nation to maintain a reward system, i.e money, that will ensure everyone continues to work to produce goods and services that will facilitate the survival of citizens of that nation.

Imagine there is no societally accepted reward system, i.e money, people will accept in exchange for being productive.

We are simply back in the stone age where it is survival of the fittest and the strongest forcefully take what they want to survive. Money is worthless and no longer an incentive to secure productivity from members of society. Nigeria would be ripe for this scenario and I don't think I need to explain why to anyone aware of the Nigerian reality.

All sounds doomsday-like. Yet it makes perfect sense if we understand human evolution necessitated that a universally acceptable reward system is in place to ensure man continues to work to provide scarce and essential goods, food for example, and services like life-saving medical treatment.

Covid-19, at its worst, can take us back to times money was primordial reward used to order society. At that stage, and with others unable to help us, we would even use Cowrie shells as money, as was the case in the past, just to give our farmers incentives to continue producing the food to keep us all alive.

Remember that a man, even if dying, will be reluctant to work for free or give away the fruits of his labor for nothing. This reality led to the creation of money as a universally acceptable reward system to encourage man to be productive and progressive everyday and throughout his life span.

That is where is heart has always lied in ... government money !

Oshigun:
Bruv, there is no contract or economic model an "act of God" or disease pandemic cannot abrogate to reduce us to cavemen.

Essentially, a deadly universal pandemic, with no cure or vaccine, takes the world back into the stone ages where man, in his village enclave, is basically concerned with surviving by having enough to eat and the essential tools to stay alive.

Now imagine every nation as the village enclave entirely focused on its own survival and unable to count on others, equally burdened and struggling to survive, for help.

It then becomes vitally important for every nation to maintain a reward system, i.e money, that will ensure everyone continues to work to produce goods and services that will facilitate the survival of citizens of that nation.

Imagine there is no societally accepted reward system, i.e money, people will accept in exchange for being productive.

We are simply back in the stone age where it is survival of the fittest and the strongest forcefully take what they want to survive. Money is worthless and no longer an incentive to secure productivity from members of society. Nigeria would be ripe for this scenario and I don't think I need to explain why to anyone aware of the Nigerian reality.

All sounds doomsday-like. Yet it makes perfect sense if we understand human evolution necessitated that a universally acceptable reward system is in place to ensure man continues to work to provide scarce and essential goods, food for example, and services like life-saving medical treatment.

Covid-19, at its worst, can take us back to times money was primordial reward used to order society. At that stage, and with others unable to help us, we would even use Cowrie shells as money, as was the case in the past, just to give our farmers incentives to continue producing the food to keep us all alive.

I have learned sth new at your feet

Thief in agbada

ijustdey:
https://punchng.com/coronavirus-print-more-naira-notes-tinubu-tells-fg/

print and share or print so he can steal it from.them ?

What is printing naira doing to solve this problem of covid -19

Are both economies same??

rusher14:
Why is it that the badly educated are the first to air their opinion on issues beyond their comprehension on this forum?

America has implemented quantitative easing- printing of more dollars to absorb the effect of Coronavirus on their economy.

If the US can do that, and Nigeria itself bases a lot of its commodities on the value of the dollar, why shouldn't we print more Naira representative of the volume printed of the dollar?

Interesting thread.

For some reason the full press statement itself is not available online - so all we have to work with is this brief extract on increasing money supply. And work with it we will.

The man's online hagiographers have not provided the full press statement - or references to it. And yet they would have us believe his 'suggestion' is this century's most profound idea. Where is the full press statement?

There is nowhere to hide now. It would have been better for him to concentrate on the NURTW and its affairs - that is his turf and his qualifications and experience in that sordid sub-culture are not in doubt. But macroeconomic policy? Definitely not. High level monetary policy and other demand management tools are not his forte - he clearly has nothing to contribute to that world. His inadequacies will be fully exposed if he attempts to start a policy debate he is woefully ill-equipped for.

This thread must not die. It is worth keeping alive.

donbachi:
Add ur name here..na men like u.

No, this is not election.

He only deploys Bullion vans at election periods.

He can't buy vote now.

That's the kind of insensitive, wicked leaders Nigerians want.

Where is buhary since Covik 1 - 9 broke out ?

Buhary can only sympathize with himself. Likewise Tinumbi.

litaninja:
Are both economies same??

It would be wise to find out what other economies are doing.

The USA, UK, the EU , even Japan are all embarking on it.

What should Nigeria's response be?

Oshigun:
Indeed and I laugh at the hate-fueled ignorance of some here. Nigeria, with its huge number of unemployed, was already in big trouble. Added to that is the gigantic problem of many newly redundant workers and breadwinners who will now not be able to earn any wage as businesses and workplaces are closed to contain a dangerous virus.

We then have an economy that cannot sustain the provisions of the palliative that can make this compulsory sit-at-home lock down a health success. People should just let that hellish scenario marinate in their heads and try to imagine where we would be if this had to go on for months with so many Nigerians already groaning a few days into financially punitive lock down.

No one is saying we must literally print money today but it is an option we must keep on the table and use as soon as required to ensure we still produce legal tender, that automatically facilitates a reward system which directly encourages vital economic production to continue.

People forget that issues like inflation are only a consideration in a stable world where economic breakdown is not simultaneously happening everywhere, to every Country and at the same time!!!!!!

With others facing what we are and unable to help us will inflation be our worry or the need to keep vitally important internal socio-economic activities going?

You are absolutely right.

fyneguy:
What is your problem with the idea?!

why is it ok for the USA and bad for us?

You cant compare the sound economic structures of the US with ours. When was the last time a two figures inflation index was recorded in the US?
Anyway, if all you have is a hammer, everything looks like a nail. With limited tools, single-minded people apply them inappropriately or indiscriminately.

Masking:
Tinubu might be right.
And I'm quite sure different governments would have resorted to printing cash in critical times.

Liquidity injections that's what its called.

I've always wanted to understand the Economics behind this.

Can someone please explain? Pocohantas?

OK...its like this...the whole world is in one room( global economy)

And they all have just 50 fowls to eat ( scarce resources)

Now without fighting but with strategies( economics) each country wants more fowl that. The other ( wealth) ppl scheme out policies to get hold of more fowl nd add to their previous no.
If as a competitor,u becom weak nd decide to ad more fowl to ur self buy hoi g outside the room to bring in fowl....

Ur fowl is invalid...

You have to fight hard to retain ur own fowl whilst still adding more to the ones you already own

Exactly. I wonder why we keep borrowing from other countries while we can print out own.

Oshigun:
Bruv, there is no contract or economic model an "act of God" or disease pandemic cannot abrogate to reduce us to cavemen.

Essentially, a deadly universal pandemic, with no cure or vaccine, takes the world back into the stone ages where man, in his village enclave, is basically concerned with surviving by having enough to eat and the essential tools to stay alive.

Now imagine every nation as the village enclave entirely focused on its own survival and unable to count on others, equally burdened and struggling to survive, for help.

It then becomes vitally important for every nation to maintain a reward system, i.e money, that will ensure everyone continues to work to produce goods and services that will facilitate the survival of citizens of that nation.

Imagine there is no societally accepted reward system, i.e money, people will accept in exchange for being productive.

We are simply back in the stone age where it is survival of the fittest and the strongest forcefully take what they want to survive. Money is worthless and no longer an incentive to secure productivity from members of society. Nigeria would be ripe for this scenario and I don't think I need to explain why to anyone aware of the Nigerian reality.

All sounds doomsday-like. Yet it makes perfect sense if we understand human evolution necessitated that a universally acceptable reward system is in place to ensure man continues to work to provide scarce and essential goods, food for example, and services like life-saving medical treatment.

Covid-19, at its worst, can take us back to times money was primordial reward used to order society. At that stage, and with others unable to help us, we would even use Cowrie shells as money, as was the case in the past, just to give our farmers incentives to continue producing the food to keep us all alive.

Remember that a man, even if dying, will be reluctant to work for free or give away the fruits of his labor for nothing. This reality led to the creation of money as a universally acceptable reward system to encourage man to be productive and progressive everyday and throughout his life span.

Bro...u made no point here....read more

Goalnaldo:
Exactly. I wonder why we keep borrowing from other countries while we can print out own.

Money must be gotten. By every nation of the world through economic activity else its will damage ur economy...

Just like mixing fake nd original money...

The volume will increase4 but the trust on both monies will b eluded

rusher14:
With all due respect, it is not voodoo economics.

All economies of the world would be printing money PCV (Post Coronavirus), and it would be foolhardy of Nigeria to stand aside and look.

Yes, we should have saved more, but it is even more important for Nigerians to embrace production.

I hope this plague becomes the springboard to engage in production much as I doubt it.

Who told u they would b printing money....they would try to b earning money not printing money....if you don't know things ask nd it would b explained instead of saying what you don't know

dele1727:
Most of the world economy is based on Credit...infact the paper you call money is actually credit note with CBN promising to settle it with another transaction...

The vulcanizer collect the credit note for service rendered and the gives the rice seller for goods sold and now the credit note is with the rice seller.


During recessions...
The CBN/Government help by
1 Reduce the lending rate
2, Print more bills.. Thereby flooding the market with more credit
3, reducing Taxes...

Please let us ask questions before we talk

Bro ur no. 2 is not correct...printing more bills will create inflation...money earned outside economic transaction is bad money nd it kills the economy instead

Oshigun:
It is just blind and raw hate for Tinubu and nothing else. Many cannot even rise above hatred to try and inspect what Tinubu is saying.


The only reaction they have is to automatically thrash Asiwaju. I pity Nigerians and understand why a lot of leaders have zero regard for ordinary Nigerians.

^^^^

Oshigun:
Bruv, there is no contract or economic model an "act of God" or disease pandemic cannot abrogate to reduce us to cavemen.

Essentially, a deadly universal pandemic, with no cure or vaccine, takes the world back into the stone ages where man, in his village enclave, is basically concerned with surviving by having enough to eat and the essential tools to stay alive.

Now imagine every nation as the village enclave entirely focused on its own survival and unable to count on others, equally burdened and struggling to survive, for help.

It then becomes vitally important for every nation to maintain a reward system, i.e money, that will ensure everyone continues to work to produce goods and services that will facilitate the survival of citizens of that nation.

Imagine there is no societally accepted reward system, i.e money, people will accept in exchange for being productive.

We are simply back in the stone age where it is survival of the fittest and the strongest forcefully take what they want to survive. Money is worthless and no longer an incentive to secure productivity from members of society. Nigeria would be ripe for this scenario and I don't think I need to explain why to anyone aware of the Nigerian reality.

All sounds doomsday-like. Yet it makes perfect sense if we understand human evolution necessitated that a universally acceptable reward system is in place to ensure man continues to work to provide scarce and essential goods, food for example, and services like life-saving medical treatment.

Covid-19, at its worst, can take us back to times money was primordial reward used to order society. At that stage, and with others unable to help us, we would even use Cowrie shells as money, as was the case in the past, just to give our farmers incentives to continue producing the food to keep us all alive.

Remember that a man, even if dying, will be reluctant to work for free or give away the fruits of his labor for nothing. This reality led to the creation of money as a universally acceptable reward system to encourage man to be productive and progressive everyday and throughout his life span.

Everything u say is incorrct

dederocs:
Exactly, other countries do this in desperate times as well, the West in particular... During world war2, and the great depression, they resorted to desperate measures to save their people and economy. Economic principles and agreements are made for man, not the other way round, Africa, Nigeria must free itself from the shackles of IMF and World bank, lets start by enacting economic/monetary policies that serve the people, by empowering Nigerians, we are creating more prosperity for our nation. Why do you think the west always pays its citizens, and gives them all sort of allowances and payments, its because they understand this principle. At present American reserve bank rate is at 0%, they are issuing intetrest free loans to stimulate their economy and create more prosperity for the greatest number, this is the work of government. We need to start printing all our currencies in Nigeria, this will also save a lot of costs.

Say only wit u know...you said america reversed interest rate nd gave stimulus bonus to citizens...did they print the notes urgently....

Pro if I were u,I would indulge economics in the house cuz they really those courses for a reason