I've heard stories of when Naira was more valuable compared to Dollar and some men and women here were alive back then. The only reason for that is because of the low denominations of Naira back then.

Do you think of the possible reasons why people kicked against proposed creation of 5000 naira note during Jonathan administration? I guess you did not really think about it most of us just kicked against because of the hatred we possessed for the man.

Well, If there are only lower denominations of Naira or there's not enough Naira notes, Naira would have been valuable just like Dollar that the highest is $100.

This thread was created because of one mumu meme I saw with the caption, "why do they collect tax when they can print more money". It's mumuish to be sincere . Don't believe in everything Lacasera dey papa tries to teach you.

Thanks.

And whoever compares money heist to prison break again should be slapped endlessly.
Michael did those things with little or no technology. And the series were everywhere without these mumu social media hype.
Think about it nah

In fact this weather nah for two true true

Filly3:
In fact this weather nah for two true true

Weather??

Shanklee:
I've heard stories of when Naira was more valuable compared to Dollar and some men and women here were alive back then. The only reason for that is because of the low denominations of Naira back then.

Do you think of the possible reasons why people kicked against proposed creation of 5000 naira note during Jonathan administration? I guess you did not really think about it most of us just kicked against because of the hatred we possessed for the man.

Well, If there are only lower denominations of Naira or there's not enough Naira notes, Naira would have been valuable just like Dollar that the highest is $100.

This thread was created because of one mumu meme I saw with the caption, "why do they collect tax when they can print more money". It's mumuish to be sincere . Don't believe in everything Lacasera dey papa tries to teach you.

Thanks.

One word, inflation... More money printed results to less value for the money this happened to Germany after the ww2 and they thought printing more will bring end to the destabilized economy they were wrong instead the currency became invaluable and one bread was sold for 30m dmark eventually UN intervened and gave them real money to get economy back on track

maticdamian:



One word, inflation... More money printed results to less value for the money this happened to Germany after the ww2 and they thought printing more will bring end to the destabilized economy they were wrong instead the currency became invaluable and one bread was sold for 30m dmark eventually UN intervened and gave them real money to get economy back on track

Exactly boss. Just as Zimbabwe currency is useless.

maticdamian:



One word, inflation... More money printed results to less value for the money this happened to Germany after the ww2 and they thought printing more will bring end to the destabilized economy they were wrong instead the currency became invaluable and one bread was sold for 30m dmark eventually UN intervened and gave them real money to get economy back on track

Zimbabwe is facing the same issue too. They had to abandon their local currency for the US dollar.

Geosystem:



Zimbabwe is facing the same issue too. They had to abandon their local currency for the US dollar.

That's why it's funny how Burna Boy tried to create his own currency then

maticdamian:



One word, inflation... More money printed results to less value for the money this happened to Germany after the ww2 and they thought printing more will bring end to the destabilized economy they were wrong instead the currency became invaluable and one bread was sold for 30m dmark eventually UN intervened and gave them real money to get economy back on track

Yeah, I can remember a popular story back then in Germany, about a woman who packed lots of money into her wheelbarrow to purchase a loaf of bread, when she got to the bakery, she entered to negotiate for the bread by the time she came out, her wheelbarrow was stolen and all the money was left on the floor...Lol. What a total destruction of wealth. But on a normal day currency are designed to go down in value but slowly. It goes down faster when a country is incompetent in improving the value of their currency. A Currency value is backed up by the people using it.

Shanklee:

That's why it's funny how Burna Boy tried to create his own currency then

Lol

narit:

Yeah, I can remember a popular story back then in Germany, about a woman who packed lots of money into her wheelbarrow to purchase a loaf of bread, when she got to the bakery, she entered to negotiate for the bread by the time she came out, her wheelbarrow was stolen and all the money was left on the floor...Lol. What a total destruction of wealth. But on a normal day currency are designed to go down in value but slowly. It goes down faster when a country is incompetent in improving the value of their currency. A Currency value is backed up by the people using it.

WTF

Think of it. If everyone is as rich as Bill Gate, no one would struggle to provide anything in exchange for money anymore. So you'll be left to consume or possess what you can produce.

Shanklee:
Think of it. If everyone is as rich as Bill Gate, no one would struggle to provide anything in exchange for money anymore. So you'll be left to consume or possess what you can produce.

In 1971, president Nixon took the gold standard off the dollar, from that moment money became a currency, it value was backed up by the trust of the people using it. The more it is used the valuable it becomes. Anyway, the reason for this was so that the United States will be able to print more dollars, and not to make people poor, the printing of more dollar enables a country to easily pays off its debt and it also boost a country economy. More money in an economy means more transaction and transaction is the sole factor that determines the prosperity of a country. But backed then money was turned into a currency because of the latter, as United States was not a debt country then, infact the highest creditor in the world. Ever since this changes happened, money is no longer money, and people who do not understand that are perishing. No matter how hard they work, they will always endup with nothing. What they are working for is a currency and a currency is design to go down to ZERO.

narit:

In 1971, president Nixon took the gold standard off the dollar, from that moment money became a currency, it value was backed up by the trust of the people using it. The more it is used the valuable it becomes. Anyway, the reason for this was so that the United States will be able to print more dollars, and not to make people poor, the printing of more dollar enables a country to easily pays off its debt and it also boost a country economy. More money in an economy means more transaction and transaction is the sole factor that determines the prosperity of a country. But backed then money was turned into a currency because of the latter, as United States was not a debt country then, infact the highest creditor in the world. Ever since this changes happened, money is no longer money, and people who do not understand that are perishing. No matter how hard they work, they will always endup with nothing. What they are working for is a currency and a currency is design to go down to ZERO.

Hmm

it would cause inflation and devaluation of naira..

The USA have printed money twice since the 2008 economic meltdown

@NARIT, you are more than right. uncle sam's $ is backed by faith and Nigerian naira is backed by uncle sam's doller.

The naira will continue to lose its value as far as the above continues. #HIDDENSECRETSOFMONEY

Hammyaladin:
@NARIT, you are more than right. uncle sam's $ is backed by faith and Nigerian naira is backed by uncle sam's doller.

The naira will continue to lose its value as far as the above continues. #HIDDENSECRETSOFMONEY

Would one one dollar still equal 380 naira if the highest amount of Naira in a single note is 20 or 50 naira?

the country will witness economy hardship, inflation and hunger rate will increase, to save country increase man power by provide job for people to do, security to protect their working labour and reliable environment to leave.

narit:

In 1971, president Nixon took the gold standard off the dollar, from that moment money became a currency, it value was backed up by the trust of the people using it. The more it is used the valuable it becomes. Anyway, the reason for this was so that the United States will be able to print more dollars, and not to make people poor, the printing of more dollar enables a country to easily pays off its debt and it also boost a country economy. More money in an economy means more transaction and transaction is the sole factor that determines the prosperity of a country. But backed then money was turned into a currency because of the latter, as United States was not a debt country then, infact the highest creditor in the world. Ever since this changes happened, money is no longer money, and people who do not understand that are perishing. No matter how hard they work, they will always endup with nothing. What they are working for is a currency and a currency is design to go down to ZERO.

how do someone stop working for currency?

Adasun:
how do someone stop working for currency?

A currency is coined from the word current (electricity), it is designed to move from asset to asset every seconds. To move from hands to hands and not to be hoarded. What I am simply trying to say is, it should work for you, you don't work for it.

narit:

A currency is coined from the word current (electricity), it is designed to move from asset to asset every seconds. To move from hands to hands and not to be hoarded. What I am simply trying to say is, it should work for you, you don't work for it.

wow! Thank u.




However,i have another question if u don't mind.

How do i generate currency bfor it start working for me.



Please open da vail to da money world,i just wanna learn and blow!

narit:

In 1971, president Nixon took the gold standard off the dollar, from that moment money became a currency, it value was backed up by the trust of the people using it. The more it is used the valuable it becomes. Anyway, the reason for this was so that the United States will be able to print more dollars, and not to make people poor, the printing of more dollar enables a country to easily pays off its debt and it also boost a country economy. More money in an economy means more transaction and transaction is the sole factor that determines the prosperity of a country. But backed then money was turned into a currency because of the latter, as United States was not a debt country then, infact the highest creditor in the world. Ever since this changes happened, money is no longer money, and people who do not understand that are perishing. No matter how hard they work, they will always endup with nothing. What they are working for is a currency and a currency is design to go down to ZERO.

You come across as a student of Robert kiyosaki. Financial intelligence through financial Education.

Geosystem:



You come across as a student of Robert kiyosaki. Financial intelligence through financial Education.

Don't understand you. Can you explain clearer?

narit:

In 1971, president Nixon took the gold standard off the dollar, from that moment money became a currency, it value was backed up by the trust of the people using it. The more it is used the valuable it becomes. Anyway, the reason for this was so that the United States will be able to print more dollars, and not to make people poor, the printing of more dollar enables a country to easily pays off its debt and it also boost a country economy. More money in an economy means more transaction and transaction is the sole factor that determines the prosperity of a country. But backed then money was turned into a currency because of the latter, as United States was not a debt country then, infact the highest creditor in the world. Ever since this changes happened, money is no longer money, and people who do not understand that are perishing. No matter how hard they work, they will always endup with nothing. What they are working for is a currency and a currency is design to go down to ZERO.

sense wan finish you

narit:

Don't understand you. Can you explain clearer?

What you wrote is exactly what Robert kiyosaki fervently preaches.

Shanklee:

Exactly boss. Just as Zimbabwe currency is useless.

Venezuela is worst

Adasun:
wow! Thank u.




However,i have another question if u don't mind.

How do i generate currency bfor it start working for me.



Please open da vail to da money world,i just wanna learn and blow!

Telling you how to generate currency sound presumptuous to me.Generating currency is not a hard thing, as long you make yourself valuable, you will always get paid according to your value. Over time in life the knowledge will accumulated increases our standard of living it called productivity growth. My point is time will come, when a person will start generating income according to the knowledge he or she has acquired in life. A doctor get paid for his knowledge, just as a lawyer or a mechanics , the more valuable your knowledge his the more the money you can receive. Someone who sweeps a building receive little money, because anyone can easily do that, there is not much knowledge required in sweeping a building, so their economic value is low and thus their reward will be low. So I will tell you, if you want to generate high income in life, do all you can to always improve your productivity growth. Because in the long run it is all that matters.

Shanklee:

Would one one dollar still equal 380 naira if the highest amount of Naira in a single note is 20 or 50 naira?

YES it will, if we dont divasify our economy. BUT iF we become more productive, n1o can= $1

NOTE: the value of currency lies in what a country has to offer to it self and the world, not necessarily the paper[fiat currency]

The USA is the only country in this world that can print more money to become richer.

Trex4:
The USA is the only country in this world that can print more money to become richer.

How? Why?

Shanklee:

How? Why?

simple. Because most of the commodities and services the world trades are priced in US dollars. If the USA want's to buy something, it would just print more dollars. Everything, including the phone you used to type, the oil you use in your cars and generators are priced in dollars.

Also note that there's an enormous demand for dollars worldwide and the US isn't even meeting the need.