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The Escalating Calamity Of Dollar Increases Against The Naira/cedis - Politics - Nairaland

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The Escalating Calamity Of Dollar Increases Against The Naira/cedis by NoLotty7(m): 9:45pm On Mar 17, 2022
The future of an Africa's children are in danger as virtually every commodities in the markets continue to increases in prices day by day with salary being constant or little to nothing increments in proportion to the economy.

Today a dollar is N416.20 while the cedis is Ghc7.60 to Ghc8.12 in black market.
The dollar not an Africa currency but due to exchange of commodities, foreigners exchange reserves by using the dollar as a medium of exchange has become a nightmares in determine how our indigenous currency should operate by dictating or determining the market value of our local goods and services render in this various countries in Africa contrary as across the globe.
Unless,the governments of these sovereign countries in Africa wake up from their sluggishness, corruptions, and self center, Africa as a continent will forever remain a menace before the rest of the world.
Hence, the question,what or how can you as an individual beat the economy due to constant inflation in next three (3) to four (4) years to come?

Please, forgive my writing skill and errors.

Re: The Escalating Calamity Of Dollar Increases Against The Naira/cedis by atheistandproud(m): 7:11am On Mar 18, 2022
Ever heard of the petrodollar? That should be a fun topic for you to research.

Now even if we had a leader that wanted to get rid of a foreign imposed currency restriction... they won't succeed. Why?

Lemme show you a good example.

Backstory
Henry Kissinger on behalf of Richard Nixon flew to Saudi Arabia to strike a deal with the King of the country. If they agree to sell oil in dollars and convince other OPEC members to do the same, the full force of the US military (Army, Navy, Air force) will protect them.

So it has been. Everyone now sold oil in dollars and thus it became the reserve currency and standard for conversions the world over.

Example 1
In 2003, Saddam Hussein tried to sell oil in Euros rather than in dollars. His plan was to weaken the US financially. Guess what?

George Bush lied that he (Saddam) had weapons of mass destruction. NATO bombed Iraq to hell. 1 million Iraqis dead. Saddam Hussein was hanged. Why? To protect the petrodollar.

Example 2
In the mid 2010s, Muamar Gaddafi, leader of oil rich Libya wanted to create a new pan African currency for Africa. He was going to back this currency himself from his Gold bullion in his coffers.

This was designed to free Africans from the the crushing weight of the petrodollar. He had gotten most African leaders to sign and was ready to start printing.

What happened next? NATO bombed Libya to hell. Several hundred thousand Libyans dead and Gaddafi himself was shot with his sons.

If you cannot see that America is evil, then there's trouble. No leader will stand up to face the US military.

If Buhari dares today, to sell the oil in Naira or Yuan, there's a US warship on Fernando Po Island, not far from Wilberforce Island, Bayelsa state. NATO will bomb Nigeria to pieces.

Possible Example 3
This is what Russia is fighting. Russia and China want to trade oil in Yuan or Rubles. This is why Ukraine is key to NATO. Ukraine opens the road to Moscow.

So if Russia threatens the US dollar, NATO will bomb them. Putin knows this, so he'll make sure that Ukraine stays closed to the EU and NATO.

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