baralatie:
Let me now explain what this means to everyone the stronger the roubles against the dollar
The cheaper the us oil and gas gets

Hashabiah:
Sapentia and his crew of capitalist pigs wouldn't want to see this o

baralatie:
Something is not adding up here!
Currencies don't perform this fast!

baralatie:

If a country says it wants to use it's currency as a medium of trade.it has its own effects
Nigerian and china did a test run of yuan naira and it crashed same thing with some yuan with other currencies.
Making a global exchange currency for global trade come with its own risks to the parent country.that is why nations with rather let the us dollar float.
Russian roubles is good in Russia but useless in naira. But if it has a dollar base (it can create a roubles account).
You get the politics and economic play.(As long as Russia has an euros or dollar account...it can use it's roubles)
But to say you want to disregards a global currency where you do not have structures .you will end up with economic concussion.
Two!that you produce 100% of your goods does not mean you source your raw materials 100%.for you to source your raw materials that nation will need to trade!Now if that nation economic growth is linked to it's size of economic activity(how much can that nation carry since it neither buys or sells beyond its borders).
Then there are some other stuffs that are inherent in an economy like what hit Japan and china

Nigeria does not need to float a naira against dollar to grow.
The naira needs to devalue against the dollar for the nation to grow
Two Nigeria has mirade of things to solve first
We have lack of sustainable power and pricing
We have multiple taxation
We have poor road infrastructure
And all.rhat

shogsman:
At this rate ruble will be more valuable than dollar in a year

Dvdpity:

Devalue naira when Nigeria is not a producing nation... you are mad

Ibrahimcoomasie:

In your wildest dream lying scum.

Ibrahimcoomasie:

In your wildest dream lying scum.

Teazer4:
they’re probably digging for another dead Russian top military personnel news . Most of my news today comes from their favorite Skynews.

baralatie:
Something is not adding up here!
Currencies don't perform this fast!

engrsyer:
Instead of our CBN governor to do something about strengthening our naira he's there talking about scabbing our naira notes. Who even do me this thing by bringing me into this Godforsaken country?

dapoRead:

When you are a producing NATION and you decided to use your currency as the main medium of exchange.
What that does is huge.

First of all: You become super competitive because your Goods are too cheap.
Secondly: The local economy of the people becomes stronger when they ditch out all the foreign goods and replace them with Locally made or even far cheaper ones (Chinese and Indian)

So it's a lot of things happening at the same time.

Nigeria is not producing NATIOn yet. (We do not have a steel industry so forget it for now, until we do)
Nigeria does not even have a light yet. (you all wonder why they killed Yaradua for trying to resuscitate Ajaokuta and Steel in exchange for building a gas pipeline to Europe. (A deal sabotaged by Niger delta, a kind of western proxy forces when needed to do the damage proof Nigeria is a vicious circle of failure to the people)


Nigeria needs a political will. That is all.

Subduer:

Don't you know that all Central Banks are SCAMMING their citizens, just as the dubious Federal Reserve Bank is SCAMMING Americans mercilessly.

Appleyard:


Do you even know that so.many simpletons think and believe the lie that the US government owe itself much of the huge debt?

Many people don't even know that the Federal Reserve is privately owned. The scamming is appalling.

Drenimarcus:


You mean the banks own all of America? And use the federal reserve as front?

Appleyard:


The Federal reserve is own by private interest, much of which are banks too. I did a piece on this here some years back. So many people don't really know what's happening in the global scheme of things.

Appleyard:

Yes, but this currency it's performing this fast because it created value for itself. How can one country be an economic power House but still relies on another's foreign currency to thrive? This brouhaha just reveals that every country on this Earth that has something to offer economically will have a stable and valued currency if it demands for the use of it's currency in the settlement for goods and services traded. It's simple. This is what make the dollar what it is today. Take that away and it would just be like every other currency.

baralatie:

I don't think you understand what is going on!
The Russia reserves in dollars ,euros is growing but it cannot spend it.
Therefore it roubles appreciate
You get the problem now
Guess what effect that would have

Appleyard:


The Russian reserve in Euro or dollars isn't growing in real cash, rather, it's shrinking because they no longer plan on holding much of it any way. Therefore, as the Ruble appreciate, is an added advantage since it's now central to Russia's foreign exchange for major commodities such as gas or and oil. If this trend continues, it would dent the Dollars global usage.

baralatie:

How is it shrinking!when it can Nott spend it because it is frozen!
But payment are been made into it

Appleyard:


Lmao. Payment are not being made into any of those accounts. Get your fact straight.

baralatie:

Why do you think Russia is pissed with some countries in europe