In 2021, 2022, 2023, This Question used to be one of the Most Frequently Asked on nairaland. 🙂

2024, Nobody has created any Thread on this. 🤨

What's Happening this Year?

It's because Saving is a scam...same as YOUR monthly salary, ajo contribution and kolo box...all financial scam you inflict upon yourself unknowingly

Inflation is eating your money because MONEY was created out of thin air by Central Banks.

It's backed by nothing except an official decree...that's why it's called a FIAT currency

That's what you work your whole life for and spend hours in mindless traffic for: something that was created out of thin air by Central Banks and multiplied by commercial banks like UBA, GTB, Access Kuda OPAY etc


That's why I have the biggest laugh when I see forex traders trade using supply and demand and rsi and MACD and other indicatiors that don't work in these financial markets.

Supply AND demand works WHEN THE QUANTITY of the commodity IS LIMITED!!
money is not limited. It is multiplied by fractional reserve banking and manipulation of interest rates by commercial and Central Banks respectively

That's why your salary and Ajo Contribution and Kolo savings is a scam...one of the BIGGEST in the financial world.


Your money is losing value everyday and you're saving it in banks and kolo ... saving it for what exactly
For it to lose more value huh

bag of cement was #3500 before...now it's 7k plus. Imagine saving to buy cement and complete your house in the village... only to wake up and see that cement price has increased

This is what happens to ALL GOODS IN the markets...it's just that it happens slowly...that's why you don't notice and are comfortable supporting the financial scam without knowing



Your deposited money in the banks is multiplied and given back to you as loans...and you still have to pay interest and collateral on top your own money o


https://www.nairaland.com/8080394/nigerias-inflation-what-uba-gtbopay


And the newly created money steals value from the old money if production of local goods doesn't match the new money

That's why foodstuffs prices are rising and Increasing minimum wage is a scam

https://www.nairaland.com/8107351/nigerias-govt-alternative-minimum-wage


Food prices isn't rising. THE PRICE OF MONEY IS GOING DOWN


now you know...

https://www.nairaland.com/8125459/world-central-banks-hidden-truth

IAmHim1:
Saving is a scam

Inflation is eating your money because MONEY was created out of thin air by Central Banks.

It's backed by nothing except an official decree...that's why it's called a fiat currency

That's what you work your whole life for and spend hours in mindless traffic for: something that was created out of thin air by Central Banks and multiplied by commercial banks like UBA, GTB, Access Kuda etc


That's why I have the biggest laugh when I see forex traders trade using supply and demand and rsi and MACD and other indicatiors that don't work in these financial markets.

Supply AND demand works WHEN THE QUANTITY of the commodity IS LIMITED!!
money is not limited. It is multiplied by fractional reserve banking and manipulation of interest rates by commercial and Central Banks respectively

That's why your salary and Ajo Contribution and Kolo savings is a scam...one of the BIGGEST in the financial world.


Your money is losing value everyday and you're saving it in banks and kolo ... saving it for what exactly
For it to lose more value huh

Your deposited money in the banks is multiplied and given back to you as loans...and you still have to pay interest and collateral on top your own money o


https://www.nairaland.com/8080394/nigerias-inflation-what-uba-gtbopay


And the newly created money steals value from the old money if production of local goods doesn't match the new money

That's why foodstuffs prices are rising and Increasing minimum wage is a scam

https://www.nairaland.com/8107351/nigerias-govt-alternative-minimum-wage


Food prices isn't rising. THE PRICE OF MONEY IS GOING DOWN


now you know...

https://www.nairaland.com/8125459/world-central-banks-hidden-truth

Ur Points are well noted.

I am reminding Peeps on this Forum how this 'How much have you saved' Question used to Pop every Single year.

But this Year, We no see an Again.

Exactly Vinnie2000!

Everyone is waking up... hopefully

I really hope they have woken up to know what's really really going on in the financial World

Nigerians are hoarding dollars
But guess what?

AMERICANS DON'T SAVE IN DOLLARS!!

how's that's for a shocker!!

Vinnie2000:


Ur Points are well noted.

I am reminding Peeps on this Forum how this 'How much have you saved' Question used to Pop every Single year.

But this Year, We no see an Again.

Is it even wise to save again?
₦10m in your account early last year is now worth less than ₦5m because of high inflation.

Those emergency financial advisers up there are just busy spilling trashs, they talk as if Americans dont have a dime in their respective accounts.
Saving is never a crime, the volume to be saved is what matters. The developed countries definately encourages investment cos they know that every investment creates job opportunities but that still doesn't stop one from having a fraction of cash available for immediate or future spending. The developed countries has their access to credit cards to which they can even have an overdraft in their spending but same isn't applicable to Nigeria, here we need to have that cash savings.

Its better to find something profitable to invest in than saving in naira.Saving in naira is risky.

Na mumu dey save