2mercy:


https://pmnewsnigeria.com/2022/03/11/wealthy-people-with-n1bn-worth-but-owing-banks-n10bn-are-stupid-oyedepo/

FalseProphet1:
Daddy Oyedepo is absolutely right.

If you subtract all the loans dangote is owing various banks both locally and international from his networth, dangote won't even make it to 1st 100 richest people in Africa.

This I have seen.

tempest01:
This isn't a wise take from Pst Oyedepo.

In order to create wealth, you need capital.

In his area of operation there is a multitude who directly and indirectly contribute to their capital. Ordinary business people don't have that.

They need to source for capital with debt. As long as their debt to equity ratio is kept healthy, you can take that risk, take that debt and invest wisely .

Those that are not wise are those with no investments and living on stolen money still taking on Loans.

Ideally you should take loans to expand on an already working enterprise that can service the loan.

2mercy:


https://pmnewsnigeria.com/2022/03/11/wealthy-people-with-n1bn-worth-but-owing-banks-n10bn-are-stupid-oyedepo/

Lucas4903:


Because your pastors say so doesn’t mean it’s right. That’s business. Assets and equity and all that. Yet Dangote is making a difference and touching lives. U are concerned about his business equity which will take care of itself.

Where is religion actually going to lead Africans I just don’t know.

skj1377:
Am not poor Oga. Businesses can go both ways

DamnnNiggarr:
I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

BluntTheApostle:


This man is always on about money, money, money.

He worships money so much. Always analyzing it like an economist.

DEMZEE:


ONLY A FOOL WONT UNDERSTAND THAT THE CURRENT MODERN MONETARY SYSTEM IS RUN ON DEBT

PAPER MONEY (CURRENCY) IS BACKED BY DEBT

THEY PRINT PAPER MONEY FROM NOTHING

THERE'S GOOD AND BAD DEBTy

ECONOMICS 001 FOR FVCKS SAKE

Flaxxo01:

That's a very smart man ooo and he flex the money well

Tonytonex:
in other way, you mean you are wiser and more righteous than Oyedepo?

Johnboom:
You don't understand simple Economics, Nigeria is the owner of Naira, how come they don't print it , convert it to Dollar and pay her debit.

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

huptin:


You are correct, but if your currency happens to be the currency every other currency is benchmarked against, you can actually rig the system, because you have both the knife and the yam, has the US been doing this? Ask yourself.

If Nigeria borrows dollars from the US it has to pay back at a certain period but if the US asks his own central bank to simply print more dollars and count it as debt for it, does the US have to pay back, at what interest? Over what period?

Basheer22:


Oyedepo built his wealth from tithes and offerings of church members. He's a smart person 7 who knows what to invest in and then uses the funds donated to a registered charity to invest in his own name. He tried it in the UK and was almost jailed. He was banned from the UK for a while because of this.

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

Amotolongbo:
Hmmm

Now I understand the difference between a man who borrowed loans from bank to finance his project and another one who depends on other people’s gift and offering to finance his project.
one is a risk taker while the other is an opportunist

Dangote’s worth is $14billion while the cost of Dangote’s refinery is about $19billion.

SSpeter:
Brother, the guy you quoted was trying to explain something to you, but you were eager to display your basic economic skills. The US debt is in USD. Their central bank don't function like ours that is why theirs is a reserve bank. The US can print and repay their debts. When the govt buys Tbills from you, at maturity, they can choose to either request for more TBills to pay the matured ones or print more money if there isn't enough cash in the system. That is why they tell you that a government can never default in its debt in its currency....cos it has the power to print notes.

DamnnNiggarr:


Just like USA with a GDP worth of $24 trillion(2021 estimate) but has a gross external debt of over $21 trillion.

Imagine a country that has annual expenditure of $7 trillion but with annual revenue of $3.4 trillion.

If not that Nigeria's government is not transparent, Nigeria would've been one of the richest country in the world with an annual expenditure of $30 billion and annual revenue of over $50 billion.


I'm not too good in economics but with the knowledge I got in eco101, 102, I can unequivocally tell you that Printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods, but if firms have still the same amount of goods, they will respond by putting up prices. In a simplified model, printing money will just cause inflation.

*Suppose an economy produces $10 million worth of goods; e.g. 1 million books at $10 each. At this time the money supply will be $10 million.

*If the government doubled the money supply, we would still have 1 million books, but people have more money. Demand for books would rise, and in response to higher demand, firms would push up prices.

*The most likely scenario is that if the money supply were doubled, we would have 1 million books sold at $20. The economy is now worth $20 million rather than $10 million. But, the number of goods is exactly the same.

*We can say that the increase in GDP is a money illusion. – True you have more money, but if everything is more expensive, you are not any better off.

*In this simple model, printing more money has made goods more expensive, but hasn’t changed the quantity of goods.

So Mr huptin, why can't Nigeria just print ₦aira to tackle Nigeria's economic mess? Nah! It doesn't work that way.
If only 20 bags of rice is produced in your location, assuming only only 5 people are able to purchase a bag at say 20k out of 100 person's due to lack of money and the government decides to print more money to be in circulation in the economy, and about 50 person's now have cash, now what will happen is that, more people now have cash and it's still 20 bags of rice that is being produced which will lead to high demand for a bag of rice.
Do you know what the producers will do? They will respond by doubling the price of a bag of rice.
I hope it's clear now.

huptin:


You are correct, but if your currency happens to be the currency every other currency is benchmarked against, you can actually rig the system, because you have both the knife and the yam, has the US been doing this? Ask yourself.

If Nigeria borrows dollars from the US it has to pay back at a certain period but if the US asks his own central bank to simply print more dollars and count it as debt for it, does the US have to pay back, at what interest? Over what period?

huptin:


Not if you are the owner of the currency that all other currencies are benchmarked against. Think about this, the dollars is the main currency that every other currency is benchmarked against.

So the value of other currencies is benchmarked against the dollars. If the US prints more currency, it calls it debt, because currency printing is actually not a good way of generating revenue, but does the US ever pay back the currency it prints, No almost never and it doesn't have to, it is his own currency, because your own currency is benchmarked against the dollars even the recklessness of the US will affect you.