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Nairaland Forum / Nairaland / General / Business / Why Can't A Country Just Keep Printing Money And Become Rich (50986 Views)
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Why Can't A Country Just Keep Printing Money And Become Rich by Georgry(m): 10:11am On Jun 01, 2016 |
Hello Nairalanders.... Knowing fully that a country have the right to print money as much as they desire,and their is no limit to the quantity of money a country can print, this question comes to my mind: Why can't a country just keep printing money to the stage that it will be enough for every body in the country to be rich... Economist in the house your explanation is needed here..... 58 Likes 8 Shares
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Re: Why Can't A Country Just Keep Printing Money And Become Rich by theEYe21(f): 10:14am On Jun 01, 2016 |
See this olodo! ![]() Georgry: 84 Likes 8 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by solid3(m): 10:15am On Jun 01, 2016 |
An average Zimbabweian is a trillionaire, does that make them rich. Inflation will only be driven up, you will have too much money chasing few goods. 218 Likes 12 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Nobody: 10:17am On Jun 01, 2016 |
You have to take course in Economics to know why. 61 Likes 4 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Davinex(m): 10:18am On Jun 01, 2016 |
Inflation will be on the rise and the currency will lose it value. 65 Likes |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by mrvitalis(m): 10:31am On Jun 01, 2016 |
solid3:What if the money is printed and given to people as loan to start up production of things that can be exported?? 30 Likes 2 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by coolzeal(m): 10:31am On Jun 01, 2016 |
Monetizing the debt is what we call it when governments try to print money to pay their debt. This doesn't work because of the effect monetization has on inflation. As they print more money, each issue becomes less valuable. 24 Likes 4 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Nobody: 10:32am On Jun 01, 2016 |
Georgry:that's because,the money will become more useless and valueless than the naira 17 Likes |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Pheals(f): 10:39am On Jun 01, 2016 |
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Re: Why Can't A Country Just Keep Printing Money And Become Rich by Trendy247: 10:45am On Jun 01, 2016 |
I will like to work in d printing room for just 1 week without pay.. Modified: I believe if I keep the over printed bundles in my possession, it won't cause inflation ![]() 143 Likes 6 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by ckmayoca: 10:54am On Jun 01, 2016 |
Op if u r a farmer and suddenly u jam plenty money, will u farm again? I bet no. So what will happen to the ppl that buys the food from u? Same wit doc, hair dresser, lecturers etc non of em will waanna work again. 168 Likes 10 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by fiizznation: 11:17am On Jun 01, 2016 |
Georgry:The simple answer is inflation. The currency notes that we use don't have any intrinsic value, rather the have exchange value. Which means 50naira doesn't mean its value is 50naira but you can exchange it for goods and services. A country like Zimbabwe couldn't understand this simple economics and they went ahead to produce more and more currencies, at the end what still happened? Well even a pen ended up costing thousands of Zimbabwe dollars and a bread was sold for as high as $2million{Zimbabwe dollars}. Their inflation rate rise to about 80 billion percent. Funny. And everybody in Zimbabwe instantly became a billionaire{ poor billionaires} 307 Likes 28 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by gebest: 11:19am On Jun 01, 2016 |
op op well dat can be done if we have everything in our disposal, in otherwords exportation alone no more importation, the planes, the cupters, cars, ship, weapons, all the merchines, engines, electronics, generators etc will b produced here in nigeria, then that can be done. 5 Likes 1 Share |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Lvlink(f): 11:37am On Jun 01, 2016 |
gebest: ![]() ![]() ![]() i will like to work in that Business Center. I don't mind doing the manual jobs there. ![]() ![]() |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Noneroone(m): 11:45am On Jun 01, 2016 |
Op you have a cheque book why cant you become rich by writing out cheque of just any amount you want 7 Likes 1 Share |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Hisduchess(f): 12:17pm On Jun 01, 2016 |
fiizznation:buh can't I take the money angry travel to another country to spend it when it has been changed.sorry pls explain to me I hated economics during my secondary school days thus I went for sciences. thanks in advancr 11 Likes 2 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by olafum1(m): 12:17pm On Jun 01, 2016 |
fiizznation: ![]() ![]() ![]() ![]() ![]() ![]() 6 Likes |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by tsdarkside(m): 12:19pm On Jun 01, 2016 |
hahahahahaha.....you are clueless...america is already doing it!!......what you think..??.... ![]() ![]() ![]() 1 Like 1 Share |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Metallurgist: 12:24pm On Jun 01, 2016 |
one of the characteristics of money is SCARCITY, both air and water are the most important things to a human but being found abundantly in nature reduces their value, this simple analogy suffices to show you that the more available money became the less valuable it is. 27 Likes 2 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Arijude(m): 12:27pm On Jun 01, 2016 |
He just asked a question 13 Likes 2 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by sweetestever(f): 12:29pm On Jun 01, 2016 |
i wonder oooo 2 Likes 1 Share |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Arijude(m): 12:31pm On Jun 01, 2016 |
theEYe21:He just asked a question 78 Likes 3 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by fiizznation: 12:38pm On Jun 01, 2016 |
Hisduchess:lolx. You want to play smart right? Well you can't angrily take a valueless money to another man's country and spend it at your own satisfaction. Let's say, if a Zimbabwean brings his $4billion{Zimbabwe dollars} to Nigeria for the sole purpose of spending the money here. At the of the day, he might just be able to buy one plate of food with his $4billion in Nigeria and that's if he is even lucky 75 Likes 7 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Hisduchess(f): 12:41pm On Jun 01, 2016 |
fiizznation: lol.no mind d angry part nah typo error.buh don't they have an exchange rate? 4 Likes |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by PentiumPro(f): 12:41pm On Jun 01, 2016 |
Georgry: You write very good English but yet very deficient in basic economics 11 Likes 2 Shares |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by suyamasta(m): 12:42pm On Jun 01, 2016 |
Georgry:This can be done in a targetted manner! the cost of printing money is lesser than the value of money, the only problem is the fear of inflation! For example the government can print 1 trillion naira and specifically direct that amount towards payment of salaries and loans to productive sectors! in so doing money is paid for work done! thereby stimulating productivity! So its a good economic practice if properly done! US did something similar and the ECB is doing something similar as well! So if Baba Emefiele and co can do something similar with an excellent approach then unemployment can be drastically reduced! 9 Likes 1 Share |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by OgbeniAnonymous: 12:44pm On Jun 01, 2016 |
Georgry:So u think the materials for printing money are free? guy reason well ooo. 2 Likes 1 Share |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Nobody: 12:46pm On Jun 01, 2016 |
Georgry:There is always a limit to the amount of money a country can print....else the volume of money in circulation will be too much. 4 Likes |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by PentiumPro(f): 12:50pm On Jun 01, 2016 |
suyamasta: The paper we call money is just mere paper uses to exchange for good and services. It suppose to represent basically your own contribution to the wealth of the country. Printing paper money without corresponding wealth increase is courting disaster, inflation and exchage rate against major world currencies will go through the roof. 5 Likes |
Re: Why Can't A Country Just Keep Printing Money And Become Rich by Lilimax(f): 12:51pm On Jun 01, 2016 |
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Re: Why Can't A Country Just Keep Printing Money And Become Rich by saasala(m): 12:51pm On Jun 01, 2016 |
lol 1 Like |
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