@zoomafrika1
“Africa needs a single currency backed by its resources not different currencies backed by the $ Dollar” ~ Muhamal Gaddafi
[Image of Muhamal Gaddafi]
Source: https://x.com/zoomafrika1/status/1820697926123085915
@zoomafrika1
“Africa needs a single currency backed by its resources not different currencies backed by the $ Dollar” ~ Muhamal Gaddafi
[Image of Muhamal Gaddafi]
Source: https://x.com/zoomafrika1/status/1820697926123085915
Point stands:
What happens when lab diamonds are literally indistinguishable and cheap?
New gmo lumber grows in a fraction of the time?
New oil reserves found in place xyz? Etc etc
Tying to a resource just puts a bullseye on your whole currency model.
Because a country with 20% of the worlds land mass only has 3 resources…
You are a moron.
I only listed 3 you silly goose. There’s no way you thought my few sentence comment was a reflection of my knowledge of all products made in a country or region or continent.
Edit do you not know what etc means???
Edit edit when the US was on the gold standard, do you think I think they just made gold? Holy shit lmao
And I’m silly because I didn’t use etc when I listed 5 massive world used resources. Is this where I went so wrong in life?
Why would you or I be limited to a few example resources when discussing currency backing strategies?
Critical thinking makes it obvious the actual subject of the conversation is the differing strategy of fiat vs non fiat currency. From which I focused on the risk of a non fiat currency, if a global market moves unfavorably on whatever you pick.