NewStats: 3,261,791 , 8,175,160 topics. Date: Friday, 30 May 2025 at 02:41 PM 5b313

richmond500:
All I said was, u guys should it to the truth which was flashed on u like energy bulb, but instead of itting, u ignore it and stylishly derail and expected me to derail with u.
Whose patience was really dragged yesterday?

What truth did you flash and on who?? 😂... Abeg, no dey reason like Helinues, you appear to far sensible for that.

richmond500:
I am going to talk about this thread in my next comment with facts.
But can u bring proof to claim that u both agreed?

Bring proof say you be God? I am done indulging your irritating evasiveness. If you've got nothing to say, then keep mute.

It was obvious your aim yesterday was just to insult Peter Obi and get folks who you think are his "fans" to come to the same conclusion as you did.

phantom:


Drawbacks of Free-Floating Exchange Rates:

Exchange Rate Volatility: One of the most significant drawbacks of a free-floating system is the potential for exchange rate volatility. Currencies can experience rapid and unpredictable fluctuations, which can introduce uncertainty for businesses engaged in international trade and investment.
Currency Risk: The volatility of exchange rates introduces currency risk for businesses and investors.
Inflation -Through: Exchange rate fluctuations can lead to changes in import prices, which can impact domestic inflation. A significant depreciation of the currency can contribute to imported inflation and erode real purchasing power.
Loss of Exchange Rate as a Policy Tool: While countries gain monetary policy autonomy, they lose the ability to manage the exchange rate as a deliberate policy tool. This can limit the direct influence of exchange rates on trade and competitiveness.



Ogbeni Richmond... please look at number 1 above ... Read it and digest it.

Look... FLOATING A CURRENCY is a very dangerous economic policy that should be undertaken by very strong economies.. even at that such strong economies are always careful about floating their currency.

You think the US and UK , most especially the latter have not adopted very tight reforms to manage their currencies

You are talking about stability.. which stability? 😂..if not for anything, currency floatation renders your economy very UNSTABLE, PARTICULARLY for weak, non productive economies like ours.

Now let's talk about counter.
When I said a floating currency can absorb shock, I said when u float the currency it is susceptible to demand and supply and not external shock.
I made mentions of external shock.
In economics, a shock is an unpredictable change in exogenous factors, which are factors that are not explained by an economic model, we have COVID-19 which I made mentions of, natural disasters is also external shock.
So when u talk about currency volatility, that is within the purview of economics and has nothing to do with external shock.
Ur point should make more sense if u understood external shock.

phantom:


Bring proof say you be God? I am done indulging your irritating evasiveness. If you've got nothing to say, then keep mute.

It was obvious your aim yesterday was just to insult Peter Obi and get folks who you think are his "fans" to come to the same conclusion as you did.

u said u both agreed, I said bring proof and now u are asking me if I was God. Lolz

richmond500:
What the govt is doing is forceful stability which has caused devaluation thereby leading to lower purchasing power and currency depreciation.
Now when a currency is floating, it can adjust to shock from external influence.
What this means is that, our economy will grow when world economy is growing and we will not fall if there is a global catastrophe in world economy.
If our currency was floated all these while, COVID-19 wouldn't have affected us that much cos the economy would naturally adjust to the pressure.

phantom, this is what I said, global catastrophe like the pandemic is what economics termed as external shock.

phantom:


Bring proof say you be God? I am done indulging your irritating evasiveness. If you've got nothing to say, then keep mute.

It was obvious your aim yesterday was just to insult Peter Obi and get folks who you think are his "fans" to come to the same conclusion as you did.

Next time find a way to argue with Hell-Anus and vitalis and avoid me.

I have no interest explaining baby economics to a grown adult. Have a great week ahead.

richmond500:
Now let's talk about counter.
When I said a floating currency can absorb shock, I said when u float the currency it is susceptible to demand and supply and not external shock.
I made mentions of external shock.
In economics, a shock is an unpredictable change in exogenous factors, which are factors that are not explained by an economic model, we have COVID-19 which I made mentions of, natural disasters is also external shock.
So when u talk about currency volatility, that is within the purview of economics and has nothing to do with external shock.
Ur point should make more sense if u understood external shock.

Okay, so in actual fact what you are saying is that "economic stability" you mentioned is basically the ability of the economy to withstand "external shock" abi 😂.. just to be clear

phantom:


Okay, so in actual fact what you are saying is that "economic stability" you mentioned is basically the ability of the economy to withstand "external shock" abi 😂.. just to be clear

Jesus Christ, that is not what I meant, I'm sorry if that is how u understood it.

I said floating currency helps the economy to withstand external shock.

It's two different things bruh.
Are u purposely doing this just to drain me or u actually know nothing about this?

richmond500:
It's for stability

richmond500 post=132406616:
not stability of the currency but stability of the economy.
Guy abeg get more knowledge on this issue before u type cos e get somethings weh deh tiring to explain to a grown adult.

, they have over-explained this thing more than necessary, I wonder why some people are still asking the same question

What u should ask is when will the hardship end, cos we don tire.

😂 😂.. ogbeni, calm down... explain the bolded please. Your own words o! Not mine.

richmond500:
It's for stability, they have over-explained this thing more than necessary, I wonder why some people are still asking the same question

What u should ask is when will the hardship end, cos we don tire.

richmond500:
not stability of the currency but stability of the economy.
Guy abeg get more knowledge on this issue before u type cos e get somethings weh deh tiring to explain to a grown adult.

Explain the bolded pls. 😂

phantom:




😂 😂.. ogbeni, calm down... explain the bolded please. Your own words o! Not mine.

what I said was, floating the currency helps stabilize the economy, I stressed further and said in time of external shock.
What is there that u don't understand?

richmond500:
what I said was, floating the currency helps stabilize the economy, I stressed further and said in time of external shock.
What is there that u don't understand?

Very good... so I was correct initially.. that your definition of economic stability was in the context of if there was an "external shock" ba? 😂

phantom:







Explain the bolded pls. 😂

when u float the currency, u stabilize the economy against external shocks, the economy will not be pressured under external forces but will adjust.
On the other hand when u float the currency, the naira will vary and change to economic models.

phantom:


Very good... so I was correct initially.. that your definition of economic stability was in the context of if there was an "external shock" ba? 😂

economic stability is not all about external shock, it's like saying cleanliness is not all about brushing ur teeth.

So stop asking me to it what I didn't say

richmond500:
What the govt is doing is forceful stability which has caused devaluation thereby leading to lower purchasing power and currency depreciation.
Now when a currency is floating, it can adjust to shock from external influence.
What this means is that, our economy will grow when world economy is growing and we will not fall if there is a global catastrophe in world economy.
If our currency was floated all these while, COVID-19 wouldn't have affected us that much cos the economy would naturally adjust to the pressure.

Ogbeni, the above was your response to the question below.. SO IN EFFECT YOUR ANSWER OF ECONOMIC STABILITY WAS IN THE CONTEXT OF EXTERNAL SHOCKS

Kukutenla:

So how has the economy stabilised since the floating? It seems to have been on a free call instead
I'm seeking for knowledge that's why I'm asking what I don't know
I believe you quoted me because you saw a gap in my knowledge

Now, since you've decided to move the goal post with your answers, no wahala, i will happily oblige you.

I'm going to now ask you directly...HOW DOES THE FREE FLOATING of our currency HELP THE NIGERIAN ECONOMY? both short term, and long term.. feel free to "go to town" with your answer...

No mind me, I be olodo for the matter so please explain to me 😂

phantom:


Ogbeni, the above was your response to the question below.. SO IN EFFECT YOUR ANSWER OF ECONOMIC STABILITY WAS IN THE CONTEXT OF EXTERNAL SHOCKS

"Now when a currency is floating, it can adjust to shock from external influence".
That is what I said from the comment u quoted.
I never said the only way for our economy to be stabilized is through currency floatation. There are other factors and policies that play a major role, u are telling me to it that the only way to stabilize the economy is through currency floatation, which u know that isn't what I said.

I also made mentions of covid-19 in that comment, that is an example of external force outside economics. I wonder why u missed the whole point and fix-in something that wasn't there to begin with.

phantom:
Now, since you've decided to move the goal post with your answers, no wahala, i will happily oblige you.

I'm going to now ask you directly...HOW DOES THE FREE FLOATING of our currency HELP THE NIGERIAN ECONOMY? both short term, and long term.. feel free to "go to town" with your answer...

No mind me, I be olodo for the matter so please explain to me 😂

I did not shift goal post, I was pretty straightforward all these while, u are the one shifting goal post.

muykem:
Peter Obi doesn't have any economy knowledge. He is only capitalise on his followers ignorance. Borrowed to defend naira is what has been happening in the past that brought the country into his knees.

Very predictable as usual.

Obi offered an alternative economic approach to Tinubu's naira floating and gave reasons why he would've devalued the naira but in your uncritical thinking state, you call him unintelligent.

If you're as economically sound as you claim, why haven't you written in favour of Tinubu's approach instead of latching unto another paid propaganda to spew unintelligent gibberish?

More than a year after floating the naira, what benefits have we derived? Isn't that enough to make you think and consider other approaches?

Many economic experts have carpeted the Tinubu's istration for the ill thought floating of the naira but you and Mr Okwara will defend and even lick Tinubu a.. shame.

richmond500:
"Now when a currency is floating, it can adjust to shock from external influence".
That is what I said from the comment u quoted.
I never said the only way for our economy to be stabilized is through currency floatation. There are other factors and policies that play a major role, u are telling me to it that the only way to stabilize the economy is through currency floatation, which u know that isn't what I said.

I also made mentions of covid-19 in that comment, that is an example of external force outside economics. I wonder why u missed the whole point and fix-in something that wasn't there to begin with.

Nope! I NEVER said that was what you said. Now, you are the one trying to say what I didn't say. That guy asked you the benefit of floating our currency AND YOU MENTIONED ECONOMIC STABILITY in the context of an external shock.

Till now you've not said anything different. I've even asked you to answer the question again AND THIS TIME DONT LIMIT IT TO EXTERNAL SHOCKS. What other economic benefits are there for Nigeria in this currency floatation?

phantom:


Nope! I NEVER said that was what you said. Now, you are the one trying to say what I didn't say. That guy asked you the benefit of floating our currency AND YOU MENTIONED ECONOMIC STABILITY in the context of an external shock.

Till now you've not said anything different. I've even asked you to answer the question again AND THIS TIME DONT LIMIT IT TO EXTERNAL SHOCKS. What other economic benefits are there for Nigeria in this currency floatation?

.

I no get time to explain this, there are many benefits and it's not hidden to common sense.
If u want to know about the benefits, just go to Google and type "benefits of floating exchange rate"
U don already drain my energy like leech

richmond500:
.

I no get time to explain this, there are many benefits and it's not hidden to common sense.
If u want to know about the benefits, just go to Google and type "benefits of floating exchange rate"
U don already drain my energy like leech

O trust me! I know. Na you I dey ask to tell us the benefit of currency floatation TO NIGERIA and its specific circumstance. Leave Google! 😂

Google has no solutions for the Nigerian problem. Na you mention economic stability.. oya explain na.. wahala! 😂

Bro, if you really understand currency floatation and you understand the Nigerian problem, you'll see it offers us no advantage AT THIS POINT IN TIME. just leave the matter 😂

phantom:


O trust me! I know. Na you I dey ask to tell us the benefit of currency floatation TO NIGERIA and its specific circumstance. Leave Google! 😂

Google has no solutions for the Nigerian problem. Na you mention economic stability.. oya explain na.. wahala! 😂

if u know, then stop asking me questions that u know, I am avoiding another round of ur silly questions, u have already drained my energy.
I am too old to engage on a second fruitless expeditions.
There is no sense in asking question that u already know the answers to.

richmond500:
if u know, then stop asking me questions that u know, I am avoiding another round of ur silly questions, u have already drained my energy.
I am too old to engage on a second fruitless expeditions.
There is no sense in asking question that u already know the answers to.

Silly questions because you can't answer them 😂.. Next time don't jump into issues you are confused about. Doest tell well on you.

And by the way, if Nigeria was floating its currency during Covid 19, we would have been way worse than we were.. QED!


Have a nice Sunday Bro. 😂

phantom:


Silly questions because you can't answer them 😂.. Next time don't jump into issues you are confused about. Doest tell well on you.

And by the way, if Nigeria was floating its currency during Covid 19, we would have been way worse than we were.. QED!


Have a nice Sunday Bro. 😂

anyhow u see am, I no get strength to argue.
I am already angry that the weekend has finished, no come frustrate me more.

richmond500:
What the govt is doing is forceful stability which has caused devaluation thereby leading to lower purchasing power and currency depreciation.
Now when a currency is floating, it can adjust to shock from external influence.
What this means is that, our economy will grow when world economy is growing and we will not fall if there is a global catastrophe in world economy.
If our currency was floated all these while, COVID-19 wouldn't have affected us that much cos the economy would naturally adjust to the pressure.

So you're saying the govt lied and did not float the naira?
How does a floating currency make the economy grow

Godfullsam:


Naira has been floated

You are just here speaking unnecessary English.

Just tell us you don't understand the meaning of currency floatation.

Naira was simply devalued. Nothing like floating when CBN has 80% of the forex in the country. When ever the trend heads down they start giving Beureau De Chang 10,000 USD. Keep deceiving gullible peeps that you are floating naira on the moon.