SomaliNet Forums

You're right. I'm sorry Lamagoodle, that was very rude of me. I just think that is a very short-sighted policy and leads us down a very slippery road. I also get the distinct impression that Lamagoodle thinks that America is a force for good in the world, which put's his statements into further doubt...

afisoone wrote:US dollar is appreciating more last week. That means the demand of dollar increases in the market.
next week too........................................... That is all I know in the exchange rate..

I don't know why the demand of dollar is high when the economic is not improving that much..


can someone tell me about that...

Dollar is actually called petro dollar because oil is traded in dollar, so when oil is down the dollar goes through the roof no matter the american economy. Which is really weak right now, but thanks to robe wearing dhago cas the american economy will come back, and as long as oil prices stay low the demand for dollar will be high.

When oil is down dollar is up when dollar is down oil is up!!!!

So unless the oil market collapses (apocalypse) the petro dollar is a stable bet, cause as a trader all you have to do is follow crude oil prices to now where the dollars is heading unlike other currencies.

If it were up to me I would peg the Somali shilling to 50% Swiss Francs, 25% to Gold, 25% to the US dollar. That seems like a good strategy instead of completely relying on one thing.

swiss frank of today is not that of the past.
its another fiat currency.
and people usually peg their currency to their main trade partner; who trades with Switzerland?

as for gold and silver I am not really a gold bug but I appreciate its value.

gurey25 wrote:swiss frank of today is not that of the past.
its another fiat currency.
and people usually peg their currency to their main trade partner; who trades with Switzerland?

as for gold and silver I am not really a gold bug but I appreciate its value.

It's the best one out of the major currencies.

Japanese Yen sucks because of their demographics and debt issues.
British Pound and Euro are bad because of high debts, history of bad policies, and in the case of the Euro there is a high risk of the project failing.
Chinese Yuan is heavily manipulated by China and you can't trust them.
Russian Rouble is toilet paper.

Australian/Canadian/New Zealand dollars are too insignificant and volatile.

So you are basically stuck with the Swiss Franc as the best option out of the major currencies.

incognito1 wrote:

afisoone wrote:US dollar is appreciating more last week. That means the demand of dollar increases in the market.
next week too........................................... That is all I know in the exchange rate..

I don't know why the demand of dollar is high when the economic is not improving that much..


can someone tell me about that...

Dollar is actually called petro dollar because oil is traded in dollar, so when oil is down the dollar goes through the roof no matter the american economy. Which is really weak right now, but thanks to robe wearing dhago cas the american economy will come back, and as long as oil prices stay low the demand for dollar will be high.

When oil is down dollar is up when dollar is down oil is up!!!!

So unless the oil market collapses (apocalypse) the petro dollar is a stable bet, cause as a trader all you have to do is follow crude oil prices to now where the dollars is heading unlike other currencies.

Also when there is instability in the world, dollars flow back into the US as investments , because even if your economy is shit,
because the dollars is supreme and the US is a superpower and stable, investors have no choice really, they are easily spooked ,
even western europe is not safe enough...

so when the world is full of wars, terrorism, and crisis like the refugee crisis in europe,
the US will always benefit, because the investors will stampede there, its not their choice really, the US is literally the safest for them.

it does not even matter that the US is the source of the wars, terrorism and instability around the world in the first place.



but things are changing, the next 20 years will be really interesting.

Itrah wrote:

gurey25 wrote:swiss frank of today is not that of the past.
its another fiat currency.
and people usually peg their currency to their main trade partner; who trades with Switzerland?

as for gold and silver I am not really a gold bug but I appreciate its value.

It's the best one out of the major currencies.

Japanese Yen sucks because of their demographics and debt issues.
British Pound and Euro are bad because of high debts, history of bad policies, and in the case of the Euro there is a high risk of the project failing.
Chinese Yuan is heavily manipulated by China and you can't trust them.
Russian Rouble is toilet paper.

Australian/Canadian/New Zealand dollars are too insignificant and volatile.

So you are basically stuck with the Swiss Franc as the best option out of the major currencies.

i see what you mean but are there enough swiss francs out there? it is a small economy after all and allot smaller than australia or canada.
but remember that the dollar is still the reserve currency of the world, the swiss frank cannot buy you oil, yet..
you will always need dollars more than franks,

gurey25 wrote:i see what you mean but are there enough swiss francs out there? it is a small economy after all and allot smaller than australia or canada.
but remember that the dollar is still the reserve currency of the world, the swiss frank cannot buy you oil, yet..
you will always need dollars more than franks,

It is the 5th or 6th most traded currency in the World and trillions of foreign wealth is stored in CHF denominated products.

There's more than enough around for a tiny economy like Somalia to have it peg it to the CHF. It would only be problematic if a big economy like India did it, but Somalia can easily do it.

No thanks. I prefer to be autonomous from the machinations and monetary manipulations of another nation - even if in the short term it is less advantageous.

LiquidHYDROGEN wrote:No thanks. I prefer to be autonomous from the machinations and monetary manipulations of another nation - even if in the short term it is less advantageous.

You can't trust Zoomalis to run good monetary policy.

Better leave it in the hands of advanced nations.

Itrah wrote:

LiquidHYDROGEN wrote:No thanks. I prefer to be autonomous from the machinations and monetary manipulations of another nation - even if in the short term it is less advantageous.

You can't trust Zoomalis to run good monetary policy.

Better leave it in the hands of advanced nations.

Yeah because advanced nations have your best interest at heart. Also if monetary policy was so easy for them, their economies wouldn't be in crisis every decade.

Stop with the self-hate ninyahow.

LiquidHYDROGEN wrote:Yeah because advanced nations have your best interest at heart. Also if monetary policy was so easy for them, their economies wouldn't be in crisis every decade.

Their crises are mostly debt issues and not necessarily a monetary one. Somalia won't be able to borrow too much like they do, so that issue won't arise in a hypothetical peg situation.

LiquidHYDROGEN wrote: Stop with the self-hate ninyahow.

Look at all the other African currencies, every single one of them is utter shit. Even the South African Rand has major issues. ''Self-hate'' in this case is purely logical.

Gold dinar should be our currency or AU currency led by nigeria.

Itrah wrote:

LiquidHYDROGEN wrote:Yeah because advanced nations have your best interest at heart. Also if monetary policy was so easy for them, their economies wouldn't be in crisis every decade.

Their crises are mostly debt issues and not necessarily a monetary one. Somalia won't be able to borrow too much like they do, so that issue won't arise in a hypothetical peg situation.

Still indicates unsustainable and bad financial policy. The reason most of these countries are allowed to default or incur more debt is because they write all the rules. But sooner or later it will explode in their faces.

Itrah wrote:

LiquidHYDROGEN wrote: Stop with the self-hate ninyahow.

Look at all the other African currencies, every single one of them is utter shit. Even the South African Rand has major issues. ''Self-hate'' in this case is purely logical.

Self-hate is not logical, rather the opposite. The logical conclusion would be to fix the currency issue not bemoan about self-perceived racial inferiority. Nothing sadder than someone who sees themselves as inherently inferior to someone else.

gurey25 wrote:

incognito1 wrote:

afisoone wrote:US dollar is appreciating more last week. That means the demand of dollar increases in the market.
next week too........................................... That is all I know in the exchange rate..

I don't know why the demand of dollar is high when the economic is not improving that much..


can someone tell me about that...

Dollar is actually called petro dollar because oil is traded in dollar, so when oil is down the dollar goes through the roof no matter the american economy. Which is really weak right now, but thanks to robe wearing dhago cas the american economy will come back, and as long as oil prices stay low the demand for dollar will be high.

When oil is down dollar is up when dollar is down oil is up!!!!

So unless the oil market collapses (apocalypse) the petro dollar is a stable bet, cause as a trader all you have to do is follow crude oil prices to now where the dollars is heading unlike other currencies.

Also when there is instability in the world, dollars flow back into the US as investments , because even if your economy is shit,
because the dollars is supreme and the US is a superpower and stable, investors have no choice really, they are easily spooked ,
even western europe is not safe enough...

so when the world is full of wars, terrorism, and crisis like the refugee crisis in europe,
the US will always benefit, because the investors will stampede there, its not their choice really, the US is literally the safest for them.

it does not even matter that the US is the source of the wars, terrorism and instability around the world in the first place.



but things are changing, the next 20 years will be really interesting.

So true brother