Should Sh/Shariif be printing money

[gobdoon]

That is the Headline that hits my eyes on Hiiranonline this morning , and I ask myself should this be happening , is this the time and the place or is it suppose to be his job description , considering the TFG adminstration has one month left , I am also feeling for the population the problems this could cause inflation and everything as We have seen last 21 years every time money is printed abroad and brought in the country the devastation it causes , I also read some where before that the Sharif is printing money in Sudan in order to boost and fund his so called reelection surely you should be putting your mind to the country and people before your personal gains.

[TheblueNwhite]

He's the head of the state which means he can pretty much do whatever tickles his fancy.

[Lamagoodle]

That is the Headline that hits my eyes on Hiiranonline this morning , and I ask myself should this be happening , is this the time and the place or is it suppose to be his job description , considering the TFG adminstration has one month left , I am also feeling for the population the problems this could cause inflation and everything as We have seen last 21 years every time money is printed abroad and brought in the country the devastation it causes , I also read some where before that the Sharif is printing money in Sudan in order to boost and fund his so called reelection surely you should be putting your mind to the country and people before your personal gains.

The headline read that Sh Shariif visited a printing press. It did not say he is printing money.

From a purely economic perspective, the dollar rate against the somali shilling is the cost of printing. Economists love the somali model because there is no forgery and because anyone who prints the somali shillings will have to incur costs that are matched by the price ; equilibirium; no winners no losers.

Read this piece by the economist a few weeks ago

http://www.economist.com/node/21551492

[gobdoon]

Don't believe what you read on the paper , so what do you say we print more worthless paper money.

[Advo]

Is shiek shariff that confident in winning a second term? printing money when his post is up for reelection in just a month?

the system must be rigged in his favor.

[Lamagoodle]

Don't believe what you read on the paper , so what do you say we print more worthless paper money.

Gobdoon, beleive me on this one saaxib.

There is nothing called "worthless" money. The value of any paper currency is the costs of its production. As long as there are costs involved it has value.

P.s. currency=trust

[eliteSomali]

He's the head of the state which means he can pretty much do whatever tickles his fancy.

nah nigga. it ain't about him. It's about the people. keep that in mind son. Besides, somalia has no centralized government that has authority over all somali...lands. so who will he be making the money for? Xamar? it isn't the right time yet.

[Thuganomics]

Economists love the somali model because there is no forgery and because anyone who prints the somali shillings will have to incur costs that are matched by the price ; equilibirium;

That's nice and at the same time horrendous situation to be in
Kind of reflects the Somali schizophrenic character

[Cirwaaq]

Economists love the somali model because there is no forgery and because anyone who prints the somali shillings will have to incur costs that are matched by the price ; equilibirium;

That's nice and at the same time horrendous situation to be in
Kind of reflects the Somali schizophrenic character

In a world where the majority are schizophrenic it is the Sane person that needs to be Hospitalised for their own safety!

[Lamagoodle]

Economists love the somali model because there is no forgery and because anyone who prints the somali shillings will have to incur costs that are matched by the price ; equilibirium;

That's nice and at the same time horrendous situation to be in
Kind of reflects the Somali schizophrenic character

Not really my friend. The somali economy is a textbook example of an economy with little interference. Neo-classical economists see it as a case study; there has been growth and entrepreneurship is flourishing.

Governments are a pain in the ass according to this utopian view; taxes, regulations, etc

The currency issue is pure maths; if the price of the dollar against the somali currency is set at the cost of producing it, forgers will not be tempted to print it.

[AbdiWahab252]

Lamagodle,

Good points. I do believe there needs to be another look at the fiat currency. I am of the school of thought that there needs to be a bigger denomination 2,000, 5,000, 10,000 and 20,000 notes.

But before any currency should be printed, there needs to be a solid central bank in place NOT Dahabshiil