this post was submitted on 06 Aug 2024
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"Africa needs a single currency backed by its resources not different currencies backed by the $ Dollar" ~ Muhamal Gaddafi (lemmy.world)
submitted 6 months ago by jimmydoreisalefty to c/onlytwitter
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@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

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[–] [email protected] 2 points 6 months ago* (last edited 6 months ago) (1 children)

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

[–] [email protected] 0 points 6 months ago* (last edited 6 months ago) (1 children)

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?

[–] [email protected] 2 points 6 months ago

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.