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

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.