KES FIAT karatas…will soon be just that…karatas…so will many other currencies…until watu waelewe what money is…
Currency exchange rates are based on voodoo…papers not backed by any real asset…
Devaluing your fiat currency…how now? (Printing more karatas) just transfers wealth to those with stronger currency…bazungu akija na ndorrah kadhaa ananunua wasee wote na Kila kitu wanayo…economists kama CBK Njuguna trained (more like hypnotized) in Keynesian Voodoo e.comics…don’t understand that… weakening your currency makes your resources and labor cheaper…Federal reserve (greatest Ponzi Scheme ever) now has to print less papers ndorrah for your resources…not that it matters to them
Case in point…when west Africans used glass beads as money…as glass beads were rare in that part of the world then…bazungu just went to Europe…made a shit load of glass beads…and bought slaves for free…as he continues to do with the ndorrah
KES are glass beads that is useless karatas…if you had 50 millions in KES in paper money…utalala njaa kama uko Tokyo or anywhere else not in Kenya…worthless karatas as it is based on nonsense not tradable for any real asset…ata mandazi
As the ndorrah rapidly inflates…real economists know that the ndorrah is a global ponzi scheme…and it’s a matter of when not if…collapse happens and KES and other useless FIAT currencies that rely on it…will be swallowed into the blackhole
Why do you think Jicho Nyanya huficha Mali na Pandora…he and his fam wanajua KES ni karatas ya mkoloni kudanganya mafala
Njoroge should not listen to them. Aendelee kuprotect the integrity of the shilling. Akiiwachilia fwaa, many people would suffer. I support Njoroge fully. Dollars must be rationed.
You just explained it so well but utapata ngamia zingine bado zinataka kukupinga. I once wrote a satirical thread about someone writing zeros in the world financial system and scamming everyone else and was laughed out of town by bonobos who didn’t understand anything I wrote. Ona sasa.
What all of you crying out loud here bashing CBK governor who has ZERO powers. He is just a puppet of the US/UK who in turn are owned by NASTY GREEDY JEWS. IMF/WorlBank call the shots and they can devalue or strengthen your currency at will.
If African currencies become too strong this world would be unlivable because we are the primary source of RAW materials and have no industries to convert from raw to finished product.
If DRC francs were to be exchanged for 1 Franc = 1 Dollar your Samsung or HP phone and computer would cost Ksh 500,000
Tupe suluhu kaka. What should I do with the karatasi in my bank account?
This is why you see Kenyans buying ‘buroti’.
At least with land, you can live on it, grow something on it or sell it later. Land is a store of value and is finite. You cannot manufacture land.
So, if you own a parcel somewhere (especially close to a city or a permanent water source), that is a valuable piece of planet earth that belongs to you.
Once the SHTF, millions of people will be left holding useless karatasi money as you are left holding a real asset.
One of Kibaki’s greatest legacies was keeping IMF out of our financial affairs. One of Uhuru’s first acts as PORK was to bring them back in, first through the VAT Act in 2013 and then hiring a Bretton-Woods hitman as Finance CS.
Watu wa Jubilee wakule ujeuri wao kwa upole. We know you
We are struggling to pay dollars for fuel imports if things don’t change shortage will cripple in. Those idiots at EPPRA are working fuel prices at 116 yet banks are selling the dollars at 125 to 129.
Correction: Uhuru refused to deal with IMF and the west and instead chose to dela with the Chinese. He even refused the 16% VAT in fuel and sacking of civil servants that the IMF was promoting.
Kenya took IMF loans though and one of the agreements with IMF is to stop controlling the value of the shilling. You now see the effects it slowly slipping. Though I dont blame Uhuru for the state of things. Its worldwide.