Arab Corruption vs Somali Corruption

[Cognitivedissonance]

I have two words for you fiat currency, they wealth is tied up in the petro dollar, why do you think they've got all this wealth but can't have a strong army? Why do you think there are American troops scattered all over those oil mines. Why do they need America to protect them or is America protecting their assets. Read a book by John Perkins, the confessions of an economic hitman it'll give you an insight into how these bankers operate.

 

[HalyeeyQaran]

I have two words for you fiat currency, they wealth is tied up in the petro dollar, why do you think they've got all this wealth but can't have a strong army? Why do you think there are American troops scattered all over those oil mines. Why do they need America to protect them or is America protecting their assets. Read a book by John Perkins, the confessions of an economic hitman it'll give you an insight into how these bankers operate.

Nigga do you even know what a fiat currency is? It's the exact opposite of what you just posted. Oil revenue can't contribute to a fiat currency since it's backed by oil. A fiat currency isn't backed by any physical commodity.

 

[Cognitivedissonance]

Nigga do you even know what a fiat currency is? It's the exact opposite of what you just posted. Oil revenue can't contribute to a fiat currency since it's backed by oil. A fiat currency isn't backed by any physical commodity.

What's the US dollar then Einstein, I bet you think the federal reserves is owned by the American government too right?

The American made a deal with al saud, that deal was the oil was traded in US dollars, so most of al saud & all the gulf oil is tied to the us economy.

 

[Cognitivedissonance]

Once the US dollar loses its value which is certainly going to happen cause fiat currency is debt based & there's no tangible wealth to back it up such as gold or silver.

 

[HalyeeyQaran]

Everyone knows that the US dollar is a fiat currency, that's common knowledge. You were referring to the Gulf currencies.

 

[Cognitivedissonance]

Everyone knows that the US dollar is a fiat currency, that's common knowledge. You were referring to the Gulf currencies.

The gulf states which currency do they trade their oil in?

 

[Al Dhoobe]

The American dollar is tied to the supply and demand of the commodity (oil) which makes it a fiat currency. Almost all currencies today are fiat currency since they themselves hold no real value

 

[Hitman]

@HalyeeyQaran You could interpret his words in a different way. It could suggest that the petro-dollar system has allowed them to trade their oil for fiat currency which made the gulf Arabians wealthy whilst still keeping the U.S. currency intact. Gulf currencies are fiat currencies too as they're not officially backed by any commodity.

 

[Hitman]

The gulf states which currency do they trade their oil in?

You're wrong if you're suggesting that the American dollar is backed by oil, it's not, hence it's a fiat currency. You are right in that it's through the petrodollar system that the U.S. currency is able to survive. They've made a deal with the gulf Arabian countries that they (the gulf states) don't trade their oil except in U.S. dollars in return for security. This means that other countries that want to buy oil from the gulf states must purchase it in dollars. This increases the demand for the dollar albeit superficially.

 

[Kaafiye]

Gulf Arabs hit the oil jackpot. Yemen is a dirthole. Somalia don't have any wealth hence we are also a dirthole.

Even if Somalia had more oil wealth than Saudi Arabia and Canada combined, we still wouldn't do a damned thing to benefit from it. Somalia has plenty of mineral and natural resources, and there's billions of untapped wealth which exists in our country. Yet our myopic leaders have no intentions on taking advantage of this potential wealth

 

[Cognitivedissonance]

You're wrong if you're suggesting that the American dollar is backed by oil, it's not, hence it's a fiat currency. You are right in that it's through the petrodollar system that the U.S. currency is able to survive. They've made a deal with the gulf Arabian countries that they (the gulf states) don't trade their oil except in U.S. dollars in return for security. This means that other countries that want to buy oil from the gulf states must purchase it in dollars. This increases the demand for the dollar albeit superficially.

Read what I wrote & tell me where I said the dollar is backed by oil.

 

[Cognitivedissonance]

@HalyeeyQaran how does it feel to get taught something by an MJ

 

[Kaafiye]

Sxb somalis are the only Faqiir Mutakabir(arrogant poor persons) you'll find on earth

Instead of letting the country flourish and stealing little here and there, we take 100% of what comes in. Arabs allow for development then steal alot based on qabiil but satiate the weaker clans and make sure they're all well off

Exactly. The Somalis are extremely corrupt to the point where it doesn't even make any sense.

What's the point of stealing a few million dollars here and there, when you can develop your country, set up the institutions, and then take potentially even more money once Somalia stabilizes itself? Where's the logic here?

If you chase money at the expense of gaining power, you lose both. But if you chase power regardless of money, then you will obtain both money and power. The Somali leaders need to understand that the regular citizens actually wouldn't mind if their leaders become wealthy, so long as they have a high standard of living and a good quality of life. The Arab Kings are a perfect example of this. These Arab Kings have billions of dollars of stolen wealth, which they undoubtedly took from their National Treasury, but the common citizens aren't too concerned about this because they themselves are living a comfortable life. Somalia---like the Gulf Arab countries---benefits from having substantial mineral resources while also having a small population. If Somalia had a President with an IQ above 70, then we wouldn't be in this ugly situation we're currently experiencing.

 

[Kaafiye]

I've never understood their obsession with money. I want money to gain influence to gain power, they've already got it.

They have a unique opportunity to reshape an entire society from the bottom up.

Someone should tell them legacy cannot be purchased.

I've been saying this for years! Legacy is priceless! You could have the opportunity to recreate Somali society in your image, setting up institutions in the country and becoming a national hero to the Somali people. You could create a situation where you can become the George Washington or Mahatma Gandhi of Somalia, where your face adorns the currency and you're honored even centuries after your death. Somalia as a nation-state is dead and has been dead for a long time, and our culture/identity is eroding before our very eyes. This is an unacceptable situation and it needs to be self-corrected very soon.

These idiotic leaders should understand, that if they become President of the country and actually do a somewhat decent job, then they would have the full backing of the Somali people and they could stay in power for 5 or 10 or even 20 years if they really wanted too. If they place Somalia in a position to stabilize itself, then of course no one would care if they pocketed some money here and there. People would overlook it and focus on the big picture instead.

 

[Kaafiye]

Once the US dollar loses its value which is certainly going to happen cause fiat currency is debt based & there's no tangible wealth to back it up such as gold or silver.

Stop derailing the thread. Fiat currency is based on nothing but implicit wealth, and you literally have zero understanding of how currency works and it's relationship with commodities.

 

[angrycat]

lol @ iq above 70

 

[Cognitivedissonance]

Stop derailing the thread. Fiat currency is based on nothing but implicit wealth, and you literally have zero understanding of how currency works and it's relationship with commodities.

Calm your hype you idiot, what I said does relate to the topic you emotional spastic.

 

[Kaafiye]

Calm your hype you idiot, what I said does relate to the topic you emotional spastic.

You got into a whole rant about fiat currencies, next thing you know you're gonna start posting Alex Jones YouTube links and talk about the New World Order.

I don't want to hear it.

 

[Cognitivedissonance]

You got into a whole rant about fiat currencies, next thing you know you're gonna start posting Alex Jones YouTube links and talk about the New World Order.

I don't want to hear it.

What are you going to do you emotional wreck, character assassinate all you want but I have every right to say my piece Now go & grovel to admin Stalin.

 

[Kaafiye]

What are you going to do you emotional reck, character assassinate all you want but I have every right to say my piece Now go & grovel to admin starlin.

I didn't even say anything. I just told you to stop derailing the thread, and that I don't wanna hear it. You respond by exploding out of nowhere and getting all upset, lashing out at everyone on this thread. I know it's getting late right now, but pull yourself together saaxib.