Interest s

[Mokillem]

Should Somalia stop using a paper currency and instead transition to a gold standard. I have next to nill understanding of paper economics other than its flexible as its not tied to any commodity. However the shilling is inflated and gold coins are actually worth something.

 

[maestro]

IMF won't allow that. Big bank elitists do not want to lose their power so they force the world to run on literally worthless paper.

 

[Ras]

Maybe a fiat digital currency but a gold standard would just piss of too many factions.

If we announced a gold backed currency they'll have a regime change within a year and punish us for the next few decades.

Somalia needs to ban the old shilling bank notes since 80% are fake anyways (printed after 1991).

In the meantime we should use a digital currency that works for Somalia's current situation and that will also let the government track and tax transactions in the informal market.

 

[Yonis]

All transaction should be via mobile like reer bari do

 

[Mr.Haggis]

All transaction should be via mobile like reer bari do

You mean Sahal?

 

[Yonis]

You mean Sahal?

Yes like Sahal