Topic: Scarcity of money - page 3. (Read 629 times)

In regards to Nigeria, would you really say that what the government did with the redesigned and less printed money with the reasons you listed above really worked? We understand they were accusations and counter-accusations about the Naira redesign and what was the result of the election? It was only the normal citizens that felt the pain and still feeling the pain. I personally don't have any problem with that cos nothing wrong with going Cash-less only if every aspect of the economy will follow suit.

That makes the value of your money less. It devalues your money because of QE. The more they are in circulation means the money had inflated already.

In some countries, the banks are limiting how much a person could withdraw. This is not because they don't have money but because the banks lent thier money to debtors for interest which they can't give depositors thier money back.  

Which African country has scarcity? You generalize everything; you should have some statistical evidence to back up your explanation. My country has so much money in circulation that they are begging the public to return the money to commercial banks, which has affected the value of currencies. Because of this, they redesigned new notes to replace the old ones, and even with that, I don't think the scarcity is that great because the banks have the money, which has been shared between the rich men and the politicians, and we will see more cash before the end of the year.

This means that there are many corrupt officials of the Nigerian government, so their people are suffering because of the law they are enforcing.

       Then the maximum amount limitation given by the government of Nigeria is just too low, which will cause residents to be forced to withdraw beyond their withdrawal limit. It's something that people here in Nigeria can't do but follow.

you're right it seems the OP did mean that. and I think the real scarcity is in the infrastructure to get that money. because these days it is indeed not easy for people to make money. the lack of job vacancies is also one of the real reasons. this also stems from the many companies that have gone bankrupt since the pandemic started. and the bottom line is that global economic conditions have not recovered properly.

This is the exact same thing I would like to say. IMO, based on my country's current situation, some of us lack the opportunity to make money. Money is there but the oportunities given are scarce, there're offer or course but the competition is very high. Let's just say we there are job offers, the thing is you need to prove why you are different from others who has the same field as you.

In terms of investment? It will be a bigger competition coz not everyone starts at the same starting line. Money isn't the problem/scarce but the lack of opportunity, there is also a case where financial education is a problem coz once they got the money they tend to spend it on not conventional things or sometimes used for needs coz money is scarce and that's the only time they'd get the chance to make money so they'll choose it for their basic needs first and the rest is for investing, but the catch is their needs sometimes are much more expensive than what they earn.

We do not lack money but what we lack is the opportunity to make money here, economic barriers from macro to micro directly affect the life of each household, or the economy of a country.
After the crises in society in recent years, I think things are getting worse and now we are also experiencing a major military conflict and very likely widening the scope of the conflict war.

I don't believe that printing more money can save a nation; on the contrary, I believe that it will make things worse because increased money circulation will lower the value of the fiat currency, which will result in high inflation rates if this practice is continued. There are numerous elements to take into account while determining inflation rates, particularly those that are external to the nation.

In my country there is no scarcity of fiat currency, but for us as unemployed, of course we can feel, this is not a problem of scarcity but our current income that has not been able to meet the needs of life so that it has an impact on thinking as you said, and when making fiat currency the government has set how much can be circulated and this must have a limit, So in this case we need hard work so that our income can increase and no longer feel the scarcity of fiat currency circulation.

True! FED can print all the money they want because they have the machinery to do that and this is why the problem of unlimited supply of money that are controlled by the government itself which causes too much inflation that will effect the money's value in the future to come. This is why bitcoin is the answer of all the economic crisis, inflations, recessions, and bank runs.

I don't know if it's right to say there's a scarcity of money when the government can print money at will without thinking about inflation. When the back up of multi paper money runs out, as the policy they adhere to the dollar, the risk is only the value of the currency itself and affects economic income.

I was wondering what you mean by scarcity of money? or rather you do not have a source of income supported by skills.

It's very interesting and I think maybe a little long. 

The scarcity of money in various countries around the world can be attributed to a variety of factors, including economic problems, government policies and global events. While it's hard to pinpoint a single reason, some of the most common causes of a shortage of money include:

- Economic problems such as recession, inflation, and high debt can cause a shortage of money. Shortages in the money supply can lead to decreased spending and investment, which can further exacerbate economic problems.

- Government policies such as taxation, interest rates, and monetary policy can affect the circulation of money in an economy. If these policies are not managed properly, they can lead to a scarcity of money.

- Global events such as pandemics, wars and natural disasters can also impact the circulation of money. For example, the COVID-19 pandemic has caused a significant decline in economic activity, which has resulted in a decrease in money circulation.

- Corruption within government and financial institutions can also lead to a shortage of money. When funds are mismanaged or embezzled, it can lead to a decrease in the amount of money available for circulation.

Remember that the scarcity of money is not a crisis that affects the United Nations economy specifically. Rather, it is a global problem that affects different countries in different ways.

To address this problem, it is important for governments, financial institutions and individuals to work together to implement policies and practices that promote economic growth and stability.

The government has the qualifications to print the maximum amount of money in each year, they cannot decide to print more money if there is no basis for consideration and printing more money will also not create a balance resulting in inflation because it cannot be controlled or in other words the circulation of money unbalanced in the market. Unemployment is a problem that the government has not been able to overcome, due to the lack of land for jobs that can be accessed by the community, so that the impact on people's income has problems meeting their daily needs.

Covid-19 was a big blow to the collapse of most countries' economies and on the other hand inflation and recession also hit together. They have not been able to overcome this problem, thus worsening the situation and the people's economy.

Initially, we were made to believe that the new financial policy from the government that led to the scarcity of money in my country was a put in place to help the general public by stopping the very rich politicians from influencing the choice of the poor people among us with vote buying.
But from what transpired during the general elections we can boldly say that the policy never helped us as a people in anyway because politicians still did exactly what the policy promised to prevent.

So many people has very sad stories to tell because of the scarcity of money. So many has lost many good opportunities because of the policy which I think is absolutely "useless". It hasn't helped us as a people and the government has to do something about it as soon as possible

If I read between the lines of your post, you are not talking about the scarcity of money... but rather about the distribution of wealth and also high inflation. Governments can print lots of money, but if you are unemployed... then you will not get your hands on that money. (so unemployment are the real problem)

The global economy are taking a lot of punches from the affect of the Covid-19 pandemic and also from the War in the Ukraine, so it is expected that the economy would struggle.     (Important : This was caused by governments bad decisions)

I'm aware of the monetary crises in numerous countries, but the United Nations' economy isn't the only one experiencing difficulty. A number of factors contribute to this, including poor leadership, high unemployment, and pervasive corruption. The rising rates of joblessness and insecurity in the Americas, Africa, and Europe are terrifying. However, there is cause for optimism; we have the power to effect change with novel monetary systems like Bitcoin and cryptocurrencies.

I've been keeping tabs on crypto, and I can assure you: it's about to explode. Already it exceeds the total GDP of some very small countries. Therefore, governments and banks need to get up and running. We need to replace our antiquated, centralized, and slow monetary systems with modern alternatives.

Don't give up hope, that's all I'm saying. Continue your faith and embrace cutting-edge technologies like AI, chatGPS, cryptocurrencies, etc. Apply them to improve our lives and the lives of future generations financially.

I don't think there will be a scarcity of money because many countries will soon print paper money, it's easy for countries to print paper money because printing paper money doesn't require a high cost, it's different if there are countries that use gold and silver benchmarks to print paper money.

The way it’s distributed isn’t actually the main problem. If you print a shit load of money and have all that money in circulation, there is bound to be issues irrespective of having the money in the hands of the poor or the rich.
I don’t really think it makes any difference if the money is in the hands of huge corporations or in the hands of poor folks. The effects of having too much money in circulation would likely be the same.

If you print an unreasonable amount of money and give them all to the people to let them shop, then don’t you think the value of the currency would be impacted by the sheer number of currency available? Don’t forget money has to be somewhat scarce to retain some of its value.

I would guess that the way it is distributed is the main problem if you ask me. I get that if you print a lot then it is a problem, but if you print it and then give it to rich people and not give much to poor people then it is even bigger of a problem. Just this past pandemic period, we have seen companies get trillions while 400+ million people also get trillions.

If you ask me give them all to people and let them shop, which eventually will go in the hands of the rich people anyway. It is not the humans we need to worry about, even the richest person is rich because their company is rich, so we need to rethink how we approach to big companies and their profits, not the rich vs poor argument. It is not us vs Elon, it is us vs tesla, or not us vs Jeff, it is us vs amazon.

 I don't think, there is scarcity of money in my country but there is inflation that is affecting the country economy that is drawing the government attention to do something fast so that people will start experiencing deflation again in the land. I believe, many countries of the world are not yet to recover from the inflation pandemic caused for the land that is making many citizens to experience scarcity of money in their various societies. I think, many governments need to take a bold step like El Salvador government did by making Bitcoin legal tender for their citizens to experience surplus wealth in their businesses.