We need to secure Sanaag completely. Especially where the Calmadow mountains are. That's why the terrorists are there, they are digging for gold. Sanaag is Somalia's gold rush. Forget oil and other commodities for now. We need some wealth to begin with before we can expand into oil. We need to ensure our Puntland reserves has gold so we can use this to provide some gurantee to investors if Puntland defaults on it's loans, we will give them a slice of our gold reserve. We will need to take this gold eventually to the federal reserve bank in America because it's considered reliable and 'neutral' with a strong government that is trusted by the world. This ensures they can access your gold reserve in New York underground vaults by lodging a case against your nation for defaulting on payment an retrieving the exact sum of gold they lost to defaults on your loan repayments.
The only problem is, we don't have a foreign gold reserve at all as Puntland. We have nothing to kick-start our economy. Every nation that is poor also lacks foreign reserves. We can't even begin to develop a mixed economy like other nations because they had something to start with, they had gold reserves in foreign exchanges securing their economy and securing any investor not to worry about losing their money if they invest because they can recoup it from that nation's assets in the american federal reserve.
We need at least 20 billion in reserves. I say this because the amount of investment we need is billions to build our infrastructure and we need at least something double that amount in reserves so investors can recoup it if we default on our payments. We need a reliable government though who doesn't swindle away taxes and has proper finance policies and checks and balances to ensure our financial policies are 'sound' or else we will lose our 'gold' and the economy will tank.
The only problem is, we don't have a foreign gold reserve at all as Puntland. We have nothing to kick-start our economy. Every nation that is poor also lacks foreign reserves. We can't even begin to develop a mixed economy like other nations because they had something to start with, they had gold reserves in foreign exchanges securing their economy and securing any investor not to worry about losing their money if they invest because they can recoup it from that nation's assets in the american federal reserve.
We need at least 20 billion in reserves. I say this because the amount of investment we need is billions to build our infrastructure and we need at least something double that amount in reserves so investors can recoup it if we default on our payments. We need a reliable government though who doesn't swindle away taxes and has proper finance policies and checks and balances to ensure our financial policies are 'sound' or else we will lose our 'gold' and the economy will tank.
