Somali Shilling - It's liquidity in Somalia & alternative options for businesses that don't want it

[Ras]

Barely any locals use debit/credit cards and I'm not educated on how many carry dollars around.

How do consumer faced businesses in the Somalia trust/verify the Somali Shilling bank notes and if they don't; what options do they have? I heard notes from a particular period are trusted more.

http://allafrica.com/stories/201707120223.html

If I'm stuck with a ton of Somali Shilling at the end of the year... would it be difficult to reinvest it within the country (i.e. buying land, hiring construction companies, employing skilled people & etc).

Doubt the government itself would want to deal with billions of shilling of unverified origin.

I'm fairly certain traders in other countries won't touch it and you could only exchange so much (try exchanging a few 100 million shilling) so using the money to procure materials & goods is quite difficult.

The government should just give up on physical notes and go all digital as it's probably cheaper for them (a lot headache for the citizens though).

Any thoughts on how to still process a lot of transactions from locals using a currency with some value? Maybe M-pesa?

 

[Mr.Haggis]

Shillings are pretty much worthless now unless the government re-establishes the currency by printing new bank notes.

 

[Abdalla]

Forget shillings, they don't accept dollar bills of a certain period, especially the hundred dollar note

 

[Mohsin]

We are going to change shilling name to Dirham

 

[Inquisitive_]

Everyone wants to talk about the symptoms but never address the underlying root causes.

These business people/traders are the most useless people I have ever come across far worse then the brainwashed theory filled graduate finance quacks.

The medium of exchange is either dictated by the authorities that can enforce their will (like the USA did removing gold, making the dollar legal tender enforced upon everyone) or in our case were the government hasn't got the authority the traders themselves got together to set up suitable system were a medium of exchange acceptable to all parties is agreed upon and enforced.

When neither of these existed people bartered using commodities as currency, these then grew into local communities when scaled and they would use receipt systems as currency same concept as fiat but at least real goods were involved in the trade rather then the pure printing press of today were paper is just brought into exist backed by nothing.

The way out is actually very simple and involves going back to your roots, using someone else's currency is absolute suicide and enslaves you whilst enriching them at the same time, they simply print while you hand over all your resources, a perpetual trap and poverty cycles you will simply never escape, 100 million of people died protecting themselves from these parasites.

This is why these Talmudist Satanist Kabbalah Babylonian magician well verses in the dark arts of money manipulation activated al-shabab to take control of pretty much the entire agricultural breadbasket in our country, why ? because the first step in fighting back this system is to take control of your own food sources, they normally destroy this through their NGO's and bogus enforced free market to destroy this industries but in our case we have physical occupation by their own proxy terrorists groups as a last resort.

The fundamental reason why they wage this relentless war on agriculture across the whole of Africa is because 100 large scale farmers coming together to say "we only accept our own currency" (which a sensible authority controls and bans all food imports) will force every other sector in the country by default to follow suit because they all need to 'eat', it's a revolution overnight.

This is how the whole of Africa was destroyed! and the only way to fix this is to revive it, every other powerful nation protects their local industries especially their agricultural base, it's why the EU CANADA trade deal fell apart and why many wealthy nations argue over it intensely because it's the only means of keeping you protected from the heyna's and the speculators.

 

[Coulombs law]

When I was at Somalia they were slowly transitioning from using physical notes to just sending money through a phone aka Hormuud telecommunications.

Of course that was a while back so I'm sure by now the actual use of notes has surely dimisinished significantly.

The only notes they use now is mostly US dollars and if the government does not do something like establishing a new bank note system then the situation won't change.

 

[Ras]

Everyone wants to talk about the symptoms but never address the underlying root causes.

These business people/traders are the most useless people I have ever come across far worse then the brainwashed theory filled graduate finance quacks.

The medium of exchange is either dictated by the authorities that can enforce their will (like the USA did removing gold, making the dollar legal tender enforced upon everyone) or in our case were the government hasn't got the authority the traders themselves got together to set up suitable system were a medium of exchange acceptable to all parties is agreed upon and enforced.

When neither of these existed people bartered using commodities as currency, these then grew into local communities when scaled and they would use receipt systems as currency same concept as fiat but at least real goods were involved in the trade rather then the pure printing press of today were paper is just brought into exist backed by nothing.

The way out is actually very simple and involves going back to your roots, using someone else's currency is absolute suicide and enslaves you whilst enriching them at the same time, they simply print while you hand over all your resources, a perpetual trap and poverty cycles you will simply never escape, 100 million of people died protecting themselves from these parasites.

This is why these Talmudist Satanist Kabbalah Babylonian magician well verses in the dark arts of money manipulation activated al-shabab to take control of pretty much the entire agricultural breadbasket in our country, why ? because the first step in fighting back this system is to take control of your own food sources, they normally destroy this through their NGO's and bogus enforced free market to destroy this industries but in our case we have physical occupation by their own proxy terrorists groups as a last resort.

The fundamental reason why they wage this relentless war on agriculture across the whole of Africa is because 100 large scale farmers coming together to say "we only accept our own currency" (which a sensible authority controls and bans all food imports) will force every other sector in the country by default to follow suit because they all need to 'eat', it's a revolution overnight.

This is how the whole of Africa was destroyed! and the only way to fix this is to revive it, every other powerful nation protects their local industries especially their agricultural base, it's why the EU CANADA trade deal fell apart and why many wealthy nations argue over it intensely because it's the only means of keeping you protected from the heyna's and the speculators.

Have to agree with you (other than thinking "Talmudist Satanist Kabbalah Babylonian" would be a great band name instead of giving that name to creepy magicians).


Food is the key here.

The reason why countries can make up their own currencies out of thin air is because they can guarantee the taxation of their population if they have the minimum that's required to survive; food.

Without a strong food supply domestically; you are forced to import it from abroad using foreign currency.

It's fine if you have other services or goods that would bring in enough foreign currency to feed the population and hence keep your currency afloat,

However that would mean you'd have the power to control your own development and it's one of the main pillars of sovereignty.

Why is it that Africa with it's billion hectares of unused land still struggle to feed themselves?

Surely from a population of a billion; 0.00001% of them would be competent enough to lead the growth of the agriculture market to feed the population and export it using the cheap land and water resources available (in most countries excl Somalia unfortunately).

Nope.

The West imports free food by the millions of tonnes and in turn makes growing food for the domestic market not competitive; forcing them to export most of it in search for better margins.

The West; by condoning corrupt dictators and officials; the market ends up unstable (no rule of law to secure investment) and scares away investors from developing high yield farms that could make the food produced cheaper for the local population.

Countries that can't physically grow all their food like Japan could survive by selling high value added products; while a country like Somalia has no choice but to live in between inflation and struggling to sell out all our resources to keep up with the foreign currency need ( mostly IMF, WorldBank loans).

Somalia's currency solutions are either to quickly industrialise and export high value goods or conquer another nearby country with rich agricultural resources (water mainly).

 

[Inquisitive_]

Have to agree with you (other than thinking "Talmudist Satanist Kabbalah Babylonian" would be a great band name instead of giving that name to creepy magicians).


Food is the key here.

The reason why countries can make up their own currencies out of thin air is because they can guarantee the taxation of their population if they have the minimum that's required to survive; food.

Without a strong food supply domestically; you are forced to import it from abroad using foreign currency.

It's fine if you have other services or goods that would bring in enough foreign currency to feed the population and hence keep your currency afloat,

However that would mean you'd have the power to control your own development and it's one of the main pillars of sovereignty.

Why is it that Africa with it's billion hectares of unused land still struggle to feed themselves?

Surely from a population of a billion; 0.00001% of them would be competent enough to lead the growth of the agriculture market to feed the population and export it using the cheap land and water resources available (in most countries excl Somalia unfortunately).

Nope.

The West imports free food by the millions of tonnes and in turn makes growing food for the domestic market not competitive; forcing them to export most of it in search for better margins.

The West; by condoning corrupt dictators and officials; the market ends up unstable (no rule of law to secure investment) and scares away investors from developing high yield farms that could make the food produced cheaper for the local population.

Countries that can't physically grow all their food like Japan could survive by selling high value added products; while a country like Somalia has no choice but to live in between inflation and struggling to sell out all our resources to keep up with the foreign currency need ( mostly IMF, WorldBank loans).

Somalia's currency solutions are either to quickly industrialise and export high value goods or conquer another nearby country with rich agricultural resources (water mainly).

We are almost on the same page here, the only difference is that you blame the victims while I blame the evil cabal world order that has designed this brutal system that is viciously enforced throughout Africa in various different nefarious schemes

The problem with your conclusion of blaming the victims is to argue they are 'inferior' and therefore argue they have always been 'inferior' unable to cultivate/farm their own lands yet survived in massive numbers far more then the Europeans themselves.

Even when you point out the obvious criminality (west condoning corruption) again your using soft-language blaming it on mere incompetence rather then pointing out the deliberate carefully planned malicious plan to wreck the continent, your usage of softer language for the imperialist and the harsher tone for the victims is exactly what they want.

Your assessment regarding currency is correct but only within this criminal 'paradigm', if you have real sovereignty you set the rates yourself and will never engage in stupidity such as floating your currency in an already rigged market against you, this is how your resources are looted on the cheap and you end up buying their useless treasury notes and debts that will never be fulfilled and are worthless.

We agree on the food part which is the most crucial aspect as well as sovereignty, in the past foreign trade was done through a bartering system, we both exchange something you need and something I need of which the quantity is negotiated, this is what Iran is doing since the sanctions, check the recent Russian tech for oil bartering deal they have set up which is a massive win/win for both.

This way actual goods are exchanged rather then useless scam fiat treasury debt (which is really tributes) in return for getting your assets and resources on the piss cheap because the system is rigged, they win in several conceivable ways while you are shafted six ways until Sunday.

There again we differ, you want to stay in that paradigm and play by the rules of the rigged system were as I advocate for completely getting out of it, the powers that be of course have put several mechanism in place to ensure none of this happens anywhere in the world with a willingness to go to war for it like nations did in the past when they refused to accept another nations currency.

The question then becomes who are these cabal mafia ruling elites that control all these central banks in every country (those they don't classed as axis of evil with only 3 remaining) ? and what is their history ? you will find they come from the same cabal families, Rotschild/Morgans/Rockefeller

All these families are so called Askhenazi Jews from a brutal empire once called Khazaria around the caucuses, a people that have been kicked out of 109 countries in the world throughout history for doing exactly the things they have achieved today (taking over banks, enslaving the entire populace through usury, taking over media, spreading corruption etc)

If you trace their origin even further they practice what is called as Kabballah which even the scientists you love talk about, the Babylonian dark art money magic that got them kicked out of 109 countries, they don't follow the Torah but rather the 'Talmud' a book written by curses pharisees, throughout their history they worshipped 'Baal' (malloch) offering sacrifices, this is Satan, hence my term above, this same group not only controls all the central banks (set up by force) but also the media and every other facet of corruption including Big Pharma, GMO pushing Monsanto etc there is a lot of gaps in your knowledge regarding this!

 

[Genie]

i'm going to introduce a new crypto currency in somali , for us to use .... ii sooga
everything will be bought and sold using it , within somalia of course we still need physical money but until then crypto's the way

 

[Ras]

i'm going to introduce a new crypto currency in somali , for us to use .... ii sooga
everything will be bought and sold using it , within somalia of course we still need physical money but until then crypto's the way

Crypto-currency backed by the government will move the huge informal economy to the forefront.

The traders get a more stable currency (can't be counterfeited) and would be able to gain a credit rating (for halal financing of course) and grow their businesses with loans.

Customers get a secure way to transact and store money.

Online shopping will be easy and safe.

Not only would it increase the number of opportunities available through it's utility but the government can build a tax system right into the currency.

Every transaction will be identified while still having as much privacy as possible.

There isn't a fixed template on how to set this up and how to collect taxes but I'm sure there are smart people working on it as we speak.

 

[TekNiKo]

Only in Somalia is the main currency a foreign one (USD)

You are the first person to open a topic regarding this critical issue. I am in Gobolaada Dhexe where the current crisis has reached a point where most businesses rejected Shilling Somali.

@Inquisitive_ can probably expand but it started after Shabab in Hiiraan banned shilling Somali in Hiiraan causing a huge influx towards govt controlled regions like Beledweyne, Cadaado, Cabudwaaq, Galkacyo etc. This caused huge inflation leading to the complete rejection of Shilling Somali

Some are blaming Puntland for mass producing counterfeit notes and flooding the market, causing loss of confidence in the Somali shilling

Truly detrimental to the poor, some who never seen a dollar note in their life. They are dying of hunger as we speak!

 

[Ras]

We are almost on the same page here, the only difference is that you blame the victims while I blame the evil cabal world order that has designed this brutal system that is viciously enforced throughout Africa in various different nefarious schemes

The problem with your conclusion of blaming the victims is to argue they are 'inferior' and therefore argue they have always been 'inferior' unable to cultivate/farm their own lands yet survived in massive numbers far more then the Europeans themselves.

Even when you point out the obvious criminality (west condoning corruption) again your using soft-language blaming it on mere incompetence rather then pointing out the deliberate carefully planned malicious plan to wreck the continent, your usage of softer language for the imperialist and the harsher tone for the victims is exactly what they want.

Your assessment regarding currency is correct but only within this criminal 'paradigm', if you have real sovereignty you set the rates yourself and will never engage in stupidity such as floating your currency in an already rigged market against you, this is how your resources are looted on the cheap and you end up buying their useless treasury notes and debts that will never be fulfilled and are worthless.

We agree on the food part which is the most crucial aspect as well as sovereignty, in the past foreign trade was done through a bartering system, we both exchange something you need and something I need of which the quantity is negotiated, this is what Iran is doing since the sanctions, check the recent Russian tech for oil bartering deal they have set up which is a massive win/win for both.

This way actual goods are exchanged rather then useless scam fiat treasury debt (which is really tributes) in return for getting your assets and resources on the piss cheap because the system is rigged, they win in several conceivable ways while you are shafted six ways until Sunday.

There again we differ, you want to stay in that paradigm and play by the rules of the rigged system were as I advocate for completely getting out of it, the powers that be of course have put several mechanism in place to ensure none of this happens anywhere in the world with a willingness to go to war for it like nations did in the past when they refused to accept another nations currency.

The question then becomes who are these cabal mafia ruling elites that control all these central banks in every country (those they don't classed as axis of evil with only 3 remaining) ? and what is their history ? you will find they come from the same cabal families, Rotschild/Morgans/Rockefeller

All these families are so called Askhenazi Jews from a brutal empire once called Khazaria around the caucuses, a people that have been kicked out of 109 countries in the world throughout history for doing exactly the things they have achieved today (taking over banks, enslaving the entire populace through usury, taking over media, spreading corruption etc)

If you trace their origin even further they practice what is called as Kabballah which even the scientists you love talk about, the Babylonian dark art money magic that got them kicked out of 109 countries, they don't follow the Torah but rather the 'Talmud' a book written by curses pharisees, throughout their history they worshipped 'Baal' (malloch) offering sacrifices, this is Satan, hence my term above, this same group not only controls all the central banks (set up by force) but also the media and every other facet of corruption including Big Pharma, GMO pushing Monsanto etc there is a lot of gaps in your knowledge regarding this!

It's simply not worth it to fight the whole world just to be free from their monetary system.

As the say... the winner is king and the loser is just a bandit.

For pushing against it you'll just be added to a list and you'll find obstacles in your life.

Just work within the system and profit what you can for yourself and your own country.

Africa isn't going to be saved from Talmudist Satanist Kabbalah Babylonian magicians by Somalia.

All I care about is improving the standard of living of all Somalis first.

Not playing along with the "international banking standards" would just get us blacklisted and they'll definitely will make sure Somalia returns back to the darkness of the 90s and this time a lot longer.

Even if we owned nuclear weapons it won't protect us from being targeted through proxy wars.

The elite would rather live in a paradise like bunker before giving up on their control of the monetary system... and someone that isn't under their thumb is a threat to that.

We live in the real world and unless you're hiding some super futuristic weapons tech ... Somalia hasn't got any option but to work within the rules set out.

 

[Ras]

Only in Somalia is the main currency a foreign one (USD)

You are the first person to open a topic regarding this critical issue. I am in Gobolaada Dhexe where the current crisis has reached a point where most businesses rejected Shilling Somali.

@Inquisitive_ can probably expand but it started after Shabab in Hiiraan banned shilling Somali in Hiiraan causing a huge influx towards govt controlled regions like Beledweyne, Cadaado, Cabudwaaq, Galkacyo etc. This caused huge inflation leading to the complete rejection of Shilling Somali

Some are blaming Puntland for mass producing counterfeit notes and flooding the market, causing loss of confidence in the Somali shilling

Truly detrimental to the poor, some who never seen a dollar note in their life. They are dying of hunger as we speak!

Usually a government would ban other currencies from being legal tender temporarily in these scenarios.

Doubt Saakin & co would push for that or enforce any ruling out of Xamar.

The government hasn't got the power to back the shilling atm nor can they quickly replace it with a new one as that would probably bring in more public upheaval.

Wonder what options are available?

 

[Mohsin]

We are going to change shilling name to Dirham

Shillling is British name we have no connection with white Britain , but we are muslim

 

[Genie]

Crypto-currency backed by the government will move the huge informal economy to the forefront.

The traders get a more stable currency (can't be counterfeited) and would be able to gain a credit rating (for halal financing of course) and grow their businesses with loans.

Customers get a secure way to transact and store money.

Online shopping will be easy and safe.

Not only would it increase the number of opportunities available through it's utility but the government can build a tax system right into the currency.

Every transaction will be identified while still having as much privacy as possible.

There isn't a fixed template on how to set this up and how to collect taxes but I'm sure there are smart people working on it as we speak.

exactly

 

[Deactivated]

If there's no confidence in the country there can't be confidence in the currency. The best thing that happened to small businesses are these mobile transferring systems that are in USD. Until Somalia gets a central bank that can create a mobile payment solution and ease the population into adopting the shilling than we are headed in the right direction. The USD is a hedge against the instability of the marketplace.

Somalia has a long list of tasks to complete in order to building confidence, and without confidence the currency dilemma can wait. I personally preferred purchasing a home and sending money in USD; the amount of the USD circulating Somalia is a great thing and it will help investors and small business curb inflation risks. The amount of work needed to rebuild Somalia is astonishing and you cannot scape goat the problem by distracting the public with a USD witch hunt.

 

[TekNiKo]

If there's no confidence in the country there can't be confidence in the currency. The best thing that happened to small businesses are these mobile transferring systems that are in USD. Until Somalia gets a central bank that can create a mobile payment solution and ease the population into adopting the shilling than we are headed in the right direction. The USD is a hedge against the instability of the marketplace.

Somalia has a long list of tasks to complete in order to building confidence, and without confidence the currency dilemma can wait. I personally preferred purchasing a home and sending money in USD; the amount of the USD circulating Somalia is a great thing and it will help investors and small business curb inflation risks. The amount of work needed to rebuild Somalia is astonishing and you cannot scape goat the problem by distracting the public with a USD witch hunt.

Are you a darwinist? Majority of Somali citizens live off Shilling Somali, the USD is not suitable for the low income society. Do you think one dollar notes and coins are circulating the market?

 

[Garaad Darawiish]

Everyone wants to talk about the symptoms but never address the underlying root causes.

These business people/traders are the most useless people I have ever come across far worse then the brainwashed theory filled graduate finance quacks.

The medium of exchange is either dictated by the authorities that can enforce their will (like the USA did removing gold, making the dollar legal tender enforced upon everyone) or in our case were the government hasn't got the authority the traders themselves got together to set up suitable system were a medium of exchange acceptable to all parties is agreed upon and enforced.

When neither of these existed people bartered using commodities as currency, these then grew into local communities when scaled and they would use receipt systems as currency same concept as fiat but at least real goods were involved in the trade rather then the pure printing press of today were paper is just brought into exist backed by nothing.

The way out is actually very simple and involves going back to your roots, using someone else's currency is absolute suicide and enslaves you whilst enriching them at the same time, they simply print while you hand over all your resources, a perpetual trap and poverty cycles you will simply never escape, 100 million of people died protecting themselves from these parasites.

This is why these Talmudist Satanist Kabbalah Babylonian magician well verses in the dark arts of money manipulation activated al-shabab to take control of pretty much the entire agricultural breadbasket in our country, why ? because the first step in fighting back this system is to take control of your own food sources, they normally destroy this through their NGO's and bogus enforced free market to destroy this industries but in our case we have physical occupation by their own proxy terrorists groups as a last resort.

The fundamental reason why they wage this relentless war on agriculture across the whole of Africa is because 100 large scale farmers coming together to say "we only accept our own currency" (which a sensible authority controls and bans all food imports) will force every other sector in the country by default to follow suit because they all need to 'eat', it's a revolution overnight.

This is how the whole of Africa was destroyed! and the only way to fix this is to revive it, every other powerful nation protects their local industries especially their agricultural base, it's why the EU CANADA trade deal fell apart and why many wealthy nations argue over it intensely because it's the only means of keeping you protected from the heyna's and the speculators.

i like you post way before i read them. You always seem to hit the mark! My favourite user by far

 

[Inquisitive_]

It's simply not worth it to fight the whole world just to be free from their monetary system.

As the say... the winner is king and the loser is just a bandit.

For pushing against it you'll just be added to a list and you'll find obstacles in your life.

Just work within the system and profit what you can for yourself and your own country.

Africa isn't going to be saved from Talmudist Satanist Kabbalah Babylonian magicians by Somalia.

All I care about is improving the standard of living of all Somalis first.

Not playing along with the "international banking standards" would just get us blacklisted and they'll definitely will make sure Somalia returns back to the darkness of the 90s and this time a lot longer.

Even if we owned nuclear weapons it won't protect us from being targeted through proxy wars.

The elite would rather live in a paradise like bunker before giving up on their control of the monetary system... and someone that isn't under their thumb is a threat to that.

We live in the real world and unless you're hiding some super futuristic weapons tech ... Somalia hasn't got any option but to work within the rules set out.

They are already at war with you and have been ever since the Kacaan, you will simply not escape this, their terrorist proxies control all the fertile lands in Somalia and neither will they stop this war until you begin to fight back collectively.

You can't improve the life's of people in a system that requires them to be subjects and slaves unless you take up the 'house negro' titles, you are not fighting a force or a system that can't be defeated, in fact it's very easy to defeat them.

They simply won the war of the mind, the mind is the first frontier of conflict, the first level of combat and the first paradigm of revolution, whomever conquers this conquers the people.

Even someone like you educated in their own institutions far away from conflict has been mentally conquered by them and you exhibit several such traits, if you think like this then what hope is their for those back home that don't have the comforts you have with their schools bombed and food taken away?

Until we remove those artificial shackles we allowed to be imposed on to our minds, see the greater picture and not allowing ourselves to be controlled like sheep, we will change our collective condition overnight, it only takes 30% of the people to have this awakening to bring about this change.

Until then we will collectively wallow in this misery and the punishment from the most high will keep raining down upon us until the people either begin to wake up or die upon masses to allow a new generation that is far better then the idiots before to rise up.

I put the current estimations of awakening at 5% from what I have seen, a long way off and hence the only war I am able to wage is on the ideological front to remove those shackles, our creator only cares about the efforts we make not the outcomes which I won't be asked about since it's not in my hand.

 

[felloff]

They are already at war with you and have been ever since the Kacaan, you will simply not escape this, their terrorist proxies control all the fertile lands in Somalia and neither will they stop this war until you begin to fight back collectively.

You can't improve the life's of people in a system that requires them to be subjects and slaves unless you take up the 'house negro' titles, you are not fighting a force or a system that can't be defeated, in fact it's very easy to defeat them.

They simply won the war of the mind, the mind is the first frontier of conflict, the first level of combat and the first paradigm of revolution, whomever conquers this conquers the people.

Even someone like you educated in their own institutions far away from conflict has been mentally conquered by them and you exhibit several such traits, if you think like this then what hope is their for those back home that don't have the comforts you have with their schools bombed and food taken away?

Until we remove those artificial shackles we allowed to be imposed on to our minds, see the greater picture and not allowing ourselves to be controlled like sheep, we will change our collective condition overnight, it only takes 30% of the people to have this awakening to bring about this change.

Until then we will collectively wallow in this misery and the punishment from the most high will keep raining down upon us until the people either begin to wake up or die upon masses to allow a new generation that is far better then the idiots before to rise up.

I put the current estimations of awakening at 5% from what I have seen, a long way off and hence the only war I am able to wage is on the ideological front to remove those shackles, our creator only cares about the efforts we make not the outcomes which I won't be asked about since it's not in my hand.

how could somalia be improved