Re: Is Ermias Amelga blondy level dummy or a super fraudster with a sinister agenda??
The devaluation of Birr resulting from the floating currency exchange mechanism would only help Ethiopia if it had exportable product it needs to dump somewhere outside its borders. But what does Ethiopia produces which the rest of the world needs? Nothing.
I know some would say COFFEE. But the demand for ethiopian coffee is always there, yet the country couldn't make more than two vessel loads of it available for the world market. No productivity, no security to produce and transport coffee around in any part of the country.
Let's try something else. Assuming it would attract tourism because now the Birr is cheaper if anyone goes to vacation in Ethiopia. Not really again. The price of everything goes up with the value of the dollar. Food costs higher now; transportation is more expensive ; hotels rate goes to the roof with the rate of exchange. And yet there is no attraction to visit, no Lalibela, Axsum, Abay fall. So why would anyone go to Ethiopia at this time? Maybe prostitution? Hell no, prostitutes double their prices after they heard the devaluation of Birr. Thailand is still unbeatable in this front.
Any ways. The only effect of this change in currency policy has is on the locals who had some savings in Birr. They lost the value of their wealth and now became destitute over night.
By the way, don't blame IMF. IMF's police of devaluation local currency to stimulate one's economy by increasing cheap exports works very well where there is high productivity and surplus of products, like in china, vietnam, and other similar countries. I am sure IMF believed satan Mamo Killo when he declared he was producing wheat for export.
I know some would say COFFEE. But the demand for ethiopian coffee is always there, yet the country couldn't make more than two vessel loads of it available for the world market. No productivity, no security to produce and transport coffee around in any part of the country.
Let's try something else. Assuming it would attract tourism because now the Birr is cheaper if anyone goes to vacation in Ethiopia. Not really again. The price of everything goes up with the value of the dollar. Food costs higher now; transportation is more expensive ; hotels rate goes to the roof with the rate of exchange. And yet there is no attraction to visit, no Lalibela, Axsum, Abay fall. So why would anyone go to Ethiopia at this time? Maybe prostitution? Hell no, prostitutes double their prices after they heard the devaluation of Birr. Thailand is still unbeatable in this front.
Any ways. The only effect of this change in currency policy has is on the locals who had some savings in Birr. They lost the value of their wealth and now became destitute over night.
By the way, don't blame IMF. IMF's police of devaluation local currency to stimulate one's economy by increasing cheap exports works very well where there is high productivity and surplus of products, like in china, vietnam, and other similar countries. I am sure IMF believed satan Mamo Killo when he declared he was producing wheat for export.
Last edited by Educator on 01 Aug 2024, 23:42, edited 1 time in total.
Re: Is Ermias Amelga blondy level dummy or a super fraudster with a sinister agenda??
α€ααα«α΅ α α
α α ααα AN ECONOMIC GENIUS! A MOST BEAUTIFUL EXPLANATION OF FINANCE SCIENCE! MONETARY POLICY 101 FROM THE MOUTH OF THE MASTER!
-
wubebereha
- Member
- Posts: 240
- Joined: 05 Apr 2024, 12:17
Re: Is Ermias Amelga blondy level dummy or a super fraudster with a sinister agenda??
this guy is either a retard or a crook. otherwise it is clear that what Abiy did is sell Ethiopia's economic sovereignty. the few billion dollars he received in exchange is a drop in an ocean as the country's demand for dollar is in hundreds of bilions of dollars, that will inevitably force an accelerated free fall of the birr. but enough with the useless back and forth argument, let's wait and see.
Re: Is Ermias Amelga blondy level dummy or a super fraudster with a sinister agenda??
Honestly, I did not even watch this YouTube. I categorically concluded it is a propaganda stunt. While even roll a diem while assuredly know it is a 100% PP-OLF drama. I very well know the desperate attempt of OLF-PP Abiy is to get hard currency and spend it as if there is not tomorrow - at the expense this and the next generation.
This guy, Ermias, with disputable track records of various alleged Ponzi investment scheme can stand as witness or be a reputed expert on this critical subject of national interest. He put his opportunistic interest before national interest. When someone is alleged for a Ponzi scheme, chances are there to betray truth and selling down grassroots or broad mass interests to capitalize personal business gains through criminal or business collusions. In a country like Ethiopia, where ethics is flushed down the toilet and rather collusion and corruption regarded as smartness/super-intelligent/, a guy like Ermias who has been a repeat suspect of illegal or unfair business practice record is not worth or credible expert on this subject matter. For that matter the YouTube itself is a mouthpiece paid out of the corruption business.
This guy, Ermias, with disputable track records of various alleged Ponzi investment scheme can stand as witness or be a reputed expert on this critical subject of national interest. He put his opportunistic interest before national interest. When someone is alleged for a Ponzi scheme, chances are there to betray truth and selling down grassroots or broad mass interests to capitalize personal business gains through criminal or business collusions. In a country like Ethiopia, where ethics is flushed down the toilet and rather collusion and corruption regarded as smartness/super-intelligent/, a guy like Ermias who has been a repeat suspect of illegal or unfair business practice record is not worth or credible expert on this subject matter. For that matter the YouTube itself is a mouthpiece paid out of the corruption business.
Re: Is Ermias Amelga blondy level dummy or a super fraudster with a sinister agenda??
Since you know him and all his family, can you tell us why he doesn't own a house, a car, or even a bicycle in Ethiopia?
He lives in a small rental apartment, 80 sqm. He doesn't own a car or any personal item. He doesn't even have any saving in his bank account. It is a miracle how he is making ends meet. If he leaves the country Tommorow, he doesn't have to worry for his belongings cause he has got none. It is obvious he has no confidence in the country and the administration. After collecting hundreds of millions of investors money, all that was discover in Access real-estate bank account was only 129 Birr. How did it happen? He is a big time fraudster. Now he is misleading the people about the current economic debacle. Liar liar liar
He lives in a small rental apartment, 80 sqm. He doesn't own a car or any personal item. He doesn't even have any saving in his bank account. It is a miracle how he is making ends meet. If he leaves the country Tommorow, he doesn't have to worry for his belongings cause he has got none. It is obvious he has no confidence in the country and the administration. After collecting hundreds of millions of investors money, all that was discover in Access real-estate bank account was only 129 Birr. How did it happen? He is a big time fraudster. Now he is misleading the people about the current economic debacle. Liar liar liar