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 Politics: Gambian politics
 NEW Money Printed...I told you!
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OB1

84 Posts

Posted - 18 Jul 2006 :  23:44:38  Show Profile Send OB1 a Private Message

Folks, way back in March I said:
The Central Bank of the Gambia introduced a new series of upgraded currency notes for the D5, D10, D25, D50 and D100 denominations in July 1996, just before the presidential elections.
In 2001 new notes were again printed just before the presidential elections!
Q: And what did they do with the old notes?
A: Instead of burning them and keeping them out of circulation, they used them to campaign! Drowning the economy in an influx of excess money supply, and driving inflation way, way up! Why do you think we under reported our progress in the PRFG to the IMF?

Do not be surprised if Jammeh prints new money in the coming months!

Today the Observer says:
As part of continuing efforts to improve the security, durability and aesthetic quality of The Gambia’s banknotes, the Central Bank of The Gambia has introduced a new design legal tender banknotes, with effect from Thursday, July 27.
In a press release signed by the Governor of The Central Bank, according to the demands of the international best practice, Central Banks introduce significant banknote design and security feature changes every six to eight years. The Gambia’s banknote design upgrade was postponed because of the scheduled implementation of the monetary union in the West African Monetary Zone by July 2005, and the planned eventual introduction of a single currency for the Zone.
However, in May 2005, the deadline for the launch of monetary union was rescheduled to December 2009, and since then the Central Bank has been collaborating with its banknote printers, De La Rue Currency, to upgrade The Gambia’s banknotes.


BN

kondorong



Gambia
4380 Posts

Posted - 18 Jul 2006 :  23:55:49  Show Profile Send kondorong a Private Message
I AM EXPECTING A 200 DALASI NOTE BEFORE THE END OF THE YEAR.
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Janyanfara



Tanzania
1350 Posts

Posted - 19 Jul 2006 :  00:31:29  Show Profile Send Janyanfara a Private Message
Oh my god that would be too much for my mother.She cannot even have change for a fifty dalasis note in our village much more if she should take 200 note to the shop?
Where are we heading?
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kondorong



Gambia
4380 Posts

Posted - 19 Jul 2006 :  01:13:13  Show Profile Send kondorong a Private Message
FIVE DALASI CANNOT BUY ANYTHING BUT KEBBA DAFFA. SO WE NEED TO RELIEF OURSELVES WITH THE LOADS OF NOTES. A KILO OF MEAT AND BONE IS 20% OF THE SALARY OF A DRIVER OR EMPLOYEE IN GRADE ONE.
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Janyanfara



Tanzania
1350 Posts

Posted - 19 Jul 2006 :  01:44:48  Show Profile Send Janyanfara a Private Message
Kon,
You made me remember KEBBA DAFFA,I used to filled my pocket with that when I go to school for only "BURAI ANING BUTUT"
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kondorong



Gambia
4380 Posts

Posted - 19 Jul 2006 :  01:54:20  Show Profile Send kondorong a Private Message
quote:
Originally posted by Janyanfara

Kon,
You made me remember KEBBA DAFFA,I used to filled my pocket with that when I go to school for only "BURAI ANING BUTUT"



90% of our kids dont know what you are talking about. BURAI IS TWO BUTUTS. YOU COULD BUYT STUFF WITH TWO BUTUTS AND 25 BUTUTS WAS GOOD FISH MONEY. MY POCKET MONEY WAS 6 BUTUTS AND I COULD BUY BREAD AND BEANS WITH SOME CHANGE LEFT. THE GOOD OLD DAYS WHEN THE FIVE DALASI WAS EQUAL TO ONE BRITISH POUND STERLING. NOW IT IS ONE POUND TO 50 DALASIS A 1000% DEVALUATION
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ylowe



USA
217 Posts

Posted - 19 Jul 2006 :  04:07:46  Show Profile Send ylowe a Private Message
"Domoda" in private block where is Gambia heading to ?
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LEMON TIME



Afghanistan
1295 Posts

Posted - 19 Jul 2006 :  04:22:04  Show Profile Send LEMON TIME a Private Message
Gambia is heading to Hell,thats why i look like this monster WATCH.GAMBIAS NEW NOTE will be here just in time for the election campane.

There is no god but Allah
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kassma



334 Posts

Posted - 19 Jul 2006 :  04:26:52  Show Profile Send kassma a Private Message
quote:
Originally posted by LEMON TIME

Gambia is heading to Hell,thats why i look like this monster WATCH.GAMBIAS NEW NOTE will be here just in time for the election campane.



Gambia is not going anywhere lemon time, its president might, but not Gambia. we all have families there, how come so many of us are not resolved to do anything yet, does yaya need to cause a genocide before we are willing to do something. poor poor me.
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LEMON TIME



Afghanistan
1295 Posts

Posted - 19 Jul 2006 :  04:43:15  Show Profile Send LEMON TIME a Private Message
THATS A GOOD POINT BABY GIRL AS I SOMETIMES THINK THE SAME BUT ELECTION WILL NEVER REMOVE YAYA FROM OFFICE AS THE LIVING AND DEAD PEOPLE,JINN AND NONE GAMBIANS VOTING FOR HIM.REALLY PEOPLE ARE VERY POOR IN THE GAMBIA AND LIFE IS GETTING HARDER EVERY YEAR.

There is no god but Allah
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jambo



3300 Posts

Posted - 19 Jul 2006 :  15:09:48  Show Profile Send jambo a Private Message
Life is definately getting harder, on one of my trips bus fares had gone up from five dls to six for the trip from westfield to banul (thats another story) some parents were trying to change the childrens schools because this made a dent in the household budget.
another inrease is the tapala bread, some price change but i am not sure if this due to AU. Each change affects the local people.
Do not get me started on the price of petrol, it was 30 dls a litre and there were shortages. not just because of AU. It is 50 dls to a pound.
What is the purpose of printing new 200 dls notes, new money definately some of the old money was a criminal offense, the 5 dls note. Not nice
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kobo



United Kingdom
7765 Posts

Posted - 19 Jul 2006 :  18:19:02  Show Profile Send kobo a Private Message
Yes you told us envisaging and predicting about new notes introduced no later than before elections.
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blackerberry2004

69 Posts

Posted - 24 Jul 2006 :  22:18:33  Show Profile Send blackerberry2004 a Private Message
Oh my God, you are right on the money! When I read the Observer article, I immediately thought of your comments earlier on the Bantaba. I have to admit, I was a bit skeptical of your prediction. Jammeh is taking us for a ride. Before you know it, Gambians would need "saku haalis" to buy a loaf of bread. Youssou N'dour would have to change the lyrics of his song "haalis Nehna" because "saaku haalis" would be worthless.

This has underscored the need for the opposition to come together!
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kondorong



Gambia
4380 Posts

Posted - 24 Jul 2006 :  22:22:50  Show Profile Send kondorong a Private Message
quote:
Originally posted by blackerberry2004

Oh my God, you are right on the money! When I read the Observer article, I immediately thought of your comments earlier on the Bantaba. I have to admit, I was a bit skeptical of your prediction. Jammeh is taking us for a ride. Before you know it, Gambians would need "saku haalis" to buy a loaf of bread. Youssou N'dour would have to change the lyrics of his song "haalis Nehna" because "saaku haalis" would be worthless.

This has underscored the need for the opposition to come together!




Man that was an old track in the early 80s. I used to attend BAAL POUSSIERRE
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njucks

Gambia
1131 Posts

Posted - 24 Jul 2006 :  22:33:02  Show Profile Send njucks a Private Message
quote:
Originally posted by kondorong
THE GOOD OLD DAYS WHEN THE FIVE DALASI WAS EQUAL TO ONE BRITISH POUND STERLING. NOW IT IS ONE POUND TO 50 DALASIS A 1000% DEVALUATION



well this doesnt necessary have to be a bad thing. it is only a problem if wages don't go up in the same way. it can also be a problem if domestic productivity goes down for things like food, but many factors come in here. its not that simple.
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kondorong



Gambia
4380 Posts

Posted - 24 Jul 2006 :  22:40:43  Show Profile Send kondorong a Private Message
quote:
Originally posted by njucks

quote:
Originally posted by kondorong
THE GOOD OLD DAYS WHEN THE FIVE DALASI WAS EQUAL TO ONE BRITISH POUND STERLING. NOW IT IS ONE POUND TO 50 DALASIS A 1000% DEVALUATION



well this doesnt necessary have to be a bad thing. it is only a problem if wages don't go up in the same way. it can also be a problem if domestic productivity goes down for things like food, but many factors come in here. its not that simple.



Well its good that you understood the complexity. Naturally if inflation is going up and wages are supressed the following will likely happen

1. Cash flow will be a problem
2. Spending will be at a bare minimum
3. Savings will fly through the window,
4. Investmenst will be low
5. Eventually revenue generation will grind to a halt.
6. Public service will be bare
7. Law enforcement costs mounts
8. Social vices will be common.
9. May be another seargeant will be listening to marshall music at state house in the name of "rectification and good governance, probity and accountability"

Sometimes most people would say wages should not increase but his should be tyo an extent otherwise the economy will be dampened
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