I have no idea how economics work, can someone explain to me why currency type matters? I know currencies can fluctuate in value and what not but why does it matter which one is being used because they can be exchanged assuming that you aren’t planning on holding on to the money for a long time. Why is it better for Africa to have its own currency and how will that hurt the west?
As far as I understand it is if you force everyone to use the dollar for things that countries need like energy/oil. And the US is in control of the money supply (how much gets printed/circulated). Then you basically force everyone to approach the US diplomatically, because you will need dollars in orders to get your oil/energy.
Wasn’t there some theory that Gaddafi got assassinated because he wanted to start a rival pan-African currency?
Not much of theory as opposed to literal reality comrade
https://www.pambazuka.org/pan-africanism/let%E2%80%99s-never-forget-why-muammar-gaddafi-was-killed
I have no idea how economics work, can someone explain to me why currency type matters? I know currencies can fluctuate in value and what not but why does it matter which one is being used because they can be exchanged assuming that you aren’t planning on holding on to the money for a long time. Why is it better for Africa to have its own currency and how will that hurt the west?
As far as I understand it is if you force everyone to use the dollar for things that countries need like energy/oil. And the US is in control of the money supply (how much gets printed/circulated). Then you basically force everyone to approach the US diplomatically, because you will need dollars in orders to get your oil/energy.
Adopting a new currency would circumvent that