americans are even moving to South Africa because it's affordable for them with their dollar in South Africa,they are living a comfortable lifestyles this side that they wouldn't have been able to in America ,they say it themselves.
It would be the single worst economic decision we could make. Arguably more costly to our economy than corruption is. Analogies and anecdotes aside, Pen, it’s impracticable and illogical. Respectfully 🙏🏽
Yea it's a good idea that can work very practical within small businesses because it's a idea the business can grow with but with the high unemployment rate in the country,using that kind of negotiating tactics will only lead to you being unemployed with your kfc, Mcdonald or Nando's unless labor unions are involved then maybe that can be a different conversation
my country South Africa is a cash cow too the west and some in the east . The cow does not decide how and when it gets milked . when the masses decide too awake then and only then theses types of freedoms can be had
what makes things difficult for African countries is the exchange rate .... who came up with this exchange rate thing? why was it necessary. in the beginning, the trade was for goods for goods, and the exchange rate was made to take things for free from Africa, Free in this way other countries would buy from Africa using papers valued at higher interest rates than SA papers for example and take the real thing like Gold send it to their country to clean and polish it and price it at a higher value so that the country where it was mined can't afford it anymore and then sell it back to them, things that are made to suppress other countries is the loans and fake money(papers). The exchange rate is not necessary in the real world it is only necessary when one needs to rob another person.
This is the reason mos there's BRICS discussion, also why must we follow dollar instead of determining the value of our own currency. UK isn't considering using dollars, Germany isn't also going to change their currency to dollars because they can rate their currency how they want. On a lighter note, thanks for the good work of donation bro.
True that dollar is not there to make countries strive. It's there to make America to bully other countries. Sometimes I don't know how this guy think but what can't we say everyone have opinions.
Because our reserve bank will need to keep up with the demand for the dollar in our economy. And the USA will have the power to sanction us anytime. By withholding the supply of the dollar.
We need to learn to price intangible things in Africa, only lawyers amongst us know how to sell and value intangible things. Value addition is just addition of intangible value to physical raw objects.
It's not necessarily about the dollar but what "backed" the dollar and it could non-existent thing purported as if it exist and it's US that is capable of that such rumours of wars and artificial wars and actually wars. We should establish the basis of abondoning our own rands to dollar (US influence on trade policies and foreign affairs)
@Penuel, you are saying exactly what BRIKS said. Except BRICKS is not proposing to use the american dollar as the exchange medium cuz that would benefit the US anyways but a new currency that benefit everyone.
dont think trading in the dollar will serve our interests, it only benefits the country that owns the dollar, I rather consider the dollar parasitic to anyone else either than America. They have had a lot of benefits, form reserve currency status which does not make it fair for other nations. I disagree, I'm for brics and the abandonment of the dollar.
1. I disagree on the issue of adopting the USD and abandoning the ZAR. 2. I agree on the issue of pricing. Whatever the international market values a certain product or service, we should price according to that at the ZAR equivalent and give locals (SA) a discount.
I hear you Pen, but this all comes back to understanding Value. I think the Western countries have understood very well their value in this universe. Pricing is a very hot topic. Until we are decolonized and understand our value we are fighting shadows.....
@@marnusolivier5995 Perhaps, but all that was driven by propaganda, deception and suits behind closed doors. By the way things are headed, the dollar will fall and backed by minerals, Russia DR and SA will lead. Europe is next to fall after the US because they even broker. Everything will unfold by 2030 man.
I'm going through the comments I don't think a Lot of people are Hearing this...just think about it logically somewhere someone in the world wakes up and decides that dollar is worth more than any currency...decides rand lost value and we have to just accept...What pen is saying let's leave our own take theirs so that when that person wakes up and says dollar is worth more we're on the same ground as them. When they say lays cost a dollar we also buy them at a dollar not this stupid shit of us having to multiply by 20 in order to buy the same lays
But why would we move to a dying currency as a country? Especially in 2024? USD isn't the solution. 1 The country is in more debt than they're worth. 2 More countries are ditching it as its trade currency. 3 American keeps adding enemies unprovoked. 4 Once US bonds are ditched the $ will be worth less than nothing. 5 The US dollar isn't backed by anything. This plan can work but why don't we: 1 perhaps look for a more stable currency e.g. The Kuwaiti Dinar which is the strongest in the world and well-backed. 2 Create a stablecoin and peg it against something limited. 3 Be independent from the Western countries by creating supporting local inventions. 4 Move the Rand away from supply and demand to make it stronger, the Rand was performing well when it had the gold standard and pegged against the GBP.
Mara Penuel aren’t you watching what’s happening around the world? We are watching the slow decline of western dominance but wena you want to jump onto that sinking ship. We should be looking at ways reduce our dependence on the west. Finding ways to trade amongst our African countries so that we don’t feel the the impact when the west finally falls. I think the only currency worth abandoning the rand for is the Chinese yen but this dependence on others is what will keep us at the bottom.
We Africans are not the same we don't have the same capacity as the West when it comes to advanced economies and innovations like the West, and no the West is not declining what is happening is part of a global problem the reason why China and other 3rd world nations like Africa and other regions are the fastest growing economy is because they are like children becoming teens and soon adults you see children grow very very fast only 17 years is all it takes to grow now compared to an adult that's 50 years and you can't tell if someone is 20 or 26 or 32 or 44 it becomes difficult to see a full growth adult growing, the difference is that the west has already over developed not growing in the same level like another region we shouldn't even leave the rand but rather create another currency packed with something valuable I don't think we should take the example of China, China always lies about its economy and did you know that China uses the yen and the USD as their currency? That's why they have the power to loan to other poor countries we shouldn't take the example of China or Russia, isolating Africa from the West is no good the world is not meant to be divided just because certain groups of people have different ideologies, look at North Korea perfect example I think South Africa should look at examples of countries like Singapore, South Korea, this country don't have wealth or resources or they don't and didn't had but look how successful they are but they do one thing not two but one things only and very well
using the dollar won't be the same for us as it is for the American citizens . The dollar means nothing we all know that . What we should do is take ownership of our minerals ❤ go watch the interview of gayton mckenzie on podcast & chill
But that basically means a greater vulnerability to foreign influence?? So the cons greatly out weigh the pros, a great man once said I'd rather live on my knees than die on my feet so no to the dollar
Would that make any difference? How would it be different from the Canadian and Australian dollar, which are both valued at less than the USD? If we link our currency to the USD on a 1:1 ratio, what stops us from doing so with the Rand, if at all possible?
Ummm...the dollar is going downhill. I know you do a lot of research so I'm surprised you don't know this. Our debt is 34 trillion and our credit rating has dropped. Listen to Ray Dalio if you haven't already. What goes up must come down and the US is on a downward trajectory.
Than what tje purpose of being part of BRICS 😂. Its only 3rd world countries that do that hell now stick with ZAR at some point in time in Life the ZARA WAS stronger than $
you have so little faith in our country, why don't you instead go to the US? why should we always be aided by other countries, Panuel, you can do better rather speak about something else
There's not a single country outside the US that uses the dollar that is thriving
Do you know why?
Why
@GodPenuel if that was a smart move then the Europeans would do it. Their economy is struggling to
@@Luv_XLN If Europeans were smart, their economy wouldn't be struggling. Don't assume they are smart.
You are not answering the gentleman's question and I think its very valid. @@Penuelism
americans are even moving to South Africa because it's affordable for them with their dollar in South Africa,they are living a comfortable lifestyles this side that they wouldn't have been able to in America ,they say it themselves.
It would be the single worst economic decision we could make. Arguably more costly to our economy than corruption is. Analogies and anecdotes aside, Pen, it’s impracticable and illogical. Respectfully 🙏🏽
Yea it's a good idea that can work very practical within small businesses because it's a idea the business can grow with but with the high unemployment rate in the country,using that kind of negotiating tactics will only lead to you being unemployed with your kfc, Mcdonald or Nando's unless labor unions are involved then maybe that can be a different conversation
adopting USD will mean that we will be at the mercy of the FED monetary policies.
We're already at their mercy. They are our biggest trade partners.
my country South Africa is a cash cow too the west and some in the east . The cow does not decide how and when it gets milked . when the masses decide too awake then and only then theses types of freedoms can be had
what makes things difficult for African countries is the exchange rate .... who came up with this exchange rate thing? why was it necessary. in the beginning, the trade was for goods for goods, and the exchange rate was made to take things for free from Africa, Free in this way other countries would buy from Africa using papers valued at higher interest rates than SA papers for example and take the real thing like Gold send it to their country to clean and polish it and price it at a higher value so that the country where it was mined can't afford it anymore and then sell it back to them, things that are made to suppress other countries is the loans and fake money(papers). The exchange rate is not necessary in the real world it is only necessary when one needs to rob another person.
The most important thing is just create our own system, with our own policies
The book I swear by is 'The confessions of an economic hit man by John Perkins'
This is by far the worst Idea I've heard from Penuel.
Wont us changing our currency from Rands to Dollars be determined by the amout of Dollars we have in our reserves??
This is the reason mos there's BRICS discussion, also why must we follow dollar instead of determining the value of our own currency. UK isn't considering using dollars, Germany isn't also going to change their currency to dollars because they can rate their currency how they want. On a lighter note, thanks for the good work of donation bro.
True that dollar is not there to make countries strive. It's there to make America to bully other countries.
Sometimes I don't know how this guy think but what can't we say everyone have opinions.
Won't the dollar come with backdooor agreements
Why would it?
Because our reserve bank will need to keep up with the demand for the dollar in our economy. And the USA will have the power to sanction us anytime. By withholding the supply of the dollar.
Pen elimnyama, look at Zimbabwe. Sanctions are actually a blessing because you become self conscious self sufficient
We need to learn to price intangible things in Africa, only lawyers amongst us know how to sell and value intangible things. Value addition is just addition of intangible value to physical raw objects.
Very true.
It's not necessarily about the dollar but what "backed" the dollar and it could non-existent thing purported as if it exist and it's US that is capable of that such rumours of wars and artificial wars and actually wars.
We should establish the basis of abondoning our own rands to dollar (US influence on trade policies and foreign affairs)
@Penuel, you are saying exactly what BRIKS said. Except BRICKS is not proposing to use the american dollar as the exchange medium cuz that would benefit the US anyways but a new currency that benefit everyone.
Controversy sells and it will give you more vierwership, keep stirring it Pen.
I'm not being controversial.
Viewership is very dangerous I swear
Thanks for trying at least Penuel . I’m even scared to try and help you
Sorry my economics is not that advanced, so how does SA adopt the USA dollar and its value 😮?
dont think trading in the dollar will serve our interests, it only benefits the country that owns the dollar, I rather consider the dollar parasitic to anyone else either than America. They have had a lot of benefits, form reserve currency status which does not make it fair for other nations. I disagree, I'm for brics and the abandonment of the dollar.
1. I disagree on the issue of adopting the USD and abandoning the ZAR.
2. I agree on the issue of pricing. Whatever the international market values a certain product or service, we should price according to that at the ZAR equivalent and give locals (SA) a discount.
I hear you Pen, but this all comes back to understanding Value. I think the Western countries have understood very well their value in this universe. Pricing is a very hot topic. Until we are decolonized and understand our value we are fighting shadows.....
Dont worry guys
Come 2030
R1.00 = $8.00
More likely 1$=R80
@@marnusolivier5995 what backs your prediction?
Short and long term trends. Rand has been weakening to the dollar by 6% a year since the early 1970's
@@marnusolivier5995 Perhaps, but all that was driven by propaganda, deception and suits behind closed doors. By the way things are headed, the dollar will fall and backed by minerals, Russia DR and SA will lead. Europe is next to fall after the US because they even broker. Everything will unfold by 2030 man.
Ay wena monna we need that dollar gone... IMF is owned by individuals even the government owes them
I'm going through the comments I don't think a Lot of people are Hearing this...just think about it logically somewhere someone in the world wakes up and decides that dollar is worth more than any currency...decides rand lost value and we have to just accept...What pen is saying let's leave our own take theirs so that when that person wakes up and says dollar is worth more we're on the same ground as them. When they say lays cost a dollar we also buy them at a dollar not this stupid shit of us having to multiply by 20 in order to buy the same lays
And that will give more power to the Americans.
I would be happy if they did not pay you to do this.
Yes linking to their currency and pricing it at their current that will work.
But why would we move to a dying currency as a country? Especially in 2024? USD isn't the solution.
1 The country is in more debt than they're worth.
2 More countries are ditching it as its trade currency.
3 American keeps adding enemies unprovoked.
4 Once US bonds are ditched the $ will be worth less than nothing.
5 The US dollar isn't backed by anything.
This plan can work but why don't we:
1 perhaps look for a more stable currency e.g. The Kuwaiti Dinar which is the strongest in the world and well-backed.
2 Create a stablecoin and peg it against something limited.
3 Be independent from the Western countries by creating supporting local inventions.
4 Move the Rand away from supply and demand to make it stronger, the Rand was performing well when it had the gold standard and pegged against the GBP.
Mara Penuel aren’t you watching what’s happening around the world? We are watching the slow decline of western dominance but wena you want to jump onto that sinking ship. We should be looking at ways reduce our dependence on the west. Finding ways to trade amongst our African countries so that we don’t feel the the impact when the west finally falls.
I think the only currency worth abandoning the rand for is the Chinese yen but this dependence on others is what will keep us at the bottom.
We Africans are not the same we don't have the same capacity as the West when it comes to advanced economies and innovations like the West, and no the West is not declining what is happening is part of a global problem the reason why China and other 3rd world nations like Africa and other regions are the fastest growing economy
is because they are like children becoming teens and soon adults you see children grow very very fast only 17 years is all it takes to grow now compared to an adult that's 50 years and you can't tell if someone is 20 or 26 or 32 or 44 it becomes difficult to see a full growth adult growing, the difference is that the west has already over developed not growing in the same level like another region we shouldn't even leave the rand but
rather create another currency packed with something valuable I don't think we should take the example of China, China always lies about its economy and did you know that China uses the yen and the USD as their currency? That's why they have the power to loan to other poor countries we shouldn't take the example of China or Russia, isolating Africa from the West is no good the world is not meant to be divided just because certain groups of people have different ideologies, look at North Korea perfect example I think South Africa should look at examples of countries like Singapore, South Korea, this country don't have wealth or resources or they don't and didn't had but look how successful they are but they do one thing not two but one things only and very well
using the dollar won't be the same for us as it is for the American citizens . The dollar means nothing we all know that . What we should do is take ownership of our minerals ❤ go watch the interview of gayton mckenzie on podcast & chill
But that basically means a greater vulnerability to foreign influence?? So the cons greatly out weigh the pros, a great man once said I'd rather live on my knees than die on my feet so no to the dollar
But Penzo.... Brics will collapse the Dollar mos
I doubt
@@tadiwanashechikanya9712 Please substantiate your doubt
There is currently no proof of this.
@@Penuelism Granted! Yet we can't be on the goal to oppose and we also think we may not at the same time
@@Sifunukwazi_Dingiswayo The point is to align with a strong currency so we can win.
Foreign currency is dangerous
How?
@@kamvambangata3429you are not in control of it. They can sanction you easily and make your life extremely miserable
Farmer gets r2 per cucumber delivered shop sells it for r12 ,6x shameful and cruel
They call it business... it's actually theft.
Would that make any difference? How would it be different from the Canadian and Australian dollar, which are both valued at less than the USD? If we link our currency to the USD on a 1:1 ratio, what stops us from doing so with the Rand, if at all possible?
I would support adopting the British Pound than the dollar as it's currently the most expensive currency as far as I know
Kuwaiti Dinar is currently the most strongest. Kuwait, an Arab country in the middle east.
🤣🤣🤣🤣 avu hlekisa koda
and where do you place the growing BRICS agenda of dellarization?
President Milei is onto this stuff.
Dope haircut
Ummm...the dollar is going downhill. I know you do a lot of research so I'm surprised you don't know this. Our debt is 34 trillion and our credit rating has dropped. Listen to Ray Dalio if you haven't already. What goes up must come down and the US is on a downward trajectory.
Why, what about BRICS?
Interesting to see you know Karan Beef
Hi pen my brother i think a better idea is 2 peg the value of rand to the us dollar
Can't you have a discussion without mentioning the west. In the meantime you failed mention China's role. Why
The Nchebe way.
Hey Mr Pen, You must think of becoming a South African president.
Not at all. Politicians frustrate me.
Nonetheless, Your level of thinking is inspiring. Thanks for enlightening us.
@giftritompikanisi3774 thank you very much 🙏🏽
Pen, when are you coming to Pietermaritzburg?
What???? Not way 👎🏾👎🏾👎🏾
Than what tje purpose of being part of BRICS 😂. Its only 3rd world countries that do that hell now stick with ZAR at some point in time in Life the ZARA WAS stronger than $
you have so little faith in our country, why don't you instead go to the US? why should we always be aided by other countries, Panuel, you can do better rather speak about something else
Very passionate but unfortunately not well researched idea
@riyaazarensefwfs7220 You said nothing but opposes for its own sake.
South Africa should abandon the rand for Bitcoin.
No Penuel , you are so wrong my brother . But at least you’re trying to be a thought provoker , what’s your what’s app number ?