Legalising "Illegal Money" In Most African Countries; The Diverse Effect?

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The way different people acquire their money is how they often spend it. A crooked government official embezzling a country's money or funds will somehow try to put money in real estate, own landed properties in the name of other people so that these wealth will not be traced back to them. They open up foreign bank account and bounce the money they have stolen from one country to another, depleting their country while enhancing the economy of another nation.

Sometimes they buy foreign assets, invest in things like gold and all this means through which these monies are stolen never goes back to enriching the general populace. Money it itself can serve several purpose; the intent placed on it can create proverty or richness, a feeling of plenty or a feeling of scarcity.


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The cost-push inflation that eats up the finances of people is what enriches those who control prices. A very terrible economics condition might be bad on some certain people but absolutely good on on the people who brought about it in the first place.

People create problems to benefit from the people who would experience the effect of these problems and even a viral threat as Covid-19 will still be monetized and the money from it will enrich some few powerful people in the world. This goes to show that the intent of people is how money becomes a tool to ruin others, this is why sometimes the power to create money in the hands of government is the beginning of the ills which the world is currently in.

A regular internet fraudster would go to the market equipped with stolen money of which he never worked a day for and he would buy commodities more than the price they're actually worth or valued for, making the sellers of the products automatically skyrocket the prices of these goods and services simply to suit the valuation of that first buyer, affecting the people who makes their money from honest means.

These group of people selfishly tweak the economy, tweak price action even in mixed markets where there is competition. In the mind of the seller, everyone eventually makes money through fraudulent means so why shouldn't he too have a cut from these "illegal money" flying around?


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This creates a certain sense of greed and then people begin to get greedy, artificial scarcity kicks in, maniplulation of prices begins and then the market is adjusted to suit the "rich and willing". Means of making money is important. From the banking system to the other economic sector in a nation like Nigeria.

The money is dirty and the people handling it are using every means to enrich themselves without giving a little back to the society of which they come from. When wealth is used to create wealth there is no way it wouldn't create employement, put cash into the hands of people who are readily available to work. Even if embezzled funds are used to open up ventures one way or the other it'll reduce unemployment.

Nigerian billionaires are very private people, they know they're dirty; the have legslised their dirtiness by being in liege with the government. If its possible for them, they would prefer automation to actually employing real people to work for them this is because their the means of their wealth is directly tapping from the ignorance of the masses to acquire the wealth they have.

This is where it becomes worse; they don't give back a cut to the people they have stolen from, rather they bury these wealth, non-functional in places where it wouldn't yield any dividends. Means of income is why many african countries will forever be poor on the surface. The rich are legslised their illegal money liased in government patency and this is why blockchain is a threat to most African governments.




Interested in some more of my works?

Ode To Endless Belle (An Original Poetry)
Why "Value Quota System" Will Determine Who Is Rich Or Poor In The Future
The Art Of Pricing & The Variables That Has Made It Impossible In The Current Market
Being Receipients Of Criticism; Understanding Judgementalism From An Objective Point Of Way
The Diverse Learning Opportunities Which We're Afforded In Our Different Life Races.


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My name is @Josediccus, a young Nigerian student who is a Vlogger, A Psychologist, Poet And Sports Writer/Analyst. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers


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4 comments
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Similar stuff happens in my country. It sucks! This is why Decentralization is extremely essential to upgrade the current financial system.

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Its crazy, most of the money in the world is dirty and the government Wants to keep it this way, legalising poverty in other to keep enriching themselves.

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That's is why in this my country a government will squander the money they aren't working for and still terrorize the people working to feed them. What a sad nation.

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