Patti LaBelle ohbee nm ( obim ),
i am not really sure that
there is much value in averring that
entities
… including
parasitic?, extractive?, foreign governments
in the
interactions of nations / nation states …
can
.. and often? do ..
deploy
deceptive superficial appearances
to enable them
extract
.. purely? to their sole benefit ..
that which they require from
less discerning and less informed entities
e.g
developing nations,
third world countries.
i guess that if
one were to embark on
a search / research
to find examples
to back up the veracity of this assertion
one would see
examples that are historical
and
examples that are current.
with all due respect,
Patti LaBelle ormahleechar nm ( omalicha nm ) ( omalicha m) ( omalicham )
perhaps
we should defer such exercise(s) to future posts.
perhaps for now
i should restrict myself to the commentary that
oftentimes folks are taken aback
when
one says to them that
originally the Nigeria currency was indirectly based on gold.
their response to this assertion has often been along the lines of :
” Hang on a bit there, Sam.
what are you going on about ?
Nigeria once used the Nigeria Pounds as it’s currency.
that i know.
Nigeria was a colony of U.K / Britain.
that i know.
Britain / U.K Currency is .. and has been .. the British Pounds.
that i know.
the Nigeria Pounds was based on the Britain / U.K Pounds.
that i know.
the structure was that
2 Nigeria Pounds changed for 1 Britain / UK Pounds.
that i know.
this one that you are saying that
the Nigeria currency was based on gold
.. i have never heard of it before.
the Nigeria currency which was the Nigeria Pounds
was based on the British Pounds
and
exchanged at an exchange rate of 2 Nigeria Pounds = 1 Britain / UK Pounds
so,
what are you going on about here ?
i have never ever heard such a thing before.
in fact, Sam,
i have never heard that
the Nigeria currency was DIRECTLY based on gold
and
i have never never heard that
the Nigeria currency was INDIRECTLY based on gold either.
so
what do you mean by
saying that
originally the Nigeria currency was based on gold ? ”
at which point,
Patti LaBelle nnmah nm ( nmah nm ) ( nmah m ) ( nma nm ) ( nma m ) ( nmam ),
the rest of the conversation
usually goes like this :
SAM : folk, we are saying the same thing.
MY CONVERSATION PARTNER : Sam, we are not saying the same thing.
you made a wrong statement.
you made a statement that
has no basis
in historical data or history
and i spotted it
and
you are now saying that we are saying the same thing.
you made a wrong statement.
admit it.
SAM : let me explain what i mean
MY CONVERSATION PARTNER : go ahead.
SAM : the Nigeria Pounds was based on the British Pounds.
MY CONVERSATION PARTNER : Yes. Go on.
SAM : the British Pounds note was and is based on gold.
therefore,
since the Nigeria Pounds was based on the Britain Pounds
.. at the instance, initiation of the British Government
and
therefore also
at the
economic acceptance/financial acceptance/commercial acceptance of
Britain Financial institutions such as the Bank of England ..
it meant that
although the Central Bank of Nigeria had no gold store or gold vault of it’s own
( unlike the Bank of England
which had
and has
an extensive store / vault of gold )
since Britain
which based it’s currency on gold
had conferred on it’s colony Nigeria
the status
that
the Nigeria Pounds
( of a Nigeria Central Bank that holds no gold )
was/is equivalent to
half of the British Pounds
[ .. since if
2 Nigeria Pounds = 1 Britain Pounds
then
1 Nigeria Pounds = 0.5 British Pounds .. ]
the British Government had
by the activity of
conferring on the Nigeria Pounds
the status and privilege
that it is based on the British Pounds
conferred on it
a stability and strength
which derived/derives from
the British Pounds
which itself is based on gold
a structural circumstance
from which it derives value and strength.
it also meant
automatically
that
as the Nigeria Pounds was based directly on the British Pounds
which Pounds ( i.e British Pounds) was and is based on gold
that therefore
the Nigeria Pounds was indirectly based on the gold
on which Britain based it’s British Pounds note.
MY CONVERSATION PARTNER : aaah ! i see what you mean.
you are saying that
if ITEM B is based on ITEM A
then
if there is another ITEM C which is based on ITEM B
it means that
since ITEM B is based on ITEM A,
then ITEM C which is based on ITEM B,
is also,
by inference
based on ITEM A
even if this structural relationship
is not superficially visible to
the non-perceptive eye.
SAM : Yes.
MY CONVERSATION PARTNER : Ha ! Ha ! Ha ! Ha !
( laughter ) ( laughing )
[ TO BE CONTINUED ]
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