This post was inspired by a Jamaican friend, she has the most awesome body on that side of the world. I can stare at her DP for hours….damn!! Oh sorry for the side tracking. How did she inspire this post? We were having a convo about Jamaica and the opportunities there their currency etc. We joked around about me buying her a better bikini cos her cleavage gives me migraine. We did the calculation and all that and then I remembered what ma dad and friends usually say “Malota you don’t value money”. Here i was chatting with someone about money and what a jamaican dollar can do and what it cant.
I don’t agree totally with them but I accept that until recently I did not know its worth but that does not mean I did not value it (or does it mean the same? Ah well). I now see sugar as gold dust (equivalence) salt, buildings, cars etc as gold bars. I never view anything without seeing money. I even view humans as money. I see humans as a huge untapped source of riches..I am talking about ideas, talents/abilities that is lying dormant. People with so much potential and yet they aint using it, either they are scared or have not discovered it. There is so much we as humans can achieve, so much wealth to be created, but do we know our value? Do we know that if we invest in ourselves we will return better yields? Okay I did not know that, but now I know..I don’t think I need to tell you the ways to invest in yourself..When we start viewing ourselves as gold (what gives money its value) we will know our worth. The way we live our lives will change..we might not make crazy money or money but we will treasure what actually makes that money. OURSELVES.
Sorry 😦 I digressed again. I know I am not the only one who finds it easy doling out (yeah as if its charity) 5 Ghc to a taxi driver as payment for “dropping” but 5 Ghc is a huge amount of money, its 50000 cedis.. This redenomination has made Ghanaians view money differently..we “foolishly” compare our currency to the dollar. $1 = Ghc 1.50 but its truly $1 = Ghc 15000. You can say its been redenominated but the value is still the same, so why should I spend 50000 on a short journey, not to the next city but within the same city. What does the Bank of Ghana say about the redenomination and its value;
Does it mean that the cedi is going to be devalued or revalued? No! The old and new notes and coins will have the same external value. For example, if the day’s exchange rate between the cedi and the dollar is $1=¢9,200, then the exchange rate of the Ghana Cedi (GH¢) is:
¢9200=G¢0.9200=92p=$1 or GH¢1=¢10,000=$1.087.
Our currency was redenominated because of the decline in the value of our currency, it was done to make us have faith in the cedi and in the central bank. No government wants to lose control over its economy, lending rates etc. Once your people start using other currencies, inflation skyrockets.
Ghanaians in general don’t value money, I can say without a shadow of a doubt that most young people don’t equate the new cedi with the old when purchasing stuff. If you do that you will realize that prices have risen crazily these past few years but because of the redenomination its not very visible to most (rich folks).
I dread the day that I might buy bread for a 10000 Cedi. I can’t say I won’t pay for stuff I buy but I can draw the attentions of the future leaders, let’s do something about it. I might be horribly wrong but this is the main purpose for it being public..the comments might correct me and educate me. All comments are welcome
This post was supposed to come after the one I am currently working on..its about Religion n its disadvantages. How it stifles…..
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