14 comment(s)

Add comments

Anna-waa-i-kan @ 9/5/2008 7:22 AM EST  Emotional. Judgmental. Biased (if not biased, then it is very shallow). These mean weak academics. Words such as "fool", "morons", "immoral", "worst", "disgusting", or "wild" all DISCREDIT this paper.     mercano @ 11/8/2006 4:31 PM EST  Many still use the 500 shillings, counterfeit or real matters least to them as cost of living in Somalia is blessedly and extremely low.  I had to purchase 2 coconuts minimum, instead of one, as the smallest Somali bill is 500 shillings. Thus, purchasing 500 SoSh for 2 coconuts.  That was in Captain Laas, where the road from Marka and Shalambot Tees to Janaalle and Golweyn.  If you do your math at today's exchange rate, that is equivalent to $0.03USD. To use US currency in Somalia would require lots of US pennies that one needs to source for and the logistics would certainly not worth.  You still have the issue that our other brothers pointed out, i.e., a genuine and fair strategy and schedule to phase out the current Somali Shilling and replace with a new and convincing currency. As for new currencies, one can make suggestions, but who will purchase the existing bills, of course all counterfeit and non-pegged or backed?  I would suggest that the subject authority mint coins with real value such as silver, gold, etc,; of course its value must be slightly higher to avoid .... and allow market flactuation.  This would be the only thing that would assure the Somali consumer and the subject authority a genuine value.  The initial steps should, as some of my brothers and/or sisters noted to stop the flow of newly printed Somali Shillings.  In Bosaaso 400,000 USD equivillant of Somali Shillings is printed daily on an A4 papper off of a color printing photo copy machine, and it is the government of Puntland that does it so and distributes it across the already troubled and exhausted nation.  However, in my opinion, as you can see from my example, Introducing US dollars as a substitute to the probably poorest nation on our planet is far from a practical solution.  Nevertheless, I salute and thank my brother for his effort in posting this. Mercano     ajay @ 11/5/2006 8:59 PM EST  when i was reading the first paragraph of the article i was thinking of the same solution that ali suggested but i don't think changing the currency to US dollar is the best solution, outlawing the Somali currency till we have a central bank might be a good idea. If the currency is changed to US dollar poor people won't be able to survive they won't be people to get hold of the money since the supply of the US dollar will not be the same as the Somali currency, and let's the influence that it might bring to our country which at this poin doesn't need any outside influence.     seyd shariff @ 11/4/2006 11:17 PM EST  In actual fact this the hardest decission that the Islamic court can come up with. The value of money depends on the confidence that the people using it have in the currency, otherwise it is not worth the paper it is printed on. The best the should have done was to outlaw the new currency in the area that they control and educate the public, after all it is the poor herdman who will suffer. This will undermine the legality and the onfidence that the people have in it. Since this bussiness had been going on so long,any sudden change will the unintended consequence of affecting the poor illiterate hardworking people. The bussiness community and the landlords will never lose as they will either have dollar reserves or goods or which they will demand foreign currency. Therefore education and practical steps ,conscientious implemented will do the job, otherwise print also Ethiopian Birr, why not if they are doing this through their surrogate landlords. May the almighty Allah help the somali people     seyd shariff @ 11/4/2006 11:13 PM EST  outlaw the new currency to undermine it legitimacy, and shake people confidence.     feysal_yare @ 11/2/2006 1:01 PM EST  Brother ali osman i thank you for you suggestion that we shift from somali shilling to US dollar instead of using counterfeited somali shilling, but we have  to ask ourself's how can we shift to US dollar?. bro shifting to US is more harder than printing fake somali currencies in  Warlord printing shops in Bosaso, Mogadishu, Hargeysa  Baida, Malysia and Endonesia. in economic point of view shifting to US dollar will lead to more problematic to the fragile somali economy. as we know a country can earn hard currency such as US dollar through export,so somalia used to earn hardcurrency  mostly through  export of livestcok to gulf regions and now that export doesn't exist at all. after the collapse of somali central govement the role of Central bank has been out of function, so the question that which institution will be responsible for this huge and unbearble job?. it's the current fragile goverment or the ICU? the ICU that led the mogadosho's popular uprising can do only onething, that is no more counterfeited currencies from abroad or local printing shops.becouse they have no the right to issue new somali shilling let alone shifting to US dollar. in the case of the week central goverment they can't, becouse they are already engage this profit sharing bussiness. untill and unless we get some sort of goverment who can shoulder or represent the interest of the somali socoiety, plus central bank that can formulate good monetorty and fiscal policy. sorry to say that idea which you have suggested cannot work. i my self have been trying many times to formulate a plociy that at least encourages to halt this fake  business. unfortunately i wasn't able to come up with any fruitful policy and my conclusion was that let there be somali national goverment not like the TFG, than solution is at the door.     warsade @ 11/2/2006 6:51 AM EST  The lost Somali identity is struggling to get back including Somali Shillings. Do not worry much,  fake will not last long…… count days but let us start now and not late to reorganize the normality and stability for our nationhood.     Abdik @ 11/1/2006 9:21 PM EST  By the way, does anyone think the courts will soon come up with their own money?     Abdik @ 11/1/2006 9:20 PM EST  Garpage. Poorly written too     qig504 @ 11/1/2006 8:51 PM EST  Ali you have got it right. It is bit problematic and bit unfair to those of us who are already neck deep into it. I have those Trillions of it including the conterfeit ones. However for the greater good of the Somali republic it has to be banned with clear time frame and guidelines. Now it is Puntland and the Ethiopian secret service engaging this distructive activities to destry the thriving and ever growing Somali businesses inside and abroad. Tomorow it will be free for all who are willing to engage it, and Somalia alone is going to pay the price. Imaging Somalia funding its own enemy [Tegrean Military occupation] in BAIDOA through exchanging their conterfeit Somali shillings with the little hard currency the Nation has in!!. It is the worst thing we could ever do to ourselves and its happenning right now as I am righting       ali812 @ 11/1/2006 1:00 PM EST  Although I agree with the brother's article.   I think he made the process too simple.  You cant simply stop a currency from being used. There are many steps that need to be taken in order to implement the u.s or euro money.  One simple question would be, what will happen to average somali's that currently have the somali shilling?  I mean, what steps would be taken to transition the somali shilling out of the market.  What if they had the fake shilling, are we simply supposed to give them a real u.s dollar in exchange?     hugo @ 11/1/2006 11:08 AM EST  I love this author he is true Somali. Ecuador and Panama have also opted for the US currency and I agree abolishing the Somali Shilling until a Federal government that controls all of Somalia is established. A warning for the Islamic Courts as well.     Sheikhnor @ 11/1/2006 10:55 AM EST  Bingo brother Ali Osman. Puntland-born tycoons backed by ex-Puntland warlord Abdullahi Yusuf are mostly the culprits of this bussiness. Do you recall that our suppposed president signed one those mysterious deals for his nephew to print couple hundered trilion shillings in Indonesia in exchange of only 30% of that fake currency? The documents are widely printed on Somali websites. Another reason why warlord Abdullahi Yusuf shouldn't be evicted out of Baydhabo and sent back to his Puntland home.     lasdhooble @ 11/1/2006 10:21 AM EST  Well, I hope, following your thoughtless suggestions about the Somali Shilling, you do not claim to be British or American and get rid off your Somali identity!!!!!!!!

Can't login ?
Account not activated ?? if so please email your account(username,email) info to [email protected]
Subject = Activate Account

Log In User Name: * Password: * Remember me next time. Register Forgot Password

Username:
You must login first..
  
Click Preview, to preview before submit.