My thought is the “rich” may be virtually unaffected if they mostly transact in yuan and the “poor” bear the brunt as they are the ones transacting in cedi.
Thanks for the Specie Circular 1936 reference, I’d never heard of that before. Would be a good plan if they could pull it off, like you, I doubt they could given their level of corruption.
Thanks. I’m in Australia and have only vaguely heard about the Second Bank of the United States in passing, your reference helped me understand it bit more.
Against the yuan the cedi is doing about the same as against the dollar.
https://www.xe.com/currencycharts/?from=GHS&to=CNY&view=10Y
https://www.xe.com/currencycharts/?from=GHS&to=CNY&view=10Y
China has not been a good friend to Ghana, financially speaking.
My thought is the “rich” may be virtually unaffected if they mostly transact in yuan and the “poor” bear the brunt as they are the ones transacting in cedi.
Thanks for the Specie Circular 1936 reference, I’d never heard of that before. Would be a good plan if they could pull it off, like you, I doubt they could given their level of corruption.
Specie Circular was 1836. It was Andrew Jackson's declaration of war on bank notes (paper money).
It triggered the Panic of 1837, America's very first economic collapse.
Thanks. I’m in Australia and have only vaguely heard about the Second Bank of the United States in passing, your reference helped me understand it bit more.