torsdag, december 10, 2009

 

Intressanta nyheter från Somalia

Jag läste just att den islamistmilis som kontrollerar södra Somalia tvingar penningväxlare att godta slitna och fula dollarsedlar såsom likvärdiga med nya, fräscha dollarsedlar.

Detta är mycket intressant och visar på en intressant problematik i ett land där det är oklart vad som är lagligt betalningsmedel. Man kan givetvis hävda att den islamistmilis som kontrollerar södra Somalia genom beslutet att tvinga penningväxlare att godta slitna dollarsedlar som likvärdiga med fräscha därmed har upphöjt US-dollarn till lagligt betalningsmedel i den region som kontrolleras av samma islamistmilis.

Å andra sidan kontrollerar i vilket fall som helst just den islamistmilisen endast en ganska liten region och vidare är det så att denna islamistmilis inte själv trycker några sedlar med ställning som lagligt betalningsmedel. Dessutom är det så att på den internationella marknaden slitna dollarsedlar betingar ett lägre värde än fräscha dollarsedlar. Detta gäller dock inte i länder där dollarn är lagligt betalningsmedel.

Jag gissar att det blir svårt eller omöjligt att upprätthålla bestämmelsen att slitna dollarsedlar måste godtas som likvärdiga med fräscha dollarsedlar ens i den jurisdiktion om vilken nu fråga är. Om det skall lyckas måste islamistmilisen förmodligen själv bekosta utbytandet av slitna sedlar och i så fall kan man lika gärna ge ut en egen till dollarn knuten valuta. Det verkar emellertid mindre sannolikt att denna islamistmilis' jurisdiktion är tillräckligt stabil för att möjliggöra skapandet av en ny dollarkonvertibel valuta med allmän acceptans. Det verkar också osannolikt att man skall lyckas bygga upp en väl fungerande organisation som klarar av att avgiftsfritt byta ut slitna sedlar och växelmynt utgivna av ett främmande land. Det skulle dessutom kosta en rejäl slant.

Alltså kommer förmodligen slitna dollarsedlar också fortsättningsvis betinga ett lägre värde än fräscha dollarsedlar och detta gäller oavsett vad denna milis beslutar. Det framstår också som ytterst osannolikt att denna milis kommer att lyckas skapa en egen valuta med allmän acceptans.

Således råder i Somalia monetär laissez-faire och vad resultatet av detta blir är oklart. Jag gissar dock att ganska snart nästan alla betalningar kommer att avvecklas via mobiltelefon och, så snart detta har blivit allmänt, betalningar huvudsakligen kommer att ha ett nominellt värde i guld.

Comments:
I just read that the Islamist militia that controls southern Somalia, forcing the money changers to accept worn and dirty dollar as equivalent to new, crisp bills.

This is very interesting and shows an interesting problem in a country where it is unclear what is legal tender. One can of course argue that the Islamist militia that controls southern Somalia by forcing money changers to accept worn out dollar bills as equivalent to fresh ones thus has elevated the dollar to the legal currency of the region controlled by the same Islamist militia.

On the other hand that militia, in any case, only controls a relatively small region, and also the fact is that this Islamist militia does not print any notes with legal tender status. Moreover, the fact is that in the international market worn dollar bills commands a lower value than fresh dollar bills. This is not true in countries where the dollar is legal tender.

I guess it will be difficult or impossible to maintain the rule that worn-out dollar bills are to be accepted as equivalent to fresh dollar bills, even in the jurisdiction in quyestion. If it is successful, the Islamist militia, must pay the expenses associated with the repalacement of worn notes and, if so, it is better to issue it's own dollar convertible currency. It seems less likely that the Islamist militias' jurisdiction is sufficiently stable to permit the creation of a new U.S. dollars convertible currency with public acceptance. It also seems unlikely that we shall succeed in building an efficient organization capable to replace worn-out banknotes and token coins issued by a foreign country. It would also cost a hefty penny.

So probably worn out dollar bills will continue to command a lower value than fresh dollar bills, and that regardless of what the militia decides. It also seems highly unlikely that the militias will be able to create its own currency with public acceptance.

Thus Somalia is in a state of monetary laissez-faire and what the outcome of this will be is unclear. I guess that pretty soon nearly all payments will be performed via mobile phone and, once this has got into common use, payments will have a face value in gold.
 
The above is an English translation from Google translate which I have improved only sufficiently to avoid misunderstandings.

It is by no means perfect English.
 
Shabelle: SOMALIA

KISMAYU (Sh. M. Network) – the Islamist fighters of Jubba regions have detained several dollar exchangers in the port town of Kismayu, just after violating the order of the Islamic administration in southern Somalia, officials told Shabelle radio radio on Monday.



Reports say that the arrest of the money exchangers came as they refused taking the slashed US dollars and its use which lastly brought the forces to jail them in the prison.



The Islamic administration of Jubba regions issued a declaration against refusing the rough and tore dollars recently which they order all the money exchangers and business in whole towns under the control of their administration in south of the country.



More people already took the declaration of the administration and used the tore American dollar through the port town of Kismayu and the other cities in Jubba regions in southern Somalia while some of them started refuting to abide by the order of the Islamic administration.



More Somali exchangers who refused and took no notice about the Islamic administration’s order about the US money were captured on Sunday sent to the jail.



Speaking to the media, Sheik Abu Hureira Abdurrahman, the deputy commander of the Islamist fighters of Jubba regions said that they captured more money exchangers saying they had violated the orders of the Islamic administration for taking rough and cut dollars through the town.
 
Skicka en kommentar

<< Home

This page is powered by Blogger. Isn't yours?