Consequences of this South Africa Unrest can lead to Somaliland setting very quickly.A money changers on street in a Hargeisa, capital of the unrecognized breakaway of Somaliland its north western Somalia. They convert money from their own bank and took it to the street to do Foreign Exchange which they benefit shilling when they do $100 change into shilling

SA will definatily be like #Somalia after #SAShutdown
In Somalia They Are Now Selling Money
A lot of people were shocked by this action happening in Somalia, they are now selling money. Aren’t they scared of criminal activities, just imagine someone walking around with a wheel barrow full of cheese, that’s dope.

What about this money market, they are in a place where they sell revenue, like here in South Africa when they are selling veggies and fruits on the streets then they are selling 💰. What does ring to you when this happen?

Criminal activities, doesn’t this boost criminal activities? From the research on Somalia criminal records, the country have 57.7 percent on crime rates. They have rapidly increased due to the ongoing wars in the country. So this could risk your money business like you selling money are there are fights.

The money selling though is called Foreign exchange, from my view this money selling business means a lot to people when it happens in the bank but then the Somalia people just do it without involving the banks. It is a matter of buying and selling currencies, let say you are having a $500 then the dollar is high you will exchange it with South African Rands giving you a certain profit.

This is what we call FOREX, where nowadays people are showing off on social media. But the reason it does not make sense to us it is because it usually done on the brokers from laptops, phones and stuff not in hand like what Somalia people are currently doing. For example let say you visit America from South Africa for a lovely holiday with Friends having R50000 and you convert it to dollars making $3481.45 for all costs then your friend pays your costs and you come back with your money. You can decide when to buy South African Rands only when the price of a rand is low and a dollar is high ten you can make a lot of profit.

This is what the Somali people are doing, Exchanging SOS (Somali Shillings) to dollars or dollars to SOS depending on the rate. Apparently they sell money on Ethiopian Border exchanging Ethiopian birr with SOS. This happens for Tourists or people moving in and out of the border. They go to the bank right for Foreign exchange, so when doing it with street Vader’s maybe it gives them a certain advantage.

And It also happens on the Somalian Border with Kenya where the exchange between Somali Shillings and Kenyan Shillings (Ksh). Let us say an exchange in the bank is high, which one will you choose it is Obvious you can choose street Vader’s cause they always have an advantage. But security worries me a lot. Do you think this is safe enough to be done on the street or on public during these hunger times where people are hungry for money?

just to pick Up some comments from Twitter, people view on this before you lay yours on the comment tab.

#SmokeSignalsVol1: Wooow that is really bad.. they are showing they are failed state on a extreme level.. Venezuela ain’t got nothing on them.. but funny how Somalians have a Super God Arab complex and look down upon Bantu Black Folk.. The grind don’t discriminate Karma Visits every body.

A money changers on street in a Hargeisa, capital of the unrecognized breakaway of Somaliland its north western Somalia. They convert money from their own bank and took it to the street to do Foreign Exchange which they benefit shilling when they do $100 change into shilling

That Foreign exchange. I have seen that story before on CNN and the reporter exchanged $200 and he was given a wheel barrow full of money and some guy carried it for him to the hotel.

Now it is your Turn to comment?

SBS

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.