IGNORANCE IS NO DEFENCE
With Odongo Odoyo
I always had problems with my Math teacher. I could fake anything to avoid doing this subject from my Primary to High schools. I did not want anything to do with it until after my high school when l got interested but by that time, our time, it was too late. I am bringing this into fore because yesterday l met two friends. Executive friends in different locations. In fact they are in the class of Mathematics knowhow. My way of trying to know it and be an all-rounder almost landed me in limbo if one learned friend did not get involved in the talks. These two were bankers and they had their own interpretations. I talked to each differently in their own offices. My quest was to get to understand the gist of what our friends at the Central Bank were up to by intending to flood the market with money-bag or cash. I had no prior knowledge if the intention was to release hard or local currency but l was somehow aware of the figures intended to be released. Such a move if it was planned should mean well to the people, more so the general public. Somewhere, however, my friends who have been in the money world for long had their own reservations, true or not but l found myself in the middle of not knowing what to do or how to address the issue. One thing was for sure, the Central Bank’s move had its good and bad side which could only be identified later. The reasons given by the regulatory body was that if money was released into the market many people hoarding or keeping their cash under the pillow would come to deposit in the banks for the interests which was to be introduced. This is far too good, but at the other side of the coin it is risky releasing too much floating cash because at the end prices of commodities would skyrocket beyond the imagination of the common-man. I have told you that l feared Math and when l could not argue more my friends draw my attention to the world of socio-economic. Being who l am l did not want to be left behind. I wanted to say more over the matter but l must admit l did not manage because the economic terms were beyond my limitation. I am not that naïve and l know when to strike a deal and this was the time. I promised myself to go dig more about the releasing cash in the open market and its repercussions to the common-man who could end up being the victim of the high costs of living. The country has gone through that and is trying its best to come out of the situation. I promise to come back with full answer and analysis of the situation on the ground and asking my other friends to come to my aid with proper view on “money bag” in the market.