Governments and their irrelevant projects just to steal public funds

[Strongkored]

What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?

Meanwhile such is been an undeveloped country which the implemented bill for such valueless project is big enough to create infrastructures with the potentials of building the masses with valuable skills and otherwise a national financial revenue.

Do we assume it is still one of the money laundering strategies that the government intentionally creates loopholes in other to steal the public funds? Because even after the implementations and execution of Such projects, the same governments clamours that the nation has run out of funds after giving accounts of those irrelevant executed projects.

Changing the design of a country's currency is not to increase the value of the currency but for other reasons, for example for security because the old currency is proven to be easier for criminals to counterfeit because this often happens in my country where counterfeit currency circulates and the public suffers losses because they cannot distinguish between genuine and fake, and also usually changes in images are accompanied by changes in the materials used for printing so that the currency becomes more durable and less easily damaged because better materials are used.
Unfortunately, things like this are often used by corruptors to commit corruption, but actually countries with high levels of corruption do not need things like this to commit acts of corruption, and as citizens we should be able to trust our country's government more even though it is difficult because we know they often commit acts which is detrimental to us small communities.

[dezoel]

What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?

Can't that be a good strategy to eradicate black money and fight money launderers and other criminals hoarding money from illegal activities and other illicit works they do around the country? If the currency or the notes have been modified, people having cash will need to visit banks to get their funds exchanged and get the new notes, and those who don't do that within a specified date would lose value for the money they have.

When such things happen, people who have stored a lot of money through illegal businesses would barely be able to come out and exchange all their cash for the new ones because that would reveal what they have been doing and how much money they have been hiding.

[Mauser]

What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?

Meanwhile such is been an undeveloped country which the implemented bill for such valueless project is big enough to create infrastructures with the potentials of building the masses with valuable skills and otherwise a national financial revenue.

Do we assume it is still one of the money laundering strategies that the government intentionally creates loopholes in other to steal the public funds? Because even after the implementations and execution of Such projects, the same governments clamours that the nation has run out of funds after giving accounts of those irrelevant executed projects.

Usually, government projects are only for a small part of the population and isn't going to do much good for the majority. When it comes to government projects the main goal is to make it seem as cheap as possible so there won't be much opposition to it. Once the project started the costs are going to balloon and in there much anybody else can do, because stopping the project would make it seem like a fail and lead to a public outcry. I remember reading about a study that found out that almost all the large-scale government projects in the western world ended up over budget. It's so much easier to make decisions with money that you don't own and I wish there was more oversight over how inefficient politicians are with tax payers’ money. The problem is that most people are not really interested in politics in detail and will accept all the excuses the politicians offer for their high spending.

[moneystery]

What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?

....

the government should have calculated when they rebranded their currency by updating the design of their old currency to the new one. like in my country, so far our government has rebranded their currency 4 times, from one that initially looked old, to something fresher. from what i read, the aim of rebranding this currency is to add several features that will make the currency harder to counterfeit, easier for the blind to recognize, and more durable. i don't know the reason why the government in your country rebranded their currency, but there is definitely a reason behind it all, whether it's good or bad i can't say for sure.

[tabas]

Do we assume it is still one of the money laundering strategies that the government intentionally creates loopholes in other to steal the public funds? Because even after the implementations and execution of Such projects, the same governments clamours that the nation has run out of funds after giving accounts of those irrelevant executed projects.

It's a major problem for the developing countries that their corrupt government officials are going to do some projects to solve problems that their city and citizens dealing with through infrastructures but little did the people know, they've got some kickbacks. And what they do is that they're connected with the contractors and builders of those infrastructures and they have commission with that. That's how the corrupt goes to make it look like they're real public servant. While in the develop countries, there could still some ways for them to take advantage of their fundings that gives some idea on how to bypass their law and system if they see some loopholes.

[CageMabok]

I don't know government print money just to spend it on a project and take some funds from it to their pockets but definitely politicians take a cut in every projects that comes under their rule and it just goes as black money into an offshore account and it's happening everywhere not just in the underdeveloped nations.

Fiat is indeed easier for any party to embezzle, especially if the money is in cash, so don't be surprised when there are state parties who cheat this for their own benefit by exploiting the power they have at that time. Because projects that exist within the country and are related to the government there will always be more money for the managers so there is no need to be surprised if you ever see something like that in the scope of your own country's government.

[EarnOnVictor]

~snip

For the first part, you are so wrong, and it shows that you do not understand economics and national security. Without writing stories or mincing words, just research how many times the USA and some other top countries have changed the face of their currencies in the past 2 decades. You should also research the reasons for that so that you will be rightly enlightened about this.

Those who do not dare to openly protest against the government's work and go on social networks to complain are often people who do not understand anything about the country's economy and always like to blame others if they encounter difficulties.

Suppose even if what OP said is true then what is the more important point of this discussion if our opinions don't reach the government or we don't dare to stand up against what they do? If we cannot prevent them or dare not fight them, we should find ways to adapt and save ourselves. Hanging out on the internet and saying bad things about our country doesn't make us any less poor.

Let me start by saying that the first point of the OP in which he talked about the redesigning of the country's currency is certainly not valid because it shows the lack of understanding of the benefits of what is an international practice. But for the second point in which he talked about the corruption through infrastructural development, of course, it is so valid and it happens in many countries of the world. But still, corruption comes in different degrees/forms and infrastructural development might not be the case in some countries if such country is the kind that is strict with auditing when it comes to project allocation and execution.

Nevertheless, as you said, let's assume that such is the case, or generally, we are talking about the corrupt government that is making living difficult for the masses, well, the social medial is power and it's another good medium for people to reach out to the government, only that people do not take it seriously.

Social media attacks have been productive in the past, because that is the way many people can make their voice known, unlike the physical activism that demands your presence, more money and ruggedity. In my country, I've seen the government changing their minds because people called them out on social media in many cases. Even social media is a place where a petitions to be signed by the masses for appropriate bodies to know for subsequent action and sanctions would be known by connecting people to it for a redirect to the petition page. This makes petitions gains more popularity and has helped enough, even to let the powerful people and the highest sanctioning bodies of the world know about what people are facing in the hands of the government and private companies/individuals.

[ancafe]

What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?

These projects are actually good because they can increase state income, but they do not develop human resources, so even though infrastructure projects are built with grandeur, they do not have an effect on the people. Having good infrastructure makes things easier for people, but because people don't have developed ideas, they can't take advantage of anything. A country is strong if it is seen from the people within that it is able to meet the needs of life and there is no poverty in a much larger aspect, so human resources are also important to develop.

Do we assume it is still one of the money laundering strategies that the government intentionally creates loopholes in other to steal the public funds? Because even after the implementations and execution of Such projects, the same governments clamours that the nation has run out of funds after giving accounts of those irrelevant executed projects.

The scale of needs may not be implemented so that the government seems to be imposing its desire to build several large projects. They take taxes from the community and the results are used to develop several strategic projects, but they forget to develop the human resources within them. This error should be corrected so that when the infrastructure is built, the community can use it as well as possible.

[AYOBA]

The government attempts to adjust exchange rates so that the value of the Nigerian Naira can increase, but the daily depreciation of the Naira remains unaltered. Since the Baba Buhari administration, attempts have been made to create a new money, which even led to a significant number of individuals surfing during that difficult period due to the new notes. They won't print the updated notes when they try to band the old ones.
If the government can merely leave the old note for us to use in order to stay away from criminals, then I think it will be better. Because the design of these new notes makes it very simple for those who want to produce fake money, they won't have to go through a lengthy procedure like they did with the old note before they can do the fake note.

[WatChe]

Usually, government projects are only for a small part of the population and isn't going to do much good for the majority. When it comes to government projects the main goal is to make it seem as cheap as possible so there won't be much opposition to it. Once the project started the costs are going to balloon and in there much anybody else can do, because stopping the project would make it seem like a fail and lead to a public outcry. I remember reading about a study that found out that almost all the large-scale government projects in the western world ended up over budget. It's so much easier to make decisions with money that you don't own and I wish there was more oversight over how inefficient politicians are with tax payers’ money. The problem is that most people are not really interested in politics in detail and will accept all the excuses the politicians offer for their high spending.

That's true that majority of tax payers are willing to pay more taxes then to go and ask government about money embezzlement. The main reason is that you need to have a strong background with links everywhere to step into politics, the weaker ones are easily kicked out by old  politicians. It is seen that politicians after gathering money usually left the country and keep there assets in treasurers of Swiss banks. The condition is better in developed countries bur worse in underdeveloped countries. 

[darkangel11]

IMO government is the biggest scammer out there. It makes you believe the money it produces have value and then prints more behind your back to tax your savings because that's what it is, a tax. Printing makes inflation that makes you lose a part of your savings. I say fuck that, I never agreed to it. What they call money laundering is just you, the user, trying to be anonymous.
That's why we need independent, decentralized currencies, so our money really belongs to us. I don't need the government to tell me what I can buy and how much I can pay.

[Richbased]

Rebranding is good for a government but it should be in the interest of the masses because a government cannot just take sudden decisions that will affect the people negatively. Literally, every government is expected to do things that will be in agreement with her subjects hence, if a government wants to do something differently from the way it has always been done then they need to follow proactive measures.

It is just so unfortunate that some government uses these medium to succumb public funds all in the name of rebranding and doing projects that even lacks quality and they use inferior materials to run projects but however, it is the duty of the arms of government to make good decisions that will proffer solutions to the country and make judicious use of the country's Treasury and spend every penny accountably rather than spending extravagantly.

[dothebeats]

At this point, any project that a known corrupt government presents will always be deemed as something negative. I can't blame the people as they're the ones experiencing poverty and hardships in the first place. They know the struggle more than anyone else.

These simple projects often line up huge money for those who are in charge especially if there is a system to which they can siphon the public funds effectively. I often see such projects here in the Philippines as well. They don't really amount to anything for the public, but they are done nonetheless to make people think that the government is using the public's money for the public.

[Volimack]

As far as I know the impact is more in underdeveloped countries. With the increase in economic activities the level of financial terrorism has also increased tremendously. All developed and underdeveloped countries are victims of financial terrorism. Illegal money transactions have increased in most of the countries and at the same time illegal money is being used in various illegal activities.

[topbitcoin]

What would make a government to rebrand their traditional currencies just to edit some graphic designs with excessive amounts of money bills involved to execute such project that doe not mean to brings more values to the currency neither does it boost the economy level of the nation?

Meanwhile such is been an undeveloped country which the implemented bill for such valueless project is big enough to create infrastructures with the potentials of building the masses with valuable skills and otherwise a national financial revenue.

Do we assume it is still one of the money laundering strategies that the government intentionally creates loopholes in other to steal the public funds? Because even after the implementations and execution of Such projects, the same governments clamours that the nation has run out of funds after giving accounts of those irrelevant executed projects.

This can indicate priorities that may not be in line with urgent economic needs. The enormous expenditures spent on the currency’s makeover may seem irrelevant and insignificant, especially when basic infrastructure projects or local community development programs are neglected. In most developing countries, there is a serious challenge in resource allocation resulting in inefficiency. Drawing a conclusion that this implies the government endorses money laundering as its strategy of theft of public funds is quite a leap.
Public accountability is an important factor that can help alleviate suspicion, but secrecy and lack of transparency in public funds management can increase mistrust. Also, if wasteful expenditures are carried out without clear accountability, this might result in the loss of social benefits as well as undermine the economic growth of the country.

There is a need to enhance transparency and accountability in the use of public money, and government expenditure should be based on society’s genuine needs and the country’s economic situation.

[mirakal]

I don't know government print money just to spend it on a project and take some funds from it to their pockets but definitely politicians take a cut in every projects that comes under their rule and it just goes as black money into an offshore account and it's happening everywhere not just in the underdeveloped nations.

Fiat is indeed easier for any party to embezzle, especially if the money is in cash, so don't be surprised when there are state parties who cheat this for their own benefit by exploiting the power they have at that time. Because projects that exist within the country and are related to the government there will always be more money for the managers so there is no need to be surprised if you ever see something like that in the scope of your own country's government.

This is not surprising really as this is very visible in every country. As much as we want to put responsible leaders on their respective positions, but majority still fall on being greedy and trying to make use of their position to satisfy their personal interests and desires. And making projects that are quite unnecessary or overpriced is probably one of their strategies to steal some government funds, and I think citizens are aware of it. But since they are not in the position to stop these irresponsible leaders, that’s why this kind of habit is still practice up to these days.

[Churchillvv]

I understand what you mean OP, but alot of people do not get it clear as you didn't provide enough details to what the discussion is about. But for people like that understands I will definitely contribute to the said topic.

Most times I repeat this statements that in every decision taking by some government, there is a shadow party somewhere. Governments sometimes creates projects that could fetch the cartels millions in there pocket over night especially at the end of their tenure and if watched closely this case which you are specifically referring to was conducted at the end of their tenure, it's typical a means to milk the country before leaving the position of executive president.

Since I have come to understand that the country is beginning to look like a joke to the elites I have made decisions not to give ears to whatever strategy that they will develop.

[angrybirdy]

I understand what you mean OP, but alot of people do not get it clear as you didn't provide enough details to what the discussion is about. But for people like that understands I will definitely contribute to the said topic.

Most times I repeat this statements that in every decision taking by some government, there is a shadow party somewhere. Governments sometimes creates projects that could fetch the cartels millions in there pocket over night especially at the end of their tenure and if watched closely this case which you are specifically referring to was conducted at the end of their tenure, it's typical a means to milk the country before leaving the position of executive president.

Since I have come to understand that the country is beginning to look like a joke to the elites I have made decisions not to give ears to whatever strategy that they will develop.

same here, especially when I see that even those in low positions like city officials do wrong and steal the funds of the barangay, what's more if they have been elected to a higher position, right? Once again, they are doing the same projects even uf there's nothing need to fix just so they can say they have done something, as if the people of the town don't think, so now we should get to know better those officials who will run in the next election to reduce having a corrupt governmenr officials.

[Darker45]

When it comes to government funds, misuse is the rule. But I can only speak for my own country. It's brazenly obvious here how government officials don't really care about service or the people. They only care about making money and making themselves popular.

Government officials here don't care whether projects are irrelevant, superfluous, substandard, not even needed at all, or unfinished. What's important is that they make money out of them and they can use them to market themselves. Billions and billions are wasted and pocketed in the process.

Every now and then, we also change the design of our currency. One feature is added here, another there. But they're all useless.

[Yaqs15]

The government attempts to adjust exchange rates so that the value of the Nigerian Naira can increase, but the daily depreciation of the Naira remains unaltered. Since the Baba Buhari administration, attempts have been made to create a new money, which even led to a significant number of individuals surfing during that difficult period due to the new notes. They won't print the updated notes when they try to band the old ones.
If the government can merely leave the old note for us to use in order to stay away from criminals, then I think it will be better. Because the design of these new notes makes it very simple for those who want to produce fake money, they won't have to go through a lengthy procedure like they did with the old note before they can do the fake note.

The design of these new naira notes have led alot of Nigerians to suffer during that time. They have their money in their bank account, but were not given access to it. and they need it.   Some even have the old notes in hand cash but seem useless because federal government declared it void and outdated. They were just moving from one point to another looking for who to give it to.
And the funniest part of it is that, those that have little opportunity to help them to change the old notes with the new naira notes did it but they did business, and on a very significant percentage.
  And the worst of it all and the most painful of it is that, at the end of the day, all efforts seem in vain, because uptill now, I have not seen any significant development.

Rebranding is good for a government but it should be in the interest of the masses because a government cannot just take sudden decisions that will affect the people negatively. Literally, every government is expected to do things that will be in agreement with her subjects hence, if a government wants to do something differently from the way it has always been done then they need to follow proactive measures.

It is just so unfortunate that some government uses these medium to succumb public funds all in the name of rebranding and doing projects that even lacks quality and they use inferior materials to run projects but however, it is the duty of the arms of government to make good decisions that will proffer solutions to the country and make judicious use of the country's Treasury and spend every penny accountably rather than spending extravagantly.

 Innovation and renovation is good but before then, there are certain factors that need to be taken good look at. For example; before a government should start a project, he or she should consider some factors like inflation and deflation, recession and others. Even those that are going to be given the contract to, all of them need proper supervision. material to be used in doing the project need to be checked for reliability and lack of reliability in them. the sincerity of the government and all others that are involve in the work need to be known.
 And also the effects of the project to the masses and country herself. it's advantages and disadvantages to the masses should be checked and balanced for smooth and efficient going.
And after all of the above have been putting into consideration, then, masses should be enlightened about it and they shouldn't be left in darkness.