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The 14 Countries Still Under The Hostage Of France's Colonial Tax Rule.
The 14 Countries Still Under The Hostage Of France's Colonial Tax Rule. Kwabena Ofori Osei 45 Views • 2 years ago

The 14 Countries Still Under French Grip

African leaders often face accusations of corruption and perceived alignment with Western interests, which can be attributed to a compelling reason. These leaders find themselves in a delicate position, driven by concerns about their personal safety and the stability of their nations. Their actions, seeking powerful nations' support, stem from a desire for protection against the risk of coups or threats.

However, this quest for security sometimes comes at a cost. Western powers, in exchange for backing, may expect these leaders to prioritize external interests over serving their own people or their nation's best interests. Former French President Jacques Chirac's declaration in March 2008 rings with a sobering truth: "France's significance could diminish to that of a third-tier power without Africa."

Chirac's predecessor, François Mitterand, foresaw this perspective as far back as 1957 when he prophesied, "The absence of Africa could render France's historical narrative incomplete in the 21st century."

Under a binding colonial pact enforced by France, 14 African nations find themselves compelled to deposit a staggering 50% of their foreign reserves into the French central bank, all under the control of the French Minister of Finance. Astonishingly, as of 2014, Togo and approximately 13 other African countries continue to shoulder the burden of colonial debt payments to France. The repercussions of dissent are grim; leaders who dare to resist face dire consequences, often falling victim to assassination or facing destabilizing coups.

In a troubling twist, those who comply with France's demands are rewarded with a luxurious lifestyle, supported by the French government. This stark contrast paints a harrowing picture of disparity, as the people of these nations grapple with extreme poverty and despair. The weight of this reality underscores the profound imbalance in the relationship between these African nations and France, raising crucial questions about sovereignty, economic justice, and the future of these countries as they strive for genuine progress and empowerment Let us take a closer look at these 14 African countries

Why is China hiding $700 billion dollars?
Why is China hiding $700 billion dollars? Kwabena Ofori Osei 45 Views • 2 years ago

China runs large trade surpluses with the United States. Typically these funds would be returned to the US as capital investments, either through buys of fixed assets, securities, or lending.

China, however, is liquidating stakes in companies in the United States, and is selling off its portfolio of Treasury bonds.

These two trends are resulting in enormous imbalances in Balance of Payments, which much be re-balanced via China's central banking activities. China is clearly recycling giant capital pools from the United States for investment purposes inside China, and among China's top trading partners.

And because the US dollars are never returned to the capital markets, it is also clear that China and the BRICS countries are setting up their own trading and economic bloc, funded largely with US debt instruments.

(Editor note: At about the 2:00 mark, I misspoke. The US ran a trade deficit of approximately $800 billion, not surplus. Apologies.)

Resources and links:

Bloomberg, US Trade Deficit Widens to $78.8 Billion, Largest in Two Years
https://www.bloomberg.com/news..../articles/2024-09-04

Why is China dumping US Treasuries for gold?
https://x.com/SputnikInt/statu....s/178313812393054619

Vanishing Act: The Shrinking Footprint of Chinese Companies in the US
https://rhg.com/research/vanis....hing-act-the-shrinki

China Should Explain ‘Enormous’ Data Gaps, US Ex-Official Says
https://www.bnnbloomberg.ca/in....vesting/2024/09/06/c

Bloomberg, China Plans to Sell Dollar Bonds in Saudi Arabia as Ties Deepen
https://www.bloomberg.com/news..../articles/2024-11-05

The Economist, Chinese firms are growing rapidly in the global south
https://www.economist.com/brie....fing/2024/08/01/chin

Closing scene, Yangzhou Gardens, Jiangsu

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