I
should begin by mentioning that, certainly in Africa, the traditions when
someone needs financial support for whatever purpose he or she so strongly
desire, is through the deposit monetary system.
But African governments have created blocks that has never been an
institution, which necessarily does not go along with monetary system of the
west that had worked so well. So that today, which is a global financial
movement Africa economy has make the day by creating additional impediments on
the way. Not only with its corrupt
government officials and dishonest population, but also a cash flow system that
had not worked to benefit its people and their aspirations over a very long
period. Africa without any question, if our governments and people’s are honest
and unaffected in a way that will show what they say is really meant, will
determine the direction of African history for the next several generations.
Obviously,
this is Africa’s critical moment. It was not long ago that African governments
established what there perceived at that time to be a financial system that
will establish a monetary base that can support the continent development
processes. But that program even though laudable and meticulously established
only goes to work at highest level in the society. Governments establish the
African Development Bank and other banking ordinance, which grant credit to
State parties to the article of association. What the original founding fathers
of the continents financial system forget to do was that it could not at the
same time create parallel credit system for the ordinary man on the street who
is the principal beneficiaries of the monetary system so established. We have
put in place a credit based financial system for governments but on the other
hand the people have to do with a deposit financial system that is not willing
to support the poor man otherwise brilliant initiative if it can not support
its borrowing with heavy collateral demands, which very often are beyond the
poor‘s reach, and something that most of our people cannot afford.
African
governments can write projects have them approved and sign contracts to pay the
loan together with the interest over a period. Here the only guarantee is the
people but the other side of the banking system does not trust the people that
the government had mortgaged. But should the ordinary poor African people be
made wreathless. The system is not working for them. The monetary system as in
Africa today can best be described as authoritarian, oppressive, mass profit
orientation met to strangle the people and subjugate them to beggary existence.
We are dealing and more precisely confronted with a system that African
governments and financial markets do not have control over and because of this had
continually made the African people poor. The ordinary African is so poor that,
sometimes wonder how come that, the African governments and its financial
system that have subjugated its own people to poverty often refer to borrowing
money from some places to finance its local project only to come and reward the
masses with an over estimated tax regime obligations, which does not reflect
the true income of the people. In other words, African financial governance has
devise ways and means to rub the people who only benefit they derive from
government is oppression and constant harassment and inhuman treatment and
threats to their lives. How can our governments calm to guarantee right to life
when in fact those rights are violated with impunity. Can you imagine the
former president of The Gambia coming on national television to threaten its
people, the guarantors of the borrowed cash in his pocket, with death and
promising that nothing will come out of it.
Governments
borrow money and make the people as mortgages so the people have become
financial obligation, the very poor people as guarantors of the loan that
presidents often calm as their own. The people are now forced to ask what is
wrong with our financial system. Why is it that we cannot finance our own planed
projects. Why is that we cannot build our own credit base monetary system to
meet our own developmental needs. Why have we made our financial system
favorably only to the few rich among us. The rich who are part of the African
mafia connected to rouge governments and supervised by international private
financial gangs controlled by a super power. This is tiresome.
Africa
have come to a point that the monetary system, which is based on international
financiers interest which is deposit
system that is not comparable to the dream of having well managed
nation-state-international financial interest, which is refer to as global free
market system have to be revisited. This
is a system that African governments cherished even when the so-call
beneficiaries - the people do not approved of it. Why the people should be
forced continually to approve of what does not work for them. African people
are sick and tired of this monetary system based on the amount of deposit one
can make. Look at the housing program, check the required amount of money one
need as down payment and see how many people in a nation state of African
origin will be able to afford. It goes without saying that the poor will always
be at the mercy of the rich who are the principal beneficiaries of monies
borrowed from financial agencies in the West. West Africa housing programs are
typical example of landlords extorting hefty sum of money from it tenants. All
this inhuman and degrading treatment should provided African governments a base
to re-think strategy to address the unjust banking system and work toward the
establishment of a credit based monetary system that targets the ordinary
people who are the true owners of the wealth of the country. The time has come
to begin shearing equitably the national cake. The people must, no longer at
this moment be and feel like living dead. The African people are saying to
their governments we want to live a good life.
Now,
the time has come to establish a continental credit system not a monetary
system nor NEPAD, but a system, which will be organized by the African
Development Bank among other financial institutions in cooperation with other
nations and treaty bodies. The African credit system will mobilized the
resources of the continent for infrastructure development, for a purpose of
production, to use the abandoned human resources on the continent to produce
the goods and services which will then be a vessel for freeing our people from
poverty and under development, free them from subjugation, and reorganize
Africa on the bases of credit financial system, which in the long run will make
Africa part of the growing international monetary credit system. This credit
system that I am referring to is the intent of every financial institution ever
created in the world. Bear with me reader the monetary system that the British
envisage and established during the period of colonialism is the major
contributing factor to nation state perpetual enslavement, exploitation,
inhuman treatment and degrading conditions in which majority of our people live
in. Africa must free itself once and
for all from this monetary system and make a way for progress through the
putting in place of a credit system. Africa must win back its sovereignty as a
nation state that will have partnership with respective credit systems to
ensure continuous alleviation of poverty on our continent. Africans need to
adopt a tried and tested financial system that was engineered by President
Roosevelt for the world after the Second World War. This is what had become
known as the Marshall Plan.
One
main thing that should made African governments wary of the monetary system is
that this system creates international private banking interest not governments
that allows the control of the idea of money by private banking interest that
aim at making big, big profits at all cost. Compare this to the United States
government money system that only permits sovereign nation states to be allowed
to possess such powers. Africa’s under development, huge credit balance of
payment is deeply rooted in the present monetary system in place. No amount of
destroy and crate economy or continuous borrowing, which does not reach the
ordinary person can relief the continent of its perpetual backwardness and
misery. We will never be able to settle our debts if we can not be part of the
global credit system. The time is now to establish “Third Station” as they have
the G8 and so on to manage our credit system and make sure that our yes is yes
and no is no. It is only by so doing shall Africa arising from its slumber.
The
continuous suffering on the continent that is endow with enormous wealth and
yet declining is an unnecessary breakdown, which the powers that be should be
addressing by now. We can afford to set forth policy to deal with the poverty
confronting the continent. We can take
certain measures to strengthen our banking system restructure it on credit
monetary system not only for governments but the people. We can afford to give
protection to our banks and regulate borrowing from commercial bank. I have
firm believe that if African governments can be bold enough to take decision
with the support and concern of the people’s representatives then we will be
out of this mess. We have to, sort of do, banking reorganization, break with
the colonial monetarism and lower the expense charges on the population. Once
banks are in a position to open up the lending faucet again then we will likely
see a surge in startups of small to medium business that will fuel employment
and lead to poverty alleviation in our communities.
In
whatever way, if our leaders stop stealing, looting from the national cake, and
continue to lack the ability to sort out ways and means to meet the needs of
the suffering masses, and continue to engage in not creating employment and
improve the conditions of life and security for Africans. If African
governments continue to fail making jobs available and continue to make the
people believe that this is because of the continents obligations to honoring
the artificial debts of a bunch of crooked swindlers associated with the
monetarism system. Africa as a continent will contentiously be confronted with
crisis on crisis engineered by butt-kissing finance ministers manipulated by a
rouge presidents connected to international
financial interest, which also controlled by a supper power. Because of the
great crisis confronting Africa today, which our leaders have failed to address
and will not be able to address unless, they become aware of the real problem
confronting us, which is our deposit, based banking, monetary system that is
manipulated by mafia businesses with connections in higher places. The
continent will continue to face mass unemployment. We should be asking why
people are not employed. Is it not because the people are not producing? Is it
not because the people do not have any opportunities? Is it not because our
agriculture does not have bank credit that is supported by the state within a
credit monetary system? Our situation is worse than I can describe here, it is
something akin to treason and it is all because our governments have failed to
understand that this globalization stuff is credit plan by the west and it make
sense for Africa to do same and help alleviate its economy from slumber.
Other
people are said to be alight with vigor because they concentrate their growth
on credit line they give to multinational corporations that there established
to exploit through extraction of minerals with one thing on their mind, to feed
their industries that are based on richer levels of resources that their credit
can buy from poor but potentially rich Africa. In fact the time had come and
that time is now to free our people from the originators of the global
monetarism so that we too can build an African system of sovereign nation
states of people and establish peace among our people based on common ground
for a structure that ensure continuity. Africa is demanding a society has a
characteristic that is based on the nature of the individual and not oligarchic
as the British. The G8 and G20 groupings of nation states have problems
maintaining the standard of living their people enjoy because they have the
intent to loot and use up those resources that we have and they depend on. If
they fail to loot and use up our resource which they purchased on credit to
feed their industries that depends on richer level of resources. The G8 and G20
groupings are aware that Africa still has plenty of resources and they have to
get it because these resources do not stretch out on their doorsteps. Countries
like China and India have joined the race to grab their part paying for our
resources with the credit derived from their credit monetary system. They are
now members of the credit system and their people are beginning to be counted
among nation states. African governments should free their people through the
building of monetary system of relatively sovereign nation states of people
refusing to work for the sharks out there to control and threaten our very
existence. We should be able to find common interest and seek cooperation among
Africa nation states and the international community.
Africa
is the developed nation states source of raw materials. For this reasons they
will go the length and breadth of the earth to always reverse their policies on
Africa when things are not going well for them. First they will come to us with
proposals to give some money with strings attached. Within the dishonest system
of monetarism. Then the continuous processes to colonized and recolonized Africa
without pity. The monetarist do not think for a second to use their potential
industrial might of the developed nation states to enable Africans to belong to
the main stream through the introduction machine tools, the credit monetary
system so that Africans will begin to develop their own independence and
eventually self sufficiency. All this is taken place because of the lack of
courage to put in place and respect that policy that paved the way for true
decolonization of the continent that will permit us to use our potentials, our
resources, among other things to begin to develop our true independence and
self-sufficiency.
In
whatever way, Africa remains the last frontier. We are a unique people because
we represent the genesis of creation and so the monetarist has made it a point
to destroy us and make us victims of ourselves. By so doing create confusion
among us and while we fight make coups, go to war they will be making advances
in other to strengthen their foot hold on the continent. That is why it has
become of importance for us to prove our capabilities by creating jobs for our
people and the only way we can do this in other to stand up among community of
nations and be counted is to make our people work, provide the necessary
support from governments for large scale infrastructure that will put lot of
people to work. We have to make our rivers produce the energy and water for
industries and agriculture use. Our governments should make efforts to make our
communities productive. Our farmers need appropriate tools, equipment and
markets. We have the stock market but we need to have commodity exchange too so
that we can equally trade, do business among ourselves and with other people
and with other credit base economy of the world. If we can do that we shall
have value for our produce and our people will be prosperous just like any
other country on earth. Governments can provide the funding and encouragement
for the people to work, provide them housing and social support system that
discourage corruption and laziness among our people.
To whatever degree, wherever African
governments build infrastructure or other project we can have immediate
stimulation of employment within the communities in which such initiative takes
place. The people with talents, with various skills will definitely applied for
the job created, fill those positions and work to generate income and ensure
prosperity among our people. We must be able to do this and do that immediately
with our people in mind and aim for the benefit of the future generation. All
honest hands must be on deck. We have to work to achieve what can do for the
people even today. One important thing
we should be doing is to convince our people that governments will be really
accountable to the people that the corruption will end, that the looting will
stop that both the people and every person residing on the continent will be
accountable to authority. We should let the people understand that we have a
credit system. A system that will address the developmental needs of the
continent and that people will have equal pay for equal work done. We should
say, we are going to stop the stealing of the people’s money, put an end to
obtaining wealth illegally, we are going to say stop to politicians who when
voted into office commit atrocities against the people. We must be committed to
obeying the rules and those who are in conflict with the rules will be
punished. We have to do things orderly.
We have to do all these because our people are desperate in themselves.
We have to build confidence among the African people. We have to make things
work right away for the people, for our children of today and for our future
generation.
Let
us pick one particular project get it started work on it diligently and ensure
its success. Our governments must avoid misuse of public funds. African money
should be invested into productive sector of the economy to create productive
employment that finally will bring about prosperity for the people not for an
individual.
By
Michael Davies
