The Warsan

The Global Economic System is designed to Keep Africa under Unending Poverty

Africa, the hungry cow that produces enough milk to feed the world is not hungry because she has no food within her yard; neither is she hungry because she is incapable of generating enough food on her table. The simple truth is that, this cow is hungry because an iron-lock has been placed on her head to cover her mouth and her children are threatened against their lives to accept what they obviously know to be unacceptable.

Sadly, those who milk Africa every day are not just greedy people who seek selfish benefit from her riches; they are also wicked monsters who join efforts to starve her so they can derive happiness and pleasure from the sight of her suffering in pain.

Let us start by giving deep considerations to the following; for more than 60 years of Independence, no African country is allowed to trade their naturally endowed resources in their own sovereign currencies to ensure that true values of those resources are translated into economic development and empowerment on the African continent.

Any attempt by any African leader to break this global economic system that has deliberately designed and instituted to keep Africa under unending poverty is either assassinated or removed from power, hence, the need for all power-holders on the African continent to be quite while observing the future of the next generation destroyed in an arm-folding. The real threat did not start with Patrice Lumumba of DR Congo or Thomas Sankara of Burkina Faso; neither did it end with the sad removal and assassination our dear Brother Gaddafi, all of us are victims and whoever sort to challenge this system need to be aware of the true consequence.

Today, the masses of Africa are made to believe that they are suffering because of the corrupt nature of their leaders, however, our under development is designed by something far greater than corruption which is even more abundant in the world system.


Here is the real reason why Africa, with all her huge natural and human resources remain poor and may have to remain as such for a very long time:

When we (Africa) need a car or anything from the colonizers, we work hard to get their monies to pay for our wants; (this means that, whatever we demand from them, we exchange that with our labour which is of equal in value to what we are taking from them. This in turn, creates value in their economies); when we fail to work in their economy to obtain their currencies, we only have the option of going to the global financial market to demand for their currencies to pay for such wants (when this happens, we create demand for their currencies as a commodity, and once demand for these currencies increases, the value of their currencies also increases.)

On the other hand, when they (the World) need our valuable resources, we are told that, we need foreign exchange and as a result, we allow them to print their valueless papers (in a form of money) to exchange our valuable resources (this means, they take away all our resources without creating any value in our economies).

Imagine, if Africa tell the wold that “when you need our Gold, Diamond, Oil and so forth, you must pay for them in our African currencies”, this will mean that the wold will have to come and work on the African continent and create real value such as infrastructure and technology in order to get our currencies to demand for our valuable resources they cannot do without. Other than that, they have to go to the global financial market to demand for our currencies and this will mean that the value of our currencies will increase rather than the depreciation of exchange rates as we experience each day in every part of Africa.

At this stage, let me point out to you that, it costs less than 50 cent to print 100 Dollar or 100 Euros note, but it costs more than 100 dollars to mine 2g of gold from the ground. So how can we genuinely exchange 2g of gold for 50 cent if not for exploitation?

If we allow China, America the UK or whoever, to demand for our resources with their own paper money, we are basically saying that we have no control of those resources since these people can freely print any amount of those monies to take away those resources of ours. Our economy can generate true value from the huge resources we are endowed with only when our currencies are backed by these resources, and those resources are exchanged in our own sovereign currencies.

Truth must be told, if the world are allowed to print their monies to buy our resources then Africa must also be able to print our monies and use them to buy whatever we need from them. If not, then they must also come and work to get our money before using that buy our resources like we also work for their monies to buy their resources.

First published in People’s news

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