As the battle to end the FCFA, the Slave Currency, intensifies, I have decided to share with you this video about it. It tells it all, the mathematics of it in a short time. This has to stop. We, Africans, deserve to be independent, and independence starts with the ability to define how to use our money.
To summarize, the FCFA is the colonial tax paid by African countries to France since their independence. As Mawuna R. Koutonin says it, “African leaders who refuse are killed or victim of a coup. Those who obey are supported and rewarded by France with lavish lifestyle while their people endure extreme poverty, and desperation. It’s such an evil system even denounced by the European Union, but France is not ready to move from that colonial system which puts about 500 billions dollars from Africa to its treasury year in year out.” No wonder the French people are always on strike, requesting shorter times of work (32 h vs 35 h vs 37h per week): because Africans are slaving for them, and every year they get 500 billion dollars without even having raised a finger!
African countries continue to pay colonial tax to France 50 years after their independence. This system is an abomination destined to keep African countries poor forever! Here are some excerpts from the article by Mawuna R. Koutonin. For the full article, go to France Colonial Tax , and do not forget to check out the article I wrote a while back on the Franc CFA: slave currency! Also, please read the book by Pr. Nicolas Agbohou on the subject: ‘Le Franc CFA et l’Euro contre l’Afrique.’
Did you know that many African countries continue to pay colonial tax to France since their independence till today?
Sékou Touré of Guinea decided in 1958 to get out of french colonial empire, and opted for the country’s independence, the french colonial elite in Paris got so furious, and in a historic act of fury the french administration in Guinea destroyed everything in the country which represented what they called the benefits from french colonization. …
Slowly fear spread through the African elite, and none after the Guinea events ever found the courage to follow the example of Sékou Touré, whose slogan was “We prefer freedom in poverty to opulence in slavery.”
[…] In March 2008, former French PresidentJacques Chiracsaid: “Without Africa, France will slide down into the rank of a third [world] power.”
Chirac’s predecessorFrançois Mitterandalready prophesied in 1957 that: “Without Africa, France will have no history in the 21st century”
At this very moment I’m writing this article,14 african countriesare obliged by France, trough a colonial pact, to put85%of their foreign reserve into France central bank under French minister of Finance control. Until now, ,Togo and about 13 other african countries still have to pay colonial debt to France.African leaders who refuse are killed or victim of a coup. Those who obey are supported and rewarded by France with lavish lifestyle while their people endure extreme poverty, and desperation.
It’s such an evil system even denounced by the European Union, but France is not ready to move from that colonial system which puts about 500 billions dollars from Africa to its treasury year in year out.
[…] Below are the 11 main components of the Colonisation continuation pact since 1950s:
#1. Colonial Debt for the benefits of France colonization
The newly “independent” countries should pay for the infrastructure built by France in the country during colonization. …
#2. Automatic confiscation of national reserves
The African countries should deposit their national monetary reserves into France Central bank.
France has been holding the national reserves of fourteen African countries since 1961: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, Togo, Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea and Gabon.
“The monetary policy governing such a diverse aggregation of countries is …operated by the French Treasury, without reference to the central fiscal authorities of any of the WAEMU or the CEMAC. Under the terms of the agreement which set up these banks and the CFA the Central Bank of each African country is obliged to keepat least 65%of its foreign exchange reservesin an “operations account” held at the French Treasury, as well as another20% to cover financial liabilities.
The CFA central banks also imposea cap on credit extended to each member country equivalent to 20%of that country’s public revenue in the preceding year. Even though the BEAC and the BCEAO have an overdraft facility with the French Treasury,the drawdowns on those overdraft facilities are subject to the consent of the French Treasury. The final say is that of the French Treasury which has invested the foreign reserves of the African countries in its own name on the Paris Bourse.
In short,more than 80% of the foreign reserves of these African countries are deposited in the “operations accounts” controlled by the French Treasury. …” Wrote Dr. Gary K. Busch.
It’s now estimated thatFrance is holding close to $500 billions African countries money in its treasury, and would do anything to fight anyone who want to shed a light on this dark side of the old empire.
The African countries don’t have access to that money.
France allows them to access only 15% of the money in any given year. If they need more than that, they have to borrow the extra money from their own 65% from the French Treasury at commercial rates.
To make things more tragic,France impose a cap on the amount of money the countries could borrow from the reserve. The cap is fixed at 20% of their public revenue in the preceding year.If the countries need to borrow more than 20% of their own money, France has a veto. …
#3. Right of first refusal on any raw or natural resource discovered in the country
France has the first right to buy any natural resources found in the land of its ex-colonies. It’s only after France would say, “I’m not interested”, that the African countries are allowed to seek other partners.
#4. Priority to French interests and companies in public procurement and public biding
In the award of government contracts, French companies must be considered first, and only after that these countries could look elsewhere. It doesn’t matter if the african countries can obtain better value for money elsewhere. …
As a consequence, in many of the french ex-colonies, all the majors economical assets of the countries are in the hand of french expatriates. …
#5. Exclusive right to supply military equipment and Train the country military officers
Through a sophisticated scheme of scholarships, grants, and “Defense Agreements” attached to the Colonial Pact, the Africans should send their senior military officers for training in France or French ran-training facilities. …
… France has trained hundreds, even thousands of traitors and nourish them. They are dormant when they are not needed, and activated when needed for a coup or any other purpose!
#6. Right for France to pre-deploy troops and intervene military in the country to defend its interests
Under something called “Defense Agreements” attached to the Colonial Pact, France had the legal right to intervene militarily in the African countries, and also to station troops permanently in bases and military facilities in those countries, run entirely by the French….
#7. Obligation to make French the official language of the country and the language for education
Oui, Monsieur. Vous devez parlez français, la langue de Molière! …
#8. Obligation to use France colonial money FCFA
That’s the real milk cow for France, but it’s such an evil system even denounced by the European Union, butFrance is not ready to move from that colonial system which puts about 500 billions dollars from Africa to its treasury.
#9. Obligation to send France annual balance and reserve report.
Without the report, no money. …
#10. Renunciation to enter into military alliance with any other country unless authorized by France
… In the case France ex-colonies, France forbid them to seek other military alliance except the one it offered them.
#11. Obligation to ally with France in situation of war or global crisis
Their contribution is often ignored or minimized, but when you think that it took only 6 weeks for Germany to defeat France in 1940, France knows that Africans could be useful for fighting for la “Grandeur de la France” in the future.
There is something almost psychopathic in the relation of France with Africa.
France is severely addicted to looting and exploitation of Africa since the time of slavery. …
It’s up to us as African to free ourselves, without asking for permission, …
For historical comparison, France madeHaitito pay the modern equivalent of$21 billionfrom1804till1947(almost one century and half) for the losses caused to french slave traders by the abolition of slavery and the liberation of the Haitian slaves.