Trading And Investing In & Out Africa

ISSUE 118 - VOL 2
April 15 - July 14, 2010

Dr. Bienvenu-Magloire Quenum
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The Collapse of a Predatory Economic System: Part II - The Fire Is Spreading

By Dr. Bienvenu-Magloire Quenum

Courtesy 340,000 Britain's and the Netherlands' citizens have had saving-deposits with the IceSave Banks. When the banks collapsed during year 2008's fall - the beginning of the international financial crisis, the two creditor-countries compensated their people, and then demanded the Iceland government to pay the money back.

The Icesave debts' repayment, under IceSave Bill approved by Iceland's parliament, would be costing something around US$15,000 a year for each one of the 320,000 people on the island, till 2024. This was unacceptable for the majority which on March 6, 2010 overwhelmingly voted against the repayment bill.

- A Stepping Stone for the End of a Predatory International Financial System

The astounding result of the vote (96% of the constituency rejecting - in principle - the repayment bill) is the expression of the sovereign rights of people vis-à-vis both their own government and the "international community". Its impact would, doubtless, be felt around the world for the very near future.

Indeed, the overwhelming margin result of the referendum reflected Icelanders' simmering anger at bankers and politicians as the country struggles to recover from a financial meltdown.

President Olafur R. Grimsson - who sparked the referendum by refusing to sign the repayment deal agreed by Iceland's parliament - said, "Icelanders resented having to pay for the actions of a few greedy bankers."

"He also said, however, "the British and Dutch would get their money back eventually." Further stating, "the referendum was not about refusing to pay back the money [...] Iceland is willing to reimburse those two governments, but it has to be on fair terms."

- The Fire of Protest Is Already Spreading

Before the referendum was held, creditors' negotiators were intransigent requesting Iceland government to accept repayment without making amendment to terms agreed upon, that set repayment interest rate at 5.4% on due value - and this without any grace period. And they have also used any possible diplomatic avenue, political and economic pressure to stop the referendum.

Indeed, they know perfectly the outcome. They know that the people of Iceland would express their sovereign right to control the evolution-trend of their economy, and most important, by rejecting the repayment bill terms, Icelanders would be setting example for other developing countries of the world submitted to the same dicta.

Now, these same people are striking a more conciliatory tones, lowering the interest rate and proposing repayment grace period. This not because of any sudden empathy for the plight of the Icelanders, but because the fire of protest is spreading into the developed countries circles - in Greece, Portugal - and soon in other big powers of the club, which are also in dire economic straights.

Yes, developing countries are no more the only ones submitted to stupid financial rules that set loan repayment's interest rates to level that impoverish people, ruin the economy and enslave nations. They are no more the only ones which hard built assets, public companies in strategic sectors such as agribusiness development, and utilities, are sold for peanuts to greedy so-called investors - coming from the western world.

- The System Has to Change and Will Change

The declaration of an Icelander stating, "I was one of the 60,000 people who asked him (Iceland President) to reject the compensation bill. What was on offer - something like 5.5% interest rates - was unacceptable. It would have put too big a financial burden on us. It would have meant the British and Dutch governments could come here and take over our natural resources. I hope we can reach a fair deal soon. I have five children - too much debt will be bad for their future. Taxes are already higher and they've cut back on healthcare. [Source]" - is conform to the state of developing world's people.

As the Icelander that made above statement, a sober observer of the economic stage worldwide can clearly see that the financial international system, as in operation since four centuries - and dominated by the powers of the day, has gone berseck and cannot be sustained anymore. A system in which 15% of the people of the world have "everything" and the 85% remaining "nothing," - not having access to drinking clean water, not having two meals a day- cannot be sustained anymore.

Indeed, as stated by Andrew Gavin Marshall, "the western nations of the world have built their great wealth and societies on the exploitation and plundering of the people and resources of the rest of the world. The wealth, freedom, and structures of our societies have been built on the starvation, robbery, deprivation and murder of millions upon millions of the world’s people, both historically and presently."

The following listing of YouTube videos add more pictures to Andrew Gavin Marshall's statement as per previous paragraph 1, 2, 3, 4, 5, 6, 7].

The middle classes of the developed countries had been made to believe that the prosperity of the nations they belong to was also their prosperity. But now, these middle classes people are experiencing what developing countries's people have experienced since ages, that is not to be in the position to make ends meet, losing jobs or living in fear to lose jobs, and not to have a permanent solid state shelter. In a nutshell, they now live by the day as developing world folks, thanks to the predatory financial system's deeds and mischief.

- Which Solution?

So, now that the devious system hit home - the western world - completing a full circle to hunting the land of the same people who, centuries ago staged it to plunder the rest of the world, there is great hope that the solution is not far away.

Indeed, does anyone really think that farmers - in France for example - would stay put selling crops half of the production cost; and when visiting the supermarket find out that the same produce is sold 10 times the price it had been swindled from them? Anyone who does not see that such predatory business and financial practices are spell for revolts, riots and revolutions, is just burying his head into sand. The awakening is fast coming and it would be a worldwide conflagration!

Last delivery of this series, to be posted on July 15, 2010 would explore solutions.

About the author: Dr. Bienvenu-Magloire Quenum is the principal/ managing director of Dr. Quenum & Associates, IBC; an experienced Investment & Business Planner with 30 years consulting practice in African countries; author of Africans, Stop Being Poor! and the editor in chief of Africabiz Online


We did it. The new brand paid VIP-Membership/VIP-Lounge is running live - in addition to the existing free access services: The quarterly delivered magazine - with its flagship "Opportunities Section" and the permanent Africabiz Online Global - which exposes regularly updated newsfeeds and videos (some times hourly and at least once per day or weekly) about news, events, reports and strategic studies.

Register to become a VIP-Member to take advantage of wealth of information, data, documents, projects and reports - that are streaming daily into the VIP-Lounge. Become a partner in progress in African countries - "the only virgin investment territory left over in the whole world to grabbing double digit growth rates on vested money".

1- Financial Shock: A 360 Look at the Subprime Mortgage Implosion,
and How to Avoid the Next Financial Crisis
by Mark Zandi (Hardcover - Jul 19, 2008)
2- The New Paradigm for Financial Markets:
The Credit Crisis of 2008 and What It Means
by George Soros (Hardcover - May 5, 2008)
3- Manias, Panics, and Crashes:
A History of Financial Crises (Wiley Investment Classics)
by Charles P. Kindleberger, Robert Aliber, and Robert Solow (Paperback - Oct 4, 2005)
4- Chain of Blame:
How Wall Street Caused the Mortgage and Credit Crisis
by Paul Muolo and Mathew Padilla (Hardcover - Jul 8, 2008)
Understanding Financial Crises
(Clarendon Lectures in Finance)
by Franklin Allen and Douglas Gale (Hardcover - May 17, 2007)
6- The Subprime Solution:
How Today's Global Financial Crisis Happened, and What to Do about It
by Robert J. Shiller (Hardcover - Aug 24, 2008)
7- The Trillion Dollar Meltdown:
Easy Money, High Rollers, and the Great Credit Crash
by Charles R. Morris (Hardcover - Mar 3, 2008)
8- Empire of Debt:
The Rise of an Epic Financial Crisis
by William Bonner and Addison Wiggin (Paperback - Oct 6, 2006)
9- Financial Crisis, Contagion, and Containment:
From Asia to Argentina
by Padma Desai (Hardcover - April 21, 2003)
10- America's Financial Apocalypse:
How to Profit from the Next Great Depression
by Stathis (Paperback - Nov 14, 2006)
11- Crash Proof:
How to Profit From the Coming Economic Collapse (Lynn Sonberg Books)
by Peter D. Schiff and John Downes (Hardcover - Feb 26, 2007)
12- Bad Money:
Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism
by Kevin Phillips (Hardcover - April 15, 2008)

"CONTRIBUTOR'S GUIDELINES" are available here. We invite you to contribute to AFRICABIZ ONLINE MONTHLY ISSUE - with articles related to "How Africa Could Bridge The Developing Gap".

Your feedback / objection / contribution is welcome. Visit WorldWide BizCenter, and choose General Information (as topic) to create a thread for discussion. On the top of the WorldWide BizCenter page, there is a HELP link to assist you making an efficient use of the discussion board. This link also is useful

Many thanks for subscribing to Africabiz. See you here on July 15, 2010.

  Dr. B.M. Quenum
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Business Opportunities


A new operational technology/equipment - pictured here (The Green Energy Machine /GEM) - now permits the transformation of all kinds of waste (vegetable wastes, plastic packaging, and used-rubber tires) into synthetic gas to powering electricity generators. The raw materials /waste are piled into the machine, to be transformed into fuel pellets, which are further converted into synthetic gas to electricity's generators.

The minimum intake of trash/waste is two tons per day, which make it a good investment for waste management and power generating system for agribusiness concerns, small municipalities, hotels, apartment blocks, industrial plants. Etc.

The GEM takes up three car-parking spaces. The selling price beginning of year 2010 stands around US$850,000. A valuable investment which ROI would be in the range of 3 to 4 years, according to the manufacturer.

Click here to read more about the matter

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Control Your Desktop


In a previous delivery it had been stated that an Africabiz Online computer is running Microsoft VISTA ULTIMATE 64bits operating system loaded with Microsoft Security Essentials (an extraordinary Security Suite / FireWall, Anti-Virus, Antispyware. You need to just install and forget about it. It is the perfect sentinel that would warn you if any danger lurks around. No aggressive marketing, constant update. It is FREE.)

It is important to be aware that rogue software companies are trying to catch on the popularity and efficiency of Microsoft Security Essentials and luring people to download and install their fake "clone".

UPDATE TO THIS DELIVERY: August 30, 2017: You might find it helpful visiting the following webpage that provides a free guide to computering and Internet security.

For more on the matter visit this link

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Freebie Of The Month


Most of the times, projects implemented in developing countries are structured with outdated technology. Indeed, investors just proposed known and "tested" technology - not seraching for the most efficient one that might be available.

That is really unfortunate as score of new manufacturing technology are coming up daily that are more efficient than the old ones.

A good Internet search can provide plenty of possibilities to draw from. is one of the sites that offers valuable information, tips, hints and links to assit developing countries's decision-makers make the right choice. Click here to see what it offers!


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