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Trading And Investing In & Out Africa

ISSUE 133 - VOL 2
October 15, 2013 - January 14, 2014

Dr. Bienvenu-Magloire Quenum
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Welcome to the quarterly issue of Africabiz Online /free access Synopsis & RSS Feed edition. Previous issue available at this link

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To Speed Up the Developing Process, African Countries Need to Depart From Financing Rules Established by the Bank of International Settlements.

By Dr. Bienvenu-Magloire Quenum

As briefly exposed at the beginning of this article, the Bank of International Settlements (BIS) forbids affiliated Central Banks to directly issue (national) bank notes/funds to assist government in the developing process.

Indeed, Basel I, Basel II and Basel III rules and procedures do not allow for a national Central Bank affiliated to BIS to participate directly in the developing process of said nation.

Governments are obliged to borrow money from extra-national/external entities (The World Bank, the IMF and other big financial institutes/corporations), paying back huge interests in addition to the ones charged by the local bank/financial institute managing the "granted" loans.

Consequently the developing process in emerging nations is slowed down first by the scarcity of funds, and second, when funds are available by the steep increase of production costs resulting from applied usurious interest rates - rendering produce non competitive on the international market place.

So, one has to ponder about how to solve the conundrum of financing projects in emerging country, to lower excessive financial charges that are detrimental to the social betterment of the population and the fight against rampant poverty - together with being a huge handicap to boosting the global economy.

Development banks had been setup throughout the continent to no avail as they still operate under the aegis of the Bank of International Settlements.

Some countries issued complementary currencies to circumvent the scarcity of bank notes (issued) by central banks, as explained at following links [a, b], to making credit/money available to communities in dire need of financing to produce goods and services.

The usage of a complementary currency, is, however, a palliative as it still operates within the framework of the Bank of International Settlements' rules and procedures (Basel I, Basel II and Basel III).

Indeed, under said rules and procedures, a part or the totality of revenue gained by small operators/entrepreneurs and agriculturalists (using the complementary currency) have to be transformed/exchanged - at a certain moment, into the official currency bank notes at a clearing house as here briefly exposed.

- Public/National Central Banks Independent From the Bank of International Settlements Are the Answer

Emerging nations - African countries in particular - would tremendously boost the developing process if the problem of scarcity of funds to financing big development projects is solved by a national financial entity that provides credit to the government - on demand and at very low interest rate.

That is what Australia did at the beginning of its developing process to becoming a developed nation. (For more on this you may subscribe to Robert Clinck's YouTube Channel and listen to Jeremy Lee explaining in a series of videos how a cabal hijacked the Australian Commonwealth Bank/social bank and replaced it with the privately owned banking system that put Australia into debts. Here you have an introduction to Jeremy Lee's videos.)

To further explain the benefits of establishing state owned banks to boosting the economy, to provide jobs (on demand) to the population, and improve the social well being of the entire nation, let us listen to Bill Abram exposing the perversity of debts engineered by Central Banks operating under the leonine financing rules and procedures established by the Bank for International Settlements.


- What is Exposed in Above Video is Valid for African Nations

If you replace the word Canada by Africa, what Bill Abram exposed in the above video is completely valid for any African nation.

Observe the debts' evolution graph presented by Bill Abram when Canada has the control of money creation and what happens afterwards when that sovereign right had been handed over to the Bank of International Settlements.

In short when Canada lost the sovereign right to issue money the nation become enslaved to debt as African is nowadays. The wealth of Canada being systematically siphoned, vacuumed, and transferred into the hands of the global elite that control the Bank for international Settlements as here exposed by Michael Snyder.

- To Boost the Development Process African Countries Need to Setup Social/State owned Banks

Above discussion clearly shows the benefits gained by a country that has a state owned banking system independent from the Bank for International Settlements. Such a system tremendously boost productivity as shown by the graphics exposed by Bill Abram, far beyond what a complementary currency does - as it permits the implementation of large scale infrastructure project, which a complementary currency alone cannot.

MORE ON SOCIAL/STATE OWNED BANKS
1- As The Public Bank Solution:
From Austerity to Prosperity [Kindle Edition]
2- Web of Debt:
The Shocking Truth About Our Money System and How We Can Break Free [Kindle Edition]
3- Empower the People
Overthrow the Conspiracy That is Stealing Your Money & Freedom [Kindle Edition] by Tony Brown
4- How Wall Street Fleeces America:
Privatized Banking, Government Collusion and Class War [Kindle Edition]
5- The Creature from Jekyll Island
[Kindle Edition] by G Edward Griffin (Author), Peter Klimon (Editor), Carleen Taylor (Editor)
6- Secrets Of The Federal Reserve
[Kindle Edition] by Eustace Mullins

7- Corruption at the World Bank
YouTube video by a whistle blower
8- Tower of Basel:
The Shadowy History of the Secret Bank that Runs the World [Kindle Edition] by Adam LeBor
9- Financial Vipers of Venice:
Alchemical Money, Magical Physics, and Banking in the Middle Ages and Renaissance [Kindle Edition]
10- China's Superbank:"
Debt, Oil and Influence - How China Development Bank is Rewriting the Rules of Finance (Bloomberg) [Kindle Edition]
11- The International Financial Crisis:
Have the Rules of Finance Changed?
12- International Law as Social Construct:
The Struggle for Global Justice [Kindle Edition] by Carlo Focarelli

Adobe Acrobat Reader is available here

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

"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".

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Many thanks for subscribing to Africabiz. See you here on January 15, 2014


  Dr. B.M. Quenum
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