Maybe it's time to change the tone or narrative of this thread maybe just a idea since we all are in the same shitty boat, black people, African, African American, Somali where ever they are keep staying inferior, and this thread with the constant childish bickering proofs that.
How France loots its
former colonies
By Siji Jabbar on January 24, 2013 — We try to keep a positive vibe going here at This Is Africa, but every so often you come across something that just paints your mood black. Some of you may already be aware of this, but if like us you're hearing about this for the first time your jaw will drop. And it'll probably raise the same BIG questions in your mind that it did in ours.
Incidentally, once you read this you’ll no longer wonder why French presidents and ministers are sometimes greeted by protests when they visit former French colonies in Africa, even if the protests are about other issues. Though what other issues could be more important than this one we have no idea.
Monetary bankruptcy
Just before France conceded to African demands for independence in the 1960s, it carefully organised its
former colonies(CFA countries) in a system of “compulsory solidarity” which consisted of obliging the 14African states to put 65% of their foreign currency reserves into the French Treasury, plus another 20% for financial liabilities. This means these 14 African countries only ever have access to 15% of their own money! If they need more they have to borrow their own money from the French at commercial rates! And this has been the case since the 1960s.
Believe it or not it gets worse.
France has the first right to buy or reject any natural resources found in the land of the Francophone countries. So even if the African countries can get better prices elsewhere, they can’t sell to anybody until France says it doesn’t need the resources.
In the award of government contracts, French companies must be considered first; only after that can these countries look elsewhere. It doesn’t matter if the CFA countries can obtain better value for money elsewhere.
Presidents of CFA countries that have tried to leave the CFA zone have had political and financial pressure put on them by successive French presidents.
thisisafrica.me/france-loots-former-colonies
And it is the same shit everywhere on this planet for black folks, may they be African American, African, Somali, Carribean, the cadaan/white man banking and laughing at our expenses through divisive strategies waar we in the same bloody boat 