Why Africa needs its own currency in the new world order

Why Africa needs its own currency in the new world order
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If you believe the conflict between Russia and Ukraine is about territory, statehood, or sovereignty, you’re wrong; it’s all about currency, let me demonstrate.

Let’s go back to 2000 in Iraq when Saddam Hussain states he would no longer accept dollars to sell his oil. “Iraq says it will no longer accept dollars for oil because it does not want to deal ‘in the currency of the enemy. ” What happened next? “BOOM!” Iraq. Fast forward to 2011, and Gadaffi wants to sell its oil in gold. BOOM! Libya.

Now in 2020, a financial alliance with China and Russia to dethrone the US Dollar has been made, and it makes me wonder if it is Russia’s turn?

What you have to know is whoever controls the currency controls the oil. Which leads them to control energy to fuel their economy.

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How did the great US become the world’s superpower?

Let’s go back to the good old days of 1969, when the world standard was gold and there was partial equality between nations. For example, in Ethiopia, it was the reign of Haile Selassie and 1 dollar was equivalent to 2 Ethiopian birrs. And in the US, Richard Nixon was president.

During that time, there was a war going on between the US and Vietnam. The Vietnam War began shortly after the end of World War II in an extremely limited capacity and, over a period of 20 years, escalated, peaking in April 1969 with 543,000 American combat troops stationed in Vietnam.

As you know of course war has a cost and the Vietnamese knew these and they knew they couldn’t beat the US in a head-on war. So they did what the westerns hate the most, delay the war as much as they can the US has a technology by its side, Vietnam got time.

Back then, central banks had an equivalent gold supply to every paper currency in circulation, so the government had a limit on printing money that gave investors and governments a stable economy, and also wealth inequality wasn’t that much of an issue.

Now there was pressure on Nixon because he needed to finance the Vietnam war. To do that, he needed to print money because the US is going bankrupt, so he did what any logical person with balls would do.

On August 15, 1971, he came on TV and told the whole world the US will no longer exchange its money for gold. in other words, “I can do whatever I want with my money”, And the world said ok.

The next step is to find an oil that fuels the country’s economy. The demise of the Soviet Union and the Nazis was largely due to a shortage of energy, specifically oil. Even now, oil is an essential pillar for a strong economy.

You might argue by now oil isn’t essential but don’t take my word for it even Elon Musk tweeted how necessary oil is for growth in his latest tweet.

Back in 1973, Nixon knew he needs an oil, so what did he do?

He sent a man named  William Simon and his deputy, Gerry Parsky, on a trip that was touted as a diplomacy tour across Europe and the Middle East.

Their mission was to neutralize crude oil as an economic weapon and find a way to persuade a hostile kingdom to finance America’s widening deficit with its newfound petrodollar wealth, and returning empty-handed was not an option and they didn’t.

In return, the U.S. struck a deal to buy oil from Saudi Arabia in dollars, and in return, it will provide the kingdom with military aid and equipment. So the Saudis started to plow billions of their petrodollar revenue back into treasuries and finance America’s spending.

Thus masking the dollar the standard currency in which oil will be traded. In return, it makes it the most powerful currency in the world.

The current state of the dollar

Since 2008, it has become clear that the US dollar is devaluing itself. You might ask why that happened; the answer is why does any other country’s currency become devalued?

It’s because of the recklessness of central banks and the government’s becoming thugs, believing they can print all the money they need to fuel their economy. Let me give you an example, in the US.

  • In 2008 it bailed big institutions by printing more money.
  • In 2020, we remember the 2.1 trillion relief fund given for US citizens.

We can go on, but let’s focus on the recent 2.1 trillion one. When the government decided to give that amount of money to its citizens in 2020, it is unknowingly committing a currency suicide because, according to basic economics, as the supply of money increases, so does the price of goods.

Remember when I told you the standard currency to buy oil is a dollar? So, if the supply of the dollar can increase the price of goods; oil will be the first to rise. what is oil? It is energy. Why do we need the energy? To produce, transport goods… if oil increases everything increases.

Russia, China, and India knew the recklessness of the FED. They are becoming more confident about not trading in US dollars because if they continue to do so; their country’s economy will be unstable due to external forces.

The current world system

Capitalism as we know it is no longer viable! Let me explain.

What is capitalism? An economic system based on the private ownership of the means of production and their operation for profit.

Simply said, everyone with the required information, ability, or talent has an equal opportunity of competing in the market, regardless of location. But ask yourself is that true? if your answer is yes then let me ask you 3 questions.

  1. Why are you getting paid low wages in Africa?
  2. When you go abroad with your doctorate degree, why do they refuse to hire you?
  3. Why is it that being born in Africa puts you at a disadvantage compared to people born in other regions of the world?

You see, when capitalism is not properly implemented, it turns into exploitation (Imperialism). Imperialism is a program or philosophy that involves expanding domination over people and other countries in order to gain political and economic power.

That’s why Che Guevara fought to have an equal opportunity for his people, but without one currency, there is no equality, there never has been, there never will be.

You might say there must be one global order there has been in the course of our history, I will tell you you are right but my question is, are we that much of a traditional society that is fixed in which one flourishes by following larger societal norms unquestioningly, in which one lives within a confined worldview closed off from other ideas.

What will these mean for Africa?

Whether we like it or not, the new world order will emerge in the next years because the current one is flawed. We can sit and watch when the yuan overtakes the dollar, but it wouldn’t benefit any of us, I mean Africans. The best thing China can do is wipe out our debt to gain support from us and we will go back to the same loop, and guess what wealth inequality will still exist. Let me put it in perspective.

In my industry which is Digital Marketing you can grow using 3 methods

  1. Organically
  2. Paid
  3. Hybrid

Of course, the last one is the best, but not an option for most African countries. We can work 15 times to get a 50-dollar result.

What I mean is that, although I work hard to expand my business organically by using multiple cheat sheets and generating high-quality content, someone in the United States may obtain identical results in one day for only $50 or less. Now my question is how is that fair?

This is true across all industries in Africa. Other countries’ workers get paid more for performing fewer hours of labor, while your government promotes you as a disposable commodity that can be bought and sold! Why is that fair? Do you know what makes something cheap? Cheap governance leads to cheap policies that lead to cheap currency. Meanwhile, in my country, many die due to a lack of healthcare. Their country’s citizens live long enough to see their grandsons. Why is that fair?

So what should we do?

The answer is currency, and the only chance we have is now when no one is looking. Everyone says we have a vast amount of resources, colonization, and blah blah. I say so what? What are we going to do about it? It’s time to stop the talk and walk the walk. This is our golden moment, so you might ask how are we going to do it.

  • Step One: Establishing a Central Bank Because African governments are the monarchs of all thugs. Both your and my governments must be under control.

Distributing currency based on their resources will reduce the wealth inequality between nations and citizens within a country. It also limits central banks’ ability to print more money, making them more responsible. That’s why governments don’t want other central banks to control their money.

  • Urgent matters need pragmatic solutions: That’s when digitalization comes into play. We don’t have time to print paper money, but we can print digital money at the touch of a button. Remember the hybrid model I mentioned earlier? It must be followed. Every African with internet access should use this digital currency. The ones that don’t will have access to paper currency.
  • Swift is a messaging network that financial institutions use to securely transmit information and instructions through a standardized system of codes. And we must have our own one.
  • We must strengthen our regional communities. In this time of publishing, Africa has eight regional communities: AMU, CEN-SAD, COMESA, EAC, ECCAS, ECOWAS, IGAD, and SADC. One of the main purposes of these Regional economic communities is the facilitation of trade. As a start, these regional communities serve as a pillar of trade.
  • The last one is the simple one, making the currency a standard by which Africans trade-in.

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