G-8 Aid is not Fair Trade But BAD DEAL

[billy1944]

Peace!

The question begs is African development the responsibility and job for Africans or the G-8 to do?

 

If it is for Africans, then each African need to carry his fair share of the load. This is self-help. Starting from the ground up, Africans must own, control, and develop its own interests.Every culture does that. Let's not change the rules (???) on that. :rolleyes:

Usually missing from the agenda is the most important item and is given scant-attention though it is the proper and right solution. The MONEY and where should it come from !

Money, or the lack of money is the problem that Africans can overcome by using some of the abundant precious metals which can be minted into a single AU currency as legal tender. This can provide comprehensive development across the continent while improving and increasing

intra-Africa trade. Trade and development is the only route to prosperity in Africa. Equal development across the continent is a desired goal that can be reached when Africa can control and regulate its OWN money supply, rather than being subjected to foreign funding.

Without the single currency, the AU will prove a waste of valuable talent diverted from an otherwise fine model beginnings.

 

The G-8 and its allys, IMF and World Bank, continue to (mis)develop Africa by forgiving prior

corrupt-laden loans over and over again then squeezing the peoples treasury by charging debt service and penalty fees. These actions cause much less of the peoples money to be available for the peoples to spend among themselves.

Their debt-forgiveness serves as a penalty to Africa and a double, and sometimes triple-dip for commissions as gains for these bankers. :mad: Very little is given, yet much is taken away. This is a path for Africa to only self-destruct.

One would think that if expensive debt-service and penalty fees are payed to the banks for use of a loan, then that should be the entire value of that particular loan. :cool:

Any further conditions placed upon a loan will under-value the loan and over-value the debt-service. This amounts to a free ride for the banks. It has been reported that every dollar lent to Africa by the G-8 returns to the lender twelve dollars! :eek: This is an outrageous profit and should be taxed accordingly by the host government; or better yet, these type deals ought never be made.

This is NOT the way to prosperity. Say NO to the G-8 aid and yes to development.

 

In conclusion, we are at a crossroad and a crucial decision have to be made about the destiny of

our beloved homeland.

Will Africans continue a path that will lead to being a continent of consumers of G-8 products or can they break the mold and become self-sufficient people by increasing trade among

themselves. A campaign to "BUY PRODUCTS MADE IN AFRICA" could be an effective way to

remind people of the importance of "carrying their fair share of the load".

Finally, fair trade must be emphasize over foreign aid. There would not be any need for foreign assistance if Africa received a fair price for its products and resources.

 

Thanks for your interest.

Larry L. Edwards

sovereign national