France has the 4th largest gold reserve in the world. How?
France holds 90% of the gold reserves of 15 African countries and pays 0% interest on what it makes from those reserves since 1945. These nations however borrow from #France from their own reserves with interest!
France holds 90% of the gold reserves of 15 African countries and pays 0% interest on what it makes from those reserves since 1945. These nations however borrow from #France from their own reserves with interest!
When #France created the CFA which was inspired by the monetary system the Nazi imposed on #France during WW2, the FCFA parity was at 50 to one French Franc. On 12 January 1994 #France had the IMF devalue it by 50%: we woke up twice poorer and indebted to #France!
The arguments some are giving to justify the cruelty of the #French colonial empire in #Africa are laughable. Stating that our gold reserves are safer in #France: what a joke!
What do you call safety when the French government assassinate our presidents who ask for our gold back?
What do you call safety when the French government assassinate our presidents who ask for our gold back?
How France maintains its credit rating? By keeping our money.
Source: Brookings Institute.
Today the Euro is benefiting from the CFA through France’s colonial monetary system imposed on these 15 African nations through dictatorship, coups,and assassination of our presidents.
Source: Brookings Institute.
Today the Euro is benefiting from the CFA through France’s colonial monetary system imposed on these 15 African nations through dictatorship, coups,and assassination of our presidents.
“In 1960(…)Jean Boissonnat, the economics editor of the liberal Catholic daily La Croix wrote, France had enjoyed a good run for its money, having accrued gains through the CFA zone of hundreds of billions in low-cost trade transactions(…) lrb.co.uk/the-paper/v43/…
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