Asians, Africans, Russians, Muslims & Latin Americans Proud of Their Achievement, Ending the Western Era !

Among their gigantic achievements is, now they can PRINT AS MANY OF THEIR CURRENCIES AS THEY WANT, in order to finance projects. They don't need to take loans from foreign countries, if they have the inputs locally.


That would explain, why we have suddenly so many projects in Africa. The only "conditionality" for African countries TO PRINT THE CAPITAL THEY NEED is to have the inputs locally, like cement, steel and manpower. That is far less conditionality than from the Bretton Woods institutions, also, unlike the limited resources of those Western institutions, the African countries can print UNLIMITED AMOUNT OF THEIR MONEY (like the "till now privileged" Western parasite nations were doing), to finance unlimited number of projects.

Top 5 ongoing mega projects in Africa 2022

You do realize the mega projects are being financed by loans from China? The West may act as corrupt Bankers, but the Chinese are mobster styled loan sharks.

Ask Zimbabwe what happens when you over print a currency. Heck, look at the economic damage done in America by such recklessness.

Why should they take credit for the work of Israel ?

If the inputs for projects are found locally, THERE IS NO NEED TO TAKE FOREIGN LOANS says an expert, you simply print your currency and pay the suppliers of the inputs (cement, steel, manpower, ...) with that money.

It's interesting that you didn't mention your own tribe, Rabbi.

Yep, its them who did it, while usa whites gave money to them, to turn around and destroy western society they leech off.

Germany should never of been given those people anything, they set germany up.

Here, an expert explains why foreign currency is not necessary in certain cases, that means, by availability of inputs locally.


Quote:

Bonnie Faulkner: You write that, “The objective of the coup d’état was to deny Brazil’s sovereignty in the formulation of macroeconomic policy.” Why is Wall Street or the United States against a nation’s sovereignty?

Michel Chossudovsky: That’s a very important question and it really has to do with monetary policy. Monetary policy really defines the sovereignty of a country. It’s the ability of a country to actually finance its own development through lending to the private sector, the building of public infrastructure and so on. To do that, you have to be able to increase the levels of internal debt. We do it in the United States and Canada and so on. We use debt operations to fund the infrastructure, roads, schools and hospitals.

But what is at stake in developing countries is that the currency is dollarized and in currency markets it’s upheld by dollar-denominated debts, which have to be incurred to support the currency. So that when you start expanding the money supply to finance development – it’s a difficult and complex mechanism – you really have to borrow in dollars, and really what it means is that your currency really is a proxy. It’s a dollarized currency, so that each time you want to build a road or a bridge or a hydroelectric complex using your domestic resources, you have to increase your indebtedness in dollar terms. In other words, the internal debt becomes a foreign debt.

That is ultimately what happened in Brazil with the Real Plan. The Real Plan established the real as the Brazilian currency on a peg with the US dollar, sustained by persistent propping up of the currency to maintain that parity. And what it meant is that Brazil was indebting itself in terms of dollars and each time it expands let’s say its levels of expenditure and so on so forth it ultimately has to borrow in dollars. What that means, to get back to the question, is that it’s Wall Street that controls monetary policy and all actions of internal development, funding infrastructure, schools, roads and so on, requires borrowing dollars to do it.

I’ll give one example of this. Vietnam, in the wake of its normalization with the United States, decided to initiate a major project of repairing the country’s main highway, which links the capital, Hanoi, in the north to Ho Chi Minh City, or what was formerly known as Saigon. It’s called Road Number 1. The east coast of the United States also has a road linking New York right down to Miami.

What happened is that the project was to repair the road, and for that they had to have an international tender by construction companies coming in – big multi-million dollar contracts – and to repair the roads they needed foreign capital. But in fact, what the foreign capital would do was to subcontract with local enterprises which then would build the road. What happens under that type of mechanism is the transformation of an internal debt into an external debt. You don’t need to bring in foreign capital to repair a road, or even to build a road. The technologies are there, the know-how is there, and you don’t need much investment in terms of capital or materials. It’s all local.

And that disturbs the mechanics. Immediately these financial institutions, once they normalize with the country they will say, ‘Okay, we’re going to lend you money under World Bank project to build a road but there has to be an offer of tender to international construction companies, etc. And then the money we lend you, you use it to pay these companies.” That’s how countries get indebted and they are unable under World Bank, IMF auspices to mobilize internal debt operations. I’ve seen this in numerous countries. There’s what is called the PIP, Public Investment Program, which is a list of projects and the World Bank ultimately goes through this list and they can choose which ones they want to finance, and they override the government in the choice of investment projects.

That is ultimately what economic sovereignty is all about: It’s the ability of a country to use its monetary instruments to finance development, and that ability is denied under the prevailing relations that these countries have with the International Monetary Fund and the World Bank and the creditors.

I AM not white I am yellow golden sun/son being!!

Golden Dragon Being!

You were suppose to protect us not consume us!

And I m in the West!!

If it can be so easily destroyed by a few low-IQ third worlders, was it really so great ?

But you would still have to pay externally for someone to build it. Africans don't build, they destroy.

Foreign currencies are necessary only if some of the inputs are not found locally, such as machinery, insurances, services like consulting, etc.

Let's be real, the West was destroyed by social AIDS. A race/ethnic of people that act like an AIDS?HIV virus in any nation they inhabit. That are a curse on the land.

I hate the currency racket too, but I'm talking about value, either perceived or real. Just because a country prints its own currency doesn't mean anyone will perceive that currency as having any value. People smart enough to design and build huge engineering projects are unlikely to accept African currencies as payment. There is simply no track record of functional African government unless they are ruled by non Africans, ie. white people.

LMAO, a primitive Eurocentrism by a Neanderthal with colonial dreams.

By the way, so-called soft currencies and hard currencies are fraudulent terms, as so-called hard currencies are not any harder than the "soft currencies", eg Germany's Reichsmark, the USD, Franc, Peseta, Lira, Pound, ..., the advantage those Western currencies have or had is the reserve status, otherwise the Western countries print their currencies no slower than the issuers of soft currencies.