Poor Africa!
At the dawn of a very delicate presidential in Côte d ‘ Ivoire, the president of the French Republic comes to play a pass in the country of Houphouet Boigny by announcing the “death” of the CFA in West Africa.
When will these french people stop taking us for donkeys? The period chosen is not confused. What Emmanuel Macron is trying to do is to save his accomplice as an agent of great global capitalism; a docile servant of the great global economic predators who made the bed of the “Yellow vests” in France, and serves as fuel to the big Strike movements in this country.
And then what is this ” Eco ” if not a ” CFA ” with a better ” hide sex
French-Speaking Africa suffers from the action of a formidable predator: France. But our children and grandchildren won’t let it happen.
The disappearance of the cfa in the west African monetary union (WAMU) for the losers.
The Cfa Franc issued in the WAMU zone that counts: Côte D ‘ Ivoire, Senegal, Mali, Niger, Burkina Faso, Togo, Benin, Guinea-Bissau, will disappear from name to give way to eco. 1 CFA FRANCS BECOMES 1 ECO
This does not mean that the cfa will no longer have legal tender, it will continue to serve complementary currency, and will be gradually taken up by central banks against eco.
What changes in reality:
Foreign exchange reserves will be officially hosted at the BCEAO, in ” all But the BCEAO will continue to open foreign currency accounts in the various external banks of its choice.
The assets of the operating account with the French treasure, in euros, will be transferred either to the bank of France or to the European Central Bank, to facilitate the payment in euro.
Other currencies will be able to follow the paths, China, United States, Great Britain…. etc. Always in trade amenities.
What happens to France in all this?
France comes out through the door, with its representatives, but comes back through the window to guarantee the Eco.
What would that mean?
The Guarantee of France strengthens the stability of the Eco towards the euro. It is therefore committed, in the event of currency exchange, to provide them to the BCEAO, in order to avoid payment and union.
What is the reward for this guarantee?
To believe that the guarantee does it by humanity is not to know him. This is where the devil would be in the detail.
To put it clear, France, by taking the Eco, reassures investors and multiple donors, but above all, increases its political influence on all member countries. She could always threaten to withdraw her guarantee, to obtain a position. Imagine the impact with rating agencies in case of withdrawal of the guarantee of the hexagon.
Overall, the divorce, wamu and the treasure French, ends up winning.
By Benjamin Zebaze and Jules Marie Kemajou