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Showing posts from April, 2016

The machine gun and the Berlin conference- Africa must learn SCIENCE to survive into the future

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 Where is our mother of all bombs in Africa? Where are our nuclear weapons? The machine gun and the Berlin conference  I've been thinking aloud for some days now about the Israel-Iran conflict. And with the US entering the conflict, it's now a war, some people even say this could be the beginning of the third world war. This keeps me wondering: what if this conflict was between Israel and Nigeria?  What if this war was between Israel and Ghana? What if this war was between Israel and Uganda? What if this war was between Israel and Kenya or Zimbabwe or Ethiopia or Sudan or any other African country? If that was the case; how will we defend ourselves? I now fully realize why Dr. Amos Wilson, during one of his lectures asked; if white people decide tomorrow that they want to remove us Africans from this planet; how will we defend ourselves?  They've already tried doing that in the past, it's just that they didn't succeed. And there's nothing in history that says th...

Disadvantages of IMF- The international Monetary Fund (Part 2)

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Disadvantages of The international Monetary Fund (IMF)- (Part 2) 11). Passive approach by IMF The IMF has been passive in its approach and not been effective in promoting exchange stability and maintaining orderly exchange arrangements. This is considered as one of the major disadvantages of IMF. The original fund agreement permits fluctuations of exchange rate within limits. It can fluctuate within a range of one per cent above or one per cent below the official price. This is called adjustable peg system. The exchange rate of currency was fixed in terms of golden dollar. Over years, U.S gold stock declined and U.S balance of payments suffered. It led to the collapse of Bretton Wood System in August 1971 when U.S refused convertibility of dollars into currency. Member countries were also following diverse exchange policies. These events simply prove that IMF was not able to maintain a uniform international exchange system which is a big disadvantage. 12).  Unsound pol...

Disadvantages of IMF- The International Monetary Fund ( Part 1)

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Disadvantages of the international monetary fund (IMF)- (Part 1) What is the international monetary fund (IMF) ?  The International Monetary Fund and the World Bank were created in 1944 at a conference in Bretton Woods, New Hampshire, and are now based in Washington, DC. The IMF was originally designed to promote international economic cooperation and provide its member countries with short term loans so they could trade with other countries (achieve balance of payments). Since the debt crisis of the 1980’s, the IMF has assumed the role of bailing out countries during financial crises (caused in large part by currency speculation in the global casino economy) with emergency loan packages tied to certain conditions, often referred to as structural adjustment policies (SAPs). The IMF now acts like a global loan shark, exerting enormous leverage over the economies of more than 60 countries. These countries have to follow the IMF’s policies to get loans, international assistance, ...