Thursday, 19 August 2010

Africa's sickness..

This is a post I have borrowed from Beppe Grillo's blog. Read more about Beppe Grillo here.

Africa sickness

In ten years in the global banking system, everything has changed. Apart from in Africa. In 1999 the American and British banks were dominating. Four of the top four positions for capitalisation. On the Stock Exchange, the American banks were worth about half the value of existing banks.

concentrazione_banche_1999.jpg

Today, in first, second and third positions there are the Chinese banks: Industrial & Commercial Bank of China, China Construction Bank and Bank of China. The American and British banks have lost two thirds of their value. New banking centres that before hardly existed have sprung up: Brazil, Canada, Russia, India, and Australia. The banks have expanded into every continent (except one), from a phenomenon that was mainly western and Anglo-Saxon to a planetary distribution.

concentrazione_banche_2009.jpg

Capital has arrived everywhere but not in Africa. A continent without capital but with enormous resources. Anyone with capital is buying up resources. But those who sell them stay with no capital and no resources. Where's the trick? Africa has suffered colonialism, then the exploitation of its primary resources and now the expropriation of its territory. Korea and China do shopping for immense agricultural lands in Africa, the size of European states. The government of Madagascar went down after an attempted sale of part of its territory to Daewoo.

You can’t eat money. It’s a good that is not solid, metaphysical, that can be created from nothing. Money is created, resources are destroyed and Africa is a consumer good. There is a hypothesis that 30% of the planet's mineral and metal reserves are in Africa. If up until now, from the African continent, there has been plundering of gold, diamonds, uranium, manganese, nickel and cobalt, in the future they will take maize, soya and wheat to keep the world from starving and leave the Africans to starve. Land is bought or leased thanks to a corrupt government. The local people work the land. The foreigners eat the produce. Anyone with land and water will live only if there’s a national bank in the area. You can’t eat capital but it is top class for starving your neighbour.

It is no longer necessary to line up the army at the border, it’s enough to have the capitalization of the national banks. To fight the world war, the toxic assets for export are worth more than atomic bombs. You introduce them to the foreign banks and the State fails just like has happened in Iceland, and as is about to happen in the Ukraine. Only capital can defend us from capital in a capitalist system. Perhaps it’s the moment to change the system. In Italy, we will eat cement, we are destroying our agriculture. In compensation we have no capital, just debts. We will die of hunger but with nuclear power stations, the Bridge over the Straits of Messina and an extra room. Do you want to have that satisfaction?

* Images comparing the concentration of the banking system 1999-2009 from The Financial Times.

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