This video below was an eye opener for me. It talks about France’s neocolonialism through its CFA franc monetary system. The system mandates it’s former colonies to put 50% of their foreign currency reserves in to the french treasury and another 20% for liabilities. Although the system does provide the former colonies with a stable currency but in turn ties up a huge portion of their reserves with the French monetary system.
The French themselves acknowledge that their economy is propped up by the exploitation of the African economies. So much so that Jacques Chirac the president of France remarked, “Without Africa, France would slide down into the rank of a third world power.“
This short documentary takes you through the shady tactics played by the French to maintain their dominance on their former colonies. And if you like it, read this report by the BBC to deepen your insights and this reddit thread for opinions that should matter and be acted upon (at least I feel that way.)
It’s shocking that this is happening now in the 2019!
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