Monday, October 26, 2026
Home Blog Page 4555

ALTERNATIVE MONETARY SYSTEMS

0

That the current global monetary system is inherently deficient and needs a complete overhauling is no more in doubt, at least amongst critical thinkers. However, the empty suits or banksters for short, who have been instrumental in dismantling the productive segment of the global economy, in favor of rent seeking crony capitalism, might not agree. After all, it is they who created ‘fiat currency and ‘Fractional Reserve Banking’, which are at the root of, not only polarizing globalization, but also ecosystem destruction. See the article next column and others on page 28, 41, 44 & 46. The ongoing globalization that is promoted as if it were manna from heaven is on track to deliver the most polarized world humanity has ever seen. Thanks to the criminal enterprises of fiat money and fractional reserve banking, the 1% will soon own two thirds of global wealth!
The phony system of fiat money (money that is backed by nothing except the perpetual lies of states), which has removed even the slightest semblance of responsibility from the whole monetary equation, is probably on its last leg. A number of the core principles of ‘sound money’ are violated when ‘money’ is issued privately without any real backing. All the currencies we use in our daily lives are not backed by anything, except the words of the states and their accomplices, the notorious banksters. And we all know what that means! No wonder prudent people still hang on to precious metals, like gold, silver, etc. to preserve the value of their hard earned wealth, however meager that might be. These metals tend to hold their values or even appreciate over time vis-à-vis paper currencies. Other forms of investments (like real estate) are also used to hedge the continuous value-losing propositions of fiat currencies. The current vigorous initiative to replace paper currencies with crypto-currencies stem from this protracted problem of continuous printing of valueless papers. Inflation is one of the byproducts of the current global monetary system. Governments use inflation as a tool to bring down their (usually local) debts, but the effect on the unsuspecting sheeple has always been disastrous. When inflation becomes intolerable, riots and more, tend to be the order of the day!
Another of the foundational problems of modern finance is ‘Fractional Reserve Banking’. In a nutshell, it is pure scam, a fraud of grandiose proportion. As we never tire of repeating; ‘Fractional Reserve Banking’ is the biggest non-violent crime of the millennium, according to our holy book of honest money. The reason for this assertion is quite simple. When a bank creates money out of thin air and disburses this phony money as credit/debt into the larger economy (with interests), this very action dilutes the real money earned by labor, mental or physical (think those on salaries and wages, informal sector, etc.). It is this fraudulent act that is significantly contributing to the extreme polarization of the modern world system. By and large, the modern day wealth of the parasitic oligarchs is derived from this gimmick, not from actual tangible work! Amazon has never made a profit in its entire existence, but has managed to disrupt whole sectors of an economy. The US Mail loses about $1.50 for every package it delivers on behalf of Amazon. On the other hand, Amazon is expanding without bound (literally), and it is not because of organic growth. It is growing because it is allowed to leverage the easy money regime of global finance, so that it can buy out competitors, (potential and actual). Soon, it will end up becoming a monster that monopolizes all and sundry. May be then it might be interested in real moneymaking operations; ditto many of the giant tech firms (Tesla, Uber, Twitter, etc.)! Even the poorer countries of the world system have become quite adept at this financial contraption. Just look at our mini oligarchs, so-called ‘investors’. How did they come up with so much money without (hardly) ever lifting a finger? Billions and billions of birr is systemically transferred from the present and future earnings of the working stiff, (including genuine entrepreneurs) to the current cronies connected to TPTB (The Power That Be). State created oligarchs are now the movers and shakers of Ethiopia’s highly speculative and consumption-oriented modern sector. Henry Ford once said; if people only knew how banks create money, there will be a revolution tomorrow’!
The sheeple sweats and bleeds to secure its meager livelihood. What it earns is hard earned money. By continuously creating money out of thin air, banks are stealthy appropriating the real earnings of the sheeple. They might not acknowledge it yet, but they are digging their own graves, so to speak. What is holding back the masses from pouncing on banksters is the usual ‘bread and circus’ game. Even in those ‘rich’ countries, the number of people living below the poverty line has been on the increase since the 1970s. Of course, there are all sorts of statistics and lies to camouflage/hide the reality that obtains on the ground. By delivering ‘free’ food and plenty of ‘entertainment’, the sheeple is kept at bay. One would think the parasitic elites of our world system would take notice and try to ameliorate the situation. No, no, no! What they are actually doing is; they are doubling down on their old gimmickry. Don’t be surprised if major wars break out soon, after all, ‘all wars are bankers wars’!
Critical thinkers are proposing different systems of honest money to be used across the board. But dominant interests, including banksters, are fighting tooth and nail to thwart off any proposed change to the existing system. After all, current banking is ‘rent seeking’ par excellence! Many alternatives to the existing monetary system have been proposed throughout the years and decades. One is community issued money. Another is a system of money where credit is created only by the state, under very stringent conditions, like the ‘gold standard’, etc. Multiple currencies, even in a somewhat closed community, (a city, state, etc.,) have also been contemplated. Gladly, there are a number of people in the world who are actively engaged in trying to change the foundational principles of the existing system, with a view to replacing them with a more equitable and resilient alternatives. There are many pilot projects under experimentation in many countries of the world system!
Here is a word of wisdom from an old entrepreneur: “A business that makes nothing but money is a poor business.” Henry Ford. Good Day!

EU, China’s African development assistance

0

The interdependency between security and development makes China an important partner for the EU. China has also emerged as one of the major donors and loan providers for Africa. Traditionally, China’s aid has been oriented towards economic sectors and often involves large-scale infrastructure projects. But the need to protect Chinese investments and an estimated one million of its citizens living in Africa, including in the most fragile parts of the continent, are driving China’s growing role as a security provider. China has already emerged as the largest contributor of peacekeeping forces among the permanent members of the UN Security Council and is constructing its first overseas military base in Djibouti, for example.
Chinese and EU assistance programmes are driven by substantially different development paradigms. EU aid is based on horizontal programmes, relies on grants and direct budgetary support, aims at poverty alleviation and targets soft sectors such as healthcare, education and governance. China’s approach is based on projects, relies on a mix of concessionary and market-based lending and concentrates on high-growth sectors such as infrastructure and mining.
These differences notwithstanding, synergies exist between China’s focus on hard infrastructure and the EU’s approach of supporting capacity-building and improving framework conditions and business environments. Most critically, China offers additional resources to finance development initiatives and foster economic growth. Similarly, the narrowing gap between EU development assistance and security interests, as well as China’s growing security presence in Africa both hint at a growing prospect for cooperation on security matters.
Despite the obvious potential of trilateral collaboration between the EU, China and African countries in promoting stability and prosperity, a comprehensive assessment of China’s role on the continent also reveals limits to more substantial convergence of European and Chinese development assistance. The overlap between Chinese commercial and development agendas will be one of the key obstacles. This discrepancy is most apparent in the Ministry of Commerce’s leading role in setting the development agenda and the fact that the main aid implementation agency, China Exim Bank, has an overarching objective to support Chinese exporters.
These two institutions pursue commercial considerations even when cooperating on issues seemingly dedicated to the development agenda. For example, China has informally championed four domains for multilateral and bilateral development cooperation: healthcare, environment, education and infrastructure. While these areas offer great development potential, Chinese objectives are tailored to further commercial or industrial policies in these areas.
Not all Chinese investments have lived up to the promise of economic benefits for the recipient countries. Chinese aid tends to be tied to the use of Chinese contractors and goods, limiting the benefits to the local economy. China is facing increasing criticism in developing countries regarding the social, environmental and political impact of its policies. Lack of respect for social and environmental standards and the limited lo- cal employment opportunities generated by Chinese companies have led to backlashes from some African elites and publics. The conditions attached to China’s aid also often run counter to EU objectives of good governance, human rights, macro-economic stability and market-oriented reforms.
Restrictions also apply to China’s security involvement in Africa. To date, China has deployed its troops only within UN peacekeeping frameworks and in many cases avoided high-risk operations. While the scope of Chinese participation in these missions is increasing, so will regional pressure on China to commit its troops to conflict zones. Some Chinese economic investments may even directly fuel conflicts by worsening corruption, exacerbating local fault lines and creating disputes over water and land resources. Unreported and illegal Chinese fishing in the waters off the coast of Western Africa may contribute to the resurgence of piracy in the region. Moreover, China frequently used to provided concessional financing to Zimbabwe and Sudan, often circumventing Western sanction regimes.
Michal Makocki, a Senior Associate Fellow at the EU Institute of Security Studies (EUISS)stated that the EU’s development agenda is increasingly driven by security and migration concerns. In turn, China’s security engagement is motivated by the need to protect its fast-growing economic interests on the continent. This makes the EU’s and China’s starting points closer than in 2008, when the triangular cooperation was first suggested, given the importance of sustained high economic growth for Africa’s stability. Michal Makocki noted that extending the EU-China Dialogue on Security and Defence beyond military circles to include development agencies could facilitate better coordination of different aspects of bilateral cooperation.
China’s 2015 pledge to establish an 8,000-strong peacekeeping standby force offers an opportunity to cooperate in the training of troops. Military-to-military exchanges could also translate into spill-overs of greater transparency in arms transfers, better monitoring of their end-users and increased sensitivity to concerns about fomenting conflict through weapon sales. Disaster relief and humanitarian cooperation offer another potential avenue to build confidence in practice.
China’s development agenda has shown to be responsive to conditions on the ground. Rather than normative prescriptions, it will be local frameworks and structural constraints that will put China’s agenda on a more sustainable footing. Countries with strong governance systems, the rule of law and vibrant civil societies have been able to obtain better conditions from Chinese counterparts.
Jakob Bund, a Junior Analyst at the EU Institute of Security Studies (EUISS) stated that concerted efforts with the African Union to reinforce local frameworks for environmental protection, labour laws and open public procurement schemes can benefit all investors. Given its endeavours to strengthen good governance and support for institution and capacity building on the continent, the EU could seek to further harness oversight mechanisms that ensure transparency and accountability.
Additionally, According to Michal Makocki, the EU could appropriate grants to support local governments’feasibility studies for Chinese investments to better gauge their impact in terms of economic potential but also to better address potential negative externalities. The result would be sustainable economic growth and stability, two of the key factors for addressing the root causes of migration.

Why do we lose an appetite for reading?

0

‘Bone appetite!’ is the common good wish for a friend which is also found at some fanciful restaurants in our mega cities. It is doubtful if libraries hang a notice plate inside their hall where a frustrated reader may gaze over ‘Bone reading!’ and rejuvenate his reading in good spirit. Hilariously, we know the necessity of eating but we don’t worry about how to order books. Satirically speaking, the dining table cost higher and demands more than the reading table as most homemakers take it as leisure to consume the latter.
For this reason, this piece will investigate the societal culture of appetizing a momentum of reading.
The books we read in our junior days were the first and lasting impression to reshape our gut and trajectory of reading in our lifetime. Sadly enough, against this backdrop, there is no such contemplative effort among the stakeholders to address the issue of how to bring kids the right book at such a critical epoch.
After the Ethiopian 2010 New Year, the Ethiopia government heralded 2010 the year of excellence. By then, to our relief, the Premier – Hailemariam Desalegn was scheduled  to read fables for kids. However, peoples are not few who found the expedition couldn’t as such meaningfully unearth reading culture. Many found the exercise was off – cuff whose sentiment didn’t take root of a lifetime appetizer.
Many of us have a nostalgic memory when our language subject teacher read for us books in classes. Provided that the fact that schools are agents of socialization, such old school exercise highly impacts one’s life for all. Some one who starts sporting may end up tovisit a gymnasium in his life time as opposed to one who did not. Similarly, a kid who attends a model reading has the higher likelihood to be a good reader, since the exercise re-orients the kid’s temperament.
How often schools pay a tribute for narrating books for their student population? How  often do  schools run mini-media and extra-curricular engagements so as to read the best pages of books? The answer is: Had we tried a bit, undoubtedly we would reap the fruit. Had we had none of the trial, we will collectively pay the price at the societal level of a lukewarm generation for reading.
Once a Scottish parent shared his touching experience, he said:  “I want my kids to associate reading with all the good things in life. I want the arrival of a new book in our home, or the prospect of some time to read, to excite and enthuse my kids. Creating a special place to read does just that by bringing some pizzazz and added wow factor to story time” .What’s is the standard for responsible parenthood?  Is that through fulfilling food and shelter of the kid as many third world parents get stuck to fulfill?
How often do Ethiopian parents commit to schedule themselves for their kid’s bed time stories. Debatably, a parent who relieved himself from reading bedtime stories for his kids, he has to be an irresponsible parent. The debt of not reading stories in their earlier age; will let us, perhaps at a societal level, to bear the cost of having an ‘irrational society’.
Prior to August 2017 HoHe award notification, finalists of Children literature (Asres Bekele and Talegeta Yimer) read selected chapters for kids at an orphanage. Reminiscing their final candidacy, Asres read ‘Yebeza Buchila’-(to mean ‘Beza’s puppy’) and ‘Wanategnawa Soliyana’–(to mean ‘the swimmer Soliyana’). Likewise,Talegeta read his own ‘ Ye ayitochena ye dimetochSerg’ – (to mean ‘Wedding ceremony of Cats and Rats). Also, this exercise of  reading  special pages was also broadcasted for millions of kids who follow from their homes. To the best of crediting the endeavor, one can imagine the moral foot print it left after those authors of children literature missed the compound right away finishing the assignment of reading. For kids it is an immense, to present them the book along with its own author.

For HoHE awards, it is not leisure exercise also to include the category of ‘literature for children’. Rather, it is a pragmatic necessity to promote the best appetizer for generational reading culture.

0

Name: Tinbite Solomon

Education: BSC in IT

Company name: Codec  IT Solution

Title: Co-founder

 Founded in: 2017

What it does: Software/Application Development, Website Development,  Network Design, among others

HQ: Jemo 1, JEMO building 2nd floor

Number of employees: 10

Startup Capital:     24,000  birr

Current capital:  Growing

Reasons for starting the business: To use the art of technology to develop new products that can simplify day to day challenge

Biggest strength: Committed

Biggest perks of Ownership: Helps me to be more creative

Plan: To be the market leader that provides high quality services

Biggest challenge: Finance

First career: IT specialist

Most interested in meeting: Michelle Obama

Most admired person: My Mother

 Stress reducer: Listening to music

 Favorite past-time: Reading

Favorite book: Kaleidoscope by Danielle Steel

Favorite destination:  Australia

Favorite automobile: Lamborghini