Page 16 - Msingi Afrika Magazine Issue 15

Economy

In fact, paying war vets should have That’s the colonial capital ex- asymmetric trade, skewed balance of
been Zimbabwe’s equivalent of a ploitation Mthuli is reinstituting by payment and high indebtedness, in a
mini–Marshall Plan, better yet, the removing indigenization; lowering world run by western AI block chain
GI Bill stimulus given to white US taxes for foreign-owned corporates payments systems, which will put
soldiers (at the exclusion of black that are looting our resources and our resources on the foreign side of
soldiers) in 1944, to compensate externalizing; not pushing technolo- the balance sheet in the blockchain.
them for fighting in WW2. But it gy transfer or local beneficiation and
wasn’t supported by Europeans allowing wholesale dividend repatri- This man we trust with our nation
(the same who still control strategic ations along with forex allocations couldn’t even successfully manage
industries in Zimbabwe today) who without import substitution. his own investment bank, Barbican,
pulled the rug from under us (a rug He is simply repeating 150 of years but we trust him with our national
created by our wealth and exploita- Berlin Conference economics in economy just because he was an
tion) to kill the black economy, be- Africa. employee in Swiss banks that even
cause we allowed them to dominate accepted Jewish wealth looted by the
our markets. Their divestment was Mthuli is recreating the same failed Nazis?
concomitantly followed by sanctions system of colonialism for whites to
and we are all living the aftermath. again cream excess value and leave It seems that we forget that all of
us Zimbabweans with the bill of Smith’s finance ministers and in-
Down in South Africa we have developing roads, bridges and ports vestors came directly from England
another case study where 93% of of entry for foreigners to loot our (the home of international banking)
that economy is controlled by whites resources more efficiently as our and they were educated in Oxbridge,
and 80% of it is in the hands of just cattle and pole taxes did for 90 years but they failed to prosper Zimba-
five companies Anglo, Old Mutual, of colonialism. bwe for 90 years, because European
Rupert Empire, Bidvest, Sanlam and economic theory was never designed
the government they control. This Why would we repeat a strategy that to develop Africa, but to loot and
means they are holding the black does not work for Africa? impoverish Africa. What’s even
economy and at ransom, in that more interesting is the same British
they can use their monopoly on the We Zimbabweans are expecting a economists have presided over the
economy, to sabotage it and then man who takes a sovereign debt of fall of the British Empire economy,
sway local government policy. $3.5 billion to pay foreigners for which tumbled from number 1 to
colonizing us and vandalizing our 5 or 7 (I can’t keep track) in the last
As a result, that country is in a crisis property, to advance us? century.
as the gold, iron, low sulphur ther- No matter what the IMF says, all
mal coal and easy-to-reach platinum decisions taken by Mthuli, while These Europeans can’t even manage
are depleted; so, mining compa- he focuses us on giving value to their own economies, because they
nies that depleted these resources paper money (warehouse receipts), were built on stealing, slavery, killing
like Anglo Gold, have moved to as he destroys the factor-of-pro- non-white competition, monopoliz-
Europe exchanges. The resources duction ownership structure of the ing African, Asian and South Ameri-
that remain are still tightly in the economy, is a recipe for failure. It’s can resources and labor and coloniz-
hands of white miners who exploit the Bernard Chidzero toolkit of ing; and not the economic theory we
them without returning much to disastrous Washington Consensus trust Mthuli to lift Zimbabwe with.
the nation. The black government and neo-liberal deindustrialization Wake Up Zimbabwe, history is clear
is broke; the country is indebted to economics that specializes in dimin- here. Economics is a theory and is
a point it can’t maintain parastatals ishing return activities and technolo- not the practice, it’s not what built
and infrastructure that were used to gy dead ends of resource extraction Europe. They built Europe by loot-
loot South Africa, without leaving and assembling foreign goods to ing, enslaving, colonizing, not paying
a sovereign wealth fund to develop sell in our market at the expense of Africans reparations but giving us
the country in future. And in all this local industry, which simply harvests debt and continuing to control our
the ANC can’t do a thing because our savings and excess value. resources that they stole over 567
white capital has a gun to their head, years (since the Doctrine of Discov-
threatening to collapse the economy This can only leave us with more ery in 1454).
if they stop the looting. deindustrialization, brain drain, low
savings, low capital accumulation,

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