The Global South Has Had Enough of Its Former Colonial Masters

The President of Congo verbally chastises Macron in their press conference. [The Rude Awakening] March 07, 2023 [WEBSITE]( | [UNSUBSCRIBE]( The Global South Has Had Enough of Its Former Colonial Masters - The rift between the Global South and its former colonial masters is widening. - The Global South feels emboldened now that the unipolar world is ending. - Russia and China race to fill the void in Africa, Asia, and Latin America. [External Advertisement] [FDA APPROVAL COULD SEND STOCK UP 113,548%]( [Click here to learn more]( Whenever the FDA approves a new drug... Timely investors could see 300-400% returns overnight... CCXI returned 281% to investors in one day... Relmada shot up 971% in 9 months... Agile soared 305% in 5 months... [Here's the next stock we think wins approval ]( [Click Here To Learn More]( [Sean Ring] SEAN RING Happy Tuesday on this bright, chilly morning in Northern Italy. Yesterday was a doozy-whopper for French President Emmanuel Macron. He went down to the Congo and got tongue-lashed for this trouble. In case you didn’t know, the French never really let go of its African colonies. In fact, there were rumors this policy was no accident. Since Germany was dominating the European Union, the only way for France to expand was by going south. For years, France has kept West and Central Africa’s gold safely in the confines of the Banque de France. Those countries also spoke French. It was also convenient for the French to send the poorer-performing students of its famous “ecoles” to Africa. It’s like bankers who aren’t particularly good in their home countries and so are sent abroad. The most famous is the FILTH - Failed In London, Try Hongkong. That world is ending for France. I pick on France because its colonialism is the most hidden form… and is about to be revealed to the world. I’ll give you a head start with this column. Colonialism in General You must know I’m no bleeding-heart liberal who automatically loathes empire. And though I think “empire” rhymes with “vampire” for a reason, I love reading about the British Empire. I’m a huge fan of Victorian literature and Kipling. Sure, there was a “Scramble for Africa.” And some of it was plain horrific. For instance, there’s no excuse for what Leopold II did in the Congo. And though he wasn’t a racist per se, Englishman Cecil Rhodes said in 1877 while a student at Oxford, "I contend that we are the first race in the world and that the more of the world we inhabit, the better it is for the human race. I contend that every acre added to our territory means the birth of more of the English race who otherwise would not be brought into existence." But while the Rhodes and the British worked on the Cape to Cairo telegraph line, the French went west to east. France’s African Model Here’s a list of France’s former west African colonies: - Timbuktu in French Sudan - Ivory Coast - Dahomey (currently Benin) - French Sudan (currently Mali) - Guinea - Mauritania - Niger - Senegal - Upper Volta (currently Burkina Faso) - French Togoland (currently Togo) - Enclaves of Forcados and Badjibo (in modern Nigeria) Instead of old-fashioned colonialism, the French use currency to control their former and newer “member states.” The CFA franc is the common name for two currencies used in several countries in West and Central Africa: the West African CFA franc and the Central African CFA franc. The Central Bank of West African States (BCEAO) manages the West African CFA franc, and the Bank of Central African States (BEAC) operates the Central African CFA franc. The two banks are responsible for issuing the currency, maintaining its stability, and regulating its supply. The CFA Franc is used by Benin, Burkina Faso, Guinea-Bissau, Côte d’Ivoire (Ivory Coast), and Mali. Niger, Senegal, and Togo in West Africa, and Cameroon, Central African Republic, Chad, Congo-Brazzaville, Equatorial Guinea, and Gabon in Central Africa. The franc has been controversial, with some critics arguing that it has contributed to the economic dependence of African countries on their former colonial powers, France most especially. Others say that the currency's stability has positively promoted trade and investment in the region. Both francs are pegged to the euro. France also requires CFA member countries to deposit at least 50% of their foreign exchange reserves — currently about €10 billion ($11.19 billion) — into a special account in the French treasury. And therein lies the problems. First, why must these countries deposit half their FX reserves with France? What possible economic sense does this make? Second, with the francs pegged to the euro, prices are artificially higher than they otherwise would be. And obviously, these currencies aren’t freely floating, which means they can’t devalue in times of high stress. Also, in “normal” times, the euro’s interest rates would be higher, adding to Africa's already prohibitive cost of capital. The Italian Prime Minister, Giorgia Meloni, criticized Macron and France for exploiting Africa. [Watch the video here](. It’s fabulous. [SJN] Credit: [DW]( [[Urgent] Analyst Issues Rare “All-In” Buy Alert For $3 Stock]( [Click here to learn more]( [This m]( be the biggest miracle of modern medicine that you or I will ever witness…]( Breakthrough new research shows that one $3 company is on the verge of fixing one of the biggest health problems in America today. And no, I’m not talking about cancer, heart disease, Alzheimer’s or anything else you’d expect… The disease I’m talking about affects a staggering 58 million American adults, or about 1 in 4 adults in this country. [>> Click Here Right Away For Details On This Urgent Buy Alert]( [Click Here To Learn More]( Russia and China See an Opening With West and Central Africans planning to do away with the CFA franc and other parts of the continent demanding autonomy, Russia and China see an opening. [South Africa joined Russia]( in naval drills last week. And while the US claimed victory at the UN vote to condemn Russia vis-a-vis Ukraine, a closer look at the vote shows the Global South mostly abstained. (Brazil, a member of the BRICs, was a surprise. But it looks like Lula is taking a different path than before.) [SJN] Credit: [UN News Centre]( While in India, [Sergei Lavrov alleged the USG threatened the developing world]( if they didn’t vote the USG’s way. It’s not so much that Russia and China are great; they’re not seen as threatening as the West. My, how times have changed! The Tongue-Lashing All this leads to Le Petit Roi getting schooled at a press conference with the President of the Democratic Republic of Congo. It was a remarkable sight. [Watch it here](. President Félix Tshisekedi didn’t allow Macron to escape his hole gracefully. Macron had tried to say that when a French journalist is rude, it’s not the position of France. Then, Tshisekedi said, “It wasn’t a journalist. It was your foreign minister!” He said he wanted France to look at his country as equal partners and not paternalistically. It was a master class in firm diplomacy. But I’m sure Macron feels embarrassed. Wrap Up The Global South is looking for new partnerships because the old ones only enrich a few of the elite. Russia and China were primed to step in simply because they weren’t Africa’s colonial oppressors—new faces and ideas to replace the ideas that haven’t worked. It’s the new bifurcation of world trade and may be the beginning of a new paradigm. Until tomorrow. All the best, [Sean Ring] Sean Ring Editor, Rude Awakening In Case You Missed It… The EU Still Pays Russia for Fossil Fuels [Sean Ring] SEAN RING Good morning on this bright, lovely Monday from Piedmont. I hope you had a restful weekend. I slept so much that my cough finally stopped. This morning I was drinking a Lavazza Tierra Reserva cappuccino at my favorite cafe and wondering what to write. Then I found an article on our favorite Doom Porn website, Zero Hedge. Titled “[Which Countries Are Buying Russian Fossil Fuels?]( it shows a chart Niccolo Conte over at Visual Capitalist created based on information provided by the Centre for Research on Energy and Clean Air (CREA). To say it made me laugh is an understatement. Believe me, I’m happy the EU isn’t starving itself of energy, thanks to any misguided USG diktat. And yet, the Germans (especially) are doing a shocking amount of neocon bidding. Let’s look at the graphic and see what we can glean from it. The Graphic Here’s what the fuss is about: [SJN] Credit: [Visual Capitalist]( Honestly, this may look worse than it is. But here’s how I’d summarize it. China, Russia’s de facto ally, has paid the Russians over $66 billion for its fossil fuels. Turkey, a member of NATO but not the EU, has paid Russia about $25 billion. And India runs closely behind the Turks, at $24 billion. But those warmongering Germans! They’ve paid the Russians over $26 billion themselves, evenly split between crude oil and natural gas. Before you call Ze Germans “hypocrites,” let me offer an argument in their defense: priorities. German Priorities If you believe in The State, and my goodness, the Germans do, then the state's first duty is to protect its citizens. Deindustrialization is no way to protect your citizenry. So, I imagine the German government is trying to please its colonial master, the USG, without destroying its own country’s infrastructure and industry. Not only that, but Germany also must stealthily protect itself because the idiotic German Greens want to send Germany back to agrarian times. What’s the answer for Germany? It seems to be “shout at Russia over the Ukraine war while quietly importing Russian fossil fuels.” But why import oil, natural gas, and coal from Russia if Germany is so green? Let’s take each in turn. [Will This Company’s Breakthrough Give New Hope To Millions?]( [Click here to learn more]( If You Or Somebody You Know Suffers From Arthritis, Pay Close Attention [>> Click Here For All Of The Urgent Details <<]( [Click Here To Learn More]( Oil: The Most Important Fuel on Earth Oil is the most important fossil fuel for several reasons: - Abundance: Oil is one of the most abundant fossil fuels on the planet. It’s estimated that there are trillions of barrels of oil reserves around the world. - Versatility: Oil can be used in various applications, from transportation fuels to lubricants, plastics, and chemicals. - Energy density: Oil contains a large amount of energy per unit of volume. This makes it an efficient fuel source for transportation and power generation. - Infrastructure: The infrastructure for extracting, refining, and transporting oil has been developed over many decades, making it easier and more cost-effective than other fossil fuels. - Economic importance: Oil is a major driver of the global economy, with many countries relying heavily on oil exports to generate revenue and create jobs. Everything you are wearing, sitting on, typing on, eating, or watching was either made with or transported to you by oil. It’s that simple. We can’t live without it. Just have a look at how an oil barrel is “cracked” or what it’s split into: - Gasoline: About 45% of a barrel of crude oil; powers cars. - Diesel fuel: About 25%; used in transportation and industrial applications. - Jet fuel: About 8%; powers aircraft. - Heating oil: About 4%; heats homes and buildings. - Liquefied petroleum gas (LPG): About 4%; used for cooking, heating, and transportation. - Asphalt: About 3%; used in constructing roads and other infrastructure. - Petrochemicals: About 7%; used in producing plastics, synthetic materials, and other products. The remaining 4% of the barrel makes other products, including lubricating oils, waxes, and other specialty products. Let’s look at coal, which is much dirtier. Coal: The Other Cheap Fuel Coal is still used as a fuel source because of its abundance, low cost, and reliability in electricity generation. To elaborate: - Abundance: Coal is incredibly abundant, and there are large reserves in many parts of the world. - Low cost: It’s an attractive option for electricity generation, particularly in countries with limited financial resources. - Reliability: Coal-fired power plants provide baseload power. Baseload power is the minimum amount of electricity consistently required to meet the energy demands of a given area or region at any given time. This is important for maintaining a stable power supply. - Infrastructure: Many countries have invested heavily in coal-fired power plants and related infrastructure, such as transportation and storage facilities, making it more difficult to transition away from coal. Coal burning is a dirty business. There have been quite a few technologies invented to clean it up, such as flue gas desulfurization (FGD), low-nitrogen oxide burners, coal gasification, carbon capture and storage (CCS), and integrated gasification combined cycle (IGCC). Different clean-up technologies fit different situations. That is, some technologies work in some cases and don’t work in others. Finally, let’s look at natural gas, a clean-burning fossil fuel. Natural Gas: A Cleaner Fossil Fuel Natural gas is considered a cleaner form of energy because it produces fewer emissions when burned. Here are some reasons why natural gas is regarded as clean energy: - Lower carbon emissions: Natural gas emits about half as much carbon dioxide (CO2) as coal and about 30% less CO2 than oil when burned. - Reduced air pollution: Natural gas combustion emits fewer pollutants such as sulfur dioxide (SO2), nitrogen oxides (NOx), and particulate matter than coal and oil. These pollutants contribute to air pollution and can have negative health impacts. - No ash or sludge: Natural gas combustion doesn’t produce ash or sludge, which are byproducts of coal combustion that can cause pollution and environmental damage. - Versatility: Natural gas can be used in various applications, from electricity generation to heating and cooking. It can also be used as a transportation fuel, particularly in compressed natural gas (CNG) or liquefied natural gas (LNG). And still, Greens moan about natural gas while politicians call it a “transitional power fuel.” Why Not Renewables? Renewable energy sources like wind and solar power are less predictable and unreliable baseload power sources due to their variable output. Theoretically, renewable energy sources can be combined with energy storage systems, such as batteries, to provide baseload power and reduce dependence on traditional baseload power sources. But this hasn’t proven economically feasible yet. Wrap Up Over the past year, Russian fossil fuel revenues from the EU fell by 85%, and the oil price dropped by 50%. Daily Russian fossil fuel revenues have fallen from $1.2 billion to $567 million, or about 52%. But Russia is not out of partners. Russia is surviving, with China, India, and Turkey picking up the slack. Despite the bans, sanctions, and price caps, the EU is still Russia’s second-largest trading partner. But it remains to be seen if the Germans and the rest of the EU can stay away from Russian goods without destroying their own economies. See you tomorrow! All the best, [Sean Ring] Sean Ring Editor, Rude Awakening [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. 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