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It is, in this regard, very important for one to note that the new industrial capitalist
nations of the G20 see themselves as the emerging reserve currency nations of
tomorrow and, therefore, like to look at the global economy from the centre-
periphery prism of the imperial and North Atlantic Euro-American economies. But
they are dead wrong in so doing because the on-going regime change in the type of
money that rules the globe of commerce and industry is decimating the very
unequal centre-periphery market pedestals of the current floating-rate SDR-based
gold exchange debt standard on which the industrial capitalist nations of the G20
nations stand today and prance about the world stage as the sub-imperial powers
and movers of the global economy. China, for example, wants the Yuan to be part of
the SDR basket of currencies but chooses to forget that the global regime of the
capitalist debt-money of might-is-right, which is at the foundation of the current SDR-
based gold exchange debt standard, is almost as dead as a Dodo! For as the first-
tier North Atlantic and Euro-American casino-capitalism collapses ,so will the
second-tier Euro-Asian industrial capitalism collapse with it.
In effect, the global economic contest of yesterday, today and tomorrow for market
hegemony has always been between the market hierarchy of the North-Atlantic and
Euro-American regime of the capitalist public sector debt-money of might-is-right,
on the one hand, and the market level-ground of the South Atlantic and African
regime of the communitarian private sector equity money of right-is-might, on the
other hand. And as matters stand today, the North Atlantic and Euro-American
forces of global market exclusion are demonstrably on the wane as the South
Atlantic and African forces of global market inclusion are steadily and inevitably on
the rise.
1.3.Accordingly, the key economic thesis which runs through this concept document
is as follows. Convertible public sector debt money of elitist sovereignty and
capitalism has over the past 500 years concentrated control of the market reins of
global commercial, financial, industrial and technological middleman-ship in the
hands of the peoples of the North Atlantic and Euro-American nations. And, the
main and consistent losers from this global structure of resource use and control
are the black peoples of the South Atlantic and Sub-Sahara African nations.
However, since what goes around comes around, we find that inflationary forces of
imperial seignior-age have caught up with the convertible public sector debt money
of global capitalism and that the economies of the North Atlantic and Euro-American
nations are falling apart without any possible relief in sight. So, this concept
document goes on to say that the world has no other economic policy alternative
than to use the convertible private sector equity money of popular sovereignty and
communitarian-ism to, unconditionally, lift up to, and maintain at, global standards of
best practice, the social, market,utility and physical infrastructures of the South
Atlantic and Sub-Sahara African nations and in so doing to re-energise the
construction industries of the Euro-American and North-Atlantic nations. For,
therein, lies the communitarian engine of the equity money of right-is-might for the
across-the-board rebirth of the comatose global economy of today.
In other words, the Euro-American global economy of capitalism must, in its own self-
interest, now lend all its brawn and brain towards bringing about and entrenching
the global regime of the gold standard which will inevitably promote and fund the
integral human development of every black person on both sides of the Atlantic.
For, the overall and balanced development of the global economy depends,
exclusively, on a standard economic justice package of food, social and job security
being done to every human being of gender, race/tribe and creed, and especially
so, to every member of the long-suffering black race, the weakest link in the global
chain of economic exchanges, who have, over the past 500 years, been at the
pulverizing mercy of the apartheid and Euro-American debt money of might-is-right.
In short, the global regime of the Euro-American debt money of black slavery is
done and gone and the global regime of the South Atlantic African equity money of
black economic emancipation and restoration across the South Atlantic is,
inevitably, up and about .
1.4 This equity money of South Atlantic black economic emancipation and
restoration differs from its debt counterpart of South Atlantic black economic
enslavement in one cardinal respect. It underpins and drives the market level-
ground and bottom-to-top principle and model of the common currency concept and
economic integration for any two or more nations, where its debt counterpart
underpins and drives the market hierarchy and top-to-bottom principle and model of
the common currency concept and economic integration for two or more nations.
Thus, where global capitalism has for centuries forbidden deep-seated intra-African
and South Atlantic African trade and payments links because it concentrates
control over the global currency and financial markets in the grip of the North
Atlantic and Euro-American nations and peoples, global communitarian-ism will
disperse control over the global currency and financial markets evenly among the
nations and peoples of the globe and will, therefore, promote deep-seated intra-
African and South Atlantic African trade and payments networks through its popular
sovereignty currency and financial market policies within and between the nations of
the globe. For, where control over the global currency and financial markets is
distributed evenly among the nations and peoples of the globe, we note that every
nation of the globe will make and receive external payments in its own convertible
currency and will, under the external balanced budget operational straitjacket of the
gold standard, therefore, always endeavour to make maximum use of its own
resources of men, materials and money for the satisfaction of its own social,
material and other needs. Consequently, what will link and bind together any two or
more nations in external trade and payments is the degree of complememntarity
between their respective industrial resource endowments and industrial resource
needs.
So, the principle and model of the common currency concept and economic
integration for any two or more nations which the equity money of right-is-might
promotes says that every nation of the globe should make as much use of its own
endowment of industrial resources for the satisfaction of its own social, material and
other needs and, thus, that nations should endeavour to seek the supply for their
industrial resource shortfalls and needs from contiguous nations in order to
minimize the transportation costs of industrial production. And, this is, precisely, the
principle and model of economic integration and of the common currency concept
that has eluded the East African nations since 1967, the ECOWAS nations since
1975 and, of course, the South Atlantic African nations since time immemorial.
This principle of industrial complementarity says, in effect, that economic integration
has everything to do with weaving the industrial structures of nations together in
least-cost supply and demand schedules for goods and services but nothing
whatever to do with subordinating the currency and financial markets of any nation
to same of another nation. And when economic integration has only to do with
weaving the industrial structures of especially contiguous nations, complementarily ,
together, then the common currency concept for two or more nations has to do in
practice with a neutral and real, or fictively ,gold convertible international unit of
account and contract ,i.e. a numeraire. But, when economic integration
subordinates the currency and financial markets of the non-convertible currency
nations of the rest of the world to the currency and financial markets of the financial
convertible or self-convertible currency nations of North Atlantic Europe and
America, then the common currency concept for two or more nations is either an
imperial Euro or SDR or a colonial CFA Franc.
In effect, the principle of industrial complementarity ,or the South Atlantic Formula, is
that principle and model of economic integration and the common currency concept
which promotes integral human development on every inch of this earth by giving
every human being ,anywhere on this earth, his culture-specific and rightful due of
globally standardized packages of existential, vocational and other attention from
the cradle to the grave . It is, therefore, the principle and model of economic
integration and the common currency concept that will undergird and sustain the
emerging South Atlantic African economy, and the global economy, of right is might.
And because the South Atlantic Formula will include every child, adult, and aged
black person equally in the control of how the currency, financial and industrial
markets of the South Atlantic African nations work for the common good, it follows
that new level-ground market institutions will emerge for this purpose.
For instance, and as detailed somewhat in Section 3 below on the practical
economic policy properties of the South Atlantic Formula, the popular sovereignty
and private sector-owned-and-led central bank, Bank of National Settlements, BNS,
of any South Atlantic African nation will produce and distribute the level-ground and
inclusionary personal financing package in its currency market, the level-ground,
inclusionary and entrepreneur-incubating equity financing package in its financial
market plus the level-ground and local-resource using commodity financing
package in its industrial market. And, next, the South Atlantic Formula goes on to
weld the South Atlantic African nations in transatlantic market, transport and digital
networks for work, capital and commodity transactions through the global market
development and management activities of Bank for African Settlements, BAS, the
popular sovereignty and common currency central bank of all the South Atlantic
African nations.
1.5 The South Atlantic Formula, SAF, says that on both sides of the Atlantic, each
South Atlantic African nation should be encouraged, through appropriate popular
sovereignty market policies of its popular sovereignty central bank, or BNS, to
intensify the local production of those commodities which it has natural endowments
for in order to satisfy its peoples’ needs and the needs of the rest of the world. And,
SAF goes on to say that the Bank for African Settlements, BAS, is the popular
sovereignty and Pan-African common currency central bank which will use the as-if
gold convertible South Atlantic African common currency, the gold Mandela, to
facilitate the convertibility and use of every national South Atlantic African currency
to make and receive external payments and thereby deepen and intensify intra-
African and South Atlantic African trade, payments and investments flows. In other
words, it is within the operational market bowels of BAS that SAF’s principle of
industrial complementarity comes alive in practical terms because it is within the
market bowels of BAS that the Pan-African common currency, the gold Mandela, is
created, managed and endowed with fictive gold convertibility.
But, BAS must be located somewhere in a strategic South Atlantic African nation.
And, this concept document submits that Nigeria, for reasons that follow immediately
in Section 2 below, is the popularly acclaimed anchor nation of South Atlantic Africa
where BAS should have its headquarters. As transpires from Section 3 below,
Adioné Institute for Justice & Peace ,AIJP,has the divine mandate and responsibility
to sponsor the establishment of BAS in Nigeria in order to promote and fund the
integral human development, in the first instance, of the South Atlantic African
economy that is inward-looking in its uses of its enormous transatlantic resource
endowments for the overall satisfaction of the social, material ,entrepreneurial and
infrastructural needs of its teeming and gifted panoply of rainbow peoples .
More...
nations of the G20 see themselves as the emerging reserve currency nations of
tomorrow and, therefore, like to look at the global economy from the centre-
periphery prism of the imperial and North Atlantic Euro-American economies. But
they are dead wrong in so doing because the on-going regime change in the type of
money that rules the globe of commerce and industry is decimating the very
unequal centre-periphery market pedestals of the current floating-rate SDR-based
gold exchange debt standard on which the industrial capitalist nations of the G20
nations stand today and prance about the world stage as the sub-imperial powers
and movers of the global economy. China, for example, wants the Yuan to be part of
the SDR basket of currencies but chooses to forget that the global regime of the
capitalist debt-money of might-is-right, which is at the foundation of the current SDR-
based gold exchange debt standard, is almost as dead as a Dodo! For as the first-
tier North Atlantic and Euro-American casino-capitalism collapses ,so will the
second-tier Euro-Asian industrial capitalism collapse with it.
In effect, the global economic contest of yesterday, today and tomorrow for market
hegemony has always been between the market hierarchy of the North-Atlantic and
Euro-American regime of the capitalist public sector debt-money of might-is-right,
on the one hand, and the market level-ground of the South Atlantic and African
regime of the communitarian private sector equity money of right-is-might, on the
other hand. And as matters stand today, the North Atlantic and Euro-American
forces of global market exclusion are demonstrably on the wane as the South
Atlantic and African forces of global market inclusion are steadily and inevitably on
the rise.
1.3.Accordingly, the key economic thesis which runs through this concept document
is as follows. Convertible public sector debt money of elitist sovereignty and
capitalism has over the past 500 years concentrated control of the market reins of
global commercial, financial, industrial and technological middleman-ship in the
hands of the peoples of the North Atlantic and Euro-American nations. And, the
main and consistent losers from this global structure of resource use and control
are the black peoples of the South Atlantic and Sub-Sahara African nations.
However, since what goes around comes around, we find that inflationary forces of
imperial seignior-age have caught up with the convertible public sector debt money
of global capitalism and that the economies of the North Atlantic and Euro-American
nations are falling apart without any possible relief in sight. So, this concept
document goes on to say that the world has no other economic policy alternative
than to use the convertible private sector equity money of popular sovereignty and
communitarian-ism to, unconditionally, lift up to, and maintain at, global standards of
best practice, the social, market,utility and physical infrastructures of the South
Atlantic and Sub-Sahara African nations and in so doing to re-energise the
construction industries of the Euro-American and North-Atlantic nations. For,
therein, lies the communitarian engine of the equity money of right-is-might for the
across-the-board rebirth of the comatose global economy of today.
In other words, the Euro-American global economy of capitalism must, in its own self-
interest, now lend all its brawn and brain towards bringing about and entrenching
the global regime of the gold standard which will inevitably promote and fund the
integral human development of every black person on both sides of the Atlantic.
For, the overall and balanced development of the global economy depends,
exclusively, on a standard economic justice package of food, social and job security
being done to every human being of gender, race/tribe and creed, and especially
so, to every member of the long-suffering black race, the weakest link in the global
chain of economic exchanges, who have, over the past 500 years, been at the
pulverizing mercy of the apartheid and Euro-American debt money of might-is-right.
In short, the global regime of the Euro-American debt money of black slavery is
done and gone and the global regime of the South Atlantic African equity money of
black economic emancipation and restoration across the South Atlantic is,
inevitably, up and about .
1.4 This equity money of South Atlantic black economic emancipation and
restoration differs from its debt counterpart of South Atlantic black economic
enslavement in one cardinal respect. It underpins and drives the market level-
ground and bottom-to-top principle and model of the common currency concept and
economic integration for any two or more nations, where its debt counterpart
underpins and drives the market hierarchy and top-to-bottom principle and model of
the common currency concept and economic integration for two or more nations.
Thus, where global capitalism has for centuries forbidden deep-seated intra-African
and South Atlantic African trade and payments links because it concentrates
control over the global currency and financial markets in the grip of the North
Atlantic and Euro-American nations and peoples, global communitarian-ism will
disperse control over the global currency and financial markets evenly among the
nations and peoples of the globe and will, therefore, promote deep-seated intra-
African and South Atlantic African trade and payments networks through its popular
sovereignty currency and financial market policies within and between the nations of
the globe. For, where control over the global currency and financial markets is
distributed evenly among the nations and peoples of the globe, we note that every
nation of the globe will make and receive external payments in its own convertible
currency and will, under the external balanced budget operational straitjacket of the
gold standard, therefore, always endeavour to make maximum use of its own
resources of men, materials and money for the satisfaction of its own social,
material and other needs. Consequently, what will link and bind together any two or
more nations in external trade and payments is the degree of complememntarity
between their respective industrial resource endowments and industrial resource
needs.
So, the principle and model of the common currency concept and economic
integration for any two or more nations which the equity money of right-is-might
promotes says that every nation of the globe should make as much use of its own
endowment of industrial resources for the satisfaction of its own social, material and
other needs and, thus, that nations should endeavour to seek the supply for their
industrial resource shortfalls and needs from contiguous nations in order to
minimize the transportation costs of industrial production. And, this is, precisely, the
principle and model of economic integration and of the common currency concept
that has eluded the East African nations since 1967, the ECOWAS nations since
1975 and, of course, the South Atlantic African nations since time immemorial.
This principle of industrial complementarity says, in effect, that economic integration
has everything to do with weaving the industrial structures of nations together in
least-cost supply and demand schedules for goods and services but nothing
whatever to do with subordinating the currency and financial markets of any nation
to same of another nation. And when economic integration has only to do with
weaving the industrial structures of especially contiguous nations, complementarily ,
together, then the common currency concept for two or more nations has to do in
practice with a neutral and real, or fictively ,gold convertible international unit of
account and contract ,i.e. a numeraire. But, when economic integration
subordinates the currency and financial markets of the non-convertible currency
nations of the rest of the world to the currency and financial markets of the financial
convertible or self-convertible currency nations of North Atlantic Europe and
America, then the common currency concept for two or more nations is either an
imperial Euro or SDR or a colonial CFA Franc.
In effect, the principle of industrial complementarity ,or the South Atlantic Formula, is
that principle and model of economic integration and the common currency concept
which promotes integral human development on every inch of this earth by giving
every human being ,anywhere on this earth, his culture-specific and rightful due of
globally standardized packages of existential, vocational and other attention from
the cradle to the grave . It is, therefore, the principle and model of economic
integration and the common currency concept that will undergird and sustain the
emerging South Atlantic African economy, and the global economy, of right is might.
And because the South Atlantic Formula will include every child, adult, and aged
black person equally in the control of how the currency, financial and industrial
markets of the South Atlantic African nations work for the common good, it follows
that new level-ground market institutions will emerge for this purpose.
For instance, and as detailed somewhat in Section 3 below on the practical
economic policy properties of the South Atlantic Formula, the popular sovereignty
and private sector-owned-and-led central bank, Bank of National Settlements, BNS,
of any South Atlantic African nation will produce and distribute the level-ground and
inclusionary personal financing package in its currency market, the level-ground,
inclusionary and entrepreneur-incubating equity financing package in its financial
market plus the level-ground and local-resource using commodity financing
package in its industrial market. And, next, the South Atlantic Formula goes on to
weld the South Atlantic African nations in transatlantic market, transport and digital
networks for work, capital and commodity transactions through the global market
development and management activities of Bank for African Settlements, BAS, the
popular sovereignty and common currency central bank of all the South Atlantic
African nations.
1.5 The South Atlantic Formula, SAF, says that on both sides of the Atlantic, each
South Atlantic African nation should be encouraged, through appropriate popular
sovereignty market policies of its popular sovereignty central bank, or BNS, to
intensify the local production of those commodities which it has natural endowments
for in order to satisfy its peoples’ needs and the needs of the rest of the world. And,
SAF goes on to say that the Bank for African Settlements, BAS, is the popular
sovereignty and Pan-African common currency central bank which will use the as-if
gold convertible South Atlantic African common currency, the gold Mandela, to
facilitate the convertibility and use of every national South Atlantic African currency
to make and receive external payments and thereby deepen and intensify intra-
African and South Atlantic African trade, payments and investments flows. In other
words, it is within the operational market bowels of BAS that SAF’s principle of
industrial complementarity comes alive in practical terms because it is within the
market bowels of BAS that the Pan-African common currency, the gold Mandela, is
created, managed and endowed with fictive gold convertibility.
But, BAS must be located somewhere in a strategic South Atlantic African nation.
And, this concept document submits that Nigeria, for reasons that follow immediately
in Section 2 below, is the popularly acclaimed anchor nation of South Atlantic Africa
where BAS should have its headquarters. As transpires from Section 3 below,
Adioné Institute for Justice & Peace ,AIJP,has the divine mandate and responsibility
to sponsor the establishment of BAS in Nigeria in order to promote and fund the
integral human development, in the first instance, of the South Atlantic African
economy that is inward-looking in its uses of its enormous transatlantic resource
endowments for the overall satisfaction of the social, material ,entrepreneurial and
infrastructural needs of its teeming and gifted panoply of rainbow peoples .
More...