Brazil's Turn to Bolster African Meme
Brazil Forgives Most of Africa's $900 Million Debt … The Brazilian government is forgiving or restructuring Africa's almost $900 million debt in an effort to strengthen economic ties between Brazil and the African continent. Twelve countries will benefit from the decision, including Tanzania, Zambia and Congo-Brazzaville. – Clutch Magazine
Dominant Social Theme: Africa … the new hotness.
Free-Market Analysis: We've written a lot of articles on the African meme now. But it is one gift that keeps on giving. So many articles from the usual suspects – especially The Economist and Reuters – provide us with insights about this expanding dominant social theme.
We've tried to explain it on a macro level because when the top men controlling central bank policy do something, it often involves truly incomprehensible amounts of cash. If "they" are getting ready to position Africa in a certain way, there may be a tremendous African boom.
In the past there have apparently been deals put in place at the highest levels between officials with the Japanese, Chinese and the West. The Reagan administration set these deals in motion in the mid-1980s. The idea was that the Western model of central bank stimulation should be used to generate money-from-nothing that would purchase US debt. Then, flush with cash, US consumers would buy Japanese products.
The same paradigm was applied in China, causing the great Chinese Miracle (or so the mainstream media explained, anyway) and now the idea is to haul Africa into modernity, or at least certain countries such as Kenya, Nigeria, South Africa and The Ivory Coast.
To this end, in our view, there will be a great wave of mainstream media promotions for Africa and, in fact, we've noticed they have already started, as we've reported. Just search for "Africa" and "Daily Bell."
Within this context, Brazil's gesture is not surprising. One has to think of these promotions within a "top-down" context and accept that certain trans-national trends are organized at levels higher than even federal governments reach. This is difficult for most people to accept, even though Money Power is organized around multinational corporations and central banking policy has been internationalized for decades.
Here's more from the article:
Trade between Africa and Brazil has increased in recent years, leading to an extensive partnership between governments. Brazil's President Dilma Rousseff announced the decision during her third visit in three months to Africa.
"To maintain a special relationship with Africa is strategic for Brazil's foreign policy," Rousseff explained in a press statement … Debts not forgiven will be negotiated to include lower interest rates and longer reimbursement windows.
Congo-Brazzaville, Tanzania and Zambia owe Brazil the most. More than $700 million of the continent's collective balance to Brazil is split between these three countries. However, other countries including the Ivory Coast, Senegal and Sudan will also benefit from this agreement.
Rousseff has also signed several major agreements with African leaders to promote economic growth and cooperation. These partnerships stem from a sudden interest in Africa's potential as an economic powerhouse.
Several countries – including China, India and Russia – are Africa's biggest group of investors and newest trading partners. The Africa trade between all of these nations is expected to eclipse $500 billion by 2015.
Observe, please, in this excerpt many of the signatures of globalism, including the mention of China, India and Russia. The BRICS are essential to the brave new world that is apparently being constructed (see lead article, this issue).
None of this is necessarily coincidental, in our view, and provides us once again a view of a world where important transnational currents swirl at the highest levels of international and mercantilist finance and are rarely reported on.
The world's continued globalization proceeds apace, mostly undocumented (except at such alternative sites as The Daily Bell). But they exist nonetheless and investors ignore them at their peril.
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