We welcome the debate over the pending Obama visit to Africa. The DA offers him the Freedom of Cape Town while the ANC offers him the Freedom of the country (by inviting him). We reject both.
Obama is a representative of the US banks, the 1%, who are responsible for the plunder of most of the world. Recently the ĎAfrica Progress Panelí, chaired by ex-President Mbeki,† reported that twice as much leaves Africa through illegal deals like mispricing and tax avoidance than it receives through ĎAidí. Thus ĎAidí is an artificial construct by imperialist banks to keep Africa in debt and totally dependent.
Consider the nature of ĎAidí. Take the example of ĎAidí from the US for Aids drugs. These are sold to Africa through loans. Thus the funds do not even leave the USA but once delivery is taken of the drugs the loan has to be repaid. Generally the rate of interest we pay in Africa is substantially higher than in the USA or Europe. ĎAidí secures a market for the US drug company, which means a competitor cannot easily enter, while at the same time Africa lands up paying double what we should have been able to pay for ourselves in cash, or even have developed ourselves.
Let us now consider the scale of the theft by US mining companies and banks such as Anglo American and JP Morgan Chase. (JP Morgan Chase is one of the main shareholders of Anglo American). Ashman, Fine and Newmanís work in 2011 (Amnesty International? The Nature, Scale and Impact of Capital Flight from South Africa) in the Journal of Southern African Studies, outlines how the mining companies have been responsible for illegal capital flight for more than the past 40 years. Ironically, in 2007, during the Presidency of Mbeki, this theft reached its zenith. Twenty per cent (20%) of South Africaís GDP was stolen by the mining companies, a figure in excess of R600bn.
This is one of the ways that the mining companies would smuggle out value from SA: They would, for example, label Platinum ($1400 per ounce) as Palladium ($400 per ounce) and thus smuggle out $1000 per ounce.
Here is one of the reasons why our youth have no future, why millions are suffering and deliberately kept in starvation and in shacks and overcrowded ghettoes. How many hundreds of thousands have died from preventable diseases of poverty? Yet the DA and ANC fall over their feet to welcome the chief representative of the 1% responsible for the continued enslavement of Africa.
JP Morgan Chase is also one of the main shareholders of the SA Reserve Bank. According to Mcgregorís Who Owns Whom, the major player on most of the gold mines is the Bank of New York.
The ones who were supposed to police illegal capital flight, such as the ex-Governor of the Reserve Bank, Tito Mboweni, is now Chair of AngloGold Ashanti; †the ex- Deputy Chief Director of the Department of Minerals and Energy, Harold Motaung,† is now CEO of Atlatsa which is in partnership with Anglo American in the running and control of Bokoni Platinum. SARS turns a blind eye to Anglo American and all the mines who have been involved in illegal capital flight (stealing). They have repeatedly offered amnesty, but the mines have refused to declare their misdemeanours. Yet SARS does not act against those mining companies who are snuffing out the future of our children. SARS acts against the ordinary person who owes a R10- we are treated as criminals but the big time crooks get away with murder.
We should be organizing the biggest demonstrations the country has ever seen against the Obama visit. This executioner is not welcome.