Why Ibrahim Traoré is popular?

Within a space of one week, Captain Ibrahim Traoré of Burkina Faso led a successful coup d’état on September 30 2022 and became the President of the country on October 6, 2022. Since then he is wallowing in glory as the most popular and admired leader throughout Africa. Howzat!

Originally Traoré was a member of team of reformers who in January 2022 deposed then President Rock Kabore and installed Lieutenant Colonel Paul Henri Damiba as interim President. As the latter could not deliver Traoré led his team for another coup d’état. Subsequently the 34 years old Traoré became the president of Burkina Faso. Since assuming office Traoré has shown remarkable success in uniting the country and in that process becoming one of the most popular leader in Africa. Here are seven reasons for his success.

1. Charismatic, courageous, and disciplined officer he is, he demonstrated no-nonsense approach to tasks & actions. His successful career as a fighter against Jihadists in Northern region and his excellent performance as member of UN’s peace keeping mission in neighbouring Mali speaks volume for his tenacity and dedication.

2. He is almost a look alike of the greatest son of Burkina Faso, Thomas Sankara whose tenure as President during the tumultuous years of 1983-87 is scripted in every part of the development of Burkina Faso. People revere him still after his horrendous murder at the hands of conspirators. Not only in terms of physical features and demeanour Traoré exhibits similar to the ones Thomas Sankara famous for, the idea of broad appeal to masses and dedication to unite Africa as a whole brings him plaudits from a cross section of people living in West Africa

3. Traoré symbolizing unity, integration with people and formalizing renewal of Africa as theme called for a Federation of Sahel Countries. This has received approval and accolade in Mali, Ghana and now in Niger. All these four countries can unite easily to confront neo colonialism of the West especially France that exploits mineral and agricultural wealth of these four countries. Traoré did not hesitate in his mission and even expelled the French troops on January 2023

4.   He likes win-win situation a fact that endears him to the Chinese way of doing business. Another plus is that geoeconomics is warped around his fingers. Suggesting joint ventures with willing industrialists globally he is forming JVs for extracting, purifying and exporting these to the highest bidders. Moreover he wants that this type of partnership be extended to farming & agriculture. Once he commented wryly that “Burkina Faso exports tomato to France an import tomato paste from France”. Food sufficiency and food security are main planks for Traoré who is well supported by vast landscape of the country suitable for agro production. He seeks demining assistance from specialists as terrorists have laid mines and IEDs throughout land prohibiting movement of people

5. Traoré is after gender equality by corralling women folks into economic activity and at the same time empowering them with education, skills that would help them to deliver productivity. Secondly he feels that youth be recognised as the valuable resource of the country and their employment in private & public sectors act as bulwark in forestalling youth insurgency. His bold move of appointing youth leaders from regions as project managers in the centre is corollary to this.

6. Traoré encourages businessmen to take risk and develop entrepreneurial qualities as “nothing ventured is noting gained” is the mantra for progress

7. Finally, Traoré is a brilliant speaker like Thomas Sankara. He understands the dictates of geoeconomics. His speech in the recently concluded Africa-Russia forum endeared him not only to the African delegates present but to Russian President Putin who honoured him with a special one to one meeting. Traoré Declared: “Once Russia was with us. After the fall of Soviet Union it fizzled out. Now we need you inasmuch as you need us”

 

Cheers!

 

Muthu Ashraff

Business Strategist

Mobile: + 94 777 265677

E-mail: cosmicgems@gmail.com

Blog:   Business Strategist

 

 

Back to gold narrative gets traction in America

Until President Nixon removed gold from the convertibility window in August 1971 most world currencies were pegged to reserve currencies such as Dollar sterling etc. that were backed by gold. This allowed America to print US Dollar notes without restrictions and making it just a fiat currency!

Due to various geoeconomics development across the globe and the fact that America has emerged as lead nation in economic power projection, countries started to peg their national currencies to US Dollar. Forex market began to quote exchange rates of several currencies using Dollar as the bench mark. The Dollar honeymoon lasted for a long time say precisely four decades till 2011.

On March 2011 the State of Utah approved US-minted gold coin as legal tender. Sooner other States followed suit. So far some 24 countries have passed necessary legislation to provide this facility or in the process of doing so. This is the first time internal threat to Dollar as fiat currency emerged. Yet this is just baby steps as Dollar as fiat currency is still holding sway in cash transactions.

The major blow came from Senator Alex Mooney from West Virginia who submitted a bill in the Congress in June 2023 to bring back the gold standard. Incidentally, West Virginia was one of the States that recognised gold coin issued by Federal Government as legal tender, however with a proviso that no person may compel any other person to tender or accept such gold coin

Alex Mooney is taking this effort to the next level. The process of returning to gold standard is not popular among the members of US legislature for good reasons. The limitless power to print fiat money by US administration is the liquidity that provides for the Government, Senators & business cabals to spend beyond their means. Once gold standard is back they have to walk to their sunset.

Yet the reality dawns among quite some patriotic Senators and public at large that return to gold standard is the only way to avert major crisis in the falling value of Dollars within and outside America. The pluses are overwhelming to initiate back to gold standard initiative. Few of these are summarised below:

1. Control of money supply is vested with Federal Reserve who must monitor the supply and make excess liquidity be withdrawn

2. Value of gold gets the boost initially followed by strengthening of Dollars

3. Removes the power of Treasury to over-spend or engineering value of Dollar to suit to their whims and fancies

4. Let the money market determines appreciation or depreciation of Dollar rather than US Administration fingering into market sentiments

5. The bottom line is to bring back gold to ensure the value of Dollar internationally would not be challenged by third parties.

Accordingly, Alex Mooney emerges as a pathfinder in reviving America once again as Geoeconomics power house!

 

Cheers!

 

Muthu Ashraff

Business Strategist

Mobile: + 94 777 265677

E-mail: cosmicgems@gmail.com

Blog:   Business Strategist