Comments by "François Lechanceux" (@francoislechanceux5818) on "Hindustan Times" channel.

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  31.  @kindface  There's absolutely no possible comparison whatsoever between the HK dollar and the Francs CFA. The former is totally a HK currency, created, managed, printed, influenced, controlled...by HK. The USA has nothing to do with that currency. The pegging with the USA dollars is not even a USA's action or decision. This needs repeating "the francs CFA is actually a full French currency in every which way you look at it". The African countries involved just receive the bank notes from France according to France's volition and the wealth they deposited with the French ministry of finance (Bercy). The central banks of these countries receive and distribute the notes to the population. And that's it. This is in part how it works: These countries keep their foreign reserves in France. They can't use below a certain amount even if they are dying of hunger. If things get worse for them, France will lend them their money with France and they will repair France but with a subsequent commission that France will keep. An example : Cameroon will by obligation keep 90% of its foreign reserves with the French central bank. Cameroon cannot use its own wealth held by France without France permission. And even at that, only a little percentage of Cameroon's foreign reserves with France is available for Cameroon's use. But if it desperately wants to use more of its own money held by France that will decrease its own foreign reserves in France coffers, then France will lend Cameroon Cameroon's own money held by France with interest. In other words, Cameroon will repay France with interest the Cameroon's own money that France lent to Cameroon. Can you beat that? And that interest Cameroon paid on its own money that France lent it will fully go to France. This beggars the mind, doesn't it. This has been going on since some 70 years or more now and 99% of the people of the world have no knowledge of this. Even French media never ever talk about the scam. Imagine the hysteria in the world if it was the USA doing this to African countries or European countries or Latin American countries etc.? 90% of the people of the world would have severally heard about it over and over and over again. But with France, nothing. Africans have complaining about since several decades but since it's France that is involved, nobody pays attention to them. France has made trillions of dollars with this scam since the last 70 years. That's why it doesn't want to let it go.
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