I cannot understand why there is any ambiguity about the fact that the so called leveraging deal for 'X' billion dollars from the Chinese is borrowing ! Ghana is borrowing 'X' billion dollars from the Chinese, and repaying wi ... read full comment
I cannot understand why there is any ambiguity about the fact that the so called leveraging deal for 'X' billion dollars from the Chinese is borrowing ! Ghana is borrowing 'X' billion dollars from the Chinese, and repaying with natural resources. This transaction is similar to previous 'off balance sheet transactions' that Companies resorted to partly as a way to make their reported accounts look good. These transactions were outlawed because they sought to misrepresent the true state of a Companies finances. The same can be said of the so called leveraging transaction - it seeks to misrepresent what is essentially a loan. Typical Bawumia deceptive creativity - a la pink sheets, and Togolese on Ghana voters register !!!
I Am A Winner 6 years ago
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BOY KOFI 6 years ago
If the father of a family needs to sell a part of his property to educate his children,what stops government from selling the 5% bauxite deposit to the Chinese?
Instead of leverage or modern barter,why not sell it outright t ... read full comment
If the father of a family needs to sell a part of his property to educate his children,what stops government from selling the 5% bauxite deposit to the Chinese?
Instead of leverage or modern barter,why not sell it outright to avoid paying unnecessary interest?
We have many mining companies here in Ghana with concessions but how come this leverage?In normal circumstance,these mining companies pay royalties,levies including social responsibilities.As this leverage,we are the ones paying interest within a specific time.
If it's a leverage,then why should Ghana pay interest?From a lay man's understanding,you only pay interest when you secure a loan.Thank you.
KWAPPS 6 years ago
Boy Kofi, who has said anything about anyone paying interest? Read proposal well and stop attacking for the fun of it or because you staunchly support the NDC. This is one hell of a deal that will leave the opposition stupefi ... read full comment
Boy Kofi, who has said anything about anyone paying interest? Read proposal well and stop attacking for the fun of it or because you staunchly support the NDC. This is one hell of a deal that will leave the opposition stupefied for a long time to come.
Atiah 6 years ago
Thank You
God bless you
Best article I have read
Thank You
God bless you
Best article I have read
Mallam Amotia JINNI Powers+2335471222 6 years ago
;; Hello people all over the world this is your number 1 spiritual consultation and problem solving center..Anybody out there whether in Ghana or any where in the world who is encountering any problem,difficulties,spiritual s ... read full comment
;; Hello people all over the world this is your number 1 spiritual consultation and problem solving center..Anybody out there whether in Ghana or any where in the world who is encountering any problem,difficulties,spiritual sickness or any sickness which u have fought for so long and u think the course is not physical and in any form should not hesitate to contact BLACKSUN (THE MARINE LORD) immediately for solution to your problems. If you have been to spiritualist,pastors,traditional preists, mallams or imams or taking steps or traveling to places to be free from all spiritual and demonic attacks and still not delivered or still having your problem pending,please dont waste time before is too late.Which attacks are you encountering ,whether from witchcraft,juju in our local language attacks and all sought of spiritual attacks just get in touch with BLACKSUN from Ghana.I based in USA and Ghana and currently in Ghana.People who have suffered long enough and otherwise should contact now for solution to your problems,whether is your business, illness,at your job site,money rituals,blood money, in traveling as well whether you need a visa or documents for your taveling or point of destination,anywhere in the World,favour/help from somebody whether locally or abroad or relative to help you.Any problem just get intouch . Also if you want protection from all kinds of spirits,also if you are a paster and wants powers for yourself and your church,with this one there are two types that is Gods spirit and Other spirits,with Gods spirits you do not have to charge people for what you do for them but with the Others you can charge for any services rendered..If you are also contesting election and wants to win should also get intouch whether you are a paliamentarian or seeking for the presidency.All people from all kinds and religeous and cultural background are welcome. thanks and hope to her from you all who are oppressed bye for now.This is my contact . or whatsapp (+233547122212.) NB... Nobody visits Blacksun and goes back with his or her problem
Jato P 6 years ago
We are concerned about the destruction of the Atewa forest reserve which serve as watershed for three importantb rivers which supply 5 million people with water. If the bauxite is mined in other locations other than the Atewa ... read full comment
We are concerned about the destruction of the Atewa forest reserve which serve as watershed for three importantb rivers which supply 5 million people with water. If the bauxite is mined in other locations other than the Atewa forest, no problem
BOY KOFI 6 years ago
Some Ghanaians have very short memory.Were we not in this country when NPP in opposition blocked $13 billion loans coming from Korea and China?
Tell me one reason why NDC should support NPP now.Thank you.
Some Ghanaians have very short memory.Were we not in this country when NPP in opposition blocked $13 billion loans coming from Korea and China?
Tell me one reason why NDC should support NPP now.Thank you.
Patriot 6 years ago
There was never a time the NDC had the brains to obtain a $13 billion loan from China. It was $3 billion but that loan was initiated by the NPP while in office. By the way the NDC did not get the money because Mahama had no i ... read full comment
There was never a time the NDC had the brains to obtain a $13 billion loan from China. It was $3 billion but that loan was initiated by the NPP while in office. By the way the NDC did not get the money because Mahama had no idea what to use it for and the Chinese realized they were dealing with imbeciles who were only waiting to pounce on the money and run. That is why they did not get it.
BOY KOFI 6 years ago
You have a very short memory,my friend.Do we have to debate on who knows how to secure loans or what's best for Ghana?Thank you.
You have a very short memory,my friend.Do we have to debate on who knows how to secure loans or what's best for Ghana?Thank you.
Kofi Thompson 6 years ago
Are There Not Better Ways To Leverage China's Wealth Than Giving It
Carte Blanche To Mine Ghana's Mineral Deposits For U.S.$19 Billion?
By Kofi Thompson.
Apparently, Ghana's vice-president believes that he and his econ ... read full comment
Are There Not Better Ways To Leverage China's Wealth Than Giving It
Carte Blanche To Mine Ghana's Mineral Deposits For U.S.$19 Billion?
By Kofi Thompson.
Apparently, Ghana's vice-president believes that he and his economic
management team have created a new paradigm, for funding economic
development in Africa. Amazing.
Perhaps it has never occurred to the geniuses who now govern us that
relentlessly pursuing GDP growth without ever stopping once to examine
what actually constitutes that growth in the real world, no longer
makes sense. Pity.
With that kind of mindset, no wonder the vice-president thinks that an
agreement that sees Ghana entering into a "joint-venture" with
resource-hungry China, which gives the Chinese carte blanche to mine
our nation's mineral deposits - including even those underneath our
forest reserves, incredibly - at a time when global climate change is
negatively impacting rural Ghana, is a bright idea. How very odd. And
how very shortsighted.
And, worst of all, to then go on to hold that shortsightedness up as
an example of stellar-smart-thinking and proudly inform the world that
Ghana is not being loaned U.S.$19 billion by China, but is rather
being paid upfront by its joint-venture Chinese partners for access
to the minerals underneath our nation's forests, betrays the delusion
our new masters of the universe are labouring under.
Undoubtedly, the Chinese simply cannot believe their luck. China is
literally being given access to all of Ghana's bountiful natural
resources by the selfsame nation whose citizens are up in arms
protesting against environmental degradation caused by mere minions in
the game of the brutal gang-rape of Mother Nature - Chinese
galamseyers.
Ghanaians must prepare themselves for even more lethal poisoning of
their nation's streams, rivers and groundwater sources and
environmental degradation on an apocalyptic scale - which is what we
will have to contend with when the big boys from China finally descend
upon us to "partner Ghana in a joint-venture" mining our nation's
mineral deposits.
At a time of global climate change, it is definitely not a very smart
move asking China to advance Ghana U.S. $19 billion as payment for
access to our country's massive mineral deposits: including even
mineral deposits underneath forest reserves.
If ecotourism will fetch us even more than the magical U.S.$19 billon
that the vice-president is so enamoured with, over time, and create
wealth that stays in Ghana instead of flowing out of it, and jobs
galore for our nation's younger generations, then the more responsible
sections of the Ghanaian media owe it to all the people of Ghana to
point out the fact that there are better "economic models" to
levarage to enable our nation generate money from China, which are
actually available to Ghana.
To begin with, it ought to be pointed out that last year (2016)
Thailand made U.S.$71 billion from the 31 million visitors it hosted
that year. So we can focus on creating an outbound Chinese ecotourism
market in Ghana by incentivising tens of millions of well-off
middle-class Chinese tourists to travel here.
If the geniuses who now govern our country had thought things through
properly before embarking on their trip to China, perhaps they would
have come up with a better plan using ecotourism to enable Ghana to
leverage some of China's wealth.
For example, if a ban is placed on the export of all unrefined gold
from this country - after seeking joint-venture partners in China for
the Precious Minerals Marketing Company Limited (PMMC) to produce
credit-card-sized gold bars, gold coins with Adinkra symbols and our
unique traditional-style gold jewelry - could we not create a
thriving outbound Chinese ecotourism market in Ghana for Chinese
tourists coming here to purchase the PMMC's credit-sized gold bars,
gold coins with Adinkra symbols on them and traditional-style Ghanaian
gold jewelry?
And would that not turn Ghana into a global gold trading centre,
which attracts tens of millions of Chinese and other Asian countries'
nationals to travel to Ghana regularly to purchase gold, I ask?
And would that not be a far better and more sustainable way to
leverage some of our mineral wealth to our own benefit in truly
win-win joint-venture partnerships between Ghanaian and Chinese
entrepreneurs accessing long-term loans from Chinese banks at
concessionary rates?
For the information of the vice-president and members of his economic
management team, with the greatest respect, yet another new paradigm
for economic development that they can share with the rest of Africa,
is to encourage joint-venture partnerships between Ghanaian (ditto
entreprenuers in other African nations) and foreign investors, to
profit from opportunities offered by the need to modernise and expand
our infrastructure.
The government of Ghana must allow such joint-venture partnerships to
bid in open international tenders, to self-finance the building of
railway lines, tolled concrete motorways, harbours, airports, etc.,
etc., and own, operate, as well as maintain them for 25-30 years
without paying any taxes on their profits during that period.
Clearly, there are other far better "economic models" available to
enable Ghana to develop with than that used to secure the advance
payment of U.S.$19 billion by China for access to Ghana's mineral
deposits.
Finally, we have culled and posted a Positive Money NZ blog article by
Marc Joseph entitled, "Change Money, Change the World" that ought to
be food for thought for the vice-president and his economic management
team, and will be an eye opener for many discerning and
independent-minded Ghanaians. If our leaders were creative thinkers
we could become a prosperous society very quickly. Pity.
Please read on:
"Positive Money NZ
PMNZ YouTube
facebook
Change Money, Change the World
By Marc Joseph
Isn't it frustrating to witness the growing inequality, poverty,
homelessness, and suffering that plagues society? The government's
efforts to address these ills are feeble and year after year the
situation gets worse. We all know well the government's litany of
excuses: "we don't have the money, we'd have to raise taxes, we have
to be fiscally prudent, we have to service the debt, money doesn't
grow on trees." It all boils down to money, doesn't it? But is it
true?
No, it's not true. The government's excuses don't stand up to
scrutiny, especially when we look at the facts about money. Money
comes in two forms, paper (notes and coin) and electronic. The paper
part comes from the RBNZ but that portion, about 2%, is insignificant.
All the digital money we use is produced by the private banks. It's
our national money, yet private institutions have been given the power
of producing it for our economy. Think of it. 98% of New Zealand's
dollars, which we must have to participate in the economy, is supplied
by private institutions.
So what about this digital money? It's produced by tapping a keyboard
and making an entry in a database, and this entry is shown on a
computer screen. This happens whenever a bank makes a loan. Here, it's
important to note that the financial system is based on a lie, the lie
that says the private banks act as financial intermediaries between
savers and borrowers. They do not. When you borrow from a bank, you
borrow new debt-money that is "printed" fresh just for you. No
pre-existing money is loaned. The bank creates the debt-money by
merely changing the number that appears in your account. This may come
as a shock to you, and it should because it's the shocking truth.
There is an important distinction to understand here. This new money
is unearned money. You have agreed to repay it, but the only way you
can repay it is to go out and earn it. The banking lie has you
believing that you are borrowing someone else's hard-earned money and
so you abide by the agreement to repay not just the loan but a premium
as well. Your relationship with the bank is completely unequal and
lacks full disclosure, and the interest is effortless profit for the
banks.
So we need to ask ourselves, is this how we want our nation's money to
be produced, only as loans? Is it right that the production of our
money be in the hands of private institutions that profit so vastly
with little or no effort? No way. And this debt has interest attached,
which means that the debt grows over time, increasing beyond the
capacity of the people to repay it. Indeed, the total debt owed to the
private banks today is almost two times greater than the total money
supply! This debt cannot and will not ever be repayed. So we work to
repay the unrepayable debt to private institutions who have done
virtually nothing. How can this be?
The reason is that people just don't know. Somehow, we've been
indoctrinated to never question the source of money. The result of
this is evident: inequality, poverty, homelessness, environmental
degradation, crisis. Are you concerned about the ludicrous prices
being paid for housing in Auckland and Wellington? The private banking
system, given free rein by the government, is your culprit. For a
private bank, the bigger the mortgage, the better.
And consider this. The authority to produce money comes from
government, so why is the government in debt? If 98% of New Zealand's
money is digitally produced, why doesn't the government do it? Indeed,
the government is constantly invoking "financial prudence" when it
explains why it can't provide the programs and services we all say we
want, so why does the government allow private production of these
debt-soaked dollars? How financially prudent is that?
Let's imagine a hypothetical situation. Society wants an end to
poverty and homelessness so the government embarks on a brilliant
initiative to do just that, mobilising the fabulous expertise and
intelligence of the people of NZ. It pays for it by issuing the money
straight out of the Treasury. No bonds, no borrowing, no debt. No
excuses. Meanwhile, the government passes laws to restrict debt-money
production by the private banks.
Of course, now we hear the last resort of the financial fear-mongers:
that would be inflationary! they cry. They don't mention that private
debt-money production in the last 100 years has decimated the
purchasing power of our dollar by 95%. They never admit that
interest-bearing debt is the true cause of inflation. And how many
financial crises of the last century can we enumerate? They were all
caused by their debt-soaked money and no doubt there's another crisis
lurking on the horizon. What possible justification can there be for
private control of our money supply? Debt-free money is far less
inflationary, if at all.
We need money. We don't need debt. Debt distorts the economy. It makes
it run inefficiently, squanders natural resources, drives the growth
imperative, wastes human potential, and greatly enriches a few at the
expense of the many. It's clear that society would reject private
production of our money if it understood this brutal regime with its
deplorable consequences.
Our challenge is to expose the lie and reveal the truth about the
production of money. Once society knows the truth, the private control
of our money will end. The people will demand that the government
assume control over our money supply and soon the financial solution
to our myriad problems will be available. No more debt.
So the truth is that there is no shortage of money. All that is
socially desirable is financially possible. The private banking
system's effortless profit is a millstone around our necks. It's
imperative that government assert its authority over the money supply
and properly fund, debt-free, an end to poverty and homelessness.
Money reform is a growing movement but you'll never read about it in
the media. Thankfully there are excellent resources on the internet.
Is there a more important use of one's time than to get informed about
the true nature of the financial regime? We've lived all our lives in
debt bondage, is that what we want for our grandchildren too?
So we have to provoke a public outcry. Why? Because the money scam is
an outrage. Because poverty and homelessness are guaranteed by the
debt-money system, we cannot succeed while it remains in place. It's
not a joke, the situation is dire and getting worse. Once people know,
poverty will end. Get informed. Tell everyone. Change money, change
the world.
I cannot understand why there is any ambiguity about the fact that the so called leveraging deal for 'X' billion dollars from the Chinese is borrowing ! Ghana is borrowing 'X' billion dollars from the Chinese, and repaying wi ...
read full comment
Are you yet to hook a job 6 Months into 2017?
How long more can you wait? Are there really enough jýobs for all? The world pays solution providers. Learn to become one!
FIX high-value SMART devices (some are btw $600-$100 ...
read full comment
INCREASE YOUR LIBIDO WHILES ENHANCING YOUR SEXUAL PERFORMANCE WITH MORE ENERGY AND STAMINA. USE VITAL 5 WITH MULTI MACA ( save your marriage ).
You can call /whatsapp me on 0572174551
(1). USE VITAL 5 WITH MULTI MACA have ...
read full comment
If the father of a family needs to sell a part of his property to educate his children,what stops government from selling the 5% bauxite deposit to the Chinese?
Instead of leverage or modern barter,why not sell it outright t ...
read full comment
Boy Kofi, who has said anything about anyone paying interest? Read proposal well and stop attacking for the fun of it or because you staunchly support the NDC. This is one hell of a deal that will leave the opposition stupefi ...
read full comment
Thank You
God bless you
Best article I have read
;; Hello people all over the world this is your number 1 spiritual consultation and problem solving center..Anybody out there whether in Ghana or any where in the world who is encountering any problem,difficulties,spiritual s ...
read full comment
We are concerned about the destruction of the Atewa forest reserve which serve as watershed for three importantb rivers which supply 5 million people with water. If the bauxite is mined in other locations other than the Atewa ...
read full comment
Some Ghanaians have very short memory.Were we not in this country when NPP in opposition blocked $13 billion loans coming from Korea and China?
Tell me one reason why NDC should support NPP now.Thank you.
There was never a time the NDC had the brains to obtain a $13 billion loan from China. It was $3 billion but that loan was initiated by the NPP while in office. By the way the NDC did not get the money because Mahama had no i ...
read full comment
You have a very short memory,my friend.Do we have to debate on who knows how to secure loans or what's best for Ghana?Thank you.
Are There Not Better Ways To Leverage China's Wealth Than Giving It
Carte Blanche To Mine Ghana's Mineral Deposits For U.S.$19 Billion?
By Kofi Thompson.
Apparently, Ghana's vice-president believes that he and his econ ...
read full comment
Great article and great analogy. Kudos