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THE NATURE OF MONEY
In modern society, the practice of economic development,has advanced to such extent grown complicated that the impact review of economic performance is vital to spread the fruits of economic equality to all mankind.Then we shall have to review the nature of money to engender this equity .This also meanns adding more vibrant features or characteristics to its nature.The invention of credit money by the authoe is a pointer to this solution as the only type of money that can ensure that equity .But first the blogger IBIKUNLE LANIYAN explores the basic nature of money.
Money is fundamental to the exchange of goods and services in modern
society and object of virtue and value and curse everywhere both to
accumulate wealth and poverty .Money itself by value hardly depreciates but the
exchange of money perpetrated by market forces too foreign to it ,
does change automatically but imperfectly to reflect this changing value
. When money by value declines , it is the exchange that declines by
value of its flow that is affected .The consequence is that faith-a
metaphysical fiduciary powers reposed in paper money also declines
.It is this faith in paper money being the original intrinsic and
extrinsic value which could be affected by the flow and exchange spiral,
leading to inflation and economic crisis . To curb this spiral and contagion
affecting the metaphysique of money and to stabilize the value of money
and make inflation positive –the only phenomenon of economic growth , the
liberalization of exchange of money , to perfect SONACA is the only
antidote , the commodity value can then spread wealth to every consumer
in an economy irrespective of economic status . Consumer spending would hardly
decline as long as exchange stability[stable money supply ] is maintained
and sustained .Growth in consumer spending would accelerate investment , boost
savings in the long run automatically tackle recession and maintain the
economic boom until an economy is willing to apply techno-cession .To
understand the stability of the word ‘money ’,we must understand change cycles
and its implication on other vital economic cycles and how they reflect on
monetary value .
When money changes hands , it is the value that is exchanged .Exchange keeps
swinging periodically affecting the monetary value even though this value is
stable .How do we preserve the value and spread the value and let it bear on
the exchange ? This we already resolved above .The commodity value of money
which is gloriously tied to the apron string of human faith is ordinarily
stable and a source of real wealth of commodity money that has not been tapped
.But the circulation value of money called money supply which abets inflation
influenced by unstable exchange often have an unbearing influence on the
general value of money and the economy controlled by credit arbitragers .So .
in real terms , the commodity value of money hardly or does not change
hands to contribute real value . When this happens , the word money adopts a
different and repugnant nature discouraging real wealth creation , real
economic growth in place of nominal wealth and nominal growth that can only be
possible if commodity value is restricted in the dunghill.
If encouraged , this boosts the transparent flows of disposable credit
money in a robust credit economy for the purpose of universal
welfare .
Basic Micro financial functions and economic exchange
The essence of microfinance ,not just the exchange of goods and services but
basically to redistribute wealth and circulate the commodity value of money
through disposable credit income to every needy economic agents .
Basic economy of exchange is sustained by extensive credit
arrangements albeit haunted by structural and institutional inadequacy
.In determining the value and volume of money exchanges , the annual
credit income per family and annual credit income per capital both determine
the quality of annual per capital national income per annum .What is the size
of this disposable national credit income on a sustainable basis that can
back up with each man ‘s naira or dollar of gross and net national income ?
What is the turnover rate of each naira or dollar of disposable credit income
annually ? Is it 5o times or 100 times turnover rate per year ? It is
this ratio upward quality trajectory devoid of distress market and tight credit
cycle can ensure sustainability of desired economic growth on the SONACA
Para-macroeconomic indicator .This is made possible by channeling
savings into redistributionist investment though not all is invested which
is vital to grow standard of living .
In modern society ,we admitted those who promote creation of wealth do
not promote real wealth but rather nominal wealth back up by nominal GDP growth
in contrast to redistribution of wealth and circulation of commodity value of
money .Real wealth has been discouraged with possible consequences of
boom and burst cycles .Without real wealth , marginal savings can also
take place but not real savings to promote universal wealth based on heavily
restricted business opportunities. Promoters of investments have been
able to dip their hands into these savings not owned by them to promote
concentration of wealth while original owners of wealth languished in
poverty .
There is constant flow of savings but the exchanges are not vastly different
and adequately efficient in the circulation of commodity value
ranging financial and microfinancial instruments to communicate values to
agents . Consequently , a non-redistributionist society does not parade a
uniform credit cycle or egalitarian cycle of credit arbitration in credit
assets or credit evenly contracted and expanded its efficient use
to over every potential needy project .LIBERALISATION OF THE ACESS TO CHEAP CREDIT
is a fundamental challenge to redistributionist oriented society than the
former in which circular flow of credit and credit money or income is evenly
endorsed to promote capital development .This is a fundamental basis of
free market economy .No free market exists without a robust national
credit trade .
A free market economy until now hardly exists a farce an illusion and
impossible without a robust credit trade or credit economy with extensive
patronage of financial sovereign intermediation .More than 200 years
after Adam Smith free market is yet to exist .This is a shame to western
scholars and the pattern of investment must be determined by the nature of this
free market economy .Forget about western neoliberalism .The first free market
economy model is the neomarxist free market which is represented by everyone an
only be endorsed in redistributionist society than a non-redistributionist
oriented society that discourage ordinarily even circular flows of funds among
its citizens with incentives pummeled by arbitraging bias .This is the very
first reflection of free market in mortal history and the 1st
generation of seven free market macro economic models evolved by market
redistributionism as we endeavor to exit modern age civilization to golden age
civilization under Potage Golden philosophical templates .
Mobilization of Savings and Multiplier effect .
Loan able funds arise from disposable[net ] savings [money not needed
by savers over a period of times ] excluding gross savings are channeled to
safe investment when mobilized by third party .The facility usually regarded as
credit has not been well utilized for a long time as an instrument of wealth
creation .What is the proportion of net national disposable savings to
back up meaningful investment per annum in an economy ? The use of
disposability is termed as gross credit oriented to promote credit income by
the borrowers after a satisfactory repayment .What is the proportion of
credit income required whether loans are rolled over or not
to promote a befitting standard of living for the
borrowers ? If sustainable after repayment , how can credit and credit
income be value added enough to continually run a marginal project without
recurring recourse to loans on a periodical basis ? It is pertinent to observe
as we know usually that a repeated credit purchases is
necessary to improved business performance .Guiding against credit risk
even for tested borrowers is a great challenge to microfinancial institutions .
Most importantly , the volumes and value of microfinancial instruments to
gulp the existing cumulative savings are a meager lot if not a rarity, do
not exist in the financial systems world wide .The cost of mobilization of
savings is too cumbersome and the use of savings does not really
have value and very costly in every sector of the economy .In real sense , in
modern societies , channels for their effective usage do not exist .
channeling savings and net national savings to where they are most needed
at the right time , at the right place , at the mass and at the right price
with the least cost and satisfactory convenience to necessarily
equate the targeted desired level of growth projected in an economy.
Micro financial Management in the free market society
The movement of capital credit and credit income through various grass
root acts of exchanging goods and services profiting largely from disposable
savings ,with the sole aim of grass root empowerment and SMEs
capacity building funds deployment for optimum informal sector performance can
be regarded as Micro financial management .Though can be noted as a
branch of financial management having secured a foothold on its own given some
appreciable disciplinary evolution over the last 30 or 40 years is finally
charting its own course with vital autonomy to enable it add more
economic value to general economy.
Actually , microfinance is the origin of finance to say the fact , in
the much same way in which we enthuse that micro credit is the
origin of the modern credit. Likewise , we need observe that
informal sector is the projector , the insulator and cradle of the
formal sector but as human economy grew complicated , the harbinger was left
behind and modern man regarded it as too naïve and a fugitive even in its
backyard; and by conniving with its siblings betrayed its legacy ,
this they did in the much same way as they have regarded freedom a
fugitive in our world today . Informal sector was left to rot and die if indeed
it can rot and die .The reclassification in the modern times is sequel to
change and growth in the finance technology of the age bringing it under the
shadow of a new world of civilization .
Microfinance , if fully perfected academically , technically and practically
is far more effective , advanced and broader than mainstream finance and should
not be grouped under it in any way whatsoever even though
micro[grassroot/unbankable finance ] is n’t much different from the word
‘finance’ but not with the same level of expertise especially in developing
countries with large informal sector economies . The larger spectrum of
world society does not have access to it which indicates the study of
finance theoretically and practically is still evolving and can only be
matured until microfinance by usage and spread has found its
final footing and bearing in the field of credit trade which must be
discovered and thus world economy can now be rebranded and reclassified
to have grown from the level of western primitive finance and jungle finance
textbook and moribund nature of microfinance into the broadest field of macro
finance , thereby giving birth to macro financial system from the present
wobbling and fumbling inhuman structure of financial system that Robert
Kiyosaki popularly regarded as a large ponzi scheme scattered all over the
world to the system in which every one is represented .This inadequacy we
may not know it and ignore it , is the fundamental basis of world
economic crisis .
Potage Golden templates and its diverse types of macroeconomic and
free market economy ’s models is to guide in the transition from the
present stage of neoliberal age to the final stage (in which macro
financial system is fully matured –that is to serve all) .Microfinance though
gained renaissance in 1960-70s which originated finance but was denied glory
and social status by existing social forces and betrayed by its own seed
through the noted arbitraging , crumpling its integrity and dignity
sunk for millennia before the rediscovery by Muhammad Yunus , Grameen
Bank and Accion in Latin America among others in the new waves of finance
technology sweeping the globe. Unfortunately the credit trade arbitragers
dominating world financial system were contented to award only face saving
Nobel prize to a world hero compared to Nobel price for economics despite
the fact he had more even more than or could be rated in the same category like
Adam Smith or Keynes .I really don t know why he had failed to receive
such attention . Being the father of unexplored microfinance macroeconomics
, he is far more better than these fellows because his policy or
technology touches close to 80 percent of world population if well
exploited .Now that he had been unfairly removed from his position at Grameen
did not speak well of the way an hero should be treated .Is that how to make
relevant someone who had contributed to world peace than all of western finance
and economic professors put together ? To be candid , it is the
greatest discovery in the field of finance and economics and the luminaries
deserved noble prize for economics not once but even twice .The rebirth
markedly opened a new chapter in finance and economics revolutions and a new
dawn bringing finally to an end the lifelong denial by the mutineers to
save world economy from landmines that economic vampires had supplanted and
unleashed on its well being for the entire stretch of human history .
The way in which microfinance is being managed has a great strategic impact
and redefining powers to revamp the characters of our socio-economic
system and a revolutionary to affect its optimum performance in a way to
transfer wealth through the disciplines of the market to the marginalized
segment of humanity .This aims at maximizing the quality and
quantity of economic freedom over all , restructuring where possible for the
purpose of universal welfare .We shall have to evaluate existing customs and
tradition out there from the study of financial institutions to the reflection
of the new role and new development and set corporate governance rules for the
budding micro financial institutions among us or new ones as is possible and
practicable in real world .
The Study of Microfinance And Changing Technology Of Finance .
Therefore like finance and economics , Microfinance , micro financial
management and micro financial economics and its ilk’s must be studied in
virtually every tertiary institution of the world or relevant studies of
finance modified so as to promote and broadens technical and professional
expertise in the field .This is vital for a field that has more to offer
in real world ,has great potential in spreading real growth ,real wealth
and real standard of living among citizenry of the marginalized societies
.We shall have to inquire more and improve ways in which all this dithering
models can impact heavily on fundamental human rights and
individual empowerment enterprise lagging behind in mainstream finance
markets .
THE NATURE OF MONEY
Money is fundamental to the exchange of goods and services in modern
society and object of virtue and value and curse everywhere both to
accumulate wealth and poverty .Money itself by value hardly depreciates but the
exchange of money perpetrated by market forces too foreign to it ,
does change automatically but imperfectly to reflect this changing value
. When money by value declines , it is the exchange that declines by
value of its flow that is affected .The consequence is that faith-a
metaphysical fiduciary powers reposed in paper money also declines
.It is this faith in paper money being the original intrinsic and
extrinsic value which could be affected by the flow and exchange spiral,
leading to inflation and economic crisis . To curb this spiral and contagion
affecting the metaphysique of money and to stabilize the value of money
and make inflation positive –the only phenomenon of economic growth , the
liberalization of exchange of money , to perfect SONACA is the only
antidote , the commodity value can then spread wealth to every consumer in
an economy irrespective of economic status . Consumer spending would hardly
decline as long as exchange stability[stable money supply ] is maintained
and sustained .Growth in consumer spending would accelerate investment , boost
savings in the long run automatically tackle recession and maintain the
economic boom until an economy is willing to apply techno-cession .To
understand the stability of the word ‘money ’,we must understand change cycles
and its implication on other vital economic cycles and how they reflect on
monetary value .
When money changes hands , it is the value that is exchanged .Exchange keeps
swinging periodically affecting the monetary value even though this value is
stable .How do we preserve the value and spread the value and let it bear on the
exchange ? This we already resolved above .The commodity value of money which
is gloriously tied to the apron string of human faith is ordinarily stable and
a source of real wealth of commodity money that has not been tapped .But the
circulation value of money called money supply which abets inflation influenced
by unstable exchange often have an unbearing influence on the general value of
money and the economy controlled by credit arbitragers .So . in real terms ,
the commodity value of money hardly or does not change hands to
contribute real value . When this happens , the word money adopts a different
and repugnant nature discouraging real wealth creation , real economic
growth in place of nominal wealth and nominal growth that can only be possible
if commodity value is restricted in the dunghill.
If encouraged , this boosts the transparent flows of disposable credit
money in a robust credit economy for the purpose of universal
welfare .
Basic Micro financial functions and economic exchange
The essence of microfinance ,not just the exchange of goods and services but
basically to redistribute wealth and circulate the commodity value of money
through disposable credit income to every needy economic agents .
Basic economy of exchange is sustained by extensive credit
arrangements albeit haunted by structural and institutional inadequacy
.In determining the value and volume of money exchanges , the annual
credit income per family and annual credit income per capital both determine
the quality of annual per capital national income per annum .What is the size
of this disposable national credit income on a sustainable basis that can
back up with each man ‘s naira or dollar of gross and net national income ?
What is the turnover rate of each naira or dollar of disposable credit income
annually ? Is it 5o times or 100 times turnover rate per year ? It is
this ratio upward quality trajectory devoid of distress market and tight credit
cycle can ensure sustainability of desired economic growth on the SONACA
Para-macroeconomic indicator .This is made possible by channeling
savings into redistributionist investment though not all is invested
which is vital to grow standard of living .
In modern society ,we admitted those who promote creation of wealth do
not promote real wealth but rather nominal wealth back up by nominal GDP growth
in contrast to redistribution of wealth and circulation of commodity value of
money .Real wealth has been discouraged with possible consequences of
boom and burst cycles .Without real wealth , marginal savings can also
take place but not real savings to promote universal wealth based on heavily
restricted business opportunities. Promoters of investments have been
able to dip their hands into these savings not owned by them to promote
concentration of wealth while original owners of wealth languished in
poverty .
There is constant flow of savings but the exchanges are not vastly different
and adequately efficient in the circulation of commodity value
ranging financial and microfinancial instruments to communicate values to
agents . Consequently , a non-redistributionist society does not parade a
uniform credit cycle or egalitarian cycle of credit arbitration in credit
assets or credit evenly contracted and expanded its efficient use
to over every potential needy project .LIBERALISATION OF THE ACESS TO CHEAP
CREDIT is a fundamental challenge to redistributionist oriented society than
the former in which circular flow of credit and credit money or income is
evenly endorsed to promote capital development .This is a fundamental
basis of free market economy .No free market exists without a robust
national credit trade .
A free market economy until now hardly exists a farce an illusion and
impossible without a robust credit trade or credit economy with extensive
patronage of financial sovereign intermediation .More than 200 years
after Adam Smith free market is yet to exist .This is a shame to western
scholars and the pattern of investment must be determined by the nature of this
free market economy .Forget about western neoliberalism .The first free market
economy model is the neomarxist free market which is represented by everyone an
only be endorsed in redistributionist society than a non-redistributionist
oriented society that discourage ordinarily even circular flows of funds among
its citizens with incentives pummeled by arbitraging bias .This is the very
first reflection of free market in mortal history and the 1st
generation of seven free market macro economic models evolved by market
redistributionism as we endeavor to exit modern age civilization to golden age
civilization under Potage Golden philosophical templates .
Mobilization of Savings and Multiplier effect .
Loan able funds arise from disposable[net ] savings [money not needed
by savers over a period of times ] excluding gross savings are channeled to
safe investment when mobilized by third party .The facility usually regarded as
credit has not been well utilized for a long time as an instrument of wealth
creation .What is the proportion of net national disposable savings to
back up meaningful investment per annum in an economy ? The use of
disposability is termed as gross credit oriented to promote credit income by
the borrowers after a satisfactory repayment .What is the proportion of
credit income required whether loans are rolled over or not
to promote a befitting standard of living for the
borrowers ? If sustainable after repayment , how can credit and credit
income be value added enough to continually run a marginal project without
recurring recourse to loans on a periodical basis ? It is pertinent to observe
as we know usually that a repeated credit purchases is
necessary to improved business performance .Guiding against credit risk
even for tested borrowers is a great challenge to microfinancial institutions .
Most importantly , the volumes and value of microfinancial instruments to
gulp the existing cumulative savings are a meager lot if not a rarity, do
not exist in the financial systems world wide .The cost of mobilization of
savings is too cumbersome and the use of savings does not
really have value and very costly in every sector of the economy .In real
sense , in modern societies , channels for their effective usage do not exist .
channeling savings and net national savings to where they are most needed
at the right time , at the right place , at the mass and at the right price
with the least cost and satisfactory convenience to necessarily
equate the targeted desired level of growth projected in an economy.
Micro financial Management in the free market society
The movement of capital credit and credit income through various grass
root acts of exchanging goods and services profiting largely from disposable
savings ,with the sole aim of grass root empowerment and SMEs
capacity building funds deployment for optimum informal sector performance can
be regarded as Micro financial management .Though can be noted as a
branch of financial management having secured a foothold on its own given some
appreciable disciplinary evolution over the last 30 or 40 years is finally
charting its own course with vital autonomy to enable it add more
economic value to general economy.
Actually , microfinance is the origin of finance to say the fact , in
the much same way in which we enthuse that micro credit is the
origin of the modern credit. Likewise , we need observe that
informal sector is the projector , the insulator and cradle of the
formal sector but as human economy grew complicated , the harbinger was left
behind and modern man regarded it as too naïve and a fugitive even in its
backyard; and by conniving with its siblings betrayed its legacy ,
this they did in the much same way as they have regarded freedom a
fugitive in our world today . Informal sector was left to rot and die if indeed
it can rot and die .The reclassification in the modern times is sequel to
change and growth in the finance technology of the age bringing it under the
shadow of a new world of civilization .
Microfinance , if fully perfected academically , technically and practically
is far more effective , advanced and broader than mainstream finance and should
not be grouped under it in any way whatsoever even though
micro[grassroot/unbankable finance ] is n’t much different from the word
‘finance’ but not with the same level of expertise especially in
developing countries with large informal sector economies . The larger
spectrum of world society does not have access to it which indicates the
study of finance theoretically and practically is still evolving and can only
be matured until microfinance by usage and spread has found
its final footing and bearing in the field of credit trade which must be
discovered and thus world economy can now be rebranded and reclassified
to have grown from the level of western primitive finance and jungle finance
textbook and moribund nature of microfinance into the broadest field of macro
finance , thereby giving birth to macro financial system from the present
wobbling and fumbling inhuman structure of financial system that Robert
Kiyosaki popularly regarded as a large ponzi scheme scattered all over the
world to the system in which every one is represented .This inadequacy we
may not know it and ignore it , is the fundamental basis of world
economic crisis .
Potage Golden templates and its diverse types of macroeconomic and
free market economy ’s models is to guide in the transition from the
present stage of neoliberal age to the final stage (in which macro
financial system is fully matured –that is to serve all) .Microfinance though
gained renaissance in 1960-70s which originated finance but was denied glory
and social status by existing social forces and betrayed by its own seed
through the noted arbitraging , crumpling its integrity and dignity
sunk for millennia before the rediscovery by Muhammad Yunus , Grameen
Bank and Accion in Latin America among others in the new waves of finance
technology sweeping the globe. Unfortunately the credit trade arbitragers
dominating world financial system were contented to award only face saving
Nobel prize to a world hero compared to Nobel price for economics despite
the fact he had more even more than or could be rated in the same category like
Adam Smith or Keynes .I really don t know why he had failed to receive
such attention . Being the father of unexplored microfinance macroeconomics
, he is far more better than these fellows because his policy or
technology touches close to 80 percent of world population if well
exploited .Now that he had been unfairly removed from his position at Grameen
did not speak well of the way an hero should be treated .Is that how to make relevant
someone who had contributed to world peace than all of western finance and
economic professors put together ? To be candid , it is the
greatest discovery in the field of finance and economics and the luminaries
deserved noble prize for economics not once but even twice .The rebirth
markedly opened a new chapter in finance and economics revolutions and a new
dawn bringing finally to an end the lifelong denial by the mutineers to
save world economy from landmines that economic vampires had supplanted and
unleashed on its well being for the entire stretch of human history .
The way in which microfinance is being managed has a great strategic impact
and redefining powers to revamp the characters of our socio-economic
system and a revolutionary to affect its optimum performance in a way to
transfer wealth through the disciplines of the market to the marginalized
segment of humanity .This aims at maximizing the quality and
quantity of economic freedom over all , restructuring where possible for the purpose
of universal welfare .We shall have to evaluate existing customs and tradition
out there from the study of financial institutions to the reflection of the new
role and new development and set corporate governance rules for the budding
micro financial institutions among us or new ones as is possible and
practicable in real world .
The Study of Microfinance And Changing Technology Of Finance .
Therefore like finance and economics , Microfinance , micro financial
management and micro financial economics and its ilk’s must be studied in
virtually every tertiary institution of the world or relevant studies of
finance modified so as to promote and broadens technical and professional
expertise in the field .This is vital for a field that has more to offer
in real world ,has great potential in spreading real growth ,real wealth
and real standard of living among citizenry of the marginalized societies
.We shall have to inquire more and improve ways in which all this dithering
models can impact heavily on fundamental human rights and
individual empowerment enterprise lagging behind in mainstream finance
markets .
CHAPTER--FAFOWORA VS. MADUNAGU; SEEKING FOR
IDEOLOGICAL FREEDOM
In reply
of postscript of May 26 written by Dapo Fafowora in The Nation campaigning for
the adoption of market neoliberalism
This axiom is undisputed for all time :that freedom is the salvation of man under sun and the commonwealth and godfather of all social progress and human civilization is the ideological freedom .It cannot be so successful to achieve its desired ends unless intellectual freedom is leveraged to transplant it from the nursery and preserve it into the main field .When they mature culture is reborn and refined which is the mother earth of all progress and the foundation of the universe .How so great if we adore them and we shall preserve our civilization for all time or launch imprecation that may take eternity to cure when abhorred. It is the greatest challenge in mortal history-indeed it is the greatest battlefield of freedom –author.
It is imperative to note that a society or a nation evolves based on the existing capacity of her economy and the available competence and core competence respectively needed to mobilize mass development cannot exceed this capacity rigidly motivated over time by wiles of nature and human instinct .
The development of human capacity , mainly human capital and human resources using these changing caprices predetermines the extent and the ratio of capital development that can be mustered over the long haul .Development therefore , no matter how small or big cannot go beyond the pedigree of social capacity at a time .
However , inasmuch as it is pivotal to mass development , without development ideology or ideological freedom , the uniqueness and the quality of capital development which is the totality of mass development at a time cannot also be sustained over the long run . In stead of long term sustainable mass development , or capital development , capital underdevelopment roosted by increasing development mortality had become a lasting patrimony in the developing territories .
In one of my previous posted articles ‘the concept of capacity building and economic development ’ l categorically shed light and appraisal on the mobilisable proportion and importance of capacity building and unrivalled influence on not just economic development but sustainable economic development and the ire effect and imprecation of brain drain over Africa .
Similarly , in my two books ‘Neomarxism : How to conquer world Poverty ’slated for publication in America and especially its African version ‘World Development Ideology and the Age of Microfinance ’(note:ebook version available } I also shed light on the effect of ideological subserviency over Africa ,diagnosing and proffering solutions to world wide economic crisis while using Africa as a case study , to nail the poser once and for all .
I also believed this is the first time in history in which development system is proposed for each territory of the world based on prevailing local macroeconomic climate .In my successive studies , even it is plainer to a layman or casual observer that the problem of Africa today or most developing territories is lack of ideological freedom .In these researches ,I highlighted the rise and fall of African civilizations and successive ones .
Today , after the fall , no attempt had been made and accumulated complacency [bibliomania sis ] encouraged the latter triumph of slave trade , the outburst of successive neocolonialism and relentless blind patronage of modern neoliberalism . No development ideology, nothing! Why? Even where we have some philosophers and economists or some good thinkers coming up making a giant stride like south western Marxism popularized by great Awo, they seem to be basically pro-west like Edwin Madunagu or a Neoliberal advocates like Soludo, Sule Lamido or Dapo Fafowora .
It is certainly clear that the gain of erstwhile banking reforms had be come moribund and effect unsustainable. Even the newly rescued banks according to AMCON will take 10trillion naira to be liquidated rather than 1.5trillion naira needed for recapitalization .The banking system is in a colossal mess. The economists and the policymakers are the major bane and bone of contention .This ilk’s hardly think out of the box .No one thinks clearly nor get rid of this bias .
To liberate African minds from the yoke of western ideological trap had become an arduous task .Even when their scientists and economists have been trying hard to relinquish and jettison past moribund theories which led to previous boom and burst mainly from the great depression of the 1930s to the past meltdown, our so called --African avangarde are still stuck in between , eating the excreta of dejected western moribund theories and proffering them as solutions to deter our nightmare . The worst part of this mess is that even a slight modification of these theories had been hard to come by.
The best we had was southern Marxism and effect not sustainable with the successive generation .Madunagu is an unrepentant Marxist .I have known him for long as media incendiary probably more than a decade now when I was still a vendor , before taken on journalism and writing as next target ,though we never met . A friend of mine was a core aficionado and is still very fond of him .He had so many followers like this guy and bequeathed nothing but trash to them .This guy hardly believed there were other intellectuals in the country that were far better than him . HE USUALLY CALLED HIM FATHER –‘ baba agba’ in Yoruba meaning somebody unbeatable and a leader in the field . All attempts to convince him he was no brainier sounded like the hoot of the raspberry .Fortunately , he is a scholar of repute and have strong sense of history .
Anyway , we can not take that from him .But my worry is that he would have been very good original luminary if he had challenged Marx AND contributed immensely to expand or refine Marxism in this country, besides being good historian because he is the nation’s no.1 Marxist and knows the terrain very well in and out .
THE FALL OF SOVIET UNION
It is particularly interesting to note that the propagation of ideology must be preceded and succeeded by a good sense of intellectual and ideological freedom .The crash of Soviet Union came as a result of lack of intellectual freedom for the people of the old Bolsheviks .
Hence , people were alienated from social ,political and economic freedom reserved only for the elite class who enjoyed the boon of ideological freedom .With the emergence of Stalinism , Marxism was heartlessly raped for good three decades and capital development was attained at the risk of intellectual freedom .It is the greatest empiricism in modern times as far as dispersal of ideological freedom is concerned .That in a society where ideological freedom is ensured , intellectual freedom sown over all citizens must be allowed to roost and distribute the gain of great charters of liberty over all .This was experienced by the Anglo-American or western Europe beginning from the Renaissance era and tirelessly keep mustering its steam for a good five centuries persistently clining even in the post-industrial age . We can imagine the kind of challenge a society without ideological freedom is facing talk less of an embedded disability potential entrenched in a socioeconomic system via the distribution of ideological freedom over all .
This axiom is undisputed for all time :that freedom is the salvation of man under sun and the commonwealth and godfather of all social progress and human civilization is the ideological freedom .It cannot be so successful to achieve its desired ends unless intellectual freedom is leveraged to transplant it from the nursery and preserve it into the main field .When they mature culture is reborn and refined which is the mother earth of all progress and the foundation of the universe .How so great if we adore them and we shall preserve our civilization for all time or launch imprecation that may take eternity to cure when abhorred. It is the greatest challenge in mortal history-indeed it is the greatest battlefield of freedom –author.
It is imperative to note that a society or a nation evolves based on the existing capacity of her economy and the available competence and core competence respectively needed to mobilize mass development cannot exceed this capacity rigidly motivated over time by wiles of nature and human instinct .
The development of human capacity , mainly human capital and human resources using these changing caprices predetermines the extent and the ratio of capital development that can be mustered over the long haul .Development therefore , no matter how small or big cannot go beyond the pedigree of social capacity at a time .
However , inasmuch as it is pivotal to mass development , without development ideology or ideological freedom , the uniqueness and the quality of capital development which is the totality of mass development at a time cannot also be sustained over the long run . In stead of long term sustainable mass development , or capital development , capital underdevelopment roosted by increasing development mortality had become a lasting patrimony in the developing territories .
In one of my previous posted articles ‘the concept of capacity building and economic development ’ l categorically shed light and appraisal on the mobilisable proportion and importance of capacity building and unrivalled influence on not just economic development but sustainable economic development and the ire effect and imprecation of brain drain over Africa .
Similarly , in my two books ‘Neomarxism : How to conquer world Poverty ’slated for publication in America and especially its African version ‘World Development Ideology and the Age of Microfinance ’(note:ebook version available } I also shed light on the effect of ideological subserviency over Africa ,diagnosing and proffering solutions to world wide economic crisis while using Africa as a case study , to nail the poser once and for all .
I also believed this is the first time in history in which development system is proposed for each territory of the world based on prevailing local macroeconomic climate .In my successive studies , even it is plainer to a layman or casual observer that the problem of Africa today or most developing territories is lack of ideological freedom .In these researches ,I highlighted the rise and fall of African civilizations and successive ones .
Today , after the fall , no attempt had been made and accumulated complacency [bibliomania sis ] encouraged the latter triumph of slave trade , the outburst of successive neocolonialism and relentless blind patronage of modern neoliberalism . No development ideology, nothing! Why? Even where we have some philosophers and economists or some good thinkers coming up making a giant stride like south western Marxism popularized by great Awo, they seem to be basically pro-west like Edwin Madunagu or a Neoliberal advocates like Soludo, Sule Lamido or Dapo Fafowora .
It is certainly clear that the gain of erstwhile banking reforms had be come moribund and effect unsustainable. Even the newly rescued banks according to AMCON will take 10trillion naira to be liquidated rather than 1.5trillion naira needed for recapitalization .The banking system is in a colossal mess. The economists and the policymakers are the major bane and bone of contention .This ilk’s hardly think out of the box .No one thinks clearly nor get rid of this bias .
To liberate African minds from the yoke of western ideological trap had become an arduous task .Even when their scientists and economists have been trying hard to relinquish and jettison past moribund theories which led to previous boom and burst mainly from the great depression of the 1930s to the past meltdown, our so called --African avangarde are still stuck in between , eating the excreta of dejected western moribund theories and proffering them as solutions to deter our nightmare . The worst part of this mess is that even a slight modification of these theories had been hard to come by.
The best we had was southern Marxism and effect not sustainable with the successive generation .Madunagu is an unrepentant Marxist .I have known him for long as media incendiary probably more than a decade now when I was still a vendor , before taken on journalism and writing as next target ,though we never met . A friend of mine was a core aficionado and is still very fond of him .He had so many followers like this guy and bequeathed nothing but trash to them .This guy hardly believed there were other intellectuals in the country that were far better than him . HE USUALLY CALLED HIM FATHER –‘ baba agba’ in Yoruba meaning somebody unbeatable and a leader in the field . All attempts to convince him he was no brainier sounded like the hoot of the raspberry .Fortunately , he is a scholar of repute and have strong sense of history .
Anyway , we can not take that from him .But my worry is that he would have been very good original luminary if he had challenged Marx AND contributed immensely to expand or refine Marxism in this country, besides being good historian because he is the nation’s no.1 Marxist and knows the terrain very well in and out .
THE FALL OF SOVIET UNION
It is particularly interesting to note that the propagation of ideology must be preceded and succeeded by a good sense of intellectual and ideological freedom .The crash of Soviet Union came as a result of lack of intellectual freedom for the people of the old Bolsheviks .
Hence , people were alienated from social ,political and economic freedom reserved only for the elite class who enjoyed the boon of ideological freedom .With the emergence of Stalinism , Marxism was heartlessly raped for good three decades and capital development was attained at the risk of intellectual freedom .It is the greatest empiricism in modern times as far as dispersal of ideological freedom is concerned .That in a society where ideological freedom is ensured , intellectual freedom sown over all citizens must be allowed to roost and distribute the gain of great charters of liberty over all .This was experienced by the Anglo-American or western Europe beginning from the Renaissance era and tirelessly keep mustering its steam for a good five centuries persistently clining even in the post-industrial age . We can imagine the kind of challenge a society without ideological freedom is facing talk less of an embedded disability potential entrenched in a socioeconomic system via the distribution of ideological freedom over all .
That is the ideology must be absorbed and fully imbibed over all irrespective of demographical differences prior to evolution of capital development so as to sustain ideological freedom –this is intellectual freedom .If the framework is abused , mass development could be strangulated which requires muses from the people for its success
.This remains a tall creed in the great charter of liberty .That a society to be liberated through ideological freedom must be mandated to also imbibe the fruits of intellectual freedom prior to explosion of capital development .This defines the essence of development cycle in a cameo which should be repeated by every successive generation so as to maintain and sustain growing antecedence of human civilization . Inability to adhere to this creed , better explains why democracy ,neoliberalism , nationalism , Marxism and the gains of economic freedom had failed woefully to materialize or yield result in most developing societies .
The great soviet society did attain this up to a time and capital development attained was not sustained with the next generation due to abuse of intellectual freedom .70 YEARS LATER led to its fall. It is necessary to observe that local tradition usually grows or patronizes new ideology use so slowly .But when intellectual freedom is entrenched in human tradition via psychological behaviour , ideological freedom can grow so quickly with mass development and then capital development nurtured as cycle graduates and flow sustainable .
NIGERIA IS
A FERTILE GROUND for ideological freedom especially in the south where mass
enlightenment is a bit higher-a proof that intellectual freedom can be
cultivated as the sole insulator of ideological freedom being the baseliners in
the great charters of liberty . WESTERN NEOLIBERALISM : A SINKING SAND Madunagu’s
unbridled and blind support for Marxism would not help Nigeria or developing
countries in any way without rethinking Marxism and refining Marx to gain
required aptitude and eligible standard for adoption .
That is an imperial fact .On May 26 ,2011 , I read ‘Searching for new Economic Perspectives ’a post script written in The Nation by Dapo Fafowora—a veteran essayist and young Nigerian mind making waves in this arena which informed the kernel of this article. I noted with rapture and bamboozle his erudition and perusal which exhumes the unworkable antecedence of socialism in most part of the world where it was adopted and how it was overtaken by Neoliberalism .He noted China , India and entire BRIC countries forming this nucleus and thus concluded that the model should be adopted for the Nigerian economy while declaring null and void the efficacy of socialist model .In my new book [African version ] .I call this mentality and prejudice ‘Biblio Myopia’ not common to developing countries alone .Mentally enslaved people hardly think out of this Pandora box of repression and especially we-- blacks are confronted with this problem as the most culturally subservient race .This stigma continues to confront us .
These men and we have similar features -- ideologically famished minds. Unfortunately , a Nigerian was calling for the adoption of the same model that led to great depression and the meltdown that thoroughly thrashed 5 out of 7 American investment banks into dungeon of obscurity .AIG , Merrill lynch , Bears Stearns , Lehman brothers and U.S. mortgage banks --Fannie Mae etc.all fell without remedy IN THE FOURTH QUARTER OF 2008 .A period in which MILLIONS OF Americans were bankrupt and homeless and countless marriages crumbled .
When the sub prime crisis took the world by storm in 2007 , not many knew it would lead to credit crunch of this magnitude that detonated the toxicity in 2008 .On September 15, 2008 ,Lehman crashed with the largest bankruptcy filings in U.S. history .Then Merrill Lynch ,the largest stockbrokerage company in the United States also went bankrupt and was bought by Bank of America .The same banksters behind the economic holocaust and the new depression with no financial education even though claimed otherwise , are still being looked upon , teaching people everywhere , proffering solution to the crisis they perpetrated .AIG ,Fannie Mae and Freddie Mac are still mired in depression , in serious trouble and haunted by the crisis .
Today , Warren Buffet a notorious criminal and the world leading bankster, running the world largest Ponzi scheme empire is still being courted by government to help proffer solution to the nagging crisis mustered by their empire .Seeking help from a bankster who helped midwives the crisis is unfair and who sold the toxic mortgages known as the derivatives to government , pension funds and investors around the world , after rating the same sub prime mortgages AAA through Moody -an agency he controls [like Wells Fargo , General Electric , American Express and Gold man Sachs ] can be regarded as a fraud .According Robert Kiyosaki in the new book –Unfair Advantage , he regarded selling sub prime debt packaged as AAA prime debt a ‘fraud ’.Yet his companies have received billions of dollars worth of bail out fund from government after the crash .
Is it not unjust that somebody behind the world largest Ponzi scheme empire is still being regarded as the smartest investor in the world ? Millions of homes are now under water , worth less than the mortgages .Retirement funds in America is short of 6.6 trillion dollars according to Kiyosaki and Boston college report 2010.These looses would leave Americans unsafe after retirement .In just one month alone August 2010 , approximately 108 billion dollars worth of defined benefit pension plan assets of the top 100 biggest corporations recorded monumental loses .
This means millions of Americans who contributed to this pool are in serious trouble of unsafe retirement and may not receive the guaranteed paycheck for life .Besides , the university of California retirement system –Calsters that was unfunded by half a trillion and engaged in risky investment , the Californian government pension agency ,Calpers –a public retirement pension system that accounts for 1.6million public employees ’health and pension benefits was also in serious trouble having lost more money than all others combined.
The spill –over effect of the successive financial contagion even in the immediate post –meltdown era has not yet abated .What a rascal we would be if it is adopted! Fafowora himself in the post script concluded that – ‘‘currently , three European countries-Greece , Portugal and Ireland have asked the EU for financial bail out to avoid falling into economic depression .The British coalition government has introduced savage cuts in public expenditure to reduce its huge budget deficits ’’ I believe these are short lived measures and inadequate options .Madunagu was right to interrogate the quality of Neoliberal free market , he proposed to liberate the nation from economic quagmire .
Then I burst to laughter a bit when he said ‘‘ So far Nigeria has been able to ward off a depression ’’I can ’t understand Fafowora linking it to a surge in unreliable oil income .Are we not in depression already or now in a country in which 15 million graduates are not employed and unemployable and 90 percent of the people are below poverty if we use UNDP poverty profile and not world bank poverty line concept .Great trouble is imminent if we adopt western neoliberalism hook line and sinker .Although , I quite disagree with Madunagu as a remorseless Marxism in most cases , but he was right to lampoon Fafowora ’s ignoble doses ‘with a populist passion ’ or any such ‘was bound to fail ’.
Truly speaking , it was a total failure in almost all developing countries .And mind you , market socialism not of the type preached by Madunagu had always been the savior .During A. Lincoln era besides the civil war [1861-65] James Garfield ’s 100 days in office and Kennedy ’s 1,000 days in the white house , the attempted introduction of U .S . green backs during the period to the era of Roosevelti an New deal that ended the depression at the end of world war 11 but disapproved and branded as national socialism by the supreme court in addition to Clintonian boom of the 90s –the golden age of U.S. economy
An era that created more than 22 million jobs and over 500billion dollars as surplus piled up in the treasury cannot be whisked away in a jiffy . The Marshall plan introduced during the end of the second world war to liberate Europeans from the miseries of the war cannot be forgotten but they blinkly unearthed some of its hidden potential
They same banksters behind the land speculative crisis of the 1830s were behind the great depression and who also profited immensely from the finance of world wars 1 & 2 helped induced the meltdown .During the depression, thirteen thousand banks crashed in America prior to establishment of FDIC in 1933 and from the end of the second world war till the 70s inflation not employment blanketed the nation. At the root of this problem ,the Fed .stood as the major catalyst of American economic crisis .
It would be surprising to note that American government did not have nor own a central bank because the Fed .does not belong to it .The private Wall street bankers owned the institution established by Woodrow Wilson in 1914.Here is an institutions that was created in violation of article 1 section 8 of the constitution which restricts delegation of the right and power to create money and regulate its value beyond the congress or o other body .Despite the fact in 1935 supreme court ruled against delegating this power to another authority , it acted contrary instead against the law .
By the time the President eye opened to the ponzi scheme , it was too late .A full trained Professor of Law-a senior intellect was deceived to defraud his country .The Federal Reserve Act gives private bankers the American sovereign powers and the most important of all powers .According to Stephen Lendman in the ‘Grand Theft America :The untold story Of global economic crisis’, is the one most of all that governments hardly relinquish which is the power to print money and control its supply .This is the greatest calamity ever bequeathed to ADAM Smith philosophy of free market .Not only control its supply but also determine its value or price its scarcity mainly through federal fund rate manipulation and through changes in the monetary policy .
It is graphically absurd to charge government interest on its own money and later returned the same flat with no interest to owner ,creating money out of nothing and mortgaging the future of generation yet unborn . When on June 4 , 1963 , with the Kennedy issuance of the executive order [EO] 11110 , it gave the authority to the President to issue currency, ordering the treasury to print U.S.treasury notes replacing the Fed . notes and attempted a process to let government owns its money and resided with the power to print money and not Fed. banksters .
Several months later he was killed and Lyndon Johnson took over government to reestablish the Ponzi scheme to the glory of the Banksters and continue with the statusquo of fraudulent monetary policy shift , contracting and expanding interest with no government regulation and oversight control while the taxpayer foot the bill .Does it make sense to create money out of nothing transferring wealth to the banksters from the people ? When Nixon came , in August ,1971 closed and ended the gold window which once backed local currency , suspended its convertibility into metal beginning a new dawn contrary to Breton Wood core provision.
Few greedy men had mortgaged the posterity as faith in the dollars declined on the altar of profligate policies and unbridled corruption . According to Lend man half a century later after the great Jefferson statement ,Lincoln narrated his vision : I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country ….corporations including bankers have been enthroned and an era of corruption in high places will follow , and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the republic is destroyed .
’’The Fed today is the world largest Ponzi scheme . It is the most fraudulent central bank in the world controlled by greedy banksters who were behind the killings of three American presidents for trying create one .Economist Michael Hudson and critics Stephen Lend man in their critics of meltdown reconstruction efforts had regarded EESA ‘cash for trash ’as a give away and not bail out .It indicates simply transfer of public wealth to the few banksters and insiders –a sort of financial coup d’etat and the largest and the most inequitable kind since the 19th century. That is why I have contended that inequality of wealth leading to reguflation causes inflation.
.The critics lamented this inequality and were angry at the amount of deceit and relentless fraud going on in the system .Having dished out junk of all sorts –structured finance or SIVs ,credit default swap , securitized mortgages , student loans , collateralized debt obligations such as car loans , credit and corporate debt , special purpose vehicles [SPVs] repackaged arcane and commercial papers and more later resorted to costly hedging ,when the bubble burst to socializing losses at the expense of hapless taxpayers .
This enriched the fraudsters to cripple the economy .A system that rewarded criminals and crashed industrial capitalism replacing it with the kleptocrats .Little wonder Jefferson regarded the banking institutions as far ‘more dangerous to our liberty than our standing armies . Already , they have raised up a money aristocracy that has set government at a defiance. ’He further noted : the issuing power should be taken from the banks and restored to the people to whom it properly belongs ’.
There is a great deal of secrecy going on in the Wall Street . Some have blamed the universal banking model as the real culprit but indeed not really . In the banking crisis of 1930s the reform advocates during the period blamed losses on the reckless behaviour of securities’ affiliates of commercial banks .The universal banking model which entertains full gamut of both retail and wholesale ends of the chains offering services across diverse sectors and regions was scrapped with the emergence of Glass Steagall Act of 1933 repealed in 1999 which stipulated and enforced legal separation of commercial banking and investment banking .
But during the period subsequent perod have shown that those institutions without a security arms had a much greater threat and tendency to fail .Whether both studies are good and reliable or not is a matter of intellectual debates with the emergence of great meltdown .It is inadequate to link the problem really to lax lending practices , poor savings , poor credit rating , credit crunch and poor regulation .This happens everywhere .
These are secondary inconsequential factors . This indicates that the system is the problem and inadequacy entrenched in the neoliberal free market would keep crisis reappearing unless new model is evolved .How can few private banksters and greedy individuals in the country mortgaged the right to central banking of a sovereign and most powerful nation like America to their own parochial ends ? What they did not know is that inflation and recession are twin arms of inequality of wealth.
What a calamity will we caused our nation if adopted ! .About 13,000 banks crashed during the depression and was speculated that in a decade about half or more of 9,000 banks would soon go if the present model persists. We should not be a rascal to adopt this moribund theories here in Nigeria. Not many knew that even before the laws of the market were discovered by Adams Smith ,some scope of communism and extensive practice of unrefined market socialism not really the sort preached by utopian socialism was endorsed in Europe .
A long barren medieval abetted this practice . Moreover, this lasted from the late medieval for instance for good 800 years in France even after its revolution of 1789 [ref.Robert Heilbroner: Economic Revolution, pg.137,shaping of western civilization explains the mood of the era ] .The Renaissance movement that started in Italy became the sole catalyst of modern free market which began in Britain and lucre was the sole motivator .The trenches of disillusionment he noted with neoliberalism in the 70s and 80s and its total failure was due to ongoing ideological rivalry of the period or so called cold war a period in which it was reborn and resurrected by P.M. Thatcher in G. Britain and President R.Reagan in America . They adopted the philosophy of Adams Smith followers-Fredrick Von Hayek and Prof .Milton Friedman .When Soviet union fell , democracy and political freedom [ not economic freedom ] swept the world like tidal wave –a major reason behind its growing patronage and increasing world poverty prevalence
That is an imperial fact .On May 26 ,2011 , I read ‘Searching for new Economic Perspectives ’a post script written in The Nation by Dapo Fafowora—a veteran essayist and young Nigerian mind making waves in this arena which informed the kernel of this article. I noted with rapture and bamboozle his erudition and perusal which exhumes the unworkable antecedence of socialism in most part of the world where it was adopted and how it was overtaken by Neoliberalism .He noted China , India and entire BRIC countries forming this nucleus and thus concluded that the model should be adopted for the Nigerian economy while declaring null and void the efficacy of socialist model .In my new book [African version ] .I call this mentality and prejudice ‘Biblio Myopia’ not common to developing countries alone .Mentally enslaved people hardly think out of this Pandora box of repression and especially we-- blacks are confronted with this problem as the most culturally subservient race .This stigma continues to confront us .
These men and we have similar features -- ideologically famished minds. Unfortunately , a Nigerian was calling for the adoption of the same model that led to great depression and the meltdown that thoroughly thrashed 5 out of 7 American investment banks into dungeon of obscurity .AIG , Merrill lynch , Bears Stearns , Lehman brothers and U.S. mortgage banks --Fannie Mae etc.all fell without remedy IN THE FOURTH QUARTER OF 2008 .A period in which MILLIONS OF Americans were bankrupt and homeless and countless marriages crumbled .
When the sub prime crisis took the world by storm in 2007 , not many knew it would lead to credit crunch of this magnitude that detonated the toxicity in 2008 .On September 15, 2008 ,Lehman crashed with the largest bankruptcy filings in U.S. history .Then Merrill Lynch ,the largest stockbrokerage company in the United States also went bankrupt and was bought by Bank of America .The same banksters behind the economic holocaust and the new depression with no financial education even though claimed otherwise , are still being looked upon , teaching people everywhere , proffering solution to the crisis they perpetrated .AIG ,Fannie Mae and Freddie Mac are still mired in depression , in serious trouble and haunted by the crisis .
Today , Warren Buffet a notorious criminal and the world leading bankster, running the world largest Ponzi scheme empire is still being courted by government to help proffer solution to the nagging crisis mustered by their empire .Seeking help from a bankster who helped midwives the crisis is unfair and who sold the toxic mortgages known as the derivatives to government , pension funds and investors around the world , after rating the same sub prime mortgages AAA through Moody -an agency he controls [like Wells Fargo , General Electric , American Express and Gold man Sachs ] can be regarded as a fraud .According Robert Kiyosaki in the new book –Unfair Advantage , he regarded selling sub prime debt packaged as AAA prime debt a ‘fraud ’.Yet his companies have received billions of dollars worth of bail out fund from government after the crash .
Is it not unjust that somebody behind the world largest Ponzi scheme empire is still being regarded as the smartest investor in the world ? Millions of homes are now under water , worth less than the mortgages .Retirement funds in America is short of 6.6 trillion dollars according to Kiyosaki and Boston college report 2010.These looses would leave Americans unsafe after retirement .In just one month alone August 2010 , approximately 108 billion dollars worth of defined benefit pension plan assets of the top 100 biggest corporations recorded monumental loses .
This means millions of Americans who contributed to this pool are in serious trouble of unsafe retirement and may not receive the guaranteed paycheck for life .Besides , the university of California retirement system –Calsters that was unfunded by half a trillion and engaged in risky investment , the Californian government pension agency ,Calpers –a public retirement pension system that accounts for 1.6million public employees ’health and pension benefits was also in serious trouble having lost more money than all others combined.
The spill –over effect of the successive financial contagion even in the immediate post –meltdown era has not yet abated .What a rascal we would be if it is adopted! Fafowora himself in the post script concluded that – ‘‘currently , three European countries-Greece , Portugal and Ireland have asked the EU for financial bail out to avoid falling into economic depression .The British coalition government has introduced savage cuts in public expenditure to reduce its huge budget deficits ’’ I believe these are short lived measures and inadequate options .Madunagu was right to interrogate the quality of Neoliberal free market , he proposed to liberate the nation from economic quagmire .
Then I burst to laughter a bit when he said ‘‘ So far Nigeria has been able to ward off a depression ’’I can ’t understand Fafowora linking it to a surge in unreliable oil income .Are we not in depression already or now in a country in which 15 million graduates are not employed and unemployable and 90 percent of the people are below poverty if we use UNDP poverty profile and not world bank poverty line concept .Great trouble is imminent if we adopt western neoliberalism hook line and sinker .Although , I quite disagree with Madunagu as a remorseless Marxism in most cases , but he was right to lampoon Fafowora ’s ignoble doses ‘with a populist passion ’ or any such ‘was bound to fail ’.
Truly speaking , it was a total failure in almost all developing countries .And mind you , market socialism not of the type preached by Madunagu had always been the savior .During A. Lincoln era besides the civil war [1861-65] James Garfield ’s 100 days in office and Kennedy ’s 1,000 days in the white house , the attempted introduction of U .S . green backs during the period to the era of Roosevelti an New deal that ended the depression at the end of world war 11 but disapproved and branded as national socialism by the supreme court in addition to Clintonian boom of the 90s –the golden age of U.S. economy
An era that created more than 22 million jobs and over 500billion dollars as surplus piled up in the treasury cannot be whisked away in a jiffy . The Marshall plan introduced during the end of the second world war to liberate Europeans from the miseries of the war cannot be forgotten but they blinkly unearthed some of its hidden potential
They same banksters behind the land speculative crisis of the 1830s were behind the great depression and who also profited immensely from the finance of world wars 1 & 2 helped induced the meltdown .During the depression, thirteen thousand banks crashed in America prior to establishment of FDIC in 1933 and from the end of the second world war till the 70s inflation not employment blanketed the nation. At the root of this problem ,the Fed .stood as the major catalyst of American economic crisis .
It would be surprising to note that American government did not have nor own a central bank because the Fed .does not belong to it .The private Wall street bankers owned the institution established by Woodrow Wilson in 1914.Here is an institutions that was created in violation of article 1 section 8 of the constitution which restricts delegation of the right and power to create money and regulate its value beyond the congress or o other body .Despite the fact in 1935 supreme court ruled against delegating this power to another authority , it acted contrary instead against the law .
By the time the President eye opened to the ponzi scheme , it was too late .A full trained Professor of Law-a senior intellect was deceived to defraud his country .The Federal Reserve Act gives private bankers the American sovereign powers and the most important of all powers .According to Stephen Lendman in the ‘Grand Theft America :The untold story Of global economic crisis’, is the one most of all that governments hardly relinquish which is the power to print money and control its supply .This is the greatest calamity ever bequeathed to ADAM Smith philosophy of free market .Not only control its supply but also determine its value or price its scarcity mainly through federal fund rate manipulation and through changes in the monetary policy .
It is graphically absurd to charge government interest on its own money and later returned the same flat with no interest to owner ,creating money out of nothing and mortgaging the future of generation yet unborn . When on June 4 , 1963 , with the Kennedy issuance of the executive order [EO] 11110 , it gave the authority to the President to issue currency, ordering the treasury to print U.S.treasury notes replacing the Fed . notes and attempted a process to let government owns its money and resided with the power to print money and not Fed. banksters .
Several months later he was killed and Lyndon Johnson took over government to reestablish the Ponzi scheme to the glory of the Banksters and continue with the statusquo of fraudulent monetary policy shift , contracting and expanding interest with no government regulation and oversight control while the taxpayer foot the bill .Does it make sense to create money out of nothing transferring wealth to the banksters from the people ? When Nixon came , in August ,1971 closed and ended the gold window which once backed local currency , suspended its convertibility into metal beginning a new dawn contrary to Breton Wood core provision.
Few greedy men had mortgaged the posterity as faith in the dollars declined on the altar of profligate policies and unbridled corruption . According to Lend man half a century later after the great Jefferson statement ,Lincoln narrated his vision : I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country ….corporations including bankers have been enthroned and an era of corruption in high places will follow , and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until all wealth is aggregated in a few hands and the republic is destroyed .
’’The Fed today is the world largest Ponzi scheme . It is the most fraudulent central bank in the world controlled by greedy banksters who were behind the killings of three American presidents for trying create one .Economist Michael Hudson and critics Stephen Lend man in their critics of meltdown reconstruction efforts had regarded EESA ‘cash for trash ’as a give away and not bail out .It indicates simply transfer of public wealth to the few banksters and insiders –a sort of financial coup d’etat and the largest and the most inequitable kind since the 19th century. That is why I have contended that inequality of wealth leading to reguflation causes inflation.
.The critics lamented this inequality and were angry at the amount of deceit and relentless fraud going on in the system .Having dished out junk of all sorts –structured finance or SIVs ,credit default swap , securitized mortgages , student loans , collateralized debt obligations such as car loans , credit and corporate debt , special purpose vehicles [SPVs] repackaged arcane and commercial papers and more later resorted to costly hedging ,when the bubble burst to socializing losses at the expense of hapless taxpayers .
This enriched the fraudsters to cripple the economy .A system that rewarded criminals and crashed industrial capitalism replacing it with the kleptocrats .Little wonder Jefferson regarded the banking institutions as far ‘more dangerous to our liberty than our standing armies . Already , they have raised up a money aristocracy that has set government at a defiance. ’He further noted : the issuing power should be taken from the banks and restored to the people to whom it properly belongs ’.
There is a great deal of secrecy going on in the Wall Street . Some have blamed the universal banking model as the real culprit but indeed not really . In the banking crisis of 1930s the reform advocates during the period blamed losses on the reckless behaviour of securities’ affiliates of commercial banks .The universal banking model which entertains full gamut of both retail and wholesale ends of the chains offering services across diverse sectors and regions was scrapped with the emergence of Glass Steagall Act of 1933 repealed in 1999 which stipulated and enforced legal separation of commercial banking and investment banking .
But during the period subsequent perod have shown that those institutions without a security arms had a much greater threat and tendency to fail .Whether both studies are good and reliable or not is a matter of intellectual debates with the emergence of great meltdown .It is inadequate to link the problem really to lax lending practices , poor savings , poor credit rating , credit crunch and poor regulation .This happens everywhere .
These are secondary inconsequential factors . This indicates that the system is the problem and inadequacy entrenched in the neoliberal free market would keep crisis reappearing unless new model is evolved .How can few private banksters and greedy individuals in the country mortgaged the right to central banking of a sovereign and most powerful nation like America to their own parochial ends ? What they did not know is that inflation and recession are twin arms of inequality of wealth.
What a calamity will we caused our nation if adopted ! .About 13,000 banks crashed during the depression and was speculated that in a decade about half or more of 9,000 banks would soon go if the present model persists. We should not be a rascal to adopt this moribund theories here in Nigeria. Not many knew that even before the laws of the market were discovered by Adams Smith ,some scope of communism and extensive practice of unrefined market socialism not really the sort preached by utopian socialism was endorsed in Europe .
A long barren medieval abetted this practice . Moreover, this lasted from the late medieval for instance for good 800 years in France even after its revolution of 1789 [ref.Robert Heilbroner: Economic Revolution, pg.137,shaping of western civilization explains the mood of the era ] .The Renaissance movement that started in Italy became the sole catalyst of modern free market which began in Britain and lucre was the sole motivator .The trenches of disillusionment he noted with neoliberalism in the 70s and 80s and its total failure was due to ongoing ideological rivalry of the period or so called cold war a period in which it was reborn and resurrected by P.M. Thatcher in G. Britain and President R.Reagan in America . They adopted the philosophy of Adams Smith followers-Fredrick Von Hayek and Prof .Milton Friedman .When Soviet union fell , democracy and political freedom [ not economic freedom ] swept the world like tidal wave –a major reason behind its growing patronage and increasing world poverty prevalence
AS
UNFINISHED REVOLUTION MARXISM SUFFERS DAMAGE OF IDEOLOGICAL DISCIPLESHIP
But the
problem here is that Karl Marx had no ideological disciples like Biblical Jesus
, Prophet Muhammad or like Adam Smith ,whether in support or in opposition of
the baseliner model .Smith had masters before him . Thomas Mum ’s mercantilism
came before him and free market existed before him fully entrenched in human
tradition left unexplored We also have people like John Law and the share
trading of Mississippi company .When he came he reorganized this field of
economics and had a large followers who succeeded him consistently polishing
his thoughts .For instance , from the classical economics to neoclassical
economics that produced the like J.B. Says among others to people like Joseph
Schumpeter or historical giants like Milton Friedman ’s monetarism and Hayek ,
the world had become a better place to live ushering in unprecedented prosperity
whose views were heavily adopted and respected around the world .Though Nobel
laureates in economics are awarded on annual basis contributing their quota ,
broadening the study , many more challenges and hurdles however still remain to
be mounted .--- The Keynesians and the era of macroeconomics were also
influenced by classical economics ’s theory of larger market , mass production
, division of lab our , laissez faire etc. [ref.later study on macroeconomics ]
.
Whereas
Marxism suffers drought in this regard .Besides Engel , I barely knew or read
about a prominent philosopher or many of such expanding this field of thoughts
--Marxist economics .Practically none . Yet, it is the sole alternative study
and the most reliable to spread wealth evenly ,or near evenly to ensure
universal prosperity and banish poverty if well refined . The utopian
socialists before Marx or prior to 1848 European revolution were prominent
historical figures who mentored and indirectly influenced Marxism and
Bismarckian nationalism, drawing inspiration from the failure of the revolution
.
I
believe that lack of disciples in the development of this field and the nature
of stiff resistance meted out to opposing schools especially during Stalin era
strictly accounted for the fall of old Soviet . Several countries that adopted
it like Cuba or China couldn’t survive solely with it. And even Cuba would cave
in sooner or later to free market deceit like China because lucre is a deceiver
.The reason is simple : Marxism was regarded as ‘ unfinished revolution
’because many details and grievances were left unexplained and unsettled
.Several principles that should form the nucleus of Marxist Scriptures guiding
the transition of social institutions towards the communist homeland were not
expatiated and clarified . In ‘Adam Ulam: The Unfinished Revolution ’Ulam noted
‘‘How different will the better world of socialism be from the old one of
capitalism? Marx and Engel have notoriously little to say about the wonderful
new world their criticism and theories imply ’’
So much
references were made in regard to the nature of capitalism compared to skimpy
evidence of socialism .The Marxist world of Western Europe in 1880 fell mainly
to Engel but his view was not that vastly different from his great companion
.When he died in 1895, Ulam concluded ‘‘the canon of Marxism was frozen and
vital questions of socialist role in parliamentarianism of the nature of
transition from capitalism and of socialism itself remained to be fought over
by revisionists and orthodox Marxists ’’As noted by an American ‘ain’t no
disciple gat no appeal ’. I want to believe the anticlericals that form the
nucleus of the reformation of the 16th century by the nature of their roles
were socialists The Martin Luther king Jnr.Malcolm X. Rosa Parks among others
who redefined American values , racial equality and the course of black history
were no less socialists in the modern sense .
Little
wonder, the permission obtained by Edgar Hoover from the U.S.attorney general
of the period to ransack and scrutinize King’s private life found out
shockingly he was no communist but indeed his action showed otherwise .If there
were disciples shortly after Marx and Engel to polish this ideology , it could
have been a more powerful force in mortal history .The role of ideological
disciples [ as opposed to mere followers] is to maintain and sustain the tempo
vital in the distribution of ideological freedom transplanted by early golden
age thinkers in the field .Darwin also had great followers like many of the
world great religion founders.
DARWIN ’s
LONG STANDING HISTORICAL COLOSSUS
Charles
Darwin had a good history to draw from .According to Robert Wright -the author
of Moral Animal , he noted after the Origin Of Man ,a great revolution began
with the emergence of an increasing body of natural researches beginning from
historians like John C.Greene and intellectual reactionaries such as William
Hamilton ,George Williams ,Robert Trivers and John Maynard Smith encouraged the
deepening that occurred thereafter in the study of evolution .
This
broadened the instinct of evolutionary biologists opening the long withheld
mysteries behind the social behaviour of animals and man .Wright concluded when
he noted the existing defects that two epoch making books such as E.O.Wilson’s
Sociobiology ,(1975) and Richard Dawkins (1976)-The Self fish Gene’ which spoke
relatively little about the influence of human behaviour no doubt contributed
their quota to increasing global appeal of Darwinism . The study of Darwinism or
evolution is by no means peculiar to Darwin .Charles Lyell is the pioneer in
this field had already advanced the study prior to or as at the time that
Darwin started his thesis drafting 35 pages and expanded it to 230 pages later.
While Newton discovered the laws of nature and dominated the 17th century
,Darwinist thesis on the evolution of man also competed during the period .Jean
de Lamark (1744-1829) had earlier challenged the immutable fixity of species
envisioning a comprehensive evolution from worm to man using the theory of
acquired characteristics to explain the evolutionary process .Karl Marx also
applied this to social sciences that social institutions were constantly in the
process of change .
The thesis
started from 1840s upward . In his ‘Progress ,its Law and Cause ’Herbert
Spencer applied this to all phenomena. Whether commerce , Production , social
development , language ,science ,literature and art all undergo simple
evolution. This I described as ‘development cycles’ which rests largely on the
institution of freedom .The social Darwinist who adopted this philosophy
utilized its belief to justify the golden age of colonial expansion and
Darwinism was enforced to justify imperialism of weaker race [i.e. blacks]
.That colonies were instrumental to the survival of great powers .The
philosophy of the aggressors-Marxists , Bismarckian nationalists and social
Darwinists may not serve well Africa because it was meant to keep us as a
perennially defeated race . The resistance and loggerheads between Darwinists
and creationists till date serves to broaden the horizon and study of natural
selection spreading intellectual freedom beyond initial scope that could have
moved even Darwin in his grave today .
The
successive development created so many schools of thoughts and later refined
their world view such as the belief of social Darwinists .On the other hand ,
in the Greek society , Several branches of philosophy such as Epicure ,
Stoicism and existentialism were evolved .But by the nature of their evolution
had finished their assignment booking a place of pride I n the world
civilization ’s history - It is necessary for ideology itself to evolve like
every field of human study , it has promoted .This eradicates the
irregularities and shortcomings involved in the original context for the
benefit of universal welfare .
THE
SOCIALIST MOVEMENT VS. THE SOCIALIST ENTERPRISE.
The
socialist movement debuted as an intellectual and ideological institution in
the 19th century . This created a means to counter the problems posed by rising
tide of industrialism and launch protest against liberalism .Socialism as a
word and ideology first appeared in 1833 and 1839 respectively .It simply
re-emphasized the need to return to pre-liberal traditional society that once
existed prior to explosion of industrial revolution .They were concerned with
the social challenges created by industrial evils and the inherent trespass on
right of man .That a society exists for the benefit of all its members as
advocated in the middle ages ..They opposed the free market powers of the
individual bourgeoisies which they believed had prompted social misery of
industrial workers. They advocated social cooperation ,state capitalism and
planned economy . Even though they could not cope they represent a rising
conscience against the evils of capitalism .
In
France , count of Saint Simons (1760-1825)a bold aristocrat held sway who also
fought alongside the patriots during the American war was the first to realize
this challenge. Rene Joseph Proudhon (1809-1865) a self professed anarchist of
French peasant stock also consolidated socialist influence in France .He was
hostile to state and opposed private property .Robert Owen (1771-1878),a
successful textile industrialist believe in good education and a good working
environment would lead to human progress .Simon’s most vocal critics –Charles
Fourier distrusted all centrally planned authorities and believe large
bureaucracy would certainly lead to anarchy .Nigeria should learn from this
.Whereas Sismondi a swiss economist entertained a popular stance believed all
class struggle occurred as a result of world scarcity of goods .He could have
been a great Marxist economist had he being that popular with that viewpoint a
world model like Smith.
My view on
Neomarxism is a bit similar to this ends. He believed that with the new means
of mechanical production an increasing floodgate of goods if left unchecked
would lead to class war far more incomparable to previous wars. In an attempt
to gain market share over temporary market rivals , increased competition
induced by increase marketing , would create lower wages and increase working
hours which would in turn lead to economic crisis and internecine wars between
capitalists and further ballooning artificial poverty . Isaiah Berlin
commenting in ‘Isaiah Berlin : The Utopian Socialism ’noted ‘‘Fourier ’s
indictment is the prototype of all later attacks on the doctrine of unchecked
laissez faire ,of the great denunciations of Marx , and Carlyle , of Daumier ’s
cartoons and Buchner’s plays ,no less than a communist ,fascist and Christian
protests against the substitution of new forms of privilege for old and against
the enslavement of the individual by the very machinery designed to set him
free. ’’ When Charles X was expelled during the revolution of 1830s bringing
the Louis Philippe to the throne of France ,socialism gained impetus once more
reviving literary revolution .
A tireless
succession of books and media freedom attacked social evils of the day and
proliferated remedies .The Lamar tine or Cremieux softly liberal proposals ,and
the developed state capitalist model expounded by Louis Blanc and
semi-radicalist demand of Ledru Rollin or Marast .Blanqui and Barbes also
proposed drastic socialist policy using their journal L’homme Libre endorsing
abolition of private property or violent eruptions . Apart from Pecquer , Blanc
and Dezami , other scholars , who followed closely either popularized ,altered
and diluted their original thoughts and doctrines. With his Christian socialist
‘words of a believer ’Lamais --a catholic priest in 1834 , published his
revolutionary ideas .Also In 1845 , the ‘Bible of Freedom’ appeared and was
circulated by Abbe constant . Fourier ’ s disciple –Consider ant also gained
popular appeal when he supported and declared in favor of the abolition of
private property .
They
lasted for a quite a while and later evanesced as a movement especially the
Saint Simonists .Unfortunately, they later became the same
capitalists,--railway magnates , rentiers whom they had lived for all time to
preach against .The previous gains of ideological freedom nosedived in to
obscurity as intellectual freedom developed volatility. Sharing and suffering
the same fate as the Marxists .Can you imagine ? That is the power of lucre .
They lived only to fulfill at least one out of their master ’s prophecy .
Communist settlement was funded by the fourierists in America like the Oneida
community that attracted popular American thinkers. They could not sustain the
tempo and pressure in the defence of what they believed like the Capitalists
.Time pressure was against them –an advantage that the capitalists had
exploited to the full altering the forms of the society as they deem fit .The
capitalists and the merchants after the overthrown of feudal lords were able to
exploit not only the gains of intellectual freedom but its proven merit of
better standard of living derived from the fruit of technology , tested and
applied to advance the course of capitalist prosperity .The socialists who
promised universal prosperity-a far better alternative have fallen far behind
.Most especially , the socialists have been seduced by lucre, and according to
V.Lenin , have sold themselves to the capitalists think not of the future of
their children or grandchildren but they themselves.
MARXIST
SOCIALISTS VS .UTOPIAN SOCIALISTS
We know
that the original pre-Marx Socialists and original pre-Bismarckian nationalists
were conciliatory , peaceful ,evolutionary , pacifist and tolerant in the great
liberal tradition .Robert Owen , Fourier and the rest were derogatorily
regarded as utopian by Marxist socialists .They were so labeled because in
binging about peaceful change without class war such as the Scandinavian
socialist reforms .That they need not sacrifice civil liberties to get the job
done . The pre bismarckian nationalists like Herder [1744-1803] in Germany and
Mazini [1805-1872] prominent in Italy .And like their historical brethren
failed woefully in the revolution of 1848 .
This
failure erupted the iron and blood nationalism preached later by Bismarckian
and Marxist socialists ,opening a new vista in modern history .The so called
Machiavellian was nothing new but not until 1870s was it systematized
effectively and never before the age of Stalin and Hitler was it practiced with
such ferocity and coordination never seen before in mortal history .The iron
and blood nationalism that followed after 1870s culminated in Nazi Germany and
fascist Italy and also led to Soviet Russia advancing iron curtain from Europe
to Asia. It instigated like social Darwinists both world wars and global crisis
.In the great words of Cavour who accomplished Italian revolution ‘‘if we did
to ourselves what we do to our country what a rascal would we be ’’
SOLUTION
TO WORLD ECONOMIC CRISIS : A NEW DAWN
Rethinking
Marx and reforming Marx is the way forwards for a nation ready to develop or in
love with this revolutionary idea .That is why I have taken my time to advance
neomarxist free market economy , dual or meta-macroeconomics and neomarxism
respectively for Nigeria .I briefly appraised them in my books. I wonder what
the fate of Nigeria would be if according to Madunagu, it is the BEST option
for Nigeria .I believe we are in Neomarxist Era - not neoliberal era and the
world economy if adopted will swing from neomarxism to post Marxism as humanity
transit from modern age to golden age civilization . The ideals of neoliberal
as may be relevant and neomarxism can be merged to create neomarxist free
market as sole alternative to conquer world poverty .There is no alternative
for both developed and developing countries .This I believed if adopted ,
Nigeria can grow quickly and we can do in 5 years what could have taken
10-15years to achieve under normal circumstances . We can begin with this
platform and then leveraged subsequent unique models as entrenched in this
package to usher in universal prosperity for nations that adopted it .Nigeria
’s problem today is lack of development ideology and not corruption or
mismanagement as such which is secondary factor .We are in new dawn we must
change our mentality and prepare for the adoption .
BLOGER’S
DIRECTION
Not many
know that the essence of this blog is to advance the concept and practice of
microfinance which is the centerpiece of neomarxist free market economy and
neomarxism.It basically deals with strategic impact of the microfinance
industry worldwide especially Africa which is to be by content , 60-70 percent
for microfinance and 30-40 percent for general economic analysis .Though I
posted the African Dilemma –a political essays , this original direction will
remain .
It is
sometimes expedient for consideration of general economic analysis to be
exploited to better align them to dire need of microfinance in an economy .It
is by this initiatives that we can weigh its utmost important and optimal
effect in economic planning and nation building .References and exposition of
macroeconomic models are also needed to compare with the new solution being
proffered. It places more emphasis on the fact that foibles in the mainstream
formal financial system cannot be resolved without reference to common men to
be served by microfinance being the economy of the poor .
Our
special reports , interviews and related articles dwell on this axiom We must
assess the role of microfinance in poverty alleviation , grass root
productivity , microindustrialisation and self empowerment and how relevant are
the effect of government policies to their yearnings and plight .Microfinance
through its unique free market model would be the beginning of a new dawn in
mortal history and the battle to eradicate mass poverty is more than real with
this micro financial model. We proffer solution therefore to world
macroeconomic problems which I believe cannot be solved unless micro financial
macroeconomics model is adopted .
CHAPTER-- OUR GOLDEN DESTINY
The destiny of the nation lies in
the hands of its people .The reproach of a nation is the abuse of the
destiny of its people and a sacrilege to the sworn oath and dignity of human
existence .Therefore the glory of man is the fulfillment of his destiny –the
very dignity of human existence .It is pointblank to believe destiny can
never be betrayed ,hindered,delayed and defaulted once discovered .Similarly it
cannot be disputed that the very solubility of hardy climate lies in the
fulfillment of destiny and the maintenance of the integrity of destiny .It is a
poisoned chalice to believe so otherwise .
Everyone has a lot to offer in life
and a slot granted in life to every human persons and that slot is the destiny
of man –the very start and star in every man without which a man is
useless and life completely meaningless. Take it or leave it –that is the
gospel truth .Why then are many suffocated and their stars meant for stardom
sinking and destined ,primed and timed or computerized to fail? So it is simple
and can be linked to a slot not discovered making it a wasted life
and unprofitable lifetime.What is the profit of a man if a life he lived is a
meaningless debris and for every meaningless life a lot more potentially
precious souls are dragged into similar mud –a bad deterrent for good mores .To
use our slot more effectively is to live by example and be a luminary for the
gullible human persons in our society .
We are not what we are ,we are not
what we are supposed to be until this slot has been uncovered and what we ought
to be is what we are supposed to be once the slot is uncovered .Am I using my
slot ?Are you using your slot ?I doubt we are ;for if we do ,the world would
have been a better place long ,long long ago .It is pretty dismal that the
world has come crashing down this way and opportunity bracket sinking in an
alarming increase in the population of shambolic lifetime- trends.We are
brought down to this lowest ebb as a result of this missing link-our inability
to uncover our slots talk less of paying its cumulative debt and assuming
the roles and responsibilities granted by mothernature to every homosapien in
their own generation .Taking up this responsibility having identified them
indicates erosion and stagnation of this missing link ,giving us
opportunity to fully harness our hidden golden destiny .Now let’s move
on-to take up the slot is as uncovering your purpose or discovering your
destiny .It ‘s pretty simple.
Truly destined souls are
spellbound,spendthrift-less and bombastic elements of a stickler .They are
enthused by the discovery of their identity so to say colloquially . As the
very star and the glory of man that many failed to uncover ,it cannot be hidden
however from those who know its optimal value .Once you get hold of that
ambition and vision ,you are not far away ,soaking your burning cheeks
for fiery dreams . This is possible only when you discover your destiny .It is
the very essence of mankind .Our human value is equivalent to this
discovery upon which we can affordably and prestigiously over time grow our
self esteem .Otherwise building up self esteem without this platform amounts to
self –fluke and a perennially derogatory human dignity. In this context true
identity that is possible only here is equiproportional to the integrity of
human person and the very glory of mankind .
Our destiny speaks volume about the
integrity of our nation and the very goodwill of the people and the way
we go about achieving them .We are planted as earthlings to discover our
purpose and the purpose lies in our ability to uncover our stars –discover
our destinies .To raise our capability with it and to begin the mission having
formulated our goals and objectives and the vision and mission statement in
addition to ambition needed to support the ministry that is saddled with the
responsibility of belaboring the tasky voyage and mission into
fulfillment .
The discovery of destiny is the very
or most practical step to achieve our goals in life.Infact ,a far greater
horde of challenge is our ability to nurture them through the twist and turns
of hardy climate. That requires functional passion , enthusiasm and
abiding faith and a host of core values that can stand the test of time and
strengthen our hold and golden resolve .We are all in the ministry and race of
meaningful existence and failure belongs to those who fail to realize their
true essence in life .The main catalyst of a successful ministry and the
purpose of pursuit deployed in the actualization of this destiny in summary is
the level of faith exuded in the mission .Its vivacity is the very breath
of destiny and is quite an uphill task when compared to the discovery of our
golden destiny and what we are meant to do ,what we stand for and
what we can do with quintessential resources at our disposal and
boundless potentials credited us as per capital as earthlings .Those who
underestimate its potentials often die out at this 3rd state
.The first state requires a sharp acumen to discover our
purpose-our very identity as a people .The second stage mobilizes
all resources at our disposal to achieve it .
Most visions and ambitions tied to
destinies die out a natural death at this stage .Now , let’s move to
third stage .It may not be easy to climb this success ladder and often a
challenge for successful people and very difficult to maintain such status or
what they have achieved .Managing corporate stardom identity-their very
trademark is often a challenge-a big shoe that the poor cannot wear .It
takes a lot of not just hard work but smart work to stay on top of the ladder
.The third stage requires radical adoption of maintenance and survival strategy
–MSS].Those who hardly maintain their stand on top of the ladder are tormented
rather by MSS Setback Syndrome –MASSY ].Understanding these stages
and their psychosocio-ecological importance in the life of
every pursuit artist would go along way to help man devise easy-get-away
strategy that helps aid climbing of the ladder and the maintenance of the top
status without blinking an eye or spinning head on a vertigo .In this way
, they are sure of battling the syndrome to a standstill.
In some of my motivational tips ,we
share and touch the first two stages ,here we touch the last stage and what we
can do to stay on top .Since it requires only three steps to get to the
top ,the fourth ladder include or the head –the top of the ladder
requires the extra-competence for the serving artists .It is necessary to
observe that a given knowledge bandwidth or a set of ideologues deployed
including targets,action plans and vision and mission statements
and used in the first stages ought to be expunged for the convergence of new
ideologues and core values to help successful artist fight the syndrome
.Anything short or less gives less upper hand drive down competence
of the artist in question . Is the same as saying priorities and plans change
as artist grows on the ladder .
This newer set of ideologues
and vision of survival should be more than competitive and which requires more
than competitive benchmark to maintain lead .That means -If you are
or your competitor or next competitors operating in the same industry
set a new target and you are aware or knew it is a fact I think selling
higher target is the key. But what if other competitors find out ,they might be
forced by the same pride in you to increase or raise their target .Sure
,but once you know that it is important to set two or three targets and
make the first but least of the new target public that make it publicly
low if possible even below that of your competitors and make the
remnants private but with higher targets and known only to you .In this way you
can stay above the competition and can become your most powerful trade
secret.How do you get data or information from other competitors in the
industry for you to set those higher , hidden ,thorough and convincing
targets ?This requires deep competitors’ and competitive intelligence
Another way to battle MSS
Syndrome is to be competitive and keep raising your capability to the
limit .Already this is common among successful artists ,businesses and
determined people in general .But with a caveat to discover more unusual
technologies taking the industry by storm and surprise to competitors
,introducing cutting edge products to outmaneuver
competitors that would take years for them to catch up .In the
business and great commerce of artistic capacity building ,
winning strategies cannot be shortchanged for anything .The maintenance of
waning competencies in a survival led strategy enterprise that is also
poised to battle the syndrome
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