ZZAABB1122 t1_jaauj9u wrote on February 28, 2023 at 2:28 AM

Reply to comment by Vanished_Elephant in Macron flies to Africa to counter waning French influence by HRJafael

You write that

"Additionally (And importantly), France pays interest on deposits by member countries, and at a fixed 0.7% rate, even when actual interest rates on the market were negative. This is a net loss of money for France."

That is a deliberate manipulation from your side, interest rates are usually higher than 0.7%. Most of the time it is not a net loss for France but a net gain. Negative interest rates happen far more rarely than positive interest rate. Currently French long term interest rates is at 2.69%.

And then you have the value of someone depositing money in your bank instead of theirs which gives a higher amount of deposits.

Since you are so obviously manipulating in that comment, one must assume that your whole text is nothing but manipulation and lies.

Vanished_Elephant t1_jabd2lz wrote on February 28, 2023 at 5:03 AM

The minimum rate of 0.75% was set in 2012. And interest rates have been below 1 and close to 0 for the better part of the last decade. Either way I have no horse in this debate. CFA monetary policy is a very complex issue, and France is cooperating in trying to reform it. France has offered to hand over the reserves to the member countries, but the members were not able to agree. Fact is many of the African elites profit from the CFA system and they're not keen on letting go of it. It's a fascinating subject worth of PHd like research with a wide range of variables. Sadly to get back to what I was originally lamenting, Shirvan from the Caspian Report failed to research/mention. Instead painting his video using very black and white brushes.