“the proposed regional monetary union is the ultimate antidote against inflation in member states.” ….The Secretary General of the East African Community (EAC), Ambassador Juma Mwapachu
As we write the US dollar to the Kenya shilling is One Dollar to 85 Kenya shillings .This has spurred inflation in just 2 weeks , in light of the high fuel prices just being caused by little Libya .Uganda and Tanzania are also experiencing the same.Yet this is the death of the Old Economic Order and birth of the new Economic Order.
This death is marked by the Death of the US Dollar. From the above quote one can see what the Elites plan to to do with the Global Hyper inflation …Create New Regional Monetary Unions.
Yet how can you curb what you do not control ?The fact that the world is pegged on the US dollar is enough justification for an American collapse to mean a Global Collapse.
Thus America should be prepared to for a NAFTA marriage or face destruction because the plan is to kill dollar and tame the inflation through monetary unions.
However HISTORY REPEATS ITSELF BECAUSE MAN KEEPS ON DOING THE SAME THINGS.The Monetary Unions will not stop greed but will enhance it and another collapse will surely come , if the Lord tarries , when the new monetary systems crash because of the same reasons crashing today’s system..GREED AND LIES AND THEFT.
So the fact is East African countries have been buying Chinese dollar assets being sold to them at a discount thus sharing the burden of Global US Inspired Debt.
Meanwhile US Treasury of printing money is devaluing its currency is causing prices to go up in East Africa making life very hard very fast.Be prepared for the Global Economic Depression that has been around since 2008 but has now shown its teeth for all to see in 2011.
There are some institutions here in Africa that are gradually refusing the use of US Dollars because having them is not as gainful as having the local currency.
So the Local currency printing presses are up and to cushion the NEW WORLD ORDER ECONOMIC CHANGE IN EAST AFRICA from a Drastic shock , they are going to introduce the East African shilling , but they will not stop their greed and theft which will lead to the stealing of not your property alone but your life.
EAC monetary union to curb inflation http://www.trademarksa.org/print/3292
By tmsa admin
Created 17 January 2011
Submitted by tmsa admin on 17 January 2011
18 January 2011
Dar es Salaam: The Secretary General of the East African Community (EAC), Ambassador Juma Mwapachu, has said the proposed regional monetary union was the ultimate antidote against inflation in member states. Speaking at the inaugural meeting of high level task force to negotiate the proposed East Africa Monetary Union, Ambassador Mwapachu said that integration of the monetary institutions will curb financial crisis in the bloc. “We need to integrate our monetary institutions and create a fortified and more vibrant regional economy immune to outside forces such as global finance meltdown,” he said.
According to the EAC secretary general, price stability within member states can only be achieved through the proposed monetary union.
Arusha is hosting the first ever high level task force meeting towards the establishment of the regional monetary union, whose official negotiation process is scheduled to start from March.
The EA monetary union is the third step after the customs union and the common market protocol. The EA-MU is the process that will see the five EA countries join their economies into both a common regional monetary institution, an East African Central Bank and eventually a single currency.
“Kenya, Uganda and Tanzania used to have a single currency between 1960s and 70s and during that period the economy in the three states was strong and vibrant, a clear indication that things can only be quite as good or even better,” said Mr Mwapachu but did not divulge when that is going to be achieved.
Late last year the Bank of Tanzania (BoT) governor, Prof Benno Ndulu while in Arusha, had revealed that the actual monetary union protocol process will start in 2012.
The EA monetary union is mapped along the European Union model and in fact the EU helped conduct the initial study towards the establishment of the EA-MU, but Ambassador Mwapachu believes the local union show signs that it will be better than the EU.
“No region in the world boasts of such an achievement other than East Africa, but we still need to integrate our economies even more deeply for an effective and more vibrant common market,” he said.
We have all the support needed from relevant parties to carry out a successful single and robust monetary institution, personally I will continue to be watchful even as I complete my term in office by the end of April, this year,” he concluded.