In ancient western Africa, small decorative glass beads were used as currency and were highly valued. When European explorers arrived in the 16th century, they realized they could mass-produce counterfeit Agri beads using their advanced glass-making technology. They traded these fake beads with Africans, robbing them of wealth and resources, eventually leading to impoverishment and enslavement. This historical event can be compared to the actions of central banks like the U.S. Federal Reserve, which creates money at almost no cost and distributes it unfairly to big bankers, bureaucrats, and big businesses.
A sad and unfortunate time in human history
A sad and unfortunate time in human history has been repeating itself over the past few decades in ancient western Africa. During this time, small decorative glass beads called Agri beads were used as a form of currency. These beads were scarce and highly valued by locals.
European explorers and the mass production of counterfeit Agri beads
However, when European explorers arrived in the 16th century, they realized they could utilize their advanced glass-making technology to mass produce counterfeit Agri beads. These explorers saw an opportunity to trade these counterfeit beads for goods and services from the African regions, effectively robbing Africans of their wealth and resources over time. This eventually led to the impoverishment and enslavement of African people.
Parallels with the actions of central banks
In modern times, we can draw parallels between this historical event and the actions of central banks, such as the U.S Federal Reserve. These central banks have the power to create more money at a near-zero cost whenever they want. However, instead of distributing it in a fair and equal manner, they often allocate it unfairly to big bankers, bureaucrats, and big businesses.
Just as the European explorers exploited the scarcity and value of the Agri beads for their own gain, central banks manipulate the value of money and use it to benefit a select few. This unequal distribution of money and resources can lead to a similar outcome of impoverishment and oppression for certain groups of people.
It is important to recognize these historical and modern parallels in order to address the systemic issues that perpetuate inequality and unfair wealth distribution. By understanding the consequences of such actions, we can work towards a more equitable and just society for all.