Saturday, July 1, 2023

France has the fourth largest gold reserves, 2.436 tons without a single gold mine in France.

 Yes, it is true that France has the fourth largest gold reserves in the world, even though it does not have any gold mines in its territory. This is because France has a long history of colonialism and imperialism, and it has extracted vast amounts of wealth from its former colonies, including gold.

Mali is one of France's former colonies, and it has a significant amount of gold reserves. However, these reserves are not held in Mali's banks, but rather in the French central bank. This is because Mali is part of the CFA franc zone, which is a currency union that is controlled by France.

The CFA franc zone is a controversial economic system, and it has been accused of being a form of neocolonialism. Critics argue that the CFA franc zone keeps Mali and other former French colonies economically dependent on France, and that it prevents them from developing their own economies.

The fact that France has the fourth largest gold reserves in the world, while Mali does not have any gold reserves in its banks, is a stark reminder of the legacy of colonialism and imperialism. It is also a reminder of the economic inequality that exists between the Global North and the Global South.


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