The Presidential Manifesto to the Nigerian People.
Tuesday February 12, 2019

Dear Brothers, sisters, fathers and mothers it is not news to you that I will be running for President at the later part of this year. I do not come here to talk using sophistic ideologies to persuade you to elect to become the next Nigerian President, but am here to share with you my investigation and solution into the root cause of the Nigerian Problem and the world as a whole.

Man for centuries have being competitive, violent, greedy, brutal, acquisitive. And with all the misery, destructive brutality, depravity in the world we live in today, man has built a society. I hope to bring about a “radical revolution” in your mind, because it is a crisis in consciousness. That cannot accept the old norms, the ancient tradition, we for one community as Nigerians need to look into this matter I speak of then consider and most importantly leave the hall with a choice as to whether to accept my ideology or remain the way you used to live. It is your choice.

I will highlight the problems we face now, then address solutions to these problems, which I and my team desire to implement, for the betterment of my country, its people and the world.
Our society today is made up of several institutions, the political institution, educational institution, religious institutions, institutions of familiar values, to name a few. The most misunderstood of our establishment is the financial institution. How money is created, the process it’s being governed, are unregistered matters to the majority of the populace. As sad as it might be, seemingly economic jargons, “coupled with intimidating mathematical statistics” quickly deters people from looking into the process. However, the financial analytical process is a “mere mask” covering the most paralyzing structure humanity as ever condoled.

There is a saying by Jon, a central banker in 17th century Europe, he says, “There is no one hopelessly enslaved, than those who falsely believe they are free”. Whether we like it or not, money is the life blood of the dozens of institution we have in society today. Therefore, understanding money helps us to understand how our lives have become. Central banking has been in practice in our country after the colonial masters came and made us civilized. The Federal Reserve of the United States, the biggest private corporation of our time, institutionalized this Central Bank practice World Wide, in which Nigeria which sees no other model to advocate, adopted as well.

A book titled, Modern Money Mechanics, documents this institutionalized money creation cycle like this. In the opening page where am reading goes thus, “the purpose of this booklet is to explain the “fractional reserve” money-loan cycle creation. With the use of various banking terminologies, the result goes like this; the United States government needs say a sum of say $10 Billion in the form of loans. What the government does is draw some pieces of paper called “government bonds” and designates it to the sum of 10 Billion. Then the Federal Reserve (I mean the central bank) draws another pieces of paper only to call them Federal Reserve Notes, and designates it also to the sum of $10 Billion (USD). Then sends it to the SPED (the medium of exchange). Once the exchange is made, $10 Billion the new money is created in the economy.

Of course, this could now be done electronically and the use of hard liquidity (cash) may not be used. Now, $10 Billion is created, and then the borrower (the U.S government) must probably deposit the money in a commercial bank.Money is technically an instrument of debt, for no money could be created if the Government (borrower) never requested for it in the first place, therefore they are promising to repay the loans. Going back to the money creation cycle book, Modern Money Mechanics, it states, “the minimum level of credit (money) to the total deposit in the fractional banking system is 10%”, therefore, 10% of $10 Billion is kept as the minimum requirement, and the remaining “excessive reserve” ($9 Billion) could be used as a basis for new loans. Now it is understandable my people, that you think $9 Billion is originally removed from the existing $10 Billion the government loaned from the bank. But this is not the case, for in the Modern Money Mechanics booklet, it states, “when loans are made, what the bank does is to receive promissory notes (loan contracts, in form of maybe the house you put down) in exchange for credits (money) into the borrowers transaction. The total amount of credit in the bank remains unchanged, for if they did this, no additional money would be created”.

In other words, the new money created is $9 Billion to the addition of the original $10 Billion making the total of $19 Billion, simply because the bank meets the reserve requirement and also because there is a demand for such a loan. Now, money is created out of debt, because the original borrower (the government) is promising to repay the debt, so is the new guy that loaned the new money in the commercial bank. Another man comes to loan money in the new bank money is deposited. And the process repeats itself, from the $9 Billion, 10 percent is isolated, and the remaining is also the basis of new loans without affecting the total deposit in the bank. My economics professor in my college those days told us this while I was in the American University, and banking executives know this too. In the theoretical sense, about 9 times the amount created, through the fractional reserve system which the Nigerian Central Bank practice, can be created “out of thin air”.

And when I watch politicians and their Central Bank governors come on national TV, like NTA and say, they will control inflation. I always look perplexed. For the monetary expansion in wide practice today is “self-inflationary”. Because regardless of whether there is a proportionate amount of goods and services, money is expanded, thereby debasing the value of a currency. Here is the amount of annual GDP in the Nigerian Economy since 1960-2000, here is the amount of debt at the time. How interesting that the graphs look so similar. My people, I must say to you today, that inflation is “a hidden tax on the public”. And as people randomly spend money through commerce, people detach themselves from the reality. For they must always submit to employment, to pay the existing debts they owe or perhaps feed their family. Ancient slavery involves people to be housed and be feed, economic slavery involves you to feed and house yourself.

But however, it would be unfair for me not to mention the most paralyzing element in this money creation cycle, and it is this that reflects the true fraudulent nature of the scam and that is the application of – “interest”. For every time you go to a bank to loan money, you must also pay “a crude amount of interest”. My question is, if all the money created in the economy is from the Central Bank, then expanded through the commercial banks, the total money in circulation is just the “principle”, where then will the “interest+principle” come from? My answer nowhere, it doesn’t exist! The banks must continue to push money into the system if people need to pay the interest, with more loans, therefore, defaults and bankruptcy is built into the system. The game is just as that of a musical chair, once the music stops, one person is left to get the short end of the stick, that is goes bankrupt. For if money can only be created through debt, how can society be ever debt free? It can't. And that's the point.

A Minnesota court, of a man “Deron Dale” filed a law suit against a bank in Minnesota in 1960. His argument was that the money he borrowed from the bank was counterfeit because it takes a form of “consideration” for the basis of any agreement. He said he had a legitimate property (his house) while the bank put nothing of its own except a theoretical liability on paper (that is the money they newly created) therefore, voids the contract and the legitimacy to repay. As the court case progressed, the Judge said: “Mr. Plantiff (Bank’s President) agreed that the money was created in the bank, and had no property of its own in this transaction. Mr. Plantiff admitted that no law in the United States gave him any right to do this. The Jury has found and therefore concluded that Dale kept his home. It is only God that can create something out of value from nothing”.

The implication of this case is enormous, for every money loaned from the bank has no legitimacy, therefore, voids the essence of repay. While many are oblivious of this realization, running on their hamster wheels and submitting to unwanted jobs, and racing to keep up with the raising price due to inflation coupled with the interest rates that can never be repaid. Keeps the wage slave in line. For Mr. Maurice who are you really working for? The Banks, money is created in the bank, and ends up in the Banks. They are the true masters, along with the corporations they support. It is the most ingenious scam ever created for social manipulation, and has become a faith oriented perspective of each and every individual in the country, and around the world.

While Central Banks have succeeded in forcing people of pay for their cost of living, the World Bank and IMF are doing so on an international scale. What you need to know my brothers is that the World Bank is in fact a U.S bank, for the U.S holds veto power over its proceedings because U.S has the highest revenue allocated to the institution. And where did the United States get the money to do this?, you guessed it, it created it "out of thin air" through the fractional reserve banking system. The World Bank projects as of 2006, the U.S House of Congress even admits that its success around the world is about 40%. In fact, my beloved citizens, this is a biased percentage success. Since the 1970s in Ecuador, during this period known euphemistically as the Oil Boom, the official poverty level grew from 50 to 70 percent, under- or unemployment increased from 15 to 70 percent, and public debt increased from $240 million to $16 billion. Meanwhile, the share of national resources allocated to the poorest segments of the population declined from 20 to 6 percent. Third world debt has grown more than $2.5 trillion, and cost of servicing it—over $375 billion per year as of 2004—is more than all third world spending on health, education, and twenty times what developing countries receive annually on foreign aid.

Over half of the people in the world as of 2007 live below two dollars a day. Meanwhile, the top 1 percent of third world households accounts for 70 to 90 percent of all private financial wealth and real estate ownership in their country. So what has the World Bank or IMF achieved that you see our Generals of old, I mean Ibrahim Babagnida, who was blindly persuaded due to his indiscretion or abject wickedness for my country to enslave the nation into debt. Woe be this man! Allah curses him wherever he may be, and I curse him too. Such are those who buy the life of the world, at the price of the hereafter. “A miserable trade indeed”. That’s the word of Allah. Am sorry but I use Allah and God interchangeable, the first in when am describing my mode of belief, and the latter when I speak the general terms of Divinity. Never mind my rhetoric, but pay close attention to what I say.

Our oil has done no good to the average Nigerian citizen, it has only created an avenue to profit big corporations like Shell, Chevron or Texaco, and perhaps men at the high places of business and politics. What has it done for you personally, I never received a scholarship from oil, and neither did my children. Let me tell you the truth, the so called Nigerian Leaders who cry that Nigeria has fall short of oil production in the 2000s due to illegal oil bunker are just after their pockets. Besides, the few industrial parks, hospitals and facilities such as roads, these oil companies may have constructed, for the very rich to benefit from, you will not benefit if you’re just average or poor. They have polluted our lands, brought corruption into the hearts and minds of Nigerians that the only way to prosperity is to sell oil cheap to them, in debt the country by receiving funds to build them industries and keep the poor starving. The banks in Nigeria are no different, they charge interest rates as high as high 25-31% on businesses, how can a nation grow this way? Of course, you must be a comedian to think so. For young entrepreneurs cannot survive this way, and if they would, they will have to be ruthless.

Nigeria is not a democracy, and there is hardly any country that you can call a true democracy. For most of the politicians serve the financially wealthy, does it not seem surprising to you to see that when elections comes close, you see few men with seemingly broad views about their roles in the political strata coming to run as president? It must be a joke, for most of them come to serve the existing structures put in place. So thinking, that a politician who promises of a “7 point agenda” used as a propaganda warfare on the people to really make any changes in the political reign is really untrue. To come back to my main point, which is the thesis of my manifesto today, “money is the root cause of our un-development, misery and suffering in Nigeria” therefore, the model I wish to advocate if elected into power, or put in place would be to frustrate the financially wealthy who use money to enslave people, and liberate the people into a radical revolution within the mind, that our country could become a super power of its own in Africa, advocate a new economic model that serves everyone, and help other countries to reach this status as well.

When a country like Nigeria is faced by debts that can never be repaid, the following is often advocated to pay off its debt or face economic collapse. First, “devaluation of the currency”, when the currency such as Naira is devalued, the price of everything within it falls. Naira was about N25 to $1 USD in the early 90s, it was about N180 to $1USD by 2009, that is a 620% devaluation. What this means is that predatory countries can buy as much as they want here regardless of what it’s true value is. Second, “privatization” of government institutions, it is very sad that we cannot even have just a single refinery to process our oil; rather we export the crude oil in exchange for the refined, very sad. Since the oil sector is privatized, series of abuses and over-exploitation is guaranteed. It often makes me grieve to hear economists, on television say, the privatization of our oil, telecommunication and air transport systems is to the best interest of Nigeria. It is not! And would never be, using rhetoric to convince people on what it is not! And I most probably think that these economists are saying this to receive the petro-dollar from the Nigerian government, or the Oil companies. Can’t you see selling yourselves would only give those who do this a short term profit but long term abuse of labors by private corporations?!

Three, “free trade liberalization”, Nigeria and its government are so naïve to the broad results of this mystical free capitalist system. I would come to that soon. What the free trade that opens its borders does to a creped economy like Nigeria is that big corporations can bring in their own goods which at times is better and cheaper, but at the long run does not much good to the people. Leaving the indigenous producer out of market, for he is unable to compete. An example is Jamaica, Jamaica lost its cash crop business due to the free trade agreement signed in order to pay off its debt. Leaving the farmers un-cartered for and destroying the already impoverished nation. Another is the use of “seemingly, unnoticed, unregulated swear shop factories” with citizens working there, compromising their well-being with very little salaries and depriving them of quality education.

Now, the most popular of all the monetary system governmental practices is the “Free Capitalist system”. Capitalist America is no more capitalistic than Communist China. The only difference is the degree at which the state intervenes. So Communism, Socialism, Capitalism, Fascism are all but inventions. The true system men have embraced in our world today is “Monetarism” for it is money that determines who will get a product or who will not. Now let me point to you that industries, businesses, do not care about you. They are only established with one main philosophy, to “maximize profit regardless of the social and environmental cost”. So if you still think companies care about you, you probably don’t get the logic. If they cared, why do they lay off workers if automated systems are developed, to lower the cost and even do the jobs better? People, would see this as “well that’s just the way it is”. Not seeing the corruption and greed involved in such actions, for dumping toxic wastes on the farms in Niger Delta to save the cost of proper disposition of waste, laying out workers because machines can do it and lessen cost is by necessity a way to make profit. Therefore, corruption is not a byproduct of “Monetarism”, in fact, it is the basis of its foundation.

A company in the United States through MSNBC dumped medicines inflected with the AIDs virus into Europe, Latin America, and Asia in 2002. This was due to the fact that it couldn’t afford to destroy the medicine considering the production cost, and its need to maximize profit. You cannot be ethical in the monetary system; a guy comes to you and says I have the house you’re looking for; of course he’s a sales man. If someone comes to you and say, I have a jug in my shop but the jug next door looks better, he wouldn’t be in business for long. Your doctor says to you that you need to take some medicines and be admitted for examinations for over 3 months, you can’t tell if he is using a “test medicine” on you to report to the pharmaceutical company producing that medicine, in exchange for money, and using you for tests. Therefore, businesses cannot be after the people’s well-being, your well-being is secondary, while their profit comes first.

What is the motive that you expect companies who seek your well-being to be? Is it “Sustainability”? Of course not, if industries seek sustainability there would be no need to have a millionaire dollar car servicing industry for automobiles, is it “Abundance”, of course not, the law of scarcity states that abundant resources diminishes price value of a commodity. Diamonds are burnt in South Africa to carbon to maintain the price; abundance is an enemy of profit. Because air is in much abundance that selling it would be meaningless, that’s why you have not being taxed for the air you breathe, it’s because it can’t be confined by government and private profit making institutions. Is it “Efficiency”, no, automobiles use gas to run producing pollution to the environment. Your electronic devices would not be obsolete after 3 months of its production if efficiency is the watch word of industries operating in Nigeria or elsewhere.

The guiding principles of any institution such as our industry is “self-preservation”, in the advanced world, the last thing the oil industry wants is the use of motor utilities that would be out of its reach, for it would make the industry less relevant to society. Electric vehicles could take the place of gas-fueled vehicles, but the gigantic oil industry would do all its best to render such technological advancement fail. This is corruption, pulling back technology because of the profit enterprise. Nigeria as a nation as failed to even equip itself in the modern world with infrastructure, and when people who have sincere motives after several years of plans to transform the country while using the monetary system, corrupt politicians whose Allah’s curse be on would go and give the impoverished populace money to vote them in. The people forget the sincere people who promise them good and follow their corrupt politicians. What I fail to understand is how money seems to be the only source of satisfaction people incline their hearts to. For what is money, save pieces of paper, that has no true value except with people that think so?

Men of true virtue and knowledge who contributed to the well-being of society namely, Newton, Al-Kindi, Galileo never sort their self-interest or be rewarded by people as in money to transform lives. There is no man on Michael Hart’s, 100 Most influential persons in history, that worked for money or profit from men (Fallacious argument spotted, please correct to "most" . What men like Adams Smith, the father of the free market enterprise preached, that incentives gives the ability of self-interest and competition further enhances the well-being of society is thus refuted. Because, Adams Smith failed to mention how “self-interest and competition” leads to systemic greed, corruption, technological paralysis, labor abuse, wealth consolidation in the hands of few rich men, unfair competition, loss of integrity, social stratification, and finally loss of spiritual oversight.

Things are getting tougher and tougher by the day, do you people think that's the way your lives should be?

I do not want to talk any longer on the problems we have using money as the basis of our lives today, because I can write a whole book on that. I remember when I was about 20, telling my friends that if I ran for president in my country, I probably make calls within my country free. I laid down my objectives and how it would thus be implement, they cried, “how will you do it? Don’t you realize that the telecommunication companies would go bankrupt; don’t you think you will render many impoverished people using the then “GSM booth” hungry?” People of Nigeria, it’s not that I never thought of this, or the consequences and challenges we may encounter by doing so. First, the very wealthy with the exception of my own father would use all forms of propaganda to suede an opposition, calling me ludicrous or something more insulting. They would not like people to talk at long distances with other people for free, my logic is that since I do not use money to talk to you now in this hall, why should I because am talking at long distance? Could it be that telephone was invented because corporations had to make money, but not solely for your convenience? The man who invented the telephone was not interested in money either, if he had had the incentive to withhold the rights that no one may use it as a private money gain, then things would have turned out differently. But I tell you he never made any money for he's invention. The rich would not also like people to have exactly what they have for food, or what makes them classify themselves “special beings on mother earth”, they would not like that—and I realize.

My men, who we tend working this model we call the “Resource Based Economy”, in which am an advocate of the “Islamic Resource Based Economy” are men who have devoted their lives to changing Nigeria, and the World as a whole. We don’t say our model is perfect, but we use a workable view to assert our belief on how the world should be governed. God has often advocated in the Koran and most probable in the Holy Bible that man should not work seeking worldly benefits from people, but seek to help his environment to be rewarded by Him in this world and the afterlife. What many people lack, am sorry to say this is that love from within the heart, that mechanism of helping unconditionally. I do not say am the holiness man on earth, for God knows best who holy is, but all through my life, I do not really ask people for things but rather give it. Not surprisingly, I still do not lack almost anything materially, at least when it comes to the basic necessities of life. Some may say, that because he had a wealthy father, but this is untrue, it’s not because one has a wealthy father or not. It’s simply by taking into preference good works to your material garbage; there is nothing that can motivate you to do such except you have a sole purpose for doing this. I have mine, so do people.

Not to get too personal, lest I lose the main point of my discussion, the Modern Islamic Resource Based Economy, is advocated by me if am chosen President. Am not a liberal minded fellow you accepts or rejects issues based on my personal thought about it. I take into mind, what the issue results to, and how to apply such results on everyone. In a Resource Based Economy, people are taken as the first most important thing after God. I use God in my conviction, because He is the sole motivation in advocating this model to you. Our resources, such as crude oil would be used to improve the lives of everyone in the country. Science and technology is the forefront the economic model, we would practice technological transfer methods that would ensure that young Nigerians get involved in technological fields with the aim of development. We should use natural forms of energy the planet has given us into the production of electricity. The Geothermal Energy, is harvested by water mining beneath the earth, with the exchange of our resources with technological transfer processes, we would have Geothermal Energy. In Nigeria, we can have about 100ZJ of this energy if harvested earnestly, the world we live today only consumes about 0.5 ZJ per year. This is to say, that our power systems with the use of hydro-electricity with the use of turbines is obsolete. And that we could power our country with electricity technically till the last day without the use of dangerous techniques such as the atomic energy the country was thinking of adopting.

Let me point to you, that the earth is powered with different forms of energy that does not need processing, examples are Solar Energy, Tidal Power, Wave current. We have the technology today to use our resources wisely to step ahead in the new age. Agriculture and storage would provide food for everyone, food without seasons. God blessed us a lot to having mangoes, corns, beans only to find ourselves being without some of these foods when the season is out.Economists argue that an increase in food production due to an improved technology, leads to a fall in the price, thus reduces the farmers income. Can you imagine how this is? Abundant food, making them cheap is an ill in the current economic model. Is this what you consider best? Massive technological over scale would use robotic technologies to plant, water, and harvest food crops. The human power involved in the Resource Based Economy would be less than 10 percent.

People tend to think, "what would it be without money? We wouldn't have the incentives to do anything" No, this is untrue, your job is to make your neighbor well accommodated, develop a positive think tank group on the advancement of the nation, worship God, and show love to family and society by good works. There are obviously a lot of things people can do if money fails to exist as the guiding principle.

Roads and houses would be available with state of the art facilities; I intend to demolish 90% of the structures we have today that many call homes. We should have town planning systems that channels gas pipes, internet facilities, fire escape route, clean water, air-conditioning, quality TV broadcast, and telephone to name a few things in every home with routine maintenance practices. Although we must importantly aim at bringing the best, man is still imperfect, thus our creation cannot be as the Creators. We will maintain facilities not to create a maintenance industry. There is nothing wrong in using Platinum one of the world's most durable material to build equipment built by steel in the current monetary economic system. My technology experts from other countries are giving incentives on how our roads would be crash free. What we have today, is bad roads that are full of pot holes. I intend to make roads 5 lanes, to and fro, with automated regulatory systems that enable vehicles to slow down automatically when approaching other vehicles. I’m a computer scientist, and had my masters in robotics, so I know exactly what am talking about. The air plane the world is currently using is obsolete, many engineers whom I have discussed with in the West, are asking me to implement a Maglev train instead of the air transport system in Nigeria. The Maglev train uses a frictionless, motionless tube in a magnetic field for proportion, which can travel in water/sea or channel it's tube above the earth. An organization, ET3 in the United States has being working on this for years, and it’s ready for use. However, as I said earlier, the mechanism of self-preservation would not allow the airliners like the British Airways, or Delta Airlines to be happy about this, neither would Airbus, or Boeing. They would force the governments of their countries to undermine scientific findings or experiments that threaten their institution. The Maglev train can travel at about 3,500 mph that’s over 6,000 kmh.

Hospitals would be built to help people get the right medical attention they need, let me make it clear, my government does not tolerate mediocrity. Doctors or Nurses may be sent back to medical schools, similarly would the so-called engineers, who are only theoretically capable, with no sense of innovation or creativity in practice. Since it’s not all about money, the country would be run based on its resource. Hospitals with automated machines to operate on patients or administer drugs would be deeply appreciated. Medicine has become technologically advanced that the use of nano and pico-technology to gain high level results is feasible.

We hope to eradicate many people’s jobs in the Islamic Resource Based Economy freeing people to servitude to men, but servants to God Himself. Jobs like marketing or advertising, accounting, and so on would be obsolete. Technology and Arts would be the basis or our development and superficial beauty or decoration respectively. I must say am religious, and that per chance people may consider the Islamic Model from a perspective, the goal may be achieved. From the very carpenter who works and create furniture in your house, to the glossary stores which many feel deprived from getting food from, these jobs would be created by the use of human ingenuity (technology) with quality matching anything you will have in an advanced world. The people who can make this work is you, I do not pretend to know all for I learn new things as you learn, but am sure you will reason along with me, that the only way we can truly move ahead is changing ourselves individually. And also by allowing the one who has this vision to put it in practice by taking the stage as someone who represents the people, the Nigerians, humanity and the world as a whole. To understand our ways of thinking, and ways we wish our goals be established besides the theory, Jacque Fresco would tell you something.

We as humans represent a symbiotic structure, love and understanding is what would eradicate hate, racial or tribal differences, jealousy, greed, to name a few. It is not in the human nature to be greedy or acquisitive it is a human behavior. Human behavior is subject to change by reforms, by environmental conditioning, and by a change in objective. So what we have talked about is up to you. It’s left to you to live a life of servitude to men, or look the other way. There is no master, no guru, no teacher; you’re the master, the guru, the teacher, the driver. I have made this speech that it might affect you, and bring to your mind a radical revolution, to change the pattern of our situation, to boycott the establishments that cause and create this man-made scarcity. And liberate our people from bondages tied up by men, to prosperity granted by God.

As I conclude, some may consider this irrational or even having a terrorist undertone, but in fact it is not, we must develop a true economic order to the world by massive revolts and protests against those that annex human wealth and must insert a universal fair treatment for all. Expand the infrastructure of the entire world through the Modern Islamic Resource Economic based model. No longer can we live in a self centered modality that breeds man for contempt for his fellow man, we must learn to reward innovation but balance the uneven tendencies of wealth and power by inserting universal principles that can develop quality life for all against systems that oppress the majority and only reward the rich. The recent economic meltdown creates the opportunity to work a viable alternative and to come to the truth—that is the Message of Allah your Creator, as perceived by the men of divine understanding that are so few in number today.

Thank you
Femi Salawudeen
Length of Speech: 3 hours 45 minutes.
On National Television
Assembly Hall

Food for thought bro. There are various things to analyse from the piece

Didnt really understand your concept of money eradication vis a vis islamic resource based economy??

Fancy a chat with u whats your email bro?

yeah,[email] femisalawudeen@yahoo.co.uk[/email]

Am online

Poster u are waisting ur time wit such write up.
nigerian politician dont read write ups.

pls if u really want 2 change things- go and collect PDP membership card.mk u follow dem de do the wuruwuru.
may b that will help 4 a start.