Sep 13

Giant Ponzi Scheme Report

Tiny West African nation of Benin has been rare success story in continent not full of them.

It has long taken pride in a stable political life, with no military in the streets, a Parliament not in the pocket of the president and a relatively free press.

It has not looked back since a popular uprising effectively overthrew a corrupt military dictatorship 20 years ago, the first such democratic rebellion in post-colonial Africa.

Newspaper kiosks explode with disputatious publications, as yellow-vested drivers of motorcycle-taxis crowd them to read and argue politics. Govt, if not always clean (reported), has at least been more or less freely elected.  Though still stuck in the throes of poverty, it has kept an unusual commitment to political freedom & openness. But now its stability has been shaken, by a massive Ponzi scheme, that seems to have infiltrated almost all aspects of the society.

13 September 2010. By David Caploe PhD, Chief Political Economist, EconomyWatch.com. Read More …  African Success Benin Rocked by Giant Ponzi Scheme

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