Burkina Faso has nationalized its mines and some are angry

but you know I find it interesting so I found this article and it's talking about bukina Faso nationalizing contested gold mines amid legal settlement now the initial post was this right look at this how sad is it that bukina Faso has nationalized Minds before Australia has and this person is definitely in support which is positive which is positive right so there are people who can make a case for privatization and there are people who can make a case for nationalization now let me tell you why it's important that countries like bukina Faso have nationalize some of these resources is because with the with the private sector it has not been beneficial right and that is not an isolated case look at Mali look at ner right neria case is actually even more extreme that they they a country that has some of the least um amount of electricity available to the to households than any other country and yet they are one of the largest producers of uranium right these gold mines what good were they doing for bukina Faso um while the country is in dire poverty what good are they right and some people argue well the the minerals belong to who dug them that argument I've never cared for it at all and here's the reason why there's what I call Strategic resources if there are resources that can actually help the vast majority of the people of that country I personally believe they should be nationalized or partially nationalized because what we have in most countries I'm from Kenya and we have like titanium and things like that right we barely see a dime of that money that money goes to a Canadian company it took the Chinese to build one now there's Revenue coming from titanium and titanium related uh products but before that it was of no use right and this is not an infinite product right this is not like air these products will run out so the people binaso require assistance right now so taking this mine over and nationalizing it is one of the easiest ways to increase the amount of revenue from your own natur natural resources right and I make the same argument for oil I make the same argument for gas the smartest countries have gone ahead and partially or fully nationalized these resources look at countries like Russia these people they make hundreds of of billions of dollars from all these minerals and um and resources and all that money is taken and put into the government um coffers and every time you hear there's like a fire most countries including the United States and most of the world if your house is destroyed by natural disaster you have to wait for your insurance to come and pay it and a lot of times as we have seen even in very rich countries when the disaster is too high the insurance company can refuse to pay and just say they're bankrupt while they have been collecting billions and billions for years so they will take that money that they have in the treasury and they'll use it to rebuild uh people's homes one of the guys was asked I remember in Russia he was asked he's like the minister of like disasters or whatever I think it's emergency services but he was asked hey um is this a wise use of money and he made a very very valid point he said if these people's house remain destroyed these people are not going to work if they don't go to work then we're not producing anything and we're not collecting taxes so by fixing their houses you're actually trying to get them to go back to work early which is the pragmatic position to take right if you've been pragmatic that is the truth that is why you want to spend on your own people because it will benefit you as well we can go towards the moral side and say you're doing that is doing the right thing but you have to divide between morality and governance governance should be purely practical and that means if you educate your people if you give your people resources like electricity and and and you know most of the basic needs that they would need in a modern society you will reap those benefits if you educate your people for instance you'll get experts when you get experts it would be cheaper to basically use your own domestic experts as opposed to importing experts so all these things are beneficial but you have to organize them and I think what bukina Faso and some of these um countries are doing in West Africa is the right thing because right now you need resources a Canadian company or a company forever Nation coming there to dig all your resources and all they pay you back is taxes that doesn't make any sense and most of these people they will push the government not to even pay the taxes that they're supposed to pay right they will bribe people to make sure they pay the list so your country like neria was is like the fourth poorest nation in the world and yet there's all this mining going on all over your country with French troops guarding it and excuse me and your people barely have clean water that does not make sense and this by the way is what partially caused these people to revolt and take over their governments is mainly because of that you're watching your president go going to France and all these countries drinking champagne you know you had the wife of I think it's um the leader of um uh what do you call this country again the country oliv Anga is from uh Gabon his wife was hanging out with Paris Hilton and them and their people are watching this happening and obviously they're not happy because you are having a good time in Europe traveling and dining and whining with all these like rich people and Rich leaders and you're being treated like royalty while your people are in the mud and to make matters worse not only are they in poverty now terrorists are in their country and they're killing these people as these people are going to go or minding their own business going to work or just walking around or anything but these people are getting killed so you can't provide for your people and you cannot give them security you have to go at that point you have to go the other alternative is to show effort and do as much as you can but what happens is most of these leaders of the these three countries before they were removed they were playing around with terrorists right so what they were doing was they would keep the terrorists at Bay just do enough to keep them at Bay and some of us have suspicions about about where these terrorists get their funding we already you know those are questions everybody has now right so everybody questions is questioning these terrorists and who is funding them and then you're trying to appease them so that they don't attack you so the idea is you don't attack them and if you don't attack them they don't attack you the problem is you're doing what Americans call kicking the can down the road there is no compromise with terrorists if they're not going to attack you now they're going to attack you later and if you say by attacking you they're going to retaliate even more you have already showed them at that point that you afraid of them at that point you have no power and this is how most of those countries in the Sahel have ended up in this situation because of appeasing these terrorists and whoever is finding them most African leaders even won't call out the fact that these guys are funded by people we know it's not something we supposed to talk about but if you see like for example mosambik finds out oh we have this huge reserve of gas all of a sudden Al shabab appears in mosambi and we are supposed to believe that is a coincidence right you know it's not a coincidence that all these groups all these Jihadi groups seem to pop up in countries that have a lot of resources tapped or untapped right it's not a coincidence look you could have fooled the Africans of yesterday today it's very difficult we have the internet we can read for ourselves everything is 5 Seconds Away on our phones right anything we want to look up we can look up and now we can talk to each other as strangers faster than we ever did before right so they're not convincing anybody uh with that but all in all I think I went on a tagant but I do appreciate the fact that the bukina Faso people and their leader are doing everything they can for both security and providing for their people because as Ibrahim T has said their president they have a lot of work to do in terms of development and that is actually very appreciated by the people because leaders keep saying how developed they are leaders don't point out all the time how underdeveloped they are right so I wish them the best and I am positive that they will succeed