When you don’t know where the problem is, then follow the money. In short, this is a simple rule that has been helping me for years to get to the real essence of a problem. Because of money, couples, friendships, and family ties, are broken. Sometimes guns are involved too.
Money in BiH is not a problem, there is no money, at least for most. The minority that has accumulated and hidden millions in various accounts, mostly outside this country, have no intention of dealing with the problems of the majority. They are mainly engaged in the protection of their treasure and the purchase of time, so that they can enjoy their wealth as long as possible and with impunity.
Since 2020, Bosnia and Herzegovina has been negotiating with the International Monetary Fund (IMF) for a new 750 m euro financial arrangement. In order to receive money, BiH must meet the condition, which is the establishment of a register of accounts of natural persons in the Central Bank of BiH. The rulers in the Republic of Srpska say that this is a transfer of competencies to BiH and do not agree to this condition.
If this register were established, it would be easier for ordinary citizens and businessmen to get a loan, and money laundering would be made impossible or significantly more difficult. The IMF is looking to enable the money from this arrangement to really reach the citizens, and not be abused by a corrupt political octopus. Well, that’s the catch!
Preventing money laundering would make life easier for citizens, but significantly reduce the time that ruling ethno-cartels would remain in power. Why should they pass a law that would shorten their lifespan?!
It is easier to borrow on e.g. Vienna or the London Stock Exchange and put companies, state property (forests, rivers, etc.) as collateral. Namely, in June 2018, the securities of the Republic of Srpska in the amount of 200 million euros were sold on the Vienna Stock Exchange. At that time, five-year bonds were issued with the maturity of the principal on June 28, 2023.
The Vienna agreement states that if RS does not return the funds to creditors, bondholders have the right to seize any company that is more than 51% owned by RS. These are very strict conditions, so if the entire amount is not returned in 2023, it could happen that someone comes and takes, for example, the majority share of Elektroprivreda RS. The money raised in this way, was supposed to be used to pay pensions and salaries to public sector employees.
Every entrepreneur knows that when he starts borrowing for the payment of salaries, his financial collapse is approaching. But that does not worry the RS authorities. They withdrew their money from this country a long time ago.
As if that was not enough, in April 2021, RS bonds were sold on the London Stock Exchange, in the amount of 300 million euros with an interest rate of 4.75 percent. Going public on the London Stock Exchange will cost taxpayers in Republika Srpska an additional 375m euro over the next five years.
According to the RS Government, the money is intended to increase salaries and pensions. Everything is happening a little over a year before the general elections in Bosnia and Herzegovina. We do not know what was given as collateral. We can only guess. But what remains to be pledged from the ‘state treasure’ are rivers, forests and construction land. And this is where the plot thickens!
On September 23, the Constitutional Court ruled that the forests were not owned by the Republika Srpska, but by the state of Bosnia and Herzegovina, and that they had to register with it.
The ruling party in RS would gladly (or maybe already has) pledge that public good that belongs to everyone for a loan, to buy another victory in the upcoming elections. But what happens after that? They obviously don’t care. They can’t and don’t want to think that far. It is only important that they rule their fief, as much as they want, and probably to the last inhabitant of that entity.
You should know that since December 2020, water has been traded on Wall Street, and its price on the stock exchange varies like the prices of oil, gold or wheat.
Tell me, what will we drink and how will we water the land for food production if someone confiscates our rivers through these bonds?!? Are we going to collect rainwater in the cities? What if it doesn’t rain for months, like it didn’t last summer?! How much will the food cost? Are we going to buy peppers and eggplants in half pieces, because most of them are already buying them by piece, not by kilogram?!
Blowing the trumpets of war is just a distraction from these essential problems.
It is completely clear to Dodik that he does not have an army and will not have one, but forests and rivers… Eh, they are in front of his nose, and they are now publicly putting them on the negotiating table.
To those who sit with him at the negotiating table, whatever language they speak (foreign or domestic), all this should have been clear long ago. Those who have not understood that now, will hardly ever understand.
The guardians of rivers in BiH have realized a long time ago that something was going on behind the hill, but they were not sure what it was about. When the mass of people gathered around these groups, connects the dots, and understands all this, things will change. There is no government that will be able to stay in power, and rule over people who have realized that they got nothing more to lose and are ready to go for everything or nothing.
We have known for a long time that we do not live in a democratic, but in a feudal society. What is approaching us is the peasant revolt, which may help us finally enter capitalism, which came on the wave of the Industrial Revolution. We are living in the time of the fifth technological revolution, maybe it is time for the transition to end once and for all.
