The western debt traps and the real creditors behind this woe

WASHINGTON : A new global sovereign debt "roundtable" that will include China, other creditors and some borrowing countries will meet for the first time next month on the sidelines of a Group of 20 finance officials meeting in India, IMF Managing Director Kristalina Georgieva said on Thursday....

The Bulgarian economist, who has pushed hard for quicker movement on debt relief, said she would travel to Zambia in two weeks, and hoped the African country would become the second nation after Chad to complete a debt treatment process under the Common Framework.

The framework was set up by the Group of 20 major economies and the Paris Club of official creditors in October 2020 to help countries weather the COVID crisis, but it has been plagued by long delays.

U.S. Treasury Secretary Janet Yellen and other Group of Seven have grown increasingly frustrated about what they see as foot-dragging by China in moving forward on debt treatments for countries seeking help. China, for its part, argues that multilateral institutions should also required to accept reductions in the debt they are owed....

Georgieva first discussed the new roundtable last month after a visit to China, noting it would also include private sector creditors and multilateral institutions such as the IMF and World Bank....CNA

The above will tell the full picture, or almost, about the real western debt traps created by you know who but not telling, and keeping the poor nation poor, and spreading the mischievous narrative that Chinese loans were the cause of debt trap. Look at the last sentence that I highlighted in bold. They have hidden this in the middle of the article. These are the institutions that are the creators of the debt traps of African and other developing countries. They have been hiding under the narrative of Chinese debt trap, as if China was the main cause of the debt trap. 

Chinese loans are very different and very small compare to the years and decades the other institutions have been preying on the debtor nations. For one, infrastructure debt is not debt trap in reality. The infrastructure are real assets that stay in the countries for decades or hundreds of years to benefit the countries economically.  In extreme cases, when countries are exceptionally burdened by debt from World Bank, IMF and other western private institutions, like Sri Lanka, the infrastructure could be turned into a long lease and the country, instead of being a debtor, could become a lease owner, collecting rent. No more debt to talk about but collecting revenue.

The real long term debt are those offered by the world Bank, IMF and private western institutions on spurious and suspicious loans that are hardly assets in nature and charging higher interest rates than Chinese loans. Many developing countries have been caught in these debt traps for ages and unable to free themselves. Outrageously, some of these debts are reparation for colonial rules instead of colonial countries paying compensation for invading, ruling and looting these countries. And many of the loans actually gone into the pockets of corrupt leaders propped up by the West but then disappeared, leaving the countries in debt.

Now the liars and bandits are dragging China into it, wanting China to write off debt but not theirs or wanting China to share their dubious debt.

The real devils and demons of debt trap cannot hide themselves anymore. Please tell the full story of the debt the poor nations owe to them.

PS. 'France invaded Algeria – then a hub of piracy ruled by an Ottoman satrap – in 1830, and spent the next century settling the North African nation with hundreds of thousands of white Europeans. Muslim rebellions were quashed, and French forces tortured, murdered, and displaced hundreds of thousands of locals. The occupation ended in 1962 only after up to 1.5 million Algerians had been killed in an eight-year war of independence.

“I don't have to apologize” for these events, Macron told the magazine. “There was a war. Apologies or no apologies, that doesn't fix anything.”'

Don't apologise is one thing.  Would France return the hundreds of millions of reparations paid by Algeria as compensation for colonisation?

Empire of Lies - making dangerous viruses is called gain of function research

The irony is that while thinkers, scholars and ordinary Americans are saying 'America is a terrorist state', the Residents still infesting the Swamp are claiming they are freedom protectors and upholding democracy. When others in the Middle East fight for their freedom against the USA installed stooges, they are branded as terrorist.

What do we call those who blew up the Nord Stream pipelines? Who were those people who blew up the bridge linking Russia with Crimea. Putin called them 'International Terrorist' and he is perfectly right.

The trouble is that the Evil State will never call a spade a spade, but twist around using 'word salad' popularised by Kamala Harris, to musk many things that were apparently wrong with their system, but inventing nonsensical answers to parry or deflect away the blame for their mistake.

One such example is recession, which they are trying to re-define themselves, while the whole world have to stick to one definition of what constitutes a recession, while the USA is trying to invent one definition that fits their agenda for their own use. So, never expect the USA to admit falling into recession today. Just using words to steer the problem away will solve the problem.

Another more sinister move is inflation. There is now a new definition being used - 'Super Core Inflation'. It is a very telling move that the world better take note, which they are now going to use, by removing the key components of inflation - food, energy and housing cost from the calculation of inflation. These three are the most important key elements of inflation, and the most compelling, and removing them means inflation figures in the USA will ultimately tank.

That they are eyeing inflation of 2%, which if they used the normal way of calculation by including food, energy and housing, will never be achieved in a thousand years. Raising interest rate to tame inflation has obviously failed and is hurting the economy. Using the Super Core Inflation calculation will allow them to achieve the 2% target, but that will be one big lie and really pulling wool over eveyone's eye.

So, by hook or by crook they have to pull the inflation figure down to fool the ground. The reality is, will people continue to be fooled when inflation figures fall, but cost of living remains in the stratosphere?

Anonymous 

The best job in the world

 

This 1min 18 sec clip tells you what is the best job in the world. No, it is not selling tissue papers or driving taxis to be your own boss. It is not even lawyers or doctors or highly desirable professions that you would need to work very hard, train very hard to get a degree to qualify. And you do not need to worry about being sued for negligence or failure to do a good job. So no need to buy expensive insurance to protect your self.

In this job, you do not need to arm yourself with expensive degrees. All it takes is for you to be likeable or acceptable to your interviewers. There is also no need for a string of job experience as demanded by head hunters. This job is called politician.

And the job is so rewarding especially in Singapore. It is not that the job is not rewarding in other countries. There they are compensated differently. In Singapore, if you are a politician and in the ruling party, becoming a millionaire is taken for granted. And, although the job comes with heavy responsibilities, so far very few have been taken to task for failing in the job. The normal penalty for failing in the job is resignation or losing an election. That is as bad as it can be, and very rare indeed.

In many professions, failing to do due diligence, failing to perform or causing injury, you can be sued to bankruptcy, and also losing your licence. Oh, in this job there is no need to apply for a licence. And once you are a ruling party politician, you become an instant knows all, an expert in everything, can be advisor everywhere, and can take on 20 or 30 jobs. Not sure these additional jobs come with additional pay or perks. Think some do, and some just honorary.

As for the licences, you cannot lose your licence for malpractices or being sued. There is no licence to lose and no one can be sued as a politician, or at least so far there is no such a thing of being sued.

And there is no need for regular upgrading courses. Your ability to be promoted to higher appointments as a politician does not depend on more certificates, more degrees or certified training skills. Once you are a politician in a ruling party, you are assumed to have all the required skills for any or whatever position in the govt or in the private sector. The qualification is being a politician, a qualification that does not any degree or training.

Ok, ok, correction, politicians can also be sued, if you are not in the ruling party. Can a politician in the ruling party be sued, not sure about this. So far never heard of.

What do you think? True or not.

Sunak - The saviour of Britain

 

When American thinkers, scholars and ordinary Americans are saying, 'America is a terrorist state'

 

When American thinkers, scholars and ordinary Americans are saying, 'America is a terrorist state', the game is over. 

Watch this 8 minute clip from 1:30 to 6:00 to hear the painful truth from Jimmy Dore and how Tucker Carlson was so stunned that he did not know how to respond. Many top American thinkers and professors are standing up to tell the Americans of the lies Washington and the Military Industrial Complex are telling them and leading them to WW3, a war of annihilation of the human race, and the Americans would not be spared.