Trying to do to Argentina exactly what it did to Greece. The following are conditions the U.S. controlled World Bank can, and often does, place on foreign countries and governments once they are indebted and enslaved using the falsified paperwork and tactics exposed by John Perkins and now Karen Hudes: • Cutting expenditures and government programs for education and the poor, also known as austerity. • Focusing economic output on direct export and resource extraction. Exploiting natural resources for profits to U.S. corporations instead of domestic ones. • Devaluation of currencies and a far greater dependence on U.S. currency, • Trade liberalization, or lifting import and export restrictions to facilitate more U.S. corporate takeovers and profits at the expense of domestic employment and companies, • Removing price controls and state subsidies which creates further hardships on the populations, greater civil unrest, and enables the U.S. to threaten governments with uprisings and civil war creating more U.S. arms sales profits, • Privatization, or divestiture of all or part of state-owned enterprises for U.S. corporate profits, • Enhancing the rights of foreign investors vis-a-vis national laws negating foreign governments for U.S. investor profits. Bloomberg reported April 1, 2014: Argentina will begin to cut gas and water subsidies by 20 percent beginning today...“Given what they’ve been doing in recent days like changes to subsidies, they’re cognizant of the need to maintain this change in policy,” Marco Santamaria, a money manager at AllianceBernstein LP, which oversees $25 billion in emerging-market debt, said by phone from New York. “They have a lot more work to do, a loan here and a loan there won’t bring liquidity relief that makes the math sustainable,” Abad said in a telephone interview from Pasadena, California. “This legal issue can create a big dent to what happens. It’s hard to set the parameters to how much they have to set aside.” The government has $5.9 billion of bonds due in October 2015. Joseph E. Stiglitz, former chief economist and senior vice-president at the World Bank has stated the purpose of the fund is no longer valid and “it is reflecting the interests and ideology of the Western financial community. Reforms to give more powers to emerging economies were agreed by the G20 in 2010, however as of April 2014 the U.S. has not agreed to these reforms. Former Tanzanian President Julius Nyerere famously questioned, Who elected the IMF to be the ministry of finance for every country in the world? and therefore described it as the International Ministry of Finance with the U.S. dictating terms and demands to every country in the world? He also claimed that many of debt-ridden African states were losing their sovereignty to the the IMF and the World Bank by being forced to agree to the terms of the loans which benefit U.S. companies and control. In 2009 a study by analysts from Cambridge and Yale universities published on the open-access Public Library of Science concluded that strict conditions on the international loans by the IMF resulted in thousands of deaths in Eastern Europe by tuberculosis as public health care had to be weakened. In the 21 countries to which the IMF had given loans, tuberculosis deaths rose by 16.6%. IMF policies have been repeatedly criticised for making it difficult for indebted countries to avoid ecosystem-damaging projects that generate cash flow, in particular oil, coal, and forest-destroying lumber and agriculture projects. The documentary Debtocracy asserts that the current debt of Greece is due to new loans that were issued to pay older debts and the austerity measures demanded by the U.S. controlled International Monetary Fund and the European Central Bank, which will result in an even higher debt, equal to 167% of the countrys GDP in 2013. The film says Argentina is dubbed the mirror image of Greece at the opposite end of the world in terms of its economic collapse, and an example of what might happen to Greece if it continues to follow the same neoliberal policies that the International Monetary Fund had implemented in Argentina and are currently being implemented in Greece. There are two ways to conquer and enslave a country. One is by the sword. The other is by debt.”~ former U.S. President John Adams. “I love my country, not my government.” ― Former Navy Seal and Minnesota Governor Jesse Ventura
Posted on: Tue, 24 Jun 2014 05:53:10 +0000
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