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Read_684 - How the IMF and World Bank Repress Poor Countries, Part 2 [Alex Gladstein]

"To give an example of what this might look like in a given year, in 2012 developing countries received $1.3 trillion, including all income, aid and investment. But that same year, more than $3.3 trillion flowed out. In other words, according to anthropologist Jason Hickel, "developing countries sent $2 trillion more to the rest of the world than they received." When all the flows were added up from 1960 to 2017, a grim truth emerged: $62 trillion was drained out of the developing world"

https://fountain.fm/episode/12038350484

Michael Matulef 3y ago

Read_685 - How the IMF and World Bank Repress Poor Countries, Part 3 [Alex Gladstein]

"Far from playing the role of good samaritan, the Fund does not even follow the timeless human tradition, established more than 4,000 years ago by Hammurabi in ancient Babylon, of forgiving interest after natural disasters. In 1985, a devastating earthquake hit Mexico City, killing more than 5,000 people and causing $5 billion of damage. Fund staff who claim to be saviors, helping to end poverty and save countries in crisis arrived a few days later, demanding to be repaid."

https://fountain.fm/episode/12147135095

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Michael Matulef 3y ago

Read_686 - How the IMF and World Bank Repress Poor Countries, Part 4 [Alex Gladstein]

"The "generosity" of the West enabled unaccountable leaders to plunge their nations into debt deeper than ever before. The system was, as Payer writes in "Lent And Lost," a straightforward Ponzi scheme: the new loans went straight to paying for the old loans. The system needed to grow to avoid collapse."

https://fountain.fm/episode/12318519841

Michael Matulef 3y ago

Read_687- How the IMF and World Bank Repress Poor Countries, Part 5 [Alex Gladstein]

"Research from Mexico a typical country in terms of consistent involvement historically from the Bank and Fund shows that for every 2% decrease in GDP the mortality rate increased by 1%. Now consider that as a result of structural adjustment, the GDP of dozens of countries in the Third World between the 1960s and 1990s suffered double-digit contractions. Despite massive population growth, many of these economies stagnated or shrank over 15-25 year periods. Meaning: the Bank and the Fund's policies likely killed tens of millions of people."

https://fountain.fm/episode/12362971659