Perhaps the most staggering data I came across while researching the IMF and World Bank is that ever since 1982, the flow of funds has been from poor countries to rich ones, not the other way around as we are led to believe
This flow is now in the *trillions* of dollars per year
- nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu
#BitcoinTwitter
The US has earned more than it contributes to the world bank since the late 1960s
Decades of Western aid have failed to bring prosperity to the continent. More money leaves through debt repayment and corruption than is invested. Widespread colonialism continues through France’s control of the CFA Franc and the USA’s control of the World Bank/IMF. Local economies need to be deregulated and opened up to enable entrepreneurs to create and flourish. Private property also needs to be promoted and hard money adopted that can’t be used to exploit citizens. Stop victimising and start creating. #Bitcoin #Africa
Indeed the “support” is net negative por developing countries. They are squeezing them like a lemon 🍋 by giving them the squeezer in the shape of “help”.
