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Led by Sanders and Omar, 300+ Global Lawmakers Call on IMF, World Bank to Cancel All Debt of Poor Nations Amid Covid-19 Crisis

Originally published at http://www.commondreams.org/news/2020/05/13/led-sanders-and-omar-300-global-lawmakers-call-imf-world-bank-cancel-all-debt-poor

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Neoliberalism under attack awesome.

This is what 21st century FDR (save capitalism from itself, er, I mean the kleptocrats, er … the deluded sycophants addicted to the lugubrious mouth noises that are manufacturing their consent) to something that is NOT AN ECONOMIC SYSTEM in any way shape or for, but goes by the handle ‘capitalism’ sheesh.

There is ONE valuable aspect… in there somewhere. Oh I know, human beings attempting to work together. Dang, what a concept.

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Before his death in July of 2012, Gore Vidal when asked if there was any hope said in an interview,

“Our liberation from this system will come about as a result of an economic collapse,” he asserts. “This is inevitable, on the basis of the colossal debts we have been building up. This must lead to monetary breakdown at some stage. The writing is on the wall.”

Gore Vidal

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It has been said of Americans: If you have 0 debt and 0 assets (nothing financially) you are in the top 50% of the wealthiest Americans. I wonder if the ‘300’ understand the meaning of a poor nation?

Considering that the IMF and the World Bank’s MO is to make loans to distressed countries until they are so deeply in debt that they must ask for real aid. When that is done, the IMF and WB would set terms for this. They wanted the country’s resources as collateral, they wanted to control the infrastructure, water, electricity, etc. This in addition to the country’s existing debt, to be paid by higher taxes. Most of this collateral was sold to big corporate bodies, who ripped off the profits, and rewarded the IMF and the WB for their efforts. Starving people were to practice “austerity,” which meant even less food for their children, losing their home and any other property they might have, with the specter of government officials entering their homes and taking anything of value to offset some of their “taxes due.” In essence, these people that were “helped” by the IMF and WB were reduced to serfs of an international Oligarchy, with few or no rights at all except to “shut up and pay.”
**If those two octopi will actually return to the process they were created for, assisting nations in distress rather than taking whatever the country had for profit of both them and the corporations of the wealthy countries that supported their extortion racket, perhaps we will see the way to start rebuilding and saving the planet and its peoples.
**I have a little hope, but I won’t hold my breath.
;-})

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Great summary of the IMF model Steve.
I have little doubt the IMF will raise their middle finger in response to the letter in the story. I can’t figure out if this letter is for “appearances” or sincere, I did notice AOC’s name is absent from the letter. Considering she is the only member of congress to vote against the last corporate give-away bill, is this telling? It maybe nothing, but who knows.

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Hi Recon,
**I went down the list again. AOC is there. She is the ninth American Legislator out of thirteen. Either two or three were Senators, the rest Congress.
*Bernard Sanders, Senator, United States
*Ilhan Omar, Member of Congress, United States
Richard J. Durbin, Senator, United States
Jesús G. “Chuy” García, Member of Congress, United States
Raúl M. Grijalva, Member of Congress, United States
Pramila Jayapal, Member of Congress, United States
Barbara Lee, Member of Congress, United States
Eleanor Holmes Norton, Member of Congress, United States
Alexandria Ocasio-Cortez, Member of Congress, United States
Mark Pocan, Member of Congress, United States
Ayanna Pressley, Member of Congress, United States
Bobby L. Rush, Member of Congress, United States
Rashida Tlaib, Member of Congress, United States
**We hope all is going well with you in the current unpleasantness.
**Steve
** ;-})

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My mistake then, I missed her name when I scanned it, thanks.

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I am impressed by the global outreach involved in this effort. We definitely need more collaboration internationally!

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