Whether we are agreed or not as to the origin and authenticity of Ebola, recent headlines dispel any doubt as to the reasons behind the outbreak .It is a four letter word – d e b t
Sierra Leone, Liberia and Guinea are to receive an IMF loan of US $ 100 million.
This has been the standard practice for economic enslavement in Africa since the so-called end of colonialism.Debt is a control mechanism.The World Bank and its subsidiary, the International Monetary Fund were established at Bretton Woods in 1944 by the Allied forces of World War II. This was presented as a financial program for the Third World, to provide investment for industrial development.
Since the creation of the United Nations the world has never experienced such continuous war. Since the implementation of its economic system by the World Bank and IMF, Africa has never experience such chronic levels of debt-induced poverty which has been culminated in the privatization of every last resource and asset present on the continent. African countries have re-paid their initial debts from the 1960s in triplicate if not quadruplicate
The World Bank and IMF use a form of arithmetic, unique to them. The combined debt of African countries owed to the IMF and World Bank in 1980 was $135 billion. By 1996 these countries had paid back in interest alone $175 billion. According to the bankers however these countries had not repaid the original sum but by 1996 still owed $339 billion. Source: Linda de Hoyos, Schiller Institute. ”So enormous was the capital drain from the South that Morris Miller, a Canadian former World Bank director remarked: Not since the conquistadors plundered Latin America has the world experienced such a flow in the direction we see today.”
It is deceit , bribery and blackmail that govern the IMF and the World Bank. Joe Stiglitz was fired in 2000 as chief economist of the World Bank. He revealed a number of horrific strategies that this institution uses. One of the key strategies is for a borrowing country to use its assets as collateral. If the country cannot repay its loan, it must privatize/ sell off to foreign investment such resources as hydro capability/electric, mineral deposits such as copper, bauxite, gold, platinum etc. and agricultural land. THIS HAS ALREADY HAPPENED ALL ACROSS AFRICA.As per the plan, independence and democracy of the 1960`s placed in power men who would either mishandle the affairs of their countries or leaders who could be bribed or blackmailed. The economies would, as planned, aided and abetted by the imperial forces, descend into corruption, chaos and ruin thereby creating failed states. Resulting in the mass privatization of national assets to the very same financial network. This is ECONOMIC WAR.
Joe Stiglitz “pointed out to top executives that every country the IMF/World Bank got involved in ended up with a crashed economy, a destroyed government,” and civil war situations of rioting, lawlessness and bloodshed. Stiglitz also revealed secret documents from the World Bank and the International Monetary Fund disclosing the 4 steps required to seal a loan. These are “to sign secret agreements of 111 items; in which they agreed to sell off their key assets-water, electric, gas, etc.; in which they agreed to take economic steps which are really devastating to the nations involved; in which they pay off the politicians billions of dollars to Swiss bank accounts to do this transfer of a country`s fixed assets.” Source: IMF and World Bank Destroying Countries, an article by Greg Palast.
The World Bank operates with the United Nations. The United Nations is owned (with the voting bloc of the Commonwealth) by Britain or more preciselt the City of London Corporation. The IMF and the World Bank are British institutions. They carry out British policy and operate under British banks and British law. The World Bank Group is a privately owned cartel of bankers, dominated by the Rothschilds of the British banking/merchant dynasty from the City of London. The IMF and World Bank are 51% owned by the Federal Reserve of America. The Federal Reserve is a PRIVATE bank, owned by this same cartel.
Africa, the world`s poorest region pays the richest countries $15 billion every year in debt servicing. This is more than the continent gets in aid, new loans or investment.” Source: Asad Ismi. In 1996 the World Bank in response to public demand came up with a version of debt relief-Highly Indebted Poor Countries (HIPC) initiative. Jubilee 2000 states “The HIPC is failing because it is a creditor-controlled process, designed to limit creditor losses, while increasing creditor leverage over HIPC countries. Its objective is not debt sustainability for poor countries, but rather to limit losses for rich countries.”
“Ghana`s Structural Adjustment Program experience has been particularly damaging in the areas of mining sector reform and privatization of water. Gold mining is Ghana`s main source of revenue and foreign exchange. In 1998, gold exports totalled $793 million which was 46% of gross foreign exchange earnings. Under the SAP (Structural Adjustment Program), beginning in 1986, there has been massive privatization of the mining sector accompanied by generous incentives for companies which include the repatriation of up to 95% of their profits into foreign accounts and the ending of income tax and duties. Environmental regulation has been minimized. Such a favourable investment climate has attracted multinational corporations and boosted production.70-80% of the large-scale mining industry is now foreign owned (the government owned 55% of all mining companies before 1986) with more than half of the 200 active concessions belonging at least in part to Canadian companies. Ghana is now Africa`s second largest producer of gold after south Africa and gold constitutes more than 90% of the total value of mineral output. Gold production reached a record high in 1995 and has gone up by a further 45%.” Source: Asad Ismi, `Impoverishing a Continent: The World Bank and the IMF in Africa`, 2004, PDF.
Over three-quarters of Ghanaians live on less than $1 a day.
30 000 people were displaced between 1990-98 to make way for mining interests in Tarkwa district alone, without any compensation. Two-thirds of this region has been sold off to MNCs. Environmental destruction is destroying livelihoods and health. 36 million litres of cyanide solution accidently spilled into the Angonaben River in 1996, one of hundreds of examples. Ghana`s timber resources have also been privatized under structural adjustment. Forest cover in Ghana has been destroyed by 75% since 1984.Water; the most basic necessity in society has also been privatized under World Bank legislation. Just how the hell does that alleviate poverty? “An average price for a bucket of water which used to be 400 cedis rose to 800 cedis following an over 100% increase in water and electricity tariffs announced on April 20, 2001. Privatization is expected to increase tariffs even further. The current water tariff rates that the government of Ghana and the World Bank think are below the market rate are already beyond the means if most of the population.” Source: Asad Ismi.
“Clearly, the World Bank`s structural adjustment of Ghana is a textbook example of how to ruin a country. The ruthless denial of mineral wealth, food, medical care, education and even water has made the population destitute spectators to the plunder of Ghana by foreigners.” Source: Asad Ismi.
We`re heading for mid 21st century and it is beyond time to expel a parasitic economic system.