Interesting beginnings of a rebuild of moral standing:
IMF And World Bank Announce Debt Jubilee For World's Poorest Countries
https://www.zerohedge.com/economics/action-plan-g20-debt-relief-program-worlds-poorest-countries-being-finalized
The International Monetary Fund (IMF) has just announced an unprecedented
debt cancellation program with the G20 and World Bank for countries that were
heavily burdened with debt before the COVID-19 pandemic.
https://www.imf2020.org/press
https://en.wikipedia.org/wiki/International_Development_Association
.. In total, the IMF says debt cancellation will cover 111 countries.
.. The rollout of a debt jubilee by the IMF and its partners suggests the
100-year debt-super cycle's "kick the can down the road" plan has finally hit a
wall.
Former Assistant Treasury Secretary (in the Reagan Administration) Dr. Paul
Craig Roberts has been very vocal about the need for a debt jubilee:
“The problem is there is already more debt than can be serviced. That’s
why they are trying to bail it out by issuing more debt. It’s like kicking the
can down the road until it blows up.
When does it blow up? It didn’t blow up with a $4.5 trillion Federal
Reserve balance sheet. Will it blow up at $10 trillion or does it have to be
$15 trillion, or does the Fed’s balance sheet have to be the size of the US GDP
before it blows up?
I can’t say that I know, but I do know bailing out debt by creating
more debt is not a solution.”
https://usawatchdog.com/kicking-the-can-until-it-blows-up-paul-craig-roberts/
..
Debt cancellation, or a debt jubilee, is a much better option than a temporary
freeze on interest payments.
Does this mean the CIA's Venezuela regime change operation is going to be
replaced with a debt jubilee? The list of the first 27 countries does not
include Venezuela:
https://usawatchdog.com/kicking-the-can-until-it-blows-up-paul-craig-roberts/
and looking here:
https://www.worldbank.org/en/country/venezuela
It seems that Venezuela's problems are with the USA directly, and so shall
continue to rely on the Russian "firewall" to protect itself.
Well, at least some progress on the "moral standing for humans" front is being
made, and this is a good thing.
