CTJ:
Re: “BIDEN: "I'm asking the Congress for the authority to lend $21 billion to the International Monetary Fund to provide access to the necessary financing for low and middle-income countries which is so difficult to come by now.”In a remarkable coincidence, I'm reading about this in my book, Jekyll Island, RIGHT NOW, as in at this very minute. The book provides example after example of the IMF/World Bank giving loans to third world countries, which is their raison d'être. Western countries, mostly the U.S., provide funds to the IMF which lends to third world countries. The countries invariably fail to make their interest payments... so the Fed generates new money for the IMF to lend to these countries so they can make their payments, or commercial banks do it with U.S. taxpayer-guaranteed loans. Here's one blurb from the book:
"In 1989, as a new round of bailout was being organized, President Bush, Sr. (CFR) announced that the only real solution to the Third World debt problem was debt forgiveness. 13 years later, President Bush, Jr., was continuing the tradition and calling for another $30 billion IMF loan to Brazil, backed by the US taxpayer."
Kinda makes you feel warm and fuzzy about the program... and the Republicans... doesn't it? But I assure you, the Democrats are every bit as complicit. This isn't a Republican or Democrat thing. It's a "New World Order" thing, in which the "rich" countries must be brought down to levels similar to those of the other countries. Here's another paragraph:
"This history can become repetitious and boring. It would be counterproductive to cover the same sordid story as it has unfolded in each country. Suffice it to say that the identical game has been played with teams from Bolivia, Peru, Venezuela, Costa Rica, Morocco, the Philippines, the Dominican Republic, and almost every other less-developed country in the world."
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