How The World Bank and IMF Keep Developing Nations Poor

Hey Jesslaves

Have you ever wondered why if we have so-called free markets and international trade agreements that give us access to resources from around the world, why individual nations are poor or developing countries and why you never see first world nations dethroned? It's probably because you're looking at the worlds biggest Ponzi scheme, but some call it the international monetary fund or the world bank.

This institution was set up under the idea that it would help nations needing capital to extract wealth and build better futures so they could catch up to the rest of the world. However, all it ever was, is a debt noose strangling smaller economies, keeping the status quo, enriching individual nations at the expense of others.

So why hasn't it changed? Because it benefits the first world, of course! No one's going to bring change when they benefit from the system being there.

Image source: - somtribune.com

The drive to be an export nation

In a debt-based fiat currency world, every nation is trying to be a net exporter of goods, apart from the US who has world reserve currency status, the US exports debt and allows other richer countries to export their debt to get resources from other nations.

The goal for every nation is to push out as much product as they can and get as much debt-free money into the country that they can use for developing the nation. Now if you owned your production, this would be amazing, you could monetise your countries value and give it back to the people.

Unfortunately, for many developing and emerging nations this is not the case, they need to pay their debtors before they can pay their people and sadly, it's a debt they'll never get out of in the current system.

Ever wondered why people are starving in countries when the world has an abundance of food? Well if it makes more economic sense to export to pay your debt, then you instead do that, then feed your own people, and sadly that is the state of the world we live in today.

The debt trap

Let's take my home country of South Africa for example, they've run to the IMF for a "relief" which is another word for a loan, and put together a 500 billion Rand ($27 Billion) chokehold on the country or around. These loans often come with certain conditions that benefit developed nations. The IMF naturally grant the loan on the condition that you will do what they want you to with the money.

Let's say it was to build hospitals and get medical equipment; it wouldn't;t be a case of you using the funds to create it locally or looking to the market to get it at the best rate, no you would need to get it from service providers the IMF says you can use, which means the money is effectively moved back to the developed nation now as debt-free money while leaving the developing country with all the debt.

Now they developing nation will have the misfortune of paying it back in a currency that continues to get stronger as the majority of the debt is denominated in dollars and all governments are fighting for it to pay off their debts.

It creates an endless loop of servitude that developing nations will never break and all it does is prop up the US dollar at the expense of other countries fiat until they go bust.

Sell out policies

It is clear that either smaller nations leaders are wholly incompetent and have no idea how economics works, or they paid off a small fee to sell out their country, its labour and resources to the Ponzi scheme. Since nations in Africa and Asia are some of the youngest, they're filled with new suckers to put into indebted servitude in a new form of slavery.

We can talk about how we can bring relief to places like Africa and poor nations around the world all we like, but these efforts are never going to have the desired effect until smaller nations free themselves from debt cycle and move to sound money.

Have your say

What do you good people of HIVE think? When will smaller nations wake up?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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