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Third World Debt

Every day, over twenty thousand children under the age of five, die because of third world debt. http://www.globalissues.org/print/article/715   Third world debt is killing more people in this world than anything else is. The urgency to clear third world debt is extremely high because it is leading directly to the deaths of thousands of children each day.
 
 
It is absolutely outrageous what the banks have done in line with the IMF and World Bank policies. The death and suffering inflicted to the poorest nations of this world by these parties can only be described as crimes against humanity. We need to address third world debt now!
 
 

It’s Time to face the truth!

Unfortunately the creation of money no longer comes from our government as social credit; it now comes from global banks at great cost. (The shells have been stolen!) These banks go from one country to another offering much needed money in the form of bank loans, usually at high interest rates. By this act, they make incredibly high profits, for they created this money out of nothing, creating it irresponsibly without representing anything of value. Even worse the banks now create money as debt. 
 
 
Countries that have surrendered their sovereign right to create their own money now have to face these ruthless banks. For every 100 dollars borrowed another 10 dollars must be repaid in interest, since only 100 dollars is received another 10 dollars must come from somewhere. This leads to further borrowing, until the cycle of debt forces bankruptcies and the relocation of assets to the banks.
 

Dire Consequences Of Third World Debt

Countries such as India and Brazil have already been down this road of bankruptcy. Assets are seized and requirements are set by the International Monitory Fund before any more loans are passed on from the World Bank. Note; these loans are lent to these countries in hard stable currencies such as American dollars. Often the ability to repay their loans is further decreased by the dropping value of their own currencies; a five-fold drop in their own currency can increase a ten billion dollar loan to fifty billion dollars. Part of the terms given by the International monitory fund require spending on public services to be slashed before any money is allocated from the World Bank.
 
 
Priority must be given to the repayments. Often hospitals and medical treatment are no longer an option and therefore thousands upon thousands of people die needlessly every year because of third world debt!  Poverty in these countries has reached plague proportions. India could easily feed its entire population with the crops it produces, but many hundreds of thousands of people go hungry, the reason - crops are sold as trade to other countries in order to pay their interest bearing debts. Third world debt continues to get bigger and bigger. It is absolutely disgraceful!
 

The Removal Of Third World Debt

Most poverty in this world has been contributed greatly by our current banking system. Much of this can be erased by the use of fiat money. Once this debt has been removed, social credit policies would need to be put in place. Many of these nations are rich in mineral assets and the ownership of these assets must be given back. Modern farming methods must be made available. Electricity and clean water which we take for granted in the developed world should be made available. With the help of of social credit principles, these nations can be poverty free and self sufficient.
 
To avoid any major impact to the economies of the world, new fiat money (as in quantitative easing) could be used to remove this debt completely and should be done with little or no effect. Currently it is only done in a limited form in developed nations  to service debts or finance government spending when interest rates are low as a lost resort.  A few countries around the world are presently using quantitative easing to prevent a default. There is no reason at all why this cannot be done to remove third world debt.
 

How Social Credit can be applied Locally

Local debt free banks (People Banks) can be applied locally. Every citizen especially those enslaved in third world debt need to know this information.  It is a very simple process that local communities can start themselves with a little help. Debt free money can be created in this way and supplied in sufficient amounts to cover all goods and services needed to accommodate trade.
 
A local bank is first opened and a simple card system (depending on the development of the country in question) is issued to every family. These cards (bank account cards) will be used to record transactions on a daily basis always requiring two cards and two signatures. Every card will be issued with a certain amount of money initially and other amounts as dividends if needed to increase the money supply.  This system can and will spread as the people understand how it works.
 
Francois de Siebenthal -an economist and Consul General of the Philippines in Switzerland explains in this link  how easy it is to open a local bank with just the use of a simple card. The Philippines already have some People Banks running and they are spreading.
 

 
see link  What Can Be Done!