George Soros has suggested that poorer nations be persuaded
to take on what he describes as "green loans" in the
name of combating climate change, a policy that would land the
already cripplingly poor third world with even more debt, payable
to globalist institutions such as the IMF.
Speaking yesterday at the climate summit in Copenhagen, the
financier said that $100 billion should be provided in loans
to poorer nations to help slow global warming.
The proposal would entail third world countries paying back
interest to the governments of the richer nations to stem a
perceived crisis that they have had little or no direct involvement
Soros suggested that the loans could be backed with “special
drawing rights” – a synthetic international paper
currency issued by the International Monetary Fund.
"Money must come from somewhere, not just from a printing
machine," Artur Runge-Metzger, head of the European Commission
delegation, said when asked about Soros' proposal.
Of course, it is no surprise that Soros would espouse such
a proposal given that he has made billions speculating against
currencies on the casino of the financial markets. Real and
tangible assets mean nothing to the man.
Soros added that other proposals for funding, including a suggested
$10bn emergency fund for developing nations, are insufficient.
“The $10bn fund is more than nothing but not much more
because of the magnitude of the problem,” Soros said.
“It’s already becoming apparent that there’s
a gap between the developed and developing worlds on this issue
that could actually wreck the conference." he added.
The IMF and the World Bank are organizations that have made
a habit out of looting poorer countries with crippling loans
that cannot be paid back, forcing such countries to hand over
their entire infrastructure to globalist loan sharks.
Two men who have exposed this monumental scam for what it is
are former World Bank chief economists John Perkins and Joseph
Stiglitz in their respective works Confessions of an Economic
Hit Man and Globalization and Its Discontents.
In what amounts to little more than modern day colonialism,
debt forgiveness requires countries to sell their health, education,
electric, water and other public services to globalist corporations.
Such "structural adjustment conditionalities" have
led to massive cuts to health and education budgets in the third
Poorer countries have also had to discontinue subsidies and
trade restrictions that support local business and development.
The long and short of it is that poorer countries continue
to be politically neutralized and socially and economically
dismembered by such policies.
Soros' latest proposal ties the whole sorry state of affairs
up with a large green ribbon.
As we reported
earlier this week, the implementation of policies
arising out of fraudulent fearmongering and biased studies on
global warming is already devastating the third world.
In addition, the
leaked Copenhagen text that emerged earlier this
week highlighted the fact that developed nations are planning
to take on less of a burden than anticipated and that more would
be demanded of poorer countries despite the fact that any further
cuts in CO2 emissions will further cripple their flimsy economies
and poverty-stricken people.
The leaked paper revealed that funds from climate financing,
originally allocated to go to the UN and then be doled out piecemeal
to third world nations, would instead be paid directly into
the coffers of the World Bank and IMF.
The draft agreement would allow people in developed countries
to emit twice as much carbon per head than those in poorer countries,
who have not caused the rise in emissions said to be threatening
our existence on the planet. The revelations have led third
world leaders to accuse the developed world of “climate
revelation from the summit reveals that under a
plan tabled by Britain, money earmarked for education or health
in poorer countries would be diverted into projects such as
solar panels and wind farms, again diverting much needed aid
away from efforts to increase the standard of living.