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submitted 10 months ago by [email protected] to c/[email protected]
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[-] [email protected] 27 points 10 months ago* (last edited 10 months ago)

Trust us, we are printing all this money for your own good.

Your. Own. Good.

Something like that I assume.

[-] [email protected] 32 points 10 months ago

The world bank isn't involved so much in printing money - that's central banks like the US Federal Reserve or European Central Bank.

They do love to force developing nations to adopt US-style capitalism by withholding loans for needed development projects. They also focus far too much on increasing GDP at all costs and do not give really any weight to increasing living standards or reducing inequality. Basically, think loans to institute Reaganomics and you won't be too far off.

The loans pay for large capital projects (power plants, large-scale irrigation, etc) that are built by the state and then mandated to he handed over to private entities that then charge rents and extract wealth. Not every loan and program is bad, but there's plenty to give pause when they are involved in a project.

[-] [email protected] 3 points 10 months ago

lol who would downvote this?

The - I'm pro World Bank and I'm on Lemmy guy?

[-] [email protected] 5 points 10 months ago

Is it so hard to believe some people worship power and wealth beyond ethics and social cohesion?

[-] [email protected] -3 points 10 months ago* (last edited 10 months ago)

This is also the way of the UN in general oftentimes. Trump's PPP plan came right from the UN playbook with a few tweaks so that even more of his pals could get money.

this post was submitted on 24 Aug 2024
738 points (97.8% liked)

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