Loading ...Cancel the debt!!!!
Smart… I’d blame Coronavirus too… As an exemple… Lebanon politics is corrupted as hell (according to my Dad), squandering resources.. leaving the population impoverished… how is cancelling their debt gonna help? They’ll keep doing the same game over and over… Treating the symptoms is never the cure.
https://oxfamapps.org/blog/why-the-richest-countries-need-to-cancel-the-debt-of-developing-countries-to-fight-the-coronavirus/
Maybe I’m too harsh. I don’t know anymore. Sorry for the politics.
Wow, small numbers, like a couple of days of FED repo operations. Extract from https://jubileedebt.org.uk/a-debt-jubilee-to-tackle-the-covid-19-health-and-economic-crisis-2
“… We estimate cancellation of external debt payments in 2020 for 69 countries[7] classified by the IMF as Lower Income Economies and for which data is available, would save $19.5 billion in external debt payments to bilateral and multilateral lenders in 2020, and $6 billion in external debt payments to private lenders. If it was extended to 2021 it would save a further $18.7 billion in multilateral and bilateral payments and $6.2 billion in external payments to private lenders.[8] …”
There is a HUGE disparity between us and the rest of world… sucking up all the energy.. drying the world dry.
I agree Patrick
But be aware there are many people (some at this site) and all through society that say Screw the poor..what about me ?
Private pensions own the debt.
States and locals with forward liabilities own the debt.
Cancelling the debt also cancels the Asset side of somebody’s ledger.