"Africa Gettin' Raped More Than We Thought" - World Bank

[#1 pick]

Corporations need to be looked at as countries these days.

 

[Nobu]

I don't think you're reading my posts or catching my point. I'm basing everything I'm writing on the moves the US made during the last World War and framing my responses under the concept that they can take advantage of another world war.

If history has taught us one thing it that a country can come up QUICK in science and technology by picking off their brightest minds in the middle

Hope for another World War, and all the scientists will flock to Africa like the brilliant Russian and German scientists flocked to America?


...I don't see what incentive they would have to flee to develop Africa, tho. There were a lot more incentives for Russians and Germans to move to America during WW2 than I can think of incentives for them to move to Africa.

I really can't see many obvious parallels between America circa WW2 and Africa today.

 

[null]

 

[null]

What resources did India have 40 years ago? China? Iran?

China
Lists of countries by mineral production - Wikipedia

 

[null]

Hope for another World War, and all the scientists will flock to Africa like the brilliant Russian and German scientists flocked to America?


...I don't see what incentive they would have to flee to develop Africa, tho. There were a lot more incentives for Russians and Germans to move to America during WW2 than I can think of incentives for them to move to Africa.

I really can't see many obvious parallels between America circa WW2 and Africa today.

New markets..

 

[Nobu]

New markets..

...? The world's brilliant scientists don't choose where they do their research based on where the market is least developed. That's never been the case.

 

[null]

...? The world's brilliant scientists don't choose where they do their research based on where the market is least developed. That's never been the case.

Sorry I meant just the development part.

 

[DEAD7]

 

[The Amerikkkan Idol]

This shyt is just so frustrating because it seems like White Supremacy is like this fukking blob that just evolves and reforms when you think that you're doing something to defeat that shyt.

I've been hearing about all these African countries on the rise lately and then some shyt like this happens that makes you realize that we as African diaspora people are wayyyyyyyy behind in the game.

I don't know if fukking World War III would hurt or be the only shot that we'd have to make inroads against WS while they're fighting each other.

 

[bnew]

Spoiler: thread continued

Spoiler: full text

1/70
@michael_galant
“African countries borrow at rates up to 8 times higher than Germany and 4 times higher than the United States. It’s a Marshall Plan in reverse, in which the poorest finance the richest.”

@LulaOficial at /search?q=#UNGA



2/70
@michael_galant


[Quoted tweet]
"Debt is the millstone around the neck of developing countries — stifling their potential [&] robbing [them] of much-needed funds for health, education & social spending"

@CyrilRamaphosa calls to reform global financial architecture & lift the South from "quicksand of debt"


3/70
@DanCollins2011
Except then never pay it back and get the debt written off by governments which pay 100% to the banks that loaned the bad debt then extract it from Western tax payers. Poor Western taxpayer fund African oligarchs who extract the cash and send it to Switzerland.



4/70
@MelusiSiboniso
Who sent them to borrow in the first place? This is why I hate African dictators.



5/70
@GravyHound12
It’s called “credit risk”.

Undeveloped societies with insecure political and social systems are risky places to invest. To compensate, lending rates are higher.

Same principle applies to ordinary individuals.



6/70
@edwardross01
I think you should read the repayment stats; Africa’s vs Germany.

Since the 1950 the African countries have defaulted on 93% of their debt; paid whatever interests they were charged for no more eight years and then defaulted.

Germany; you should know the answer, don’t you?



7/70
@pi_cameroon
@pikaso_me screenshot this



8/70
@pikaso_me
Enjoy your screenshot and...

Get 10 stickers for $1: $1 for 10 | Sticker Mule



9/70
@subyroy
yes... credit markets have their explanations...

[Quoted tweet]
which reminds of Joan Robinson opening her *Rate of Interest* contrasting rural Indian credit w London money markets


10/70
@_SBat_
Guess why that is. 'corruption', 'socialism', 'poor leadership', 'unsolid budget policy', 'strangling economy' with Regulation and limitations, high taxes, ....



11/70
@mark_sachs
Because they are risky investments at. That’s how banking works.



12/70
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13/70
@KaraoWaNairobi
@Bushra1Shaikh come check this



14/70
@BarronNaledi
You got it in one !!



15/70
@dylanbusa
It’s called risk. If African economies and countries were better run, they would get better rates. It’s not hard to understand.



16/70
@AronDavids21591
Was a time also that Nigeria was not allowed to refine its own oil, not sure if that is still the case, but the trade deal forced them to buy back refined oil from Europe at a much higher price.



17/70
@Mykydodo2000
Same in east Europe.



18/70
@MotsohiThabang
From domination, colonisation and finally perpetually chained through indebtedness overseen and adjudicated by their lender enforcement agencies.



19/70
@RasMiki251
@alemayehuGeda I’m sure you would ageee with Lula’s statement



20/70
@maverickvaks
A true 19th century Marxist, a humble socialist, an uncompromising revolutionary /search?q=#Lula



21/70
@mizrahi_matias
Brasil is more than welcome to loan money to African countries at a much lower rate.



22/70
@RuneSolberg8
People like this should never be granted power!



23/70
@rui_martins1966
A proputin puppet.



24/70
@r_rukaka
True. And there is no objective grounds for that situation beyond an unfair global economic structure that favours former colonial Powers at the expense of those they colonised in the Global South.



25/70
@83d27187dde7420
Create a BRICS + bank that only lends money to LDs. Do away with 'the keep them poor' lending system.



26/70
@n004477
Then they wonder why we cross the Mediterranean sea?



27/70
@buherithomas
Why borrow especially from colonisers? Why is there not an indicator of the move to liberate the continent from the chains?



28/70
@graceseb
The revolution is to have all these interest rates down to 4-8%. The 15+ we get is stealing. In here is how we might fix poverty.



29/70
@s_lonardi
Risk, idiot!



30/70
@MogadishuMade
No lies detected!



31/70
@eedriz_
It's simple, stop borrowing... But the thieves in government don't care .. they'll borrow to buy luxury cars...



32/70
@stijipoltouk
L Afrique, le trésor sans fond des parasites occidentaux



33/70
@whatsgonewith
Explain this then.

[Quoted tweet]
Top 20 US Foreign Aid recipients since 1946


34/70
@UmBencaoCadaDia
Why isn't Brazil leveraging up and pushing it's banks to do more lending in other developing economies then ? Access to credit is pretty good in Brazil.

Is it perhaps that investments in developing economies is risky.....?



35/70
@renatogiannetti
Good debt (MD)



36/70
@3pupmomma
It's called colonialism.

The modern version, operated through private companies abd central-bank policies



37/70
@Sthembiso_RSA
Our poverty is manmade and the beneficiaries are not willing to let us go free.



38/70
@amitaminem
It's the big con



39/70
@Sthembiso_RSA




40/70
@Max_Khalanga
@Bryanchelsea11 @tendaim65



41/70
@sayed_tawab
A la Usury.



42/70
@diala_peace
And afterwards they will start asking for debt relief



43/70
@Monare99
It is our money maan. They must just give it back.



44/70
@lakitukl
Reverse Robin Hood.

To be fair - the UN did shout from the rooftops quite recently "stop! wrong way! go back!" - but for some reason..

[Quoted tweet]
"rather than increase rates, which will do little to ease shortages of energy and food, policy makers should focus on measures that target price spikes directly"

wsj.com/articles/u-n-calls-o…


45/70
@JimohMutiuKola3
Hmm Africa



46/70
@Pelsrobman
Does this guy not understand risk? Rates are higher in Africa because there is a bigger risk of defaulting. Lenders want to be compensated for that risk.



47/70
@The_Scarlet_Pi
See what happened to brlusd exchange rate since the beginning of @LulaOficial and you understand why



48/70
@NgouRod
This kind of language doesn't help Africa at all . The risk premium on African countries except for some few reflect how mismanaged those countries are .



49/70
@powwower
This is disgusting



50/70
@jabuz
The open secret is the fact that the Rich ‘print’ to create a functional and cyclical economy whereas the Poor even when they ‘print’ they do create but consumer because they don’t produce but consume what the rich produce. Money is simply a means not the end.



51/70
@DoctorShange
Neocolonialism and imperialism in disguise of aid!



52/70
@benW_crazy
When the math is heartbreaking and burdens others, is it time to rethink?



53/70
@IamLungile_
High risk clients are charged higher interest by banks.
It's called risk management



54/70
@bluesofie171
Lula is an illiterate



55/70
@inTheMtnWood
And here comes a Marxist to save Sri Lanka with none other than help from the IMF.



56/70
@TrollFake16
@michael_galant Because those are LOANS - and by definition - you need to PAY IT BACK.

The more unstable you are = the higher risk = the more expensive the loan.

Germany has been always paying their debts while African states often cancelled debts after coups...



57/70
@AdriaanGennep
Our present economical & financial model is very dishonest and has approved itself as the highway to hell !

We must adapt conditions and taxes or everything can be axed

With too much competition the system works not anymore, just more conflicts and war

Do we really need more



58/70
@BavosoVincenzo
Problem 1: they do not need to borrow in the first instance. Problem 2: they should not borrow from loan sharks /search?q=#IMF /search?q=#WorldBank /search?q=#globalbanks



59/70
@asparagusn35342
Instead of the endless discussions about reparations for the damage that the west has done to other countries, I propose an immediate cancellation of all debts ' owed ' by developing countries in a full & final settlement of all obligations.



60/70
@Munchausen23
Let me rephrase that. "African Politicians steal 8x more than Germany and 4 x more than the United States "
That's why their populations stay poor, uneducated and exploited.



61/70
@fezgwayi
In South Africa it is the Black people that pay high interests, the very people who werr oppressed and needed to be given a break. I see the global order is for the poor to finance the rich even among countries



62/70
@DriicaaMR
This man is a thief!!! He is destroying the economy!!!



63/70
@Paulo_SemperFi
Empresta-lhes tu



64/70
@Leoncush
Why do we need to borrow the borrower is a slave to the lender says the old book



65/70
@ivandeventer
Why are you reposting this crap, Mike?



66/70
@marleydraque
They also go bankrupt and never pay back any of the money at much higher rates so it isn't true



67/70
@scottpsolomon
Here are 3 podcasts describing how to flip the script:

First podcast


Second podcast


Podcast 3




68/70
@esqparaosoutros
He is a thief. Don’t give voice to this old corrupt man



69/70
@newsage04
The Kenyan President doesn't care. Just pose for pictures with him and give his country another loan. Future Kenyan generations will deal with the high interests rates and costs.



70/70
@direitasnake
Foda-se!




To post tweets in this format, more info here: https://www.thecoli.com/threads/tips-and-tricks-for-posting-the-coli-megathread.984734/post-52211196

Spoiler: larger images

 

[The Amerikkkan Idol]

This shyt is just so frustrating because it seems like White Supremacy is like this fukking blob that just evolves and reforms when you think that you're doing something to defeat that shyt.

I've been hearing about all these African countries on the rise lately and then some shyt like this happens that makes you realize that we as African diaspora people are wayyyyyyyy behind in the game.

I don't know if fukking World War III would hurt or be the only shot that we'd have to make inroads against WS while they're fighting each other.

Damn, 6 years later & nothing's changed.

 

[TheKongoEmpire]

Damn, 6 years later & nothing's changed.

Me, my mother and her husband were having a conversation that stemmed on the current situation in Haiti compared to how it used to be. And she rented about her borderline hatred for the country in his current political situation and compare it to how relatively peaceful it was when she was growing up during the Duvalier era. And she asked why are the African diaspora around the world always going through misery whether it be in another country or the country of their own and me and her husband basically agreed that unfortunately now is not our time. Sometimes we don't realize how long modern human beings have been around.

Just like with everything else with enough time, certain things rise and certain things fall. For any true college football fans in historians, everyone knows that the service academy used to be a juggernaut back in the day now there are not to be taken seriously even if they somehow go undefeated. And it's no different from anything else. We are the original man and we have had our time in the Sun both literally and figuratively and based on the current birth rates the African and the diaspora isn't going anywhere anytime soon. Now is the time to prepare for our opportunity.

We clearly have has a history of making a bad situation worse, from assassinating potential presidents, who truly and I mean truly give a damn about their countrymen, to failed and weak decolonization processes and social changes. But nothing last forever.

PS I'm using talk to text and I didn't bother to edit this post so I'll double back and double check for any grammar and spelling errors.

 

[DeuceZ]

Corruption, bunch of countries had their debt forgiven in 2007 (HIPC) and what the government's do since then? Run up a check that the future generations will be burdened with.... that's a bar by the way, don't ask me how

 

[timeless]

Damn, 6 years later & nothing's changed.

Cause people haven't changed. Our greatest enemies have always been ourselves. Even for the palm colored people. They don't know that they are their own enemy. The system isn't WS, it's control, the Anti-christ-consciousness, possession. It's about taking away and replacing the natural flow of humanity so that a small selection of people can call themselves gods. And they too are their own enemies, because if we were to wake up, they would see that their power is useless. But we make their power strong when we remain dumb.

The fiend makes the dealer richer, but without the fiend the dealer grows poor.

 

[The Fade]

Me, my mother and her husband were having a conversation that stemmed on the current situation in Haiti compared to how it used to be. And she rented about her borderline hatred for the country in his current political situation and compare it to how relatively peaceful it was when she was growing up during the Duvalier era. And she asked why are the African diaspora around the world always going through misery whether it be in another country or the country of their own and me and her husband basically agreed that unfortunately now is not our time. Sometimes we don't realize how long modern human beings have been around.

Just like with everything else with enough time, certain things rise and certain things fall. For any true college football fans in historians, everyone knows that the service academy used to be a juggernaut back in the day now there are not to be taken seriously even if they somehow go undefeated. And it's no different from anything else. We are the original man and we have had our time in the Sun both literally and figuratively and based on the current birth rates the African and the diaspora isn't going anywhere anytime soon. Now is the time to prepare for our opportunity.

We clearly have has a history of making a bad situation worse, from assassinating potential presidents, who truly and I mean truly give a damn about their countrymen, to failed and weak decolonization processes and social changes. But nothing last forever.

PS I'm using talk to text and I didn't bother to edit this post so I'll double back and double check for any grammar and spelling errors.

The subjugation of black peoples is the glue. It keeps everyone else from killing each other even though they have the same problems, even with crime. You have”homogenous” people that still want to kill each other for from disputes from the past but they don’t have resources the world wants so they don’t blast it on the news. If black people controlled their resources then no one else can expand. Yes there is corruption but there are just as many instances of us employing the solution and doing the ideal thing and that thing getting sabotaged. You just cannot win when all other races and their subgroups are fighting you