UN Secretary General Antonio Guterres ready to go off :goddamn:

Baka's Weird Case

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UN chief slams 'myths, delusions and falsehoods' around inequality

The UN secretary general will today deliver one of his most stinging speeches to date, attacking the “myths, delusions and falsehoods” around international progress on equality.

In an unusually strongly worded speech, António Guterres urged major reform to the UN security council, the International Monetary Fund and the World Bank, to address systemic inequalities exposed by the coronavirus pandemic.

The health crisis had revealed the world’s fragility and “laid bare risks we have ignored for decades: inadequate health systems; gaps in social protection; structural inequalities; environmental degradation; the climate crisis”, he said.

He said the pandemic was exposing “fallacies and falsehoods everywhere: the lie that free markets can deliver healthcare for all. The fiction that unpaid care work is not work, the delusion that we live in a post-racist world, the myth that we are all in the same boat.”

The anger of the #MeToo and Black Lives Matter movements were a measure of “utter disillusionment with the status quo”, Guterres said, while colonialism and patriarchy were historical sources of inequality.


“Let’s not fool ourselves. The legacy of colonialism still reverberates. We see this in economic and social injustice, the rise of hate crimes and xenophobia; the persistence of institutionalised racism and white supremacy.

“We see this in the global trade system. Economies that were colonised are at greater risk of getting locked into the production of raw materials and low-tech goods – a new form of colonialism. And we see this in global power relations.”

Speaking from the UN’s New York headquarters, Guterres was delivering the annual Nelson Mandela lecture – on what would have been Mandela’s 102nd birthday –, to an online audience for the first time in its 18-year history.

Africa, Guterres said, had been a “double victim”, first because of colonialism and second, because African countries were underrepresented in the international institutions set up after the second world war.

“The nations that came out on top 70 years ago have refused to contemplate the reforms needed to change power relations in international institutions. The composition and voting rights in the UN security council and the boards of the Bretton Woods system are a case in point. Inequality starts at the top: in global institutions. Addressing inequality must start by reforming them.” :wow:
 

DEAD7

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Sounds like a wealth transfer is brewing from American tax payers to foreign bodies...:unimpressed:I'm gonna stay tuned, and wait for the proposal(s).
 
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bnew

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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...

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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

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