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Edited on Tue May-22-07 10:14 AM by Peace Patriot
the world--victims of the World Bank/IMF. The loans go to local corrupt elites, they rip off the money and leave the poor to pay the debt, on onerous terms: drastic cuts in all social programs (education, health care, land reform, help for small business--all the things a society needs to create hope and produce prosperity), and the invasion of global corporate predators who dump US or other rich country produce on local markets to kill local food production, set up sweatshops to kill labor rights, and steal the country's natural resources (often leaving environmental destruction). The countries are stripped of sovereignty and self-determination. They become economic and social basketcases like Jamaica and Argentina. And of course, "free trade" (global corporate piracy) is part of this World Bank/IMF picture. Once they are in debt, third world countries are forced to agree to the invasive terms. It is in fact the true purpose of the World Bank/IMF to make the rich richer at the expense of the poorest and the weakest. It is very similar to credit card debt in the US. Skyrocketing health care and education costs force people to use credit cards for these basic needs, then the usury begins--higher and higher interest costs and other onerous terms. Who benefits? The financial institutions--the rich elite.
It has been fascinating--and heartening--to follow how South American countries are fighting back. Argentina had gone belly up, as the result of World Bank loans and IMF policy. The people finally rebelled. A coalition of the poor and middle class went round with tiny hammers and broke every bank ATM display in the country, in protest. Three governments later--in quick succession--they finally got a leftist (majorityist) government to promise to get them out of World Bank debt and never get into it again. Enter Venezuela, flush with oil profits, and having undergone a leftist political revolution with the election of Hugo Chavez (and also the peoples' successful defense of their Constitution and their elected president in the violent rightwing military coup attempt of 2002). Venezuela bought up a portion of Argentina's debt, on easy terms. Argentina began to recover. Venezuela and Argentina formed the new Bank of the South--which Bolivia (new leftist government), Ecuador (new leftist government) and Paraguay (big leftist movement, potential leftist government) have now joined. All are seeking debt relief and financial recovery. Argentina is now well on its way to recovery--all indicators up. Venezuela thus helped to create a healthy trading partner for itself and Brazil. And the thing--this positive thinking, this FAIR DEAL FOR EVERYBODY--is transforming Latin American economics and politics.
THIS is why the Bush State Dept. and its lapdog corporate press (and corporate lapdog Democrats like Hillary Clinton) hate Hugo Chavez and vilify him as a "dictator" and a scary socialist, and furthermore despise the Venezuelan people for supporting him. Because he and the Venezuelan people believe in Latin American SELF-DETERMINATION, and have acted in practical and innovative ways to implement it. Venezuela has helped itself AND its neighbors to stop being the stupid victims of the US (and to a lesser extent the EU) bankers, corporations and the rich elite.
I can see no benefit in the World Bank/IMF except to the super-rich--unless it democratizes. Like the WTO, it is run by the rich for the rich. IF the richest countries of the world really want fair play, and really want to help the third world countries who have been so harmed and handicapped--and, in many cases, utterly ruined--by old and new colonial policies, there are ways to do that. But not with people like the Bush Junta and Paul Wolfowitz, or Corporate Democrats, in charge. It WOULD BE possible with US leadership--if the leader were, say, FDR. Where is the FDR for the World Bank? Where is the "New Deal" for the third world?
But, really, what is happening--at least in South America, and to some extent elsewhere--is a strong and historic democracy movement that is rearranging the financial and political picture to make the World Bank/IMF and the US irrelevant. We have our work cut out for us, if we want to be relevant again, in a positive way, and engage with the world on the basis of FAIR trade (non-monopolistic, non-global corporate predator trade) and peacefulness. To others, we look like a monstrous dying dinosaur. What will it take for our democracy to renew itself? What will it take to bring about American Revolution II?
Here's what it took in South America--in broad outline--the three main lessons for us all:
1. Transparent vote counting (!)
2. Grass roots organization.
3. Think big.
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