In a surprising show of unity, world leaders at the G20 summit meeting in London have pledged $1.1 trillion in loans to help poor nations weather the crisis. They also agreed to sell IMF-held gold to poor countries.
I wonder how that works:
Fleecing the G-20
Besides diamonds, isn't Gold one of Africa's largest natural resources?
When Silence is Golden--gold mining in Africa
If you have a chance over the weekend, watch this documentary to see exactly how the IMF and World Bank REALLY work.
I saw this a few years back in a sociology class I took.
Utilizing excerpts from the award-winning non-fiction text "A Small Place" by Jamaica Kincaid, Life & Debt is a woven tapestry of sequences focusing on the stories of individual Jamaicans whose strategies for survival and parameters of day-to-day existence are determined by the U.S. and other foreign economic agendas. By combining traditional documentary telling with a stylized narrative framework, the complexity of international lending, structural adjustment policies and free trade will be understood in the context of the day-to-day realities of the people whose lives they impact.
Well, maybe the World Bank and the IMF will "handle" things differently this time?