If all nations repudiated odious debt the banksters would be in trouble. Look at the USA where Bush invades nations without congressional declaration of war, where funds are stolen from the people and given to bankers and corporate heads, where congress votes for themselves pay increases and retirement packages, where czars are created and given huge salaries, benefits and tax incentives. All of these debts should be considered odious as well. Tea party and occupy wall street UNITE against FED
This is so childish! All cases cited were political decisions, not actual acts of justice.
Imagine a world in which the creditor has the burden of proving where the money went. :) Or if companies could simply denounce contract they no longer like, blaming them on irresponsible managers. :) Or borrowers who would convince the jury they didn't benefit from the money for development because they drank most of it. :)
Seriously, people, watch who you vote for, cause it has consequences.
I love when IMF and others frauds keep lecturing developing coutries on Responsibility. wheres IMF responsibility to give a loan to contries with dictators. WHy is ppl have to pay when they didnt see those money when they have no voice in how its used? Basically Responsibility is for the weak and powerless. the powerful and strong can just do as they pleased. To pay the loan with HUGE interest rates millions will die of hunger of treatable dx.
@Yaheuben66 the FED does not print a single dollar. Nor does it incur debt as a proprietary action; instead it usually alters the reserve rate. Listening to Ron Paul does not make you an expert on the monetary system.
But the Fed does set the interest rate and it trades USA bonds for dollars that the treasury prints. Our real problem is banks using fractional reserve banking which gives them the power to create money.
We would have a better system if OUR government actually controlled this and not the fed or banks. We should use our account at the Treasury for all transactions. We can do that today with the technology we have.
The banks have been robbing the people far too long.
The Federal Reserve doesn't print any money. That is done by the Bureau of Engraving and Printing and has nothing to do with the money supply. The vast majority of the money supply is bank credit.
You do realize that the US public "debt" is the private sector's savings. Less debt, less savings. If you reduced the US debt to 0, you would also be reducing the private sectors stock of savings to 0. It is a basic accounting identity. Every debt is someone's asset.
The imf is nothing but another evil hand of the zionist pigs of israel.The african humanities should tell them to fck off before they spear their asses.Pardon my Canadian.
Who were the lenders who were lending Saddam that money? I know some was the US... but who were the major creditors?
ZwolfZki 4 months ago
If all nations repudiated odious debt the banksters would be in trouble. Look at the USA where Bush invades nations without congressional declaration of war, where funds are stolen from the people and given to bankers and corporate heads, where congress votes for themselves pay increases and retirement packages, where czars are created and given huge salaries, benefits and tax incentives. All of these debts should be considered odious as well. Tea party and occupy wall street UNITE against FED
DLopezforcongress 4 months ago
So is the Global BAIL-OUT which "isn't used for the benefit of the people" also an odious debt?? HELL YES!!!
ejbh3160 4 months ago 3
This is so childish! All cases cited were political decisions, not actual acts of justice.
Imagine a world in which the creditor has the burden of proving where the money went. :) Or if companies could simply denounce contract they no longer like, blaming them on irresponsible managers. :) Or borrowers who would convince the jury they didn't benefit from the money for development because they drank most of it. :)
Seriously, people, watch who you vote for, cause it has consequences.
schmoukiz 4 months ago
I love when IMF and others frauds keep lecturing developing coutries on Responsibility. wheres IMF responsibility to give a loan to contries with dictators. WHy is ppl have to pay when they didnt see those money when they have no voice in how its used? Basically Responsibility is for the weak and powerless. the powerful and strong can just do as they pleased. To pay the loan with HUGE interest rates millions will die of hunger of treatable dx.
dharmaatdawn 4 months ago
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1:37 -- Oh yeah, of course; was the day I awoke to this strange sound..!!
GriebKyle 4 months ago
Comment removed
GriebKyle 4 months ago
and what about the "debt" that we incur with every dollar printed by the private bank, "the Federal Reserve"?
Why do I pay taxes to pay a debt I didn't agree to?
Yaheuben66 4 months ago 11
@Yaheuben66 I totally agree....
ytMarkcg 4 months ago
@Yaheuben66 the FED does not print a single dollar. Nor does it incur debt as a proprietary action; instead it usually alters the reserve rate. Listening to Ron Paul does not make you an expert on the monetary system.
charbroiledmonk1033 4 months ago
But the Fed does set the interest rate and it trades USA bonds for dollars that the treasury prints. Our real problem is banks using fractional reserve banking which gives them the power to create money.
We would have a better system if OUR government actually controlled this and not the fed or banks. We should use our account at the Treasury for all transactions. We can do that today with the technology we have.
The banks have been robbing the people far too long.
CosmosPrivateer 4 months ago
@CosmosPrivateer i agree.
charbroiledmonk1033 4 months ago
@Yaheuben66
The Federal Reserve doesn't print any money. That is done by the Bureau of Engraving and Printing and has nothing to do with the money supply. The vast majority of the money supply is bank credit.
WilhelmDrake 4 months ago
@Yaheuben66
You do realize that the US public "debt" is the private sector's savings. Less debt, less savings. If you reduced the US debt to 0, you would also be reducing the private sectors stock of savings to 0. It is a basic accounting identity. Every debt is someone's asset.
WilhelmDrake 4 months ago
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@Yaheuben66 Watch Real footage of Real banks causing Real problems at UmotionS.com.
See the trailer at my channel with the link in it’s description.
DedmanUmotionS 4 months ago
The elite Psychopaths need to pay back their own debt - and a little extra for the millions slaughtered, properties destroyed, resources stolen.
topsham69 4 months ago 3
Africa??????
What about America????
The banks, fed, government and big corporations are doing the same thing in America.
Almost all of Americans debt is odious debt.
The only way to save the current system is to remove all debt public and private from the backs of the people.
Debt is just a bunch of digits and paper anyway.
CosmosPrivateer 4 months ago 8
@CosmosPrivateer
The american case is easier,
just go to wall street with some torches and guilhoutines and your debt is gone
StraussBR 4 months ago
Serious, well informed discussions, thanks very much , Paul and the Real News.
soulwam 4 months ago
Zionism is Satan's synagogue and they follow the Antichrist.
RandallSteen 4 months ago 2
The imf is nothing but another evil hand of the zionist pigs of israel.The african humanities should tell them to fck off before they spear their asses.Pardon my Canadian.
JumpnEvolution 4 months ago