More UN financial BS
The UN Secretary General issued a report on restructuring the financial architecture of the world in May 2023. Clearly they did not want people to understand it
In this case, the UN suggests that even though countries cannot pay back their loans, they should be given larger loans with longer terms to pay them back.
One way to make the ideas unintelligible is to create extraordinarily long sentences, so by the time you get to the end yo have forgotten the beginning and the meaning is lost.
Here is one example that spit out 81 words before a period appeared:
“As noted in Our Common Agenda, a coordinating body through the Biennial Summit, building on the spirit of earlier proposals for an “Economic Security Council”, would be a natural venue to address immediate issues, including the promotion of ultra-long-term financing for sustainable development and a Sustainable Development Goal stimulus for all countries in need, and longer-term issues, such as making the international financial architecture fit for purpose and resilient to global crises, including food, energy and financial crises.“
And they call this a solution?
“Lower the cost of sovereign borrowing and create a lasting solution for countries facing debt distress”
Here are the Conclusions on page 31
OUR COMMON AGENDA POLICY BRIEF 6: REFORMS TO THE INTERNATIONAL FINANCIAL ARCHITECTURE31
Conclusion
The reforms outlined in the present policy brief are motived by the failure of the current international architecture to fulfil its core tasks and to support long-term stable financing for the Sustainable Development Goals, including investments in the rights to education, health and social protection.
The Sustainable Development Goal and Paris Agreement targets will clearly not be met if the international financial architecture does not channel resources at scale and speed to the world’s most vulnerable economies.
This failure poses a growing and systemic threat to the multilateral system itself, driving deepening divergence, geoeconomic fragmentation and geopolitical fractures across the world.
[In other words, lend lots more money or the financial system will collapse—though wasn’t the financial system’s problem too much unsustainable debt that got us here to the brink of financial collapse? I suspect the PTB want a lot more borrowing to stabilize things for a little while, making things more unstable over the medium term—allowing them to crash the whole thing when they have reached the right time for themselves to justify the rest of the Great Reset.—Nass]
To avert such outcomes, we must pursue ambitious reforms and advance on all the proposals in the present brief. They should be regarded as a paradigmatic shift in the structuring of international economic and financial relationships that, as a package, support the convergence of countries towards sustainable development.
We need to enable more sustainable and inclusive development pathways for all countries, aligned with the Sustainable Development Goals and anchored in “beyond GDP” metrics.
This will require new forms of international cooperation, underpinned by an architecture fit for purpose in the twenty-first century, across the financial and monetary system, tax, trade, environmental stability and climate action, and other development issues.
Our current multilateral system does not fit this bill, but it can, with the reforms that I propose in the present policy brief.
[WTH does “beyond GDP” mean? Beyond arithmetic? Are you reading this as gobbledygook the way I am?]
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Alan
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Big business does not like competition and it has been doing everything possible to eliminate it through takeovers. In addition we now really live in a corporatocracy where business also controls governments. Governments also believe they can control the economy. Whilst we allow these fools to do this the economy will get worse and worse. It is vital that we have free, competitive trade and let the markets control what happens, in other words the customers will be in control. It might seem to be chaotic but it will work if nobody interferes. The role of the governments should be to ensure free trade can work.
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Michael Abbott
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International Tax Cooperation means a uniform tax for everybody set by the World Government.
Global Economic Governance means World Government
Development Making means here’s the money you need but the World Government sets the terms for getting it and what you do with it.
Financial System Rules and Regulations means World Government running the finance system of every country. Should go down well with the Americans.
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