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Banking On Disaster

Banking On Disaster

It is funny how bent politicians and brutish financial institutions manage to twist things to suit their purpose, irrespective of how the house of cards – in which most of the world population lives – collapses.


 

Consider this headline: “World Bank calls for action to prevent global catastrophe”

 

When I first saw it, for one brief shining moment, I thought the Bank had suddenly unearthed the truth about climate change. But reality quickly washed over me further down the article, which had been penned by Merle David Kellerhals Jr. and distributed by the U.S. Embassy in New Delhi.

 

The World Bank was actually calling for greater action by nations to curb the current “financial and economic crisis” which it termed a potential “human and development calamity.” Ironically, the World Bank identified the potential threat as chronic hunger – caused not by climate change, but by a shortage of funds in large banks and corporations! To solve this hunger, they suggested, incredibly, that a sum of ONE TRILLION DOLLARS be made available to the ‘Terrible Two’ most directly responsible for both climate change and chronic hunger across the globe.

 

In the words of IBM, it’s time we sat down to THINK!

 

The World Bank and IMF are jointly and severally responsible for financing a major part of the destruction of forests and other natural ecosystems across the globe for over 50 years.

 

Fact: Deforestation accounts for almost 20 per cent of the planet’s greenhouse gas emissions.

 

The World Bank and IMF are jointly and severally responsible for transferring wealth from the poor to the rich for over 50 years. This was done by financing dictators and corrupt governments as part of the policy of these malevolent institutions to turn forests, wetlands, pastures, rivers and lakes into commercial infrastructures that concentrated wealth in the hands of a powerful few.

 

Fact: There are more hungry humans on Earth today than ever before in history. This hunger is directly attributable to the death of soils and the extinguishing of wild foods that ordinary people were once able to access from rivers, lakes, forests and seas.

 

If you were asked to decide whether or not to hand over tax money to the Columbian Drug Cartel – to set up drug rehabilitation clinics – would you agree to do so? I suspect not. In which case, what earthly reason can there be for us to agree to bank on disaster by donating our hard-earned tax money to failed economists and bankers, just so they can, in their own words, take “quick, forceful and global action” that will effectively complete the planet destruction job they have been working at for the past several decades?

 

Bittu Sahgal, Editor, Sanctuary Asia magazine

Sanctuary Asia, Vol. XXIX No.3, June 2009

 
 
 

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