Sunday, 21 July 2013

Richest 300 Persons on Earth Have More Money Than Poorest 3 Billion


As we repeatedly focus on wealth inequality in the United States (i.e.; just four hundred persons in the US have as much in assets and income as the bottom 50% of Americans), a video points out the even more extreme global wealth disparity.

There are many reasons for this. Take for example institutional sources that contribute to this trend. The World Bank, for interest, oversees "loans" to developing nations. But by creating long-term indebtedness, these struggling counties end up owing at least $600 billion dollars in interest on loans whose principals have, in essence, already been paid off in actual dollars.
http://www.truth-out.org/buzzflash/commentary/item/18094-richest-300-persons-on-earth-have-more-money-than-poorest-3-billion

The World Bank (and IMF) are tools of those with vulturistic, controlling mindsets.

[Posted at the SpookyWeather blog, July 21st, 2013.]

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