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Global Crisis!
Destruction of National Economies; Financial Warfare

I first encountered this information in an article, "Financial Warfare," By Michel Chossudovsky, located on the Web at http://www.transnational.org/features/chossu_financial_war.html. In summary, here is what's happening:

Who are the GIV's? Institutional speculators -- the world's largest banks and brokerage houses:

Why?

"The appropriation of global wealth through [the] manipulation of market forces"

Where has this happened?

Indicators of the crisis:


Current News on the Crisis

7-15-99 from OneWorld:

"The UN estimates that if funds were diverted back into health and education from debt repayment, the lives of seven million children could be saved within a year. That's 134,000 children a week."

7-14-99 Jubilee 2000 site represents and international movement calling for the cancellation of unpayable debts by third world countries, by the year 2000.

"Almost 20 per cent of Mexicans have no cash income; more than 30 per cent make less than the minimum wage of $3 a day."

6-16-99 UNICEF calls for debt cancellation... "the UN body says, denies women and children their basic rights."

6-13-99 50,000 people protest poor country debts in London

3-15-99 Africa's debt called a new form of slavery... "Africa's debt burdens, says Jesse Jackson, "are the new economy's chains of slavery"... calls the debt "a new form of slavery as vicious as the slave trade.".. Historical studies such as Joseph Miller's Way of Death, recounting the Angolan slave trade, remind us that debt was one of the driving forces behind the deadly commerce... Debt is morally "unsustainable" when keeping up with payments takes money from the basic necessities of life."


Please send comments to: Colby Glass, MLIS

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