“The outcome of World Bank and the IMF policies on the Third World has been remarkably similar to what was experienced under traditional imperialism: wage deflation, a loss of autonomy, and agricultural dependency. The big difference is that, in the new system, the sword and the gun have been replaced by weaponized debt.”
After reading “Hidden Repression: How the IMF and World Bank Sell Exploitation as Development” by
@gladstein , you realize that some international organizations, while pretending to be a helping hand, may actually be the boot that prevents developing countries from standing up and thriving.
Many real cases are documented in the book, but one thing in particular stands out and should undeniably raise a red flag (or at least an eyebrow): the billions of dollars loaned by these institutions to authoritarian regimes all over the world.
It is hard enough to hold democratically elected officials accountable, imagine dictators who care only about power and violence.
What do you think they will do when borrowing money they do not have to repay themselves? As always, the ones who pay the price are the most vulnerable.
I started reading this book in El Salvador while visiting blossoming Bitcoin circular economies such as Bitcoin Beach and
@BitcoinBerlínSV . Witnessing them firsthand is powerful, they are living proof that Bitcoin realigns incentives and, in doing so, helps prevent this kind of abuse from taking place.
That is one of the many reasons why Bitcoin is hope.
