Essay by Eric Worrall
“… higher statutory lending limits, lower equity-to-loan requirements and the use of callable capital – money pledged but not paid in by member governments – for lending. …”
Exclusive: World Bank seeks more funds to address climate change, other crises -document
By David Lawder
5 minute read January 4, 20236:42 AM GMT+10 Last Updated a day agoWASHINGTON, Jan 2 (Reuters) – The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools, according to an “evolution roadmap” seen by Reuters on Monday.
…
The bank said proposals under consideration include higher statutory lending limits, lower equity-to-loan requirements and the use of callable capital – money pledged but not paid in by member governments – for lending.
Development experts say this shift would greatly increase the amount of lending compared to the current capital structure, which only utilizes paid-in capital.
…
Read more: https://www.reuters.com/business/sustainable-business/world-bank-seeks-more-funds-address-climate-change-other-crises-document-2023-01-03/
I find the “Callable Capital” proposal particularly unsettling.
If the Biden Administration is legally able to agree to changes to World Bank governance within the existing charter, without having to ratify any new treaties, this might open a back door for international climate projects to access US taxpayer’s funds which have not yet been paid to the bank, without oversight from the newly elected Republican Congress.
Here we go again.
Read The Confessions of an Economic Hitman. This is the same wolf in new sheep’s clothing.
Andy Espersen :
And just who are “the shareholders” of the World Bank” (other than all the world’s governments)??
And will they agree to such hare-brained suggestion??
Us
It’s our money they are playing loose and hard with
“And will they agree …… ?”
Why not, the shareholder governments have been agreeing to them for years. Except that some of them will agree but not actually do anything.
But MANY of them give very little to the “World Bank”.
Western democracies and Japan primarily fund the World Bank and get voting numbers somewhat proportionately to the money donated. That is why the WB president has always been a US Citizen.
Now, try to Google the actual current funding of the World Bank by member nations. That seems to be somehow hidden by Google algorithms.
Try here
https://finances.worldbank.org/
I googled several searches regarding nations funding the world bank, funds provided by member nations, etc. I got several links to the world bank website never found the actual yearly amount paid into the bank by each nation. Going there was even worse. They mostly want to provide information on all the loans they are making, you know, all the GOOD they do.
“this might open a back door for international climate projects to access US taxpayer’s funds which have not yet been paid to the bank, without oversight from the newly elected Republican Congress.”
might? – would!
Basically, the World Bank could just print money. Terrifying.
The “money” the world bank gets is already being “printed” by the member nations who all have national “banks” that are printing “money” continuously.
Back to the gold standard and eliminate the federal reserve and all fiat currency.
While doing so, eliminate at least 50% of the funds held by university foundations and, “private foundations” that have ever, in anyway, injected themselves in politics, especially Gates, Southern Poverty Law Center, and other NGOs, then force cash held by WHOEVER to be converted into the new gold backed currency, with appropriate taxation.
After that is done. eliminate the IRS by instituting the Fair tax while converting ALL tax differed savings to private funds with an appropriate recapture of taxed differed through 453B, 401K, IRA, etc. provisions.
The problem with the gold standard is that the supply of money needs to grow at the same rate that the economy is growing. It’s pretty hard to dictate the rate at which gold supplies grow.
The economy long ago outran the gold supply. That is why it was demonetised in 1971, which was already too late.
Almost all of central and north Nevada is FULL of gold. Either way, money should be backed by something, and not the “full credit of the US” which is close to net zero today.
Short story. When I was first in Vegas, there was an add in the classified for land for sale cheep on the Muddy River. A friend and I drove out to the site, miles down a dirt road. Lake Mead was visible in the far distance but the Muddy River wasn’t even muddy, it was late summer.
There was an old mobile home beside the road. Not far from the home was a backhoe beside a hole in the sand with a gas water pump, and not far from that was a sluice box.
When we drove up a desert rat, meant in a GOOD way, came out of the trailer. He asked if the old lady who owned the property nearby was advertising her land for sale again. He said don’t bother because she would not include the mineral rights. He explained that he dug the hole for the water to seep in so he could run his sluice. It would fill enough every couple of hours, and he was getting enough gold to live on.
Now when we were talking we thought we should bring some sand back to see what was what, but then FORGOT to get some in the truck. When we got home we had the aw-crap moment, but then we emptied our sand filled shoes into a PIE TIN, panned out the sand to the BLACK SAND, getting about a thimble full, and took it to be assayed. I think it was $30.00 for gold and $5 more for silver, I just remember $35.00 total. I was making about $4.00 an hour so it was over a day’s pay, but went ahead and did it. I don’t remember the actual results but they were good enough that the assayer tried to find out where we got the black sand in an unprofessional manner.
Now this ALL OVER Nevada, and what we got was from the very top of the sand, the deeper you go, the higher concentration of gold. Just sayin.
As we are all shareholders, I will expect my personal invitation
Well the net zero fantasy will require a lot of loose change like EV public charging-
https://www.forbes.com/sites/bradtempleton/2021/01/25/can-electric-car-charging-be-a-business/?sh=7e9a718d71e9
and the charge plugs won’t take abuse like fuel nozzles so pay attention-
https://www.youtube.com/watch?v=PSosQbs_c88
https://www.macheforum.com/site/threads/anyone-else-experience-a-burnt-melted-charging-port.13608/
Development experts say…
Give us yer feckin munny
An out-and-out admission that they’re promoting and selling junk
Some of us already knew – but thanks anyway
Your government was elected to husband your taxes, to spend carefully and preserve resources.
Suddenly the Word of God: It aint squandering to send your taxes wandering into the hands of the first ten crackpot schemes to Fight Global Warming!
What’s the Climate’s credit score?
Politicians demanding looser credit standards for minorities, was the direct cause of a recent banking crash in the US. Looks like the World Bank is determined to repeat history.
It is time we had a revolution folks!
Interesting how very wealthy elites who are insulated (in their minds) from financial shocks are happily changing rules to throw other people’s (taxpayers and investors) money into a bonfire of idiocy. There really is either a conspiracy or a massive case of crowd delusion aimed at destroying modern society.