How is this legal, though? So any fascist right wing administration can do a drive by borrow of a 500 Billion dollar loan from the IMF and just shackle the country to the US government forever?
Currently listening to Debt: The First 5,000 years. In it the author mentions that most of the huge loans that break the backs of poor countries economies were taken out by right wing dictators. Who probably just pocket the cash in a Swiss bank account.
It's profoundly fucked up, but that's how they want it.
How is this legal, though? So any fascist right wing administration can do a drive by borrow of a 500 Billion dollar loan from the IMF and just shackle the country to the US government forever?
Yes. That is the IMF's raison d'être.
Currently listening to Debt: The First 5,000 years. In it the author mentions that most of the huge loans that break the backs of poor countries economies were taken out by right wing dictators. Who probably just pocket the cash in a Swiss bank account.
It's profoundly fucked up, but that's how they want it.