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The Saker
A bird's eye view of the vineyard

offsite link The Road to Damascus: How the Syria War was Won Fri Oct 18, 2019 19:21 | amarynth
by Pepe Escobar : posted with permission and crossposted with Consortium News What is happening in Syria, following yet another Russia-brokered deal, is a massive geopolitical game-changer. I?ve tried to

offsite link The Saker interviews Michael Hudson Fri Oct 18, 2019 18:56 | The Saker
Introduction: I recently spoke to a relative of mine who, due to her constant and voluntary exposure to the legacy AngloZionist media, sincerely believed that the three Baltic states and

offsite link Moveable Feast Cafe 2019/10/18 ? Open Thread Fri Oct 18, 2019 16:30 | Herb Swanson
2019/10/18 15:30:01 Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions

offsite link Syrian Army Entering Kobani And Raqqa Fri Oct 18, 2019 04:34 | Scott
Syrian War Report ? October 17, 2019: Syrian Army Entering Kobani And Raqqa On October 16, units of the Syrian Army entered the city of Raqqah for the first time

offsite link Self justifying America is preparing for another groundhog day presidential election Thu Oct 17, 2019 18:13 | The Saker
by Denis Conroy for The Saker Blog No doubt about it; there are no answers, only responses, and the Tuesday, November 3, 2020 elections will probably deliver yet another fake

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Human Rights in Ireland
A Blog About Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

offsite link UN Human Rights Council Should Address Human Rights Crisis in Cambodia Sat Aug 31, 2019 13:41 | Human Rights

offsite link Fijian women still face Human Rights violations Mon Aug 26, 2019 18:49 | Human Rights

offsite link Saudi Human Rights Violation Fri Aug 09, 2019 20:41 | Human Rights

offsite link China?s LGBT Community Mon Apr 15, 2019 19:19 | Human Rights

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link A process not an event. 12:37 Fri Oct 18, 2019 | WorldbyStorm

offsite link Monumental hypocrisy? 10:36 Fri Oct 18, 2019 | WorldbyStorm

offsite link November 5th CLR Meet 08:46 Fri Oct 18, 2019 | WorldbyStorm

offsite link The wisdom of this crowd: Johnson Brexit Plan 07:44 Fri Oct 18, 2019 | WorldbyStorm

offsite link 1989 revisited: 17 October, Honecker ousted 12:36 Thu Oct 17, 2019 | WorldbyStorm

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Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

offsite link IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

Dublin Opinion >>

Credit Suisse Banker Pleads Guilty in Mozambique Loan Scandal

category international | economics and finance | news report author Monday July 22, 2019 23:08author by Kate Zeller - Jubilee USA Network Report this post to the editors

On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country.

Washington DC - On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country. Pearse and six others are accused of taking $200 million in the scheme.

“Mozambique, one of the poorest countries in the world, is dealing with a financial crisis because of the greed of corrupt bankers," said United Nations corruption and finance expert Eric LeCompte and Executive Director of the religious development group Jubilee USA Network. “This behavior is only possible because of a lack of global loan transparency and a lack of public budget transparency in Mozambique.”

US prosecutors argue that Credit Suisse and Russian-based VTB finance group hid secret loans to the Mozambique government by bribing bank and government officials. The loans were supposed to support the tuna fishing industry, but instead supported the outfitting of boats for military attack crafts. When the secret loans to Mozambique were revealed in 2016, the IMF and World Bank cut ties with the country, halting development funding. This year, Mozambique was hit with two cyclones further impacting the debt ridden and poverty stricken country.

"Mozambique is struggling to recover from a debt crisis and terrible natural disasters," noted LeCompte.

Related Link: http://www.jubileeusa.org
author by Tpublication date Mon Jul 22, 2019 23:16author address author phone Report this post to the editors

This form of financial colonialism was well documented by John Perkins who worked for the World Bank and eventually his conscience got the better of him and he revealed all in his book. Confessions of an Economic Hit Man

And many years earlier the economist Michael Hudson wrote in 1972: Super imperialism : the economic strategy of American empire

So giving loans to poor countries to make them poorer and use it as a means to steal all their resources has been part of the plan all along. It is unclear why now they are putting people on trial in court. Perhaps it is American banks are competing with European banks in the robbery and Trump has ordered behind the scenes the investigation so that the competition is removed and American banks can get in there and doing the robbing.

 
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