Bonum Certa Men Certa

Microfinance the Lesser-known Dark Side of the Gates Foundation

Clinton family



Summary: Articles that cover microfinance in the context of robber barons help show that microfinance to money is like Microsoft to life

MICROFINANCE or micro-lending is a subject we covered in the context of the Gates Foundation [1, 2, 3] and the Grameen Foundation, which has roots in Microsoft [1, 2, 3, 4, 5, 6, 7] and is connected directly to the Gates Foundation through collaboration. But what exactly is it that they do? Welcome to the world of micro-lending -- a world where even the world's poorest people get exploited for whatever they have left, be it hard labour (being forced to endlessly produce to meet quotas, in order to pay back unwanted loans), prostitution, and whatnot. In order to explain this predatory segment of the financial industry we can firstly recommend the following video:



15M





For a more direct explanation about micro-lending, use the links at the top (e.g. [1, 2]). This is a subject that we covered many times before and this time we cover it using news from the past 2 months. The short story is that the Gates Foundation is pushing loans. A fashionable way to do so as of late is to offer mobile phones in some very poor countries. While this can be painted as donation of means of communication, this is actually a Trojan horse for predatory banks from the West (remember that Bill Gates is investing in Goldman Sachs, which is controversial because Goldman Sachs monetises famine). What Gates does here is akin to giving poor people the 'gift' of debt, i.e. greater dependence on amoral or immoral corporations from the West. What does that lead to? Let's look at some news.

One of our favourite journalists as of late explains quite nicely why the Gates Foundation is preying on the most vulnerable, who need to borrow money just to eat:

Christen says the philanthropy has found in its exploration of financial services that when you go into a poor community they get 5-to-10 requests for savings services for every request for a microloan.

“In a visit to Tanzania,” Melinda Gates said. “I was just blown away to see people standing in a line at the bank for three hours.”

The poor want to save, she said, and the Gates Foundation hopes to launch a revolution in this area of financial services for the poor.

Here’s the foundation’s statement on its new push into micro-savings and a list of the first round of grants.


This is also a business opportunity for the likes of Monsanto, which the Gates Foundation invests in. The philanthrocapitalism.net Web site has this to say: "The mere thought that the Grameen Bank might be taken over by the government of Bangladesh and that Muhammad Yunus, its Nobel Peace Prize-winning founder, might be forcibly retired, is shocking. But senior people inside the world’s best-known microfinance institution fear that this may happen, perhaps quite soon. Already, senior Grameen staff have had to phone each of the bank’s branches to refute press reports that Mr Yunus had resigned, reports that had threatened to panic savers into withdrawing their money and borrowers to stop repaying loans."

“This is also a business opportunity for the likes of Monsanto, which the Gates Foundation invests in.”Pay careful attention to this Web site, philanthrocapitalism.net, which shows Clinton's continued support for Gates' agenda and Microsoft's agenda too (they know they would be wise to hang out where the money is [1, 2] and their daughter recently married a Goldman Sachs investment banker).

Our reader Toby had more to say about this subject of microfinance: "get them participating in the usury system... billionaires have EVERY RIGHT to skim from the world's poorest... meanwhile, credit card companies are offering 30% interest to Americans (and canadians iirc)..."

Toby linked to this new Bloomberg article from which he quoted: "Andhra Pradesh, where three-quarters of the 76 million people live in rural areas, suffered a total of 14,364 suicide cases in the first nine months of 2010 [...] “Selling debt is like selling drugs,” says Harper, 75, the author of more than 20 books on microfinance and other topics. “Selling debt to illiterate women in Andhra Pradesh, you’ve got to be a lot more responsible.”"

Quoting further from this article of strong content:

More than 70 people committed suicide in the state from March 1 to Nov. 19 to escape payments or end the agonies their debt had triggered, according to the Society for Elimination of Rural Poverty, a government agency that compiled the data on the microfinance-related deaths from police and press reports.

[...]

She says she ran away from home after collectors began harassing her. She took out multiple loans beginning in 2005, and she names Spandana as one of the lenders.

Some of the money paid for the funeral of her eldest son. When she fell behind on payments, she says loan officers threatened to humiliate her in front of neighbors and pressed her to sell her small grandchildren into prostitution.


In the same opportunity Toby has also shared the following new comment, which relates nicely to the previous post:

In establishment political discussions no one is supposed to consider that some of the powerful people being discussed really are making decisions based on goals they want which are nasty and immoral.

But instead of being able to bring motive into analysis, we robotically repeat things like:

"Never attribute to malice that which is adequately explained by stupidity"

Which is not an argument at all, but a command in the form of an aphorism, designed to cut off, and not further, rational analysis of what goes on around us.

Due to this muting by aphorism, we're supposed to assume that, yeah, the people around us, yeah *they* may have selfish or harmful motives at times (or certain people more so), but, no, no, we mustn't speak that way abut the powerful.

No matter what the subject is, we aren't supposed to question the Honorable Intentions of our leaders. Not even when they're lying to force the nation into a murderous invasion and occupation for reasons clearly against any sane conception of the 'national interest' (i.e., the interests of us inhabitants of the nation) but which did clearly benefit the ideological convictions, political fortunes, and economic connections of the government which did so.

So, while pundits and establishment discussants may wish us to avoid any analysis of political decisions which is allowed to consider malice as a reasonable aspect of intent, I don't think sane people should similarly refuse.

Talk radio certainly doesn't refrain from ascribing nefarious motives to every Democrat and liberal, and in no way is it somehow dignified or noble to decide that in response, we'll cut off that part of our rationality which has to consider why humans in positions of power might want to do what they do.


On January 10th, Dr. Glyn Moody had drawn some more attention to the problem at hand. "More World Bank fail, in Uzbekistan," he called it, quoting: "Most disturbing was the Bank's underreporting and minimizing of child labor, says Ezgulik." It's the same problem Bloomberg noted in relation to microfinance.

An Uzbek human rights group concerned about the World Bank's failure to concede state control of agriculture and the extent of child labor in Uzbekistan's cotton industry has received an acknowledgement from the Bank about its concerns.

[...]

Ezgulik evaluates a World Bank review of a $67.9 million loan to Uzbekistan for rural enterprise support, granted in 2008 for the period of 2010-2015, to extend a previous project from 2001-2008. The report makes certain assumptions that Ezgulik vigorously challenges: that farm reforms are underway; that collective farms were abolished; and that private farms were established in their place. Instead, Ezgulik explains, farmers are heavily restricted, are still forced to sell quotas to the state at fixed prices, and are dependent on local administrators for loans and supplies. This situation provides an incentive for bribery so that farmers can get better resources and avoid penalties for failure to meet their quotas.


In India it has become commonplace for farmers to commit suicide by consuming Monsanto pesticides. The combination of GMO (patented seeds) and loans is an harmonious-and-nonetheless-lethal one, yet Gates supports it while sponsoring the press that covers the subject because it helps silence opposition.

Recent Techrights' Posts

Why We Support Richard Stallman and You Probably Should Too
It's not about being "Richard Stallman fan", it is about maintaining the right to hold positions (on technology) like his
Some Large German Media Covers Richard Stallman's Talks in Germany Earlier This Week
LLM-based chatbots are just "bullshit generators" (as he has long called them)
Trouble in Red Hat/IBM and a Retreat to Ponzi Economics in Search of Wall Street Market Heist
Would you invest your life savings in this kind of crap?
Who Asked Software in the Public Interest (SPI) for a Refund? ($100,000, Resulting in Losses of $267,201 in 12 Months, Highest-Ever Losses)
The IRS does not reveal who or what's tied to this refund (or the cause/reason)
 
Links 23/10/2025: LLM 'Hallucinations' (Defects) in Practical Code 'Generation', China Becomes More Economically and Technologically Independent
Links for the day
Linux Foundation Uses LLM Slop to Promote Microsoft in Linux.com (Again), Rendering It a Linux-Hostile Slopfarm
Openwashing with slop by "Linux.com Editorial Staff", which basically seems to be a bot
Links 23/10/2025: Windows TCO Galore and "The Internet Is Going to Break Again"
Links for the day
Social engineering attack: Debian voted to trick you on binary blobs
Reprinted with permission from Daniel Pocock
Techrights Will Always Stand for Women's Rights
We even invest money - personal savings that it - in our principles
Certified Lawyers Should Know Better (Than to Intimidate Us With Man Who Drives on Motorcycle Through a Really Bad Storm Between Distant Cities, Then Collects Photos of Our Home)
Mentioning someone was in prison for bad things isn't a crime, it's a public service
The "AI" (Slop) Bubble is Already Imploding
"ChatGPT Usage Has Peaked and Is Now Declining, New Data Finds"
The So-called "Sexy" Buckets (AI, Quantum) Cannot Save IBM From Reality, Shares Tank
"No matter how much financial hocus-pocus they use to reclassify revenues to land in the "sexy" buckets (AI, Quantum), it still smells old and musty - just like this company."
Paul Krugman is Wrong About the Scope of Mass Layoffs in the United States
A few years ago society was accelerating its journey towards feudalism, boosted by COVID-19
Links 23/10/2025: Proprietary Blunders and CISA's Latest Disclosure of Holes
Links for the day
Gemini Links 23/10/2025: Fast Past (F1), 99.9% Uptime
Links for the day
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Wednesday, October 22, 2025
IRC logs for Wednesday, October 22, 2025
Slopwatch: Google News is Promoting Fake 'Articles' About Fake Xubuntu, Fake Articles About Replacing Windows With GNU/Linux
The quality of the Web deteriorates and unless someone cleans up the mess, real sites will lose an incentive to produce anything
When "AI Layoffs" Mean Layoffs Due to the "AI" Bubble Popping
many people that are laid off by Microsoft claim to be specialists in "AI"
Mysterious grant forfeited, $100,000 from Software in the Public Interest accounts 2023
Reprinted with permission from Daniel Pocock
Evidence: bullying, student union behaviour: Armijn Hemel's FSFE resignation
Reprinted with permission from Daniel Pocock
Evidence: psychological abuse, stalking, Galia Mancheva, Susanne Eiswirt ignored by FSFE judgment for Matthias Kirschner
Reprinted with permission from Daniel Pocock
Helping FSFE scam victims and conference organisers
Reprinted with permission from Daniel Pocock
Nigerian fraud in FSFE constitution
Reprinted with permission from Daniel Pocock
Worrying and Amusing Stories of "Clown Computing" Gone Awry
Many of these disasters could be avoided
Links 22/10/2025: Amazon Plans to Replace Workers With Robotics, AWS and Clown Computing in General Ridiculed
Links for the day
Gemini Links 22/10/2025: Niri Completely Changes Multitasking and Overview of Diff-ers
Links for the day
Links 22/10/2025: Study on Misinformation by Slop and Heavily Debt-Sabbled Microsoft OpenAI (ClosedSlop) Uses "Browser" as Gimmick/Distraction
Links for the day
They've Already Spent Close to a Million Dollars on Lawyers and Sent Us About 50 KG of Legal Papers (Sponsored by Mysterious Third Party) to Try to Censor Techrights, Without Success
They try to overcompensate with sheer volume for a lack of solid, clear arguments (we are the victims here)
12 Months Ago the 'Hulk Hogan of UEFI' Officially Went 'Tag-Team'
We're actually sort of flattered or proud that such despicable people are so desperate to censor us
"Cloud Computing" Was Always a Joke, But This Week Was the Punchline
Maybe stop following tech trends and fashions
"Cloud Computing" Does Not Mean Safety
Fault tolerance is related to the notion of software freedom
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Tuesday, October 21, 2025
IRC logs for Tuesday, October 21, 2025
The Fall of Windows: From Something to Nothing
Of course Microsoft will pretend everything is fine and "just trust the hey hi" (AI)
Sounds Like Fedora is Ready to Become Less of a Slave of Microsoft (GitHub)
This seems like a belated move in a positive direction
XBox is a Dead Microsoft Product in a Dying Industry
It's probable that another wave of XBox layoffs is just over the horizon (maybe even before month's end)
Progress on Techrights Site Search
Fun times
IBM's Bluewashing of Red Hat Means the Layoffs Are Silent, Barely Reported
Don't wait to hear about "Red Hat layoffs"
Gemini Links 21/10/2025: Happy Disconnection, AWS Falling Apart, Closing of Gemlog Blue
Links for the day
Full Audio of Today's Richard Stallman Talk in the Technical University of Munich
Free/Libre software and freedom in the digital society
Microsoft XBox is Just Vapourware (Promises of Hardware That Doesn't Exist), Real Products Perish
just as developers lose interest in developing for XBox Microsoft is increasing the costs imposed upon them
Slopwatch: Fake Articles (Slop) in "Linux" Clothing in Google News (Noise)
all about what Google does
Links 21/10/2025: Even "Inventor of Vibe Coding" Rejects Vibe Coding, USPTO Experiments With Slop in Examination
Links for the day
Richard Stallman Talk Now Available for Viewing (Archived Copy, Not Live-streamed)
This recording is over 2 hours old
Links 21/10/2025: AWS-Induced Chaos and Social Control Media Curbs
Links for the day
Gemini Links 21/10/2025: Programming, StarGrid, Brand-New Palm OS Strategy Game in 2025, and Chatbot as Addiction Mechanisms
Links for the day
The African Lion and the American Cowards
Safaris exist for people to watch and enjoy animals
Amazon Web Shenanigans Perfectly Timed for Today's Talk by Richard Stallman
Maybe listen to him instead of looking for excuses to ridicule the messenger
Mission:Libre Has Taken Off (Project by Carmen Maris)
there will be a lot more to report on next month (after the event)
Techrights to Publish More EPO Leaks Next Week
We're meanwhile also doing lots of work on search, whose interface now looks better
Links 21/10/2025: 'The Lost Art' of Neon Signs and Twitter (X) to Enable Identity Theft (or Handle Theft) as a Service
Links for the day
Plagiarism With LLM Slop: Hindustan Times (HT Digital Streams Limited) Has Become a Slop Factory/Hub
What a disgrace
A radical proposal to keep your personal data safe, by Richard Stallman
"The surveillance imposed on us today is worse than in the Soviet Union. We need laws to stop this data being collected in the first place"
Next Week We Launch Search at Techrights
We're planning to launch it some time next week. Maybe Tuesday, maybe Thursday.
Talk by Richard Stallman Will be Live-streamed in Less Than 10 Hours
Happy hacking
"No Kings" in the Software World (GAFAM Should Not Exist, Either)
"No Kings" is a good slogan. Let's start by ridding ourselves of masters, not only those who reside in DC or visit DC
Every Morning
Bugs/edge cases combined with automation can spell disaster
Insane, Deliberately Dishonest, or Just Another Bigot?
very intellectually-dishonest human being
A Lot of Techrights is Built on Perl
Perl also runs the sister site
The Register MS Selling Slop for Microsoft (Vapourware, Ponzi Scheme, False Claims)
What will be left of The Register MS if it keeps repeating falsehoods and looking to profit from Ponzi schemes?
analytics.usa.gov Says Less Than 14% of Web Requests (to Government Sites) Come From Vista 11
Vista 11 was released more than 4 years ago!
People Who Attempt to Take Down Correct Information Need a Doctor a Day
“Journalism is printing something that someone does not want printed. Everything else is public relations.” ― George Orwell
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Monday, October 20, 2025
IRC logs for Monday, October 20, 2025
Vista 11 is Sinking While Microsoft is PIPing (Mass Layoffs But Silent Layoffs)
We're witnessing a shift in platform dominance
Richard Stallman is Having a Good Week Already (Stallman Was Right About 'Clown Computing')
That alone is worth bringing up in his talk
An Update About Soylent News, With Jan Rinok "Back in the Saddle"
Burnout or "near burnout" a possibility when having to curate abuse
When Prominent GNU/Linux Distros Are Run by Spies
What has Microsoft Canonical become?
More Publishers and Companies Nowadays Say "GNU/Linux", Not "Linux"
It's not to see InstallAware saying GNU/Linux this week