EditorsAbout the SiteComes vs. MicrosoftUsing This Web SiteSite ArchivesCredibility IndexOOXMLOpenDocumentPatentsNovellNews DigestSite NewsRSS

01.13.11

Microfinance the Lesser-known Dark Side of the Gates Foundation

Posted in Asia, Bill Gates, Deception, Finance at 2:44 am by Dr. Roy Schestowitz

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:


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.

Share this post: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Reddit
  • co.mments
  • DZone
  • email
  • Google Bookmarks
  • LinkedIn
  • NewsVine
  • Print
  • Technorati
  • TwitThis
  • Facebook

If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

Pages that cross-reference this one

What Else is New


  1. In Lawyerland, Simulated UPC 'Trials' and More Extraordinary EPO Propaganda for Change That Would Harm Europe to Help Patent Lawyers and Their Big Clients

    A look at the latest wave of lobbying for the Unitary Patent Court (UPC), courtesy of patent lawyers who profit from patent disputes, and the utterly shameless marketing from the European Patent Office (EPO)



  2. Apple and Microsoft Cannot Keep Up With Android (Linux), More Layoffs Reported

    Having failed to grow (in the operating systems market share sense), proprietary software giants lose loyalty, try to attack the winner (Android/Linux) with software patents, and inevitably make their staff redundant



  3. Links 12/2/2016: Russian's Government With GNU/Linux, India's Wants FOSS

    Links for the day



  4. New EPO Protests Amid Nervous Breakdowns of Spanish EPO Employee (After Institutional Bullying by Battistelli's Goons), Spain Rejects the Unitary Patent (UPC)

    In the face of enormous pressure from non-technical Eurocrats like Battistelli, Spain remains strong and resists the Unitary Patent Court (UPC), which puts more power in the hands of an abusive body that grossly discriminates against Spaniards



  5. Only Half a Dozen Cuban Patents Filed at EPO, But Hugely Unpopular Battistelli Goes to Cuba to Garner Cheap Support

    Now that Spain is antagonising the EPO (and especially the UPC) the President of the EPO helps create some puff pieces in Spanish as he visits Cuba and neighbouring Spanish-speaking nations which are historically renowned for defunct governance and lawlessness (like the EPO itself)



  6. Nepotismo de la UPC, Abusos Políticos, y el Envolvimiento en la UPC de la Firma ¨Legal¨ que la OEP Contrato para Matonear a Techrights

    La Corte Unitaria de Patentes UPC, un sistema arregaldo esta siendo embestida por la gargant de Europa por la OEP. (Nos están metiendo la yuca). Sus grandes clientes (incluso extranjeros), con sus abogados de patentes para que todo el mundo los vea.



  7. Miembro del Parlamente Europe Resalta ¨Las Continuas Violaciones de los Fundamentales Derechos de los Empleados de la OEP¨

    Pregunta a la Comisión Europea de parte de la MEP Portuguesa Ana Gomes, publicado en el sitio del Parlamente Europeo.



  8. Links 11/2/2016: LibreOffice 5.1, HMRC and FOSS

    Links for the day



  9. Microsoft Continues to Use Software Patents to Extort/Blackmail Even More Companies That Use Linux, Forcing/Coercing Them Into Preinstalling Microsoft

    Acer is the latest large OEM to have become a victim of Microsoft's witch-hunt against Android/Linux preloaders, whom Microsoft is coercing into becoming Microsoft's carriers (or face litigation over software patents, with high legal fees if not injunctions or high damages upon secret settlements)



  10. EPO Brain Drain (Even Directors Fed Up With Team Battistelli) and Rumours About Battistelli Becoming President of the UPC

    Words heard through the grapevine of the European Patent Office (EPO), where staff is overwhelmingly against the managers and some people, including high-profile staff, add to the exodus



  11. More Than 20 Years in the Line: European Patent Office and Claims of European Convention on Human Rights Infringement Against Applicants/Stakeholders

    Gross incompetence and potentially an infringement of the European Convention on Human Rights at the European Patent Office (EPO), this time impacting an applicant (one of many in a similar position)



  12. UPC Nepotism, Political Abuses, and UPC Involvement From the Legal Firm That EPO Hired to Bully Techrights

    The Unitary Patent Court (UPC), a rigged system that is being rammed down Europe's throat by the EPO, its big clients (even foreign), and their patent lawyers laid bear for people to see



  13. Member of European Parliament Brings Up “Ongoing Violations of the Fundamental and Employment Rights of the Staff of EPO”

    Question to the European Commission from Portuguese MEP Ana Gomes, as published in the site of the European Parliament



  14. La Oficina Europea de Patentes Pretende que No Pasa Nada y Prepara una Feria de Vanidad

    La estrategia de relaciones públicas de la OEP cuya destructiva estrategia de patentes continua sin disminución (por ahora), se engancha en Colombia y se esfuerza en manufacturar el mito donde el público, examinadores de patentes, y aplicantes de patentes todos estan muy felices con la OEP.



  15. La ‘Internacional’ Commisión de Comercio Impone/Reenfuerza Patentes de Software para Establecer Otro Embargo

    La Comisión Internacional (sic) de Comercio se esta entrometiendo en competición de nuevo permitiendo a un gigante de los Estados Unidos Ciso en este caso, a potencialmente bloquear rivales (no importaciones del extranjero) usando patentes de software.



  16. Links 9/2/2016: Linux in Robotics, Hyperledger Project

    Links for the day



  17. Besieged Benoît Battistelli Mimics 'Damage Control' Tactics of FIFA or Blatter as More Judges Start Getting Involved in EPO Scandals

    Rumours and a new rant from Battistelli reinforce suspicions that actions are being organised behind the scenes, possibly as part of an upcoming, high-level campaign to unseat/dethrone Battistelli, who has become a reputational disaster to the European Patent Office (EPO), much like Sepp Blatter at FIFA



  18. Several Political Parties Directly Challenge the European Patent Office for Ignoring the Law, Not Obeying Court Orders

    Politicians make it crystal clear that the EPO, despite its unique status, cannot just raise its nose at the rulings of courts of law, definitely not in Dutch territory where the EPO operates



  19. Even the Legal Community is Upset at Benoît Battistelli for the Damage He Did to the EPO

    A recent article from lawyers' media (in German) speaks of the great damage (or mess) left by its current president, who has become somewhat of a laughing stock and growingly synonymous with farcical trials even in the circles of stakeholders, not just his own staff



  20. EPO Union (SUEPO) Getting Busted: “More and More People are Joining the Union, but Fewer and Fewer People Dare to Take on Leading Positions There.”

    The union-busting actions taken by EPO management in collaboration with Control Risks (for weak accusations against staff representatives) and FTI Consulting (for 'damage control') as described in a recent article, in the words of SUEPO lawyer Liesbeth Zegveld



  21. Microsoft's Copyrights- and Patents-Based Attacks on GNU/Linux Carry on

    The SCO case is still going on and Microsoft has just signed a patent deal with GoPro over its FOSS-based software, relating to “certain file storage and other system technologies”



  22. The EPO's Benoît Battistelli is the Dictator Who Can No Longer Dictate Like He Used to

    The European Patent Office's mechanism of oversight is starting to work just a little because, based on a new report from Juve, Battistelli is now reluctant to make proposals that would prove unpopular among delegates



  23. La Más Detallada Explicación (hasta ahora) de ¿Qué esta mal con la OEP?

    La insistencia de la OEP que permanece arriba de la ley no sólo est bajo fuego en los medios pero también esta siendo desafiada basado en personas familiares con la aplicabilidad de la ley a organizaciones internacionales.



  24. Links 8/2/2016: Vista 10 Nags Help GNU/Linux, Nautilus Updated

    Links for the day



  25. The European Patent Office “is Acting as Though the Law Does Not Apply to It.”

    An article from Nieuwsuur which provides the words of Liesbeth Zegveld (for SUEPO) and Guillaume Minnoye (for the European Patent Office), reaffirming the EPO's bizarre notion that it is above the law, even in the face of human rights violations and a court ruling against the EPO



  26. Microsoft-Connected FRAND Lobbying (Software Patents Against Free/Open Source Software) in Brussels

    Anti-Free/Open Source software (FOSS) talking points and FRAND (anti-FOSS) lobbying groups in Brussels as seen by proponents of FRAND, who also worked for Microsoft



  27. Latest Propaganda From the EPO's Management an Effort to Make the EPO the Tool of Megacorporations

    A quick roundup of some of the latest spin and paid-for (bought) coverage that helps introduce a distorted patent system whose beneficiaries are not European (or even people)



  28. 'Aversion to Change' Propaganda From the EPO Echoes or Parrots Lenin and Stalin

    The out-of-control EPO management is trying to fool the media by blaming staff representatives for getting fired, simply because they stood up to a highly abusive and megalomaniacal dictator



  29. The Gates Foundation Subjected to Criticism, But Over a Decade Too Late

    Reckoning and accepting the fact that even some in the media now openly speak about Bill Gates' corrupting influence in everything, including politics



  30. Links 8/2/2016: Zenwalk 8.0 Beta 2, Q4OS 1.4.7

    Links for the day


CoPilotCo

RSS 64x64RSS Feed: subscribe to the RSS feed for regular updates

Home iconSite Wiki: You can improve this site by helping the extension of the site's content

Home iconSite Home: Background about the site and some key features in the front page

Chat iconIRC Channel: Come and chat with us in real time

CoPilotCo

Recent Posts