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. Links 29/9/2014: OpenDaylight Helium Release

    Links for the day



  2. European Patent Office Disorganisation: Problems With the Audit Mechanisms - Part IV

    A prelude to a long article about a thug called Topić, his controversial Battistelli-sponsored appointment, and the removal of auditory functions by Battistelli



  3. More Good News About Demise of Software Patents and Along With Them, Consequently, Patent Trolls

    A weekly roundup of news about patents in the United States and elsewhere, with special focus on software patents



  4. IRC Proceedings: June 22nd, 2014 – September 13th, 2014

    Many IRC logs



  5. Links 28/9/2014: Moto X, End of OpenSUSE 11.4

    Links for the day



  6. CBS Continues to Get Heavily Occupied by Microsoft Staff to Spread Microsoft Propaganda

    The CBS-owned ZDNet continues to hire people who have worked or are currently working for Microsoft and unsurprisingly enough they use their newly-acquired positions to praise Microsoft and bash Microsoft's competition, usually with no disclosure of their conflict of interest



  7. Links 27/9/2014: Linux (Almost) Everywhere, Features Of Linux 3.17

    Links for the day



  8. Microsoft Fakes 'Charity' and Uses Religious Groups to Acquire Lock-in in the Public Sector

    Microsoft's involvements with NGOs and with governments lead to more distrust, more surveillance, less freedom, and ultimately systemic corruption



  9. Bill Gates' Privatisation Crusade

    Mr. Gates, seeking to increase his huge profits and political power, reaches out to Catholic leaders and David Christian



  10. Tux Machines Under DDOS Attack

    Most of Tux Machines continues to work as usual, but some parts are temporarily restricted to keep the server running



  11. Links 26/9/2014: LibreOffice Celebrations, Betas of *buntu

    Links for the day



  12. Links 25/9/2014: KDE Roadmap, Bash Bug, GNOME 3.14 in Next Fedora

    Links for the day



  13. Links 24/9/2014: GNOME 3.14 Released, Bash Has a Bug

    Links for the day



  14. Links 21/9/2014: Fedora 21 Alpha

    Links for the day



  15. More of Bill Gates' Investments in GMO and Mass Indoctrination Under the Disguise of 'Donations'

    Microsoft's arrogant and famously corrupt co-founder is taken to task by those whom he is trying to bamboozle for monopoly, unlimited cross-generational power, and never-ending profit without risk



  16. Home Depot Confirmed a Victim of Microsoft's Bad Security, Microsoft Lays Off Security-Related Staff

    News reports circulate showing that Home Depot was knowingly careless with its Windows dependency while Microsoft lays off staff focused on security



  17. European Patent Office/Organisation - Suspicion of Improper Collusion Between EPO President and Chairman of the Administrative Council: Part III

    A preliminary look at Battistelli's reign and how regulatory powers got abolished, leaving the EPO reckless and largely unaccountable



  18. Links 21/9/2014: xorg-server 1.16.1, Linux Kernel 3.16.3

    Links for the day



  19. Links 20/9/2014: GNOME 3.13.92, Android L

    Links for the day



  20. Scanning Patent Troll Implodes; Is the Podcasting Patent Troll Next?

    MPHJ loses and Personal Audio LLC perhaps wins for the last time since software patents are quickly losing legitimacy in the United States



  21. If CAFC is Not Above the Law, Then it Should be Shut Down Now

    A long series of abuses in CAFC may as well suggest that this court has become broken beyond repair



  22. The Latest From Microsoft Patent Trolls and Patent Partners

    Microsoft-linked and Linux-hostile trolls continue their relentless attacks (albeit with little or no success) while patents as a weapon lose their teeth owing to a Supreme Court ruling



  23. Microsoft Proves That Its Massive Layoffs Are Not About Nokia

    Microsoft is laying off a lot of employees who have nothing at all to do with Nokia



  24. Links 19/9/2014: Another Red Hat Acquisition, Netflix Dumps Microsoft Silverlight and Brings DRM to WWW

    Links for the day



  25. Links 18/9/2014: Windows Copying GNU/Linux, Germany Moves to Security

    Links for the day



  26. Web Site 'Patent Progress' Now Officially 'Powered by CCIA' (FRAND Proponent, Microsoft Front)

    After talking a job at CCIA, "Patent Progress" and its chief author should be treated as dubious on real patent progress



  27. Articles About the Death of Software Patents in the United States

    Recent coverage of software patents and their demise in their country of origin, where even proponents of software patents are giving up



  28. The Death of Software Patents is Already Killing Some Major Patent Trolls

    VirnetX seems to be the latest victim of the demise of software patents in the United States



  29. More Microsoft Layoffs

    More Microsoft layoffs go ahead as the company is unable to compete



  30. ODF on the Rise

    Milestones for OpenDocument Format (ODF) and the launch of FixMyDocuments


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