e-Con e-News

The IMF & Economic Division of the World

Summary

a new concept into the study of political economy
– the indispensable minimum of murder

blog: eesrilanka.wordpress.com

Before you study the economics, study the economists!

e-Con e-News 21-27 August 2022

A large number of white people continue to be raised up as mediators

to settle the squabbles of the ‘primitive brained’ and ‘repulsive’

– see ee Sovereignty, Repulsive

Whites need to shut their loud obnoxious mouths

and let wiser counsel (most of the world) speak.

Be quiet for a few centuries and they might grow up to be adults.

They lie so easily, it’s unbelievable.

– Anon

Who, where or what on earth is Rory McGovern? What is he doing in Colombo at the same time as another IMF delegation hit squad? Other rich North Atlantic whites are enjoying the peaks of their summer vacation before September’s industrial rebooting. It isn’t even autumn or winter yet in Geneva or Ireland or Boston or wherever he’s from, and needing a tan. Why has he, or the IMF, been even coterminously allowed into the country, and why even talk of them?

     This ‘UNHRC Director of the Asia Pacific Division’ descends here on ‘a fact-finding mission’ to compile another file on human rights, while parked in a luxury hotel. A search for this McGovern on the empire’s Google search engine unearths absolutely no results. What Asian-Pacifican of the 5-eyed Quad kind is he, to be afforded such amnesia and teflon? And in which ghetto did this white boy pick up such sensitivity?

     McGovern is another McDiversion. What is more unrighteous and corrupt than the UN, its officials and agencies remaining a white supremacist fortress in lowland Manhattan and alpine Geneva? The UN is still an instrument of minority white genocidal power.

     On 7 July 1950, the UN joined the US war on Korea illegally. The USSR was not in attendance due to the refusal by the whites to admit the People’s Republic of China, and consequently Sri Lanka, into the UN. This ‘UN-led police action!’ mass-murdered several million people, to divide Korea, installing 100,000s of US troops in their south, in Japan, Taiwan, and the Pacific etc to this day. McGovern should tell us why he sees it fit for US and allied European war machines to keep disturbing the tranquillity of these seas, and fail to fathom much of our human discontent.

     Indeed, McGovern looks away from the ongoing anti-US protests in the still-troubled south of Korea, happily ignored by white media. Even as the US and South Korea are holding ‘their largest military exercise in years’, scheduled to end September 1. Their US overlords, and South Korean President Yoon Suk-yeol, who took office in May, want Pyongyang to denuclearize. Kim Yo Jong, sister of North Korean leader Kim Jong Un, described Yoon’s proposal as foolish and stressed her country has no intentions to barter away its nuclear arsenal. North Korea has long been demonized in the white media (with methods now widely used in their toolkit – see Random Notes, Twitter

     The US, South Korea and Japan also participated in a recent ballistic missile ‘defence’ exercise off Hawaii’s coast. In West Asia, more US airstrikes hit in Syria, with Iran rockets responding at 2 US Bases in Syria’s Deir Ezzor.

     Maybe MGovern is concerned as to why the US World Bank and IMF seek to maintain such a backward colonial status quo here while blathering about human rights. In Sri Lanka this has amounted to rousing frequent upheaval, as they sought to prevent the modern industrialization that was taking placing in their own settler colonies. The US, Japan and India’s actions have also made abundantly clear they are determined to ensure development banking never happens here.

     Preserving us as a sun, sex & sand resort, and a minelode for workers and other natural resources. This ee Focus looks at how this economic division of the world has come to take place.

     McGovern should rather tell us, as a result of the proposed IMF policies, how many people will be stunted, maimed, and murdered.

In virtually every colonial territory a certain number had to be killed

before the survivors would accept the new prospects. This might even be said

to introduce a new concept into the study of political economy

– the indispensable minimum of murder

The Political Economy of Underdevelopment, SBD de Silva

As to the murder, it will begin with mass sell-offs of valuable assets, (purposely run into the ground) mass sackings like in July 1980, and consequent terrorism,

• Ranil Wickremesinghe recently gave an interview to The Economist (London). Here’s an excerpt:

     ‘RW: We need a public-finance bill on the new taxes, then on state-owned enterprises [SoEs]. My idea is to do a deep cut and make a legislative framework for a highly competitive export-oriented economy, and then ensure the recovery takes off by 2024. It’s not worth dragging this out. Take a deep cut, but ensure that you can get recovery going so…

     TE: What do you mean by deep cut?

     RW: So that when you make changes, make it deep, make all the changes you have to make and then allow it to come up…

     TE: Apart from Sri Lankan airlines, what are some of the marquee SoEs that could be privatised?

     RW: Well, you can sell Sri Lanka Insurance, there’s telecoms. What we do with the petroleum corporation is another question. (ee Economists, How Sri Lanka’s new president)

• Harsha & Eran, the US Assembly of God’s Holy Duet, call their panacea, ‘a socialist market economy’! …Don’t get too excited: the country also calls itself, ‘Democratic Socialist’, and the UNP from time to time also declare for socialism. As did Hitler and Mussolini, etc. So what kind of socialism?  Check Marx & Engels’ Communist Manifesto for varieties.

• Recall when Japan Ambassador in Colombo Mizukoshi Hideaki, after having met new Premier Ranil Wickremesinghe immediately after his appointment, left for Tokyo in late May.

     Recall when ‘Hideaki met the Tamil National Alliance (TNA) and reportedly said there is a risk of financial assistance to Sri Lanka being mismanaged and hence Japan will not support the country at this point. However he’s said Japan might consider it later’ (ee July 2). Now maybe later. President Ranil Wickremasinghe is in Japan seeking their assistance with the latest euphemism for colonialism, earlier ‘structural adjustment’ and now ‘debt restructuring’. The ghost of Prabhakaran maybe wondering if he could have just bought it all from the IMF.

• Profits of banks come down due to large-scale provisioning for bad debts headlines the Sunday Times’ Kussi Amma Feizal: due to high impairment provisioning (for bad debt) as industries struggle to survive’. The Sunday Times dare not tell us exactly what these ‘industries’ are. And why the banks chose to lend them money.

• IMF’s Predictions Fail Again – At the annual summer symposium of central bankers this week in Jackson Hole, Wyoming, US, commenting on the state of capitalist economies and on the efficacy of monetary policy, former IMF chief economist Gita Gopinath admitted the IMF had failed to predict any rise in inflation rates (not just in energy & food but in what are called ‘core prices’ in the shops & services)…And Jay Powell, chair of the US Federal Reserve, made the keynote speech declaring the US is going to suffer a hit to jobs and living standards as a result of the Fed’s ‘tightening policy’,  – Random Notes

Unsigned and unattributed media, attacking China and praising the US, abound. Take the Sunday Times story, Govt makes policy commitments, ‘convince China on IMF bailout’. Mass propaganda escalated this week, as the IMF continued to stall, blaming China, while demanding the government bailout Wall Street by selling off national assets. The 5 IMF officials here must be costing at least 1.5 million rupees each a day in Sri Lanka, and they wish to know why we are in debt!Will the media add it all up?

• People wonder why war-torn Ukraine has ‘little difficulty in receiving IMF assistance running into tens of billions of dollars. The Sri Lankan government’s recent moves indicate that tough IMF conditions are already subtly and sometimes aggressively being introduced’. Ukraine’s massive agricultural abundance has already been sold off by the IMF: ‘3 giant corporations – Cargill, DuPont, Monsanto  – have bought 17 million hectares of Ukraine agricultural land. That’s 60% of the total agricultural land in Ukraine!’ – Random Notes

• Another unsigned (no byline, no agency) article only citing ‘sources said’: ‘9 absconding Navy personnel’ who jumped ship after a joint exercise in the US… have been referred to US law enforcement authorities’. In 2018, during a similar US joint exercise, an SLN sailor went missing and ‘his whereabouts are still unknown’.

     A Sri Lankan Navy crew consisting of more than 100 Navy sailors under a Commanding Officer is currently stationed in Hawaii and engaged in training alongside with their US counterparts while the former US Coast Guard Cutter vessel was undergoing refit.

     The Australian Department of Immigration said Ukrainian visas are being processed as a priority. Meanwhile media reported again that Australia was paying India to supply Sri Lanka’s navy with fuel, in order to prevent Sri Lankans from seeking work in places that only wish to sell us dairy and prevent our own dairy industries. (ee Sovereignty, 9 Deserting)

• Anyone reading weekly ee Finance (see below) links to news on banks and finance companies and the stock market, will gather that the media has never investigated the President’s assertion that the Colombo Stock Exchange is rigged. So what does this say about media’s umbilical collusion with corruption, and a politician’s more honest appraisal? The media after all are big flayers of so-called corruption: We don’t call it corruption. We call it business.

     This recalls that the English parliament was and is all about talking, and it has kept talking while England goes about waging war on its own people to advance its industrial revolution, and waging continuous wars on the world. The other aspect is how the ruling class and media manipulated parliament through setting up fake bogeymen like utopian socialism and corruption.

• It’s open season for politicians. Epitome of all evil. Or so the media would like us to think.

     President Ranil Wickremesinghe, chief guest at the Organisation of Professional Association’s annual conference ‘and awards ceremony’, mockingly bemoaned, ‘There is one profession you all have left out in the OPA. The professional politicians and I don’t think that you’ll be anxious to have us either, which is quite understandable.’

     While most of his speech was about girding our loins to pay off debts, all he had to say about industry was this: ‘We have to get ready for the 4th Industrial Revolution and you all know what those technologies are. How it can be used and how you can make money’.

     So there it is. Industrial revolution, technology etc, is not something to invest it, enhance skills and make, but to use and make money.

     Ranil is made out to be intelligent. So why is Ranil, who claims not to be a populist, making such purportedly demagogic pronouncements, when he knows that it is ‘politicians’ who truly decide, yet it is not the elected ones who the media call politicians, who really decide. But the parallel politicians, the corporate handlers, are never heard from or exposed.

perp walknoun, North American, informal: an instance of a person in police custody

being led into a police station, courthouse, etc

in such a way as to enable the media to publicize the event

There were no thrusted microphones nor drums when the IMF entered the country for the 17th time. But it was all ‘Lights! Action! Camera!’ as ‘A handcuffed MP Ranjan Ramanayake was brought to the Abans-owned Colombo City Centre Cinema to watch his film The Game, in which he plays the lead role. The film was completed before he was sent to prison.’ – Sunday Times

     A Game indeed! This and other perp walks, involving police and courts, lawyers and ‘rebel’ padres and doctors – are all done in full glare of media cameras. So were the summons and arrest of whole set of lesser mortals. Meanwhile, the Communist Party points out: ‘It is farcical to go after people who ate and swam at President’s House, Temple Trees.’ Even as England seeks to install a native Guy Fawkes who sought to, or acted like he wished to, burn down Parliament on July 9.

• As Lanka plans to celebrate own 75-year Independence Day on February 4 next year, an ee Reader points out the reigning insanity: The English (and other whites) are still giving us advice on democracy and rights. She was referring to England’s unelected House of Lords, and that they have no constitution, even as they impose such imbroglios on Sri Lanka.

     This House of Lords recalls the attempts to impose an unelected civil society on parliament to protect certain undefined interests of youth, women, etc. It also recalls the various ways the English sought to thwart the popular will, with an unelected Senate.

     It was 51 years ago, on 2 October 1971, Sri Lanka (still Ceylon) would abolish the unelected Senate, the upper chamber of the Parliament of Ceylon. The Senate was one of the 5 constitutional ‘safeguards’, the English included in the 1946 Constitution. They said it was to remove the fear of ‘domination and oppression’ by a ‘permanent and unassailable majority’ which existed especially in the minds of Ceylon’s ‘ethnic and religious minorities’, writes law expert Nihal Jayawickrama (on a UN salary, lost his job in Hong Kong because he was deemed an English agent). What the colonial legalist Jayawickrama does not say is, those safeguards were actually to camouflage and preserve white rule in Sri Lanka, particularly the agency houses.

       ‘The other entrenched safeguards were multi-member constituencies in those electorates in which a substantial minority, whether racial, religious or otherwise, lived; 6 nominated members of the House of Representatives to represent interests which were either not represented or were inadequately represented; an independent Public Service Commission which would guarantee strict impartiality in all matters affecting appointments; and a prohibition on Parliament enacting legislation either to confer a privilege or to impose a disability on persons of any particular community or religion.’ (colombotelegraph.com/index.php/the-abolition-of-the-senate/)

The True Minority – Robert Singleton-Salmon, the Appointed MP represented ‘English interests’ through 1948-72 in successive parliaments after ‘independence,’ He was the head of the British Ceylon Corporation. BCC owned a soap factory, a drum plant, as well as the biggest coconut oil mill in the country. A BCC worker recalls the huge pipeline carrying the oil directly from the factory premises to the port. The Mill produced 110 tons of oil every day, for local use and for export, working nonstop through the 365 days of the year. Singleton-Salmon used his position in the government to benefit his private company:

     ‘When the Petroleum Corporation made arrangements to get machinery from abroad to fabricate drums, he prevailed upon the government and got the order to turn out the drums for the Petroleum Corporation at the BCC Factory.’ English ‘free trade’ at its best.

Contents:

A1. Reader Comments

• USAID Advocata’s Rehana Thowfeek • English media readers = 3% • Indi in NYTimes • Parsee Money • TB Ilangaratne & CPC • Nomura & Blackrock have same debt portfolio • Capital gains tax in the interim budget • Chip-making machines • US pressure on Dutch machines • 5-Eyes IMF • England’s UnConstitution

A2. Quotes of the Week

• India’s 18th Invasion • Free Seas & China • Continental shelf is 20 times land area • Market prices are not natural • Kalu-Suddha Incoherence • Stupa & Warrior • India’s statistical heritage • SOEs are China’s backbone • China leads in Solar • Ukraine’s Fake Media • Stop Diplomacy

A3. Random Notes

• CIA’s Rock’n’Roll Superstars • Mexico battles US e-vehicles • Small Garages & Electric Shift • Adani’s BlackRock & Cement Empire • World Bank’s fertilizer import rules • IMF Blaming Inflation on Wages • A Very Nano-History of Recent Debt & WB Flattery • US rouses Kosovo • Ukraine, IMF & Foreign Agribusiness

B. ee Focus       

B1. The Colonial Economic Division of the World – SBD de Silva

C. News Index

continued on: eesrilanka.wordpress.com

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