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offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

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Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Tue Sep 16, 2025 01:52 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
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offsite link Ed Miliband Costs Britain One Billion Barrels of North Sea Oil Mon Sep 15, 2025 19:00 | Will Jones
Ed Miliband will cost Britain one billion barrels of North Sea oil and gas, official data confirm, as a sharp drop in output up to 2050 emerges ? a result of Labour imposing 78% taxes and a?ban on new drilling.
The post Ed Miliband Costs Britain One Billion Barrels of North Sea Oil appeared first on The Daily Sceptic.

offsite link What I Saw at the Unite the Kingdom Rally Mon Sep 15, 2025 17:00 | Philip Patrick
Philip Patrick was at the Unite the Kingdom rally on Saturday and says it was no Tommy-fest. The themes were love of country, a rejection of mainstream politics and media and a resolute defence of free speech.
The post What I Saw at the Unite the Kingdom Rally appeared first on The Daily Sceptic.

offsite link Climate Change Committee Doubles Down on Unrealistic Net Zero Costs Under New Chair Mon Sep 15, 2025 15:16 | David Turver
The Government's Climate Change Committee is doubling down on fantasy Net Zero cost models, turning a blind eye to sky-high offshore wind and solar prices, warns David Turver.
The post Climate Change Committee Doubles Down on Unrealistic Net Zero Costs Under New Chair appeared first on The Daily Sceptic.

offsite link BREAKING: Conservative MP Danny Kruger Defects to Reform Mon Sep 15, 2025 11:36 | Will Jones
Conservative MP Danny Kruger has defected to Reform UK to head up the party?s Preparing for Government policy unit ? the first sitting Tory MP to defect.
The post BREAKING: Conservative MP Danny Kruger Defects to Reform appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

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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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