{"id":134473,"date":"2023-05-21T16:19:03","date_gmt":"2023-05-21T23:19:03","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=134473"},"modified":"2023-05-21T16:19:03","modified_gmt":"2023-05-21T23:19:03","slug":"wall-street-court-censors-all-talk-of-sri-lankas-real-debts","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2023\/05\/21\/wall-street-court-censors-all-talk-of-sri-lankas-real-debts\/","title":{"rendered":"Wall Street Court Censors All Talk of Sri Lanka\u2019s Real\u00a0Debts"},"content":{"rendered":"

e-Con e-News<\/a><\/em><\/span><\/h2>\n\n\n

Who owes whom? Believe the English and their relentless media chatter, and it\u2019s we who still owe them! Despite all talk (& so much art and literature!) about chattel & indentured & wage slavery, despite all talk of over 500 years of colonialism & imperialism \u2013 Is we bankrupt<\/em>! Is we owe them!  Such is their mathematics! Their numeracy. \u2018Tis a calculatedly expensive farce of course. A Private-Public Partnership (PPP)! Talk about LARPing \u2013 Live Action Role Playing! A defanged \u2018state\u2019 is blamed. Workers (mostly informalized) are lazy. Politicians (mostly eternal) are corrupt. White envoys (no matter their pallor) are non-stick teflon \u2013 tho toxic when their thin skin of white supremacism is scratched.         <\/p>\n\n\n\n

     This week ee<\/em><\/strong> focuses on the first US colony in Asia, the Philippines<\/strong>. The US economic policies there were based on labeling the \u2018natives\u2019 as corrupt & uncivilized and therefore unable to administer a colonial economy. Welcome therefore to the latest not officially announced US colony, of Sri Lanka\u2026 One may notice the similarity of the charges.<\/p>\n\n\n\n

     ee<\/em><\/strong> Readers may recall, the \u2018founder governor\u2019 of the Central Bank of Ceylon in 1950 \u2013 John Exter \u2013 was a member of the privately owned US Federal Reserve System\u2019s Board of Governors. In 1948 he was made an adviser to the Secretary of Finance of the Philippines,<\/strong> and set up their Central Bank. Exter was then made Central Bank of Ceylon Governor, 1950-53, after writing the report to set it up. He promoted a culture of exorbitant consumption of imported goods, wasting profits from rubber sales during the genocidal US war on Korea. He bribed various political constituencies to ensure colonial rule, and prevented investment in a modern industrial economy (see Random Notes<\/em><\/strong>).<\/p>\n\n\n\n

\u2022 A court in New York censored this week<\/strong> all matters relating to Sri Lanka\u2019s \u2018international sovereign bond debt\u2019. The court also demanded \u2013 and was provided \u2013 a series of deadlines to chart a resolution of the lawsuit against Sri Lanka, involving a shady US Hamilton Reserve Bank (HRB) based in a Caribbean tax hideout, demanding full payment of what is owed them for their investment (in what?).<\/p>\n\n\n\n

     Last week ee<\/em><\/strong> discussed a lawsuit in Scotland \u2018on behalf of\u2019 Kenyan tea pluckers. Those expecting justice from a New York court should not hold their breath.<\/p>\n\n\n\n

     BlackRock<\/strong>, Sri Lanka\u2019s biggest ISB debt holder, is linked to Unilever, the largest English multinational in Sri Lanka. \u2018Private creditors such as Blackrock and Ashmore hold 47% of Sri Lanka\u2019s debt via bonds that were issued post Sri Lanka\u2019s civil war\u2019. The HRB suit is a ploy by such large \u2018asset managers\u2019 as BlackRock. BlackRock leads the bondholder group that is negotiating a restructuring with the Sri Lankan government. BlackRock is the leading known holder of external private debt<\/strong> \u2018in the global South\u2019.<\/p>\n\n\n\n

     New York State\u2019s legislature recently passed a bill to ensure that private creditors can\u2019t use courts to get better settlements than bilateral government creditors. China is demanding that all of Sri Lanka\u2019s loan sharks, including multilaterals like the IMF & World Bank, as well as private bondholders, take equal responsibility, take their share for creating the \u2018crisis\u2019 in Sri Lanka.<\/p>\n\n\n\n

     Our numerous experts on \u2018China\u2019s debt trap\u2019, have no idea about the role played by the IMF & World Bank and other \u2018conglomerates of conglomerates\u2019 in Sri Lanka, let alone of the role of asset fund managers, family funds, etc. They actually don\u2019t care. They have similar interests as those who brought us these \u2018weapons of mass destruction and distraction\u2019.<\/p>\n\n\n\n

*<\/p>\n\n\n\n

\u2022 Every news story mentions the previous government\u2019s inauspicious organic<\/em> policy, primarily opposed by England\u2019s ICI-CIC, as being one of the roots of last year\u2019s Aragalaya! Well, here now is Baurs, also part of the League of Multinational Corporations (LMNC) in Sri Lanka, now deciding what organic<\/em> is: Baurs laboratory services to certify \u2018organic fertilizers\u2019<\/strong> \u2013 Swiss multinational A Baur & Co was recently awarded Switzerland\u2019s international standard accreditation for organic fertilizers \u2013 ISO\/IEC 17025. The International Organization for Standardization (ISO) and International Electrotechnical Commission (IEC) are also based in Switzerland. \u2018Baurs laboratory was firstly accredited for inorganic<\/em> fertilizers in 2015!\u2019 (see ee Agriculture<\/em><\/strong>, Baurs)<\/p>\n\n\n\n

*<\/p>\n\n\n\n

\u2022 Canadian media recently accused a \u2018Native Indian man\u2019 of ferrying Indian (Chowdhari) and Romanian (Iordache) families across the icy St Lawrence River, from Canada to the USA. The families had (been?) drowned, and the \u2018native man\u2019 pronounced as \u2018missing\u2019. The media is notoriously negligent when it comes down to staging cogent reality. The \u2018native man\u2019, Casey Oakes is from the besieged lands of the Akwesasne Mohawk Territory, straddling the border with the USA \u2013 a historical product of settler wars, yet an ancient trade route no doubt.<\/p>\n\n\n\n

     This ee<\/em><\/strong> shares a report on a recent truck drivers\u2019 strike in Europe, which sheds light on who is really behind so-called human<\/em> trafficking<\/em> to the West, based on their need for unprotected workers.<\/p>\n\n\n\n

For Full Report<\/p>\n\n\n\n

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Wall Street Court Censors All Talk of Sri Lanka\u2019s Real Debts<\/a><\/blockquote>