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0 sats \ 1 reply \ @takaponka OP 30 May 2023
"Argentina is suffering from high rates of inflation, largely due to odious debt owed in US dollars to the International Monetary Fund (IMF) and Western vulture funds."
They love the debt so much, most powerful tool to make whole nation submissive. They don't want you to pay back because they can print what you owe them anytime they want.
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0 sats \ 0 replies \ @SwearyDoctor 30 May 2023
this is what distinguishes colonialism from neocolonialism.
In "old" colonialism, countries occupied their colonies and looted them directly.
In neocolonialism, they lend these countries money with odious terms, make them dependent on the debt, require repayment in a currency they can't print, then make it harder for them to obtain that currency (through IMF "restructuring" demands that make sure nothing of much value-add is produced there that could be exported). Permanent debt trap, and the ability to loot the country without having to send colonial troops.
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