STOP it! Trump fumes at World Bank after it greenlights new $1bn+ loan program for China

Ed.'s note: Be mindful of the fact when this RT New article is read that the World Bank has very close connections to the Pentagon. There is ample evidence to support this including Paul Wolfowitz who was at the Pentagon then moved to the World Bank. Going back further, Robert McNamara who was at the Pentagon also went to the World Bank. Both the Pentagon and the World Bank have collaborated on joint research projects always outlining "the world is in serious peril." One of the "perilous" subjects for joint research was to put out a red alert warning in 2004 as to the dangers of "global warming." In all actuality, we live in a "perilous world" created by both the Pentagon and the World Bank. The Pentagon destroys and the World Bank comes in with the loans to rebuild (reconstruction and development). The current President of the World Bank is David Malpass, and although Jewish sources downplay the connections, Malpass is Jewish. Not that we are pointing Jews out deliberately, it's just that they have an overwhelming dominance in banking and finance. Paul Wolfowitz who was at the World Bank was also Jewish. Currently, the World Bank has billions and billions worth of outstanding loans to numerous countries with its largest outstanding loan worth almost $64 billion to India. World Bank outstanding loans to China are around $53 billion with more on the way apparently unless President Trump prevents the World Bank from initiating further loans to China. Ever wonder where the World Bank is able to obtain credit to issue loans in these amounts?

Pentagon audit faults World Bank's $10 billion Afghan effort
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Source: RT News

7 December 2019

World Bank President David Malpass talks to Chinese Premier Li Keqiang before a news conference following the "1+6" Roundtable meeting at the Diaoyutai state guesthouse in Beijing, China November 21, 2019. © REUTERS/Florence Lo

US President Donald Trump has seen red over a newly-adopted plan by the World Bank to loan China up to $1.3 billion annually through 2025. Trump said Beijing "has plenty of money," urging the bank to cancel the handout.

"Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don't, they create it. STOP!" Trump tweeted Friday, taking aim at the decision by the financial body's board to approve a five-year plan to help China boost its private sector and foster fiscal reforms the day before.

Why is the World Bank loaning money to China? Can this be possible? China has plenty of money, and if they don't, they create it. STOP!

— Donald J. Trump (@realDonaldTrump) December 7, 2019

The plan will see China take in between $1 billion and $1.3 billion each year until 2025, down from $1.8 billion, the average amount of low-interest loans Beijing had been given access to over the last five years.

It is envisaged that the figure would "gradually decline" over the next five-year period. Approving the measure, the World Bank stated, however, that the amount China would be entitled to receive "may fluctuate up and down from year to year" depending on how fast it accomplishes the goals stated in the plan.

Washington has been up in arms over the plan, and, though it can wield a veto on major decisions within the organization, it holds no sway over the Chinese lending scheme, as the move was not decided by a formal vote. US Treasury Secretary Steven Mnuchin has argued that China does not require any outside financial aid, insisting it is wealthy enough to lend money to poorer countries and propel its ambitious Belt and Road Initiative.

More: Trade war escalates? Beijing points finger at IMF as US berates Chinese megaproject in Pakistan for debt-trapping

US lawmakers have been on the ropes over the decision as well, complaining that tax money taken from American workers will be funneled into China, since the US is the biggest contributor to the World Bank.

Please go to RT News to read the entire article.
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