@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ Date: Tue, 23 Jan 1996 Sender: •••@••.••• (John Lowry) Subject: Re: cj#434> re: developing countries & blame > ... >Soon after Marcos was tossed out on his ear, the new Philippine >gov't made noises about only paying back that portion of their >international debts that could be traced as having actually been >spent on developmental work. The rest, presumably pocketed by >Marcos and company, would not be considered a valid debt. > >I never heard any more about this. Has this interesting idea >popped up again anywhere else ? > >/fred > > Not exactly, but, at about the same time, a Swiss court ruled that money on deposit in Marcos' name actually belonged to the government of the Phillipines -- and that was a new rule in the world at the time. Also, up here in northern California, our Democratic Congressman (who got tossed in the last election) proposed swaping S&L liability for title to some old-growth redwood forest here. Anyway, in the immortal words of some economist whose name I can't remember right now, "debt is a handy substitute for the whips and chains of the slavemaster," so I don't expect it will be reduced much so long as we continue to recognize "money." jl @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ ~=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~--~=-=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~ Posted by Richard K. Moore (•••@••.•••) Wexford, Ireland •••@••.••• | Cyberlib=http://www.internet-eireann.ie/cyberlib Materials may be reposted in their entirety for non-commercial use. ~=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~--~=-=-=-=-=-=-=-=-=~=-=-=-=-=-=-=-=-=~
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