- cross-posted to:
- technology@beehaw.org
- cross-posted to:
- technology@beehaw.org
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When you’re too questionable for the world bank - who regularly offers leveraged loans to dictators they know are going to embezzle the cash and flee, leaving whole countries destitute.
…even those guys are like - “nah, Elon Musk clearly has a questionable character”.
So what?
What’s the world bank going to do if the countries decide not to pay back the loan?
It’s just stupid for the countries to even pay it back
…a “leveraged loan” usually means there’s a contract to sell a natural resource for a very cheap price (far below the market rate) if the loan isn’t paid back. That’s the “leverage” that makes the loan (usually to an otherwise poor country) “good” in the eyes of the world bank.
So that’s what happens. If they refuse to give up the goods, they’ll get down graded, possibly refused global banking services, or put on an embargo list… And they’ll probably arrange ownership of the mine/refinery/wells and have them secured with private security forces anyways.
Did the citizens of that country take the loan? No
Did they benefit at all from the loan? No
Did the world bank make any effort to ensure the above were answered ‘yes’? No
When you make a leveraged loan are you supposed to be guaranteed that the it was risk free? No
If leveraged loans could be made risk-free ‘breal your legs’ style the way the world bank does to countries, banks would be offering loans to every punter who wanted to bet on the dogs.
It’s always great fun when people who have absolutely zero fucking clue how something works declare it “stupid”.
Elon: Let the free market decide.
Free Market: *decides*
Elon: Wait, no, not like that
Sometimes the Invisible Hand flips you the Invisible Bird.
Imagine your platform being too toxic for even the World Bank’s propaganda.
Is Elon gonna sue the World Bank now?
”Probably in a couple of weeks… looking into it… [insert generic platitude…]”
Why was the World Bank advertising on Twitter (or anywhere) in the first place?
Good point! Unless they have competitors, it’s strange when they advertise at all.
Good news! You may be pre-qualified!
For an interest free loan!*
*If the loan is not repaid back by the end of the term, we will crush your country in debt and seize all natural resources to pay it back.
Advertising and propaganda are the same thing
Ok but then who exactly is the World Bank propagandizing to on Twitter?
