[Go for it! The Crazy British Socialists in the Labour Party are trying to “help” Africa – Socialist style! Let them! Take special note of how this Leftist Socialist Propaganda rubbish is marketed – everyone omits to tell you that Debt Write-offs also result in the credit ratings of those countries going to hell (which it rightly should!). They pretend that this is all free money, but in reality, it will make it much harder for all these countries to borrow money in the future.

Now why are the Socialists so keen to engage in this stupid exercise do you think? Well, my view of these Socialists (and I said this in my book, Government by Deception years ago), is that this is one of their attempts to do a thing mainly to hurt capitalism. The real secret to understanding these Socialists and Far Left maniacs, is to realise that their marketing is always directed at “helping the poor” when in fact the real target is “destroying the rich” (or attempting to!). Keep watching the Left and what they do. They market everything as a cure for the problems of the poor, and yet the poor always get even poorer under their rule. In reality, they’re trying to stuff up the efficient Free Market Capitalist system, and they are trying to hurt, in this case, the Bankers of the Western world.

The Labour Party in the UK are maniacs. It is good to see them battling with the USA on this issue, and even with France and Germany. Unfortunately, I wonder how long it will take the British people to get rid of Prime-Minister-for-Life Tony Blair? Tony Blair and our Black Govt seem to be working together, hand-in-glove on this crazy scheme.

But let them do this, and let’s record, for the historical record, that this is a complete waste of time and that this will NOT help any of these poor nations in the long run. It will in fact hobble them greatly in the future. We will be revisiting topics like this in the future. Jan]

LONDON (MarketWatch) — Chancellor of the Exchequer Gordon Brown said in a Friday television interview that he envisions Group of Eight countries unveiling a debt-relief plan for Africa that would cut $40 billion in debt in mere weeks.

Brown, speaking on Britain’s Sky News, added that “potentially a great deal more” than 27 countries will benefit from the debt relief. Some aid organizations have argued that debt relief should extend beyond the 27 nations classified as “highly indebted poor countries.”

Earlier, Brown had said in a pooled interview that countries may embark on the biggest debt write-off the world has ever seen.

The debt-reduction plan has been subject to much bickering. The U.S. objects to a British plan to borrow money from future budgets to fund development, while France, Germany and Japan have argued for the writing off of debt-servicing costs rather than debt altogether.

Brown said the British plan, called the International Finance Facility, was winning support.

Brown added he’d had good discussions on aid to Africa with U.S. Treasury Secretary John Snow Friday morning and would have “even more progress to report” by the time of the world leaders’ summit.

Canadian and Italian ministers also said Friday they were optimistic a debt-relief deal could be struck.

Finance ministers of the G8 — the U.S., Canada, France, the United Kingdom, Italy, Japan, Germany and Russia — are meeting in London Friday and Saturday ahead of a summit of world leaders in Gleneagles, Scotland in July.

Aside of the African-debt issue, Brown said G8 countries were looking at what they could collectively do to grow the global economy faster.

He said the U.S. can cut its twin deficits, Europe can implement structural economic reform, Asian economies can open up further, and Japan implement financial services sector reform, and collectively they can open up trade.

“I believe you’ll see ministers make it their business to remove trade barriers at Hong Kong in December,” he said, referring to a World Trade Organization meeting.

Steve Goldstein is MarketWatch’s London bureau chief.

Source: WWW.MarketWatch.com
URL: http://www.marketwatch.com/news/story.asp?gui…/p>