FOR IMMEDIATE RELEASE:
June 21, 1999
BUCHANAN BLASTS COLOGNE'S G-8
FOR 'GLOBAL GRAND LARCENY'
DES MOINES, IOWA -- Today Republican Presidential candidate Patrick J.
Buchanan released the following statement:
"The decision of the G-8 nations at Cologne to grant 'debt relief' to the
'world's poorest nations' is being painted as act of international
altruism. In reality, it is a great leap forward for international
socialism, and an act of global grand larceny whose, principal victims are
the unwitting taxpayers of the United States.
"Of the $70 billion in debt to be 'forgiven,' for example, no less than
$39 billion is owed the World Bank. But this debt will not disappear. It
will simply be shifted off the books of deadbeat and bankrupt regimes onto
the backs of Western taxpayers. American children yet unborn will spend
their entire working lives paying off these debts.
"Before this $70 billion in debt is 'forgiven,' Congress should demand
answers. What happened to this enormous pile of money? Who squandered or
stole this incredible fortune? Who at the World Bank and IMF deceived us
about the credit-worthiness of the loan recipients? Who has been
investigated, prosecuted, or punished for the wipeout of all this wealth?
"Were a fraction of this sum of $70 billion foolishly lent, and lost, by a
U.S. commercial bank, reputations would be ruined and heads would have
rolled. Why is no one ever held accountable, or ever punished, for
criminal incompetence at the World Bank or the IMF, or their ongoing
looting of the wealth of the United States?"
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