April, 02 2020, 12:00am EDT
Provide Coronavirus Relief Through IMF Gold Reserves, Says Development Group
WASHINGTON
As the International Monetary Fund, G20 and world leaders consider urgent actions to confront the economic impacts of the coronavirus, a development group says IMF money is available to prevent crisis and support healthcare.
"We believe the Fund should take additional, deeper actions to expand debt relief, aid to the poorest countries in the world as well as offer greater relief to the so-called Middle Income Countries," wrote Jubilee USA Executive Director Eric LeCompte in a letter to the head of the IMF, Kristalina Georgieva. "This is possible if the fund were to access the $140 billion we believe to be held in the IMF's gold sales reserve. These monies should be utilized to expand debt relief for the 76 poorest countries and other developing countries."
In a review of the latest IMF financial statements and calculating the current market value of the Fund's gold reserves, Jubilee USA estimates $140 billion is available in a "rainy day" fund.
"We are bracing for what could be the worst economic storm in our lifetimes and the time to use IMF gold reserves is now," stated LeCompte a United Nations finance expert who monitored IMF policies for the last decade. "We've used these funds before for Haiti after it was devastated by an earthquake and to get emergency aid to countries hit with the Ebola epidemic. Now is the time to use these funds again."
In order to offer debt relief and grant-like aid after Haiti's 2010 earthquake and when Sierra Leone, Liberia and Guinea were fighting Ebola in 2014 and 2015, monies in the SDA gold sales reserve was utilized.
On Monday a high-level Vatican official and the United Nations Conference on Trade and Development called for a debt "Jubilee" for developing countries. Last week the IMF expanded debt relief facilities and encouraged the G20 to suspend debt payments for the 76 poorest countries.
"Over the last two weeks as the coronavirus took lives and pushed our economy into a recession, world leaders are trying to act quickly to stop a financial crisis that could rival the Great Depression," said LeCompte.
Read Jubilee USA's Letter to the IMF on Reserve Gold Funds here
Read United Nations' Agency and Vatican Calls for COVID-19 Debt Relief here
Read IMF Announcement on Coronavirus Debt Relief and Increased Lending Resources here
Read Analysis of G20 Emergency Meeting on Coronavirus Health and Economic Impacts here
Read IMF and World Bank Call for G20 to Halt Debt Collection for Poor Countries here
Read on Covid-19 Spread, IMF and World Bank Signal Debt Relief for Poor Countries here
Read about Jubilee USA Urging Immediate IMF Covid-19 Action here
Read Jubilee USA's March 23rd Letter to IMF on COVID-19 here
Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.
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77 House Dems Call for 'Full Assessment' of Israeli Compliance With US Law
Lawmakers told the Biden administration they are "deeply troubled by the continued level of civilian casualties and humanitarian suffering in Gaza."
Dec 13, 2024
As Israel continues to decimate the Gaza Strip with American weapons, 77 Democrats in the U.S. House of Representatives this week demanded that the Biden administration "provide a full assessment of the status of Israel's compliance with all relevant U.S. policies and laws, including National Security Memorandum 20 (NSM-20) and Section 620I of the Foreign Assistance Act."
Reps. Jason Crow (D-Colo.), Madeleine Dean (D-Pa.), and Chrissy Houlahan (D-Pa.) spearheaded the Thursday letter to Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin, with less than six weeks left in President Joe Biden's term.
Since Biden issued NSM-20 in February, his administration has repeatedly accepted the Israel government's assurances about the use of U.S. weapons, despite reports from journalists and human rights groups about how they have helped Israeli forces slaughter at least 44,875 Palestinians and injure another 106,454 people in the besieged enclave over the past 14 months.
"Our concerns remain urgent and largely unresolved, including arbitrary restrictions on humanitarian aid and insufficient delivery routes."
House Democrats' letter begins by declaring support for "Israel's right to self-defense," denouncing the Hamas-led October 2023 attack, and endorsing the Biden administration's efforts "to broker a bilateral cease-fire that includes the release of hostages," noting the deal recently negotiated for the Israeli government and the Lebanese group Hezbollah.
"Further, we condemn the unprecedented Iranian attacks against Israel launched on April 13, 2024, and October 1, 2024," the letter states, declining to mention the Israeli actions that led to those responses. "We must continue to avoid a major regional conflict—and we welcome the concerted diplomatic efforts by the U.S. and our allies to prevent further escalation."
"We are also deeply troubled by the continued level of civilian casualties and humanitarian suffering in Gaza," the lawmakers wrote, citing the administration's October 13 letter imposing a 30-day deadline for Israel to improve humanitarian conditions in Palestinian territory. "That deadline has expired, and while some progress has been made, we believe the Israeli government has not yet fulfilled the requirements outlined in your letter."
Asked during a November 12 press conference if the Israeli government has met the administration's demands, State Department spokesperson Vedant Patel said that "we have not made an assessment that they are in violation of U.S. law."
Shortly after that, U.S. Sen. Bernie Sanders (I-Vt.) forced votes on resolutions to block the sale of 120mm tank rounds, 120mm high-explosive mortar rounds, and Joint Direct Attack Munitions (JDAMs) to Israel, but they didn't pass.
Progressives and Democrats in Congress have been sounding the alarm about U.S. government complicity in Israel's armed assault and starvation campaign—which have led to an ongoing genocide case at the International Court of Justice—to varying degrees since October 2023, including with a May letter led by Crow and Rep. Chris Deluzio (D-Pa.) and signed by 85 others.
Citing that letter on Thursday, the 77 House Democrats wrote that "our concerns remain urgent and largely unresolved, including arbitrary restrictions on humanitarian aid and insufficient delivery routes, among others. As a result, Gaza's civilian population is facing dire famine."
"We believe further administrative action must be taken to ensure Israel upholds the assurances it provided in March 2024 to facilitate, and not directly or indirectly obstruct, U.S. humanitarian assistance," the letter concludes. "We remain committed to a negotiated solution that can bring an end to the fighting, free the remaining hostages, surge humanitarian aid, and lay the groundwork to rebuild Gaza with a legitimate Palestinian governing body. We thank you and the administration for its ongoing work to achieve those shared goals."
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IDF Gaza Bombing 'By Far the Most Intense, Destructive, and Fatal' Airwars Has Analyzed
"Save this for the next time you hear that the Israeli military does everything possible to avoid harming civilians, and that the level of civilian harm in Gaza is less than other comparable conflicts," said one advocate.
Dec 13, 2024
The world's foremost monitor of civilian harm caused by aerial bombardment published a report Thursday calling the first 25 days of Israel's ongoing U.S.-backed annihilation of Gaza the worst assault on noncombatants it has ever seen.
U.K.-based Airwars—which over its decadelong existence has meticulously and painstakingly documented civilian casualties in various campaigns of the U.S.-led so-called War on Terror, Russia's bombing of Ukraine and Syria, Turkish attacks on Syria and Iraq, and other conflicts—published a "patterns of harm analysis" examining the first few weeks of Israel's retaliatory assault on Gaza following the Hamas-led attack of October 7, 2023.
"By almost every metric, the harm to civilians from the first month of the Israeli campaign in Gaza is incomparable with any 21st century air campaign," Airwars said in a summary of the report. "It is by far the most intense, destructive, and fatal conflict for civilians that Airwars has ever documented."
Key findings include:
- At least 5,139 civilians were killed in Gaza in 25 days in October 2023, nearly four times more civilians reported killed in a single month than in any conflict Airwars has documented since it was established in 2014;
- In October 2023 alone, Airwars documented at least 65 incidents in which a minimum of 20 civilians were killed in a particular incident, nearly triple the number of such high-fatality incidents that Airwars has documented within any comparable timeframe;
- Over the course of 25 days, Airwars recorded a minimum of 1,900 children killed by Israeli military action in Gaza, nearly seven times higher than even the most deadly month for children previously recorded by Airwars;
- Families were killed together in unprecedented numbers, and in their homes, with more than 9 out of 10 women and children killed in residential buildings; and
- On average, when civilians were killed alongside family members, at least 15 family members were killed—higher than any other conflict documented by Airwars.
"The international community has raised grave concern about Israeli military practice and the unprecedented scale of civilian harm," the report notes. "The United Nations has repeatedly warned that Israel is breaching international law and even United States President Joe Biden, a staunch ally of Israel, eventually labeled the military response 'over the top.' In January 2024, South Africa brought a claim of genocide against Israel at the International Court of Justice."
As of Friday, Gaza officials say that at least 44,875 Palestinians have been killed and 106,464 have been wounded in Gaza. At least 11,000 others are missing and believed to be dead and buried beneath the rubble of hundreds of thousands of bombed-out buildings.
Throughout the new report, Airwars compares Israel's bombardment of Gaza to two other campaigns it has extensively analyzed, the battles for Mosul, Iraq and Raqqa, Syria during the U.S.-led coalition war against the so-called Islamic State. Airwars concluded that more Palestinian civilians were killed by Israeli forces during the first 25 days of the Gaza campaign than were slain in Raqqa during the entire four-month period studied and the deadliest month in Mosul—combined.
The report also pushes back on claims that Israel "does everything possible to avoid harming civilians," and that "the level of civilian harm in Gaza is broadly consistent with, and even favorable to, other comparable conflicts in recent decades."
Save this for the next time you hear that the Israeli military does everything possible to avoid harming civilians, and that the level of civilian harm in Gaza is less that other comparable conflicts… gaza-patterns-harm.airwars.org
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— Huwaida Arraf (@huwaida.bsky.social) December 13, 2024 at 9:27 AM
"The manner in which Israel has conducted the war in Gaza may signal the development of a concerning new norm: a way of conducting air campaigns with a greater frequency of strikes, a greater intensity of damage, and a higher threshold of acceptance for civilian harm than ever seen before," the authors wrote.
Airwars leaves readers with the ominous prospect that, while it is "expecting the overall trends to remain, magnitudes of difference—where measures of civilian harm in Gaza outpace those from previously documented conflicts—are expected to grow."
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Tech Billionaires Get in Line to Support Trump Inauguration Fund
"President Trump will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead," said OpenAI CEO Sam Altman.
Dec 13, 2024
OpenAI CEO Sam Altman became the latest tech titan to make an explicit overture to U.S. President-elect Donald Trump when he confirmed Friday that he intends to make a $1 million to Trump's inauguration fund.
The news comes after Meta confirmed Wednesday that it has donated $1 million to the fund, and it was reported Thursday that Amazon intends to make a $1 million donation. The Washington Postcharacterized Altman's move as "the latest attempt to gain favor from a leading technology executive in an industry that has long been a target of Trump's vitriol."
Altman said in a statement that was sent to multiple outlets that "President Trump will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead."
The donation from Meta follows a trip by Meta CEO and founder Mark Zuckerberg down to Trump's Mar-a-Lago Club to meet with the president-elect last month. Jeff Bezos, Amazon's executive chairman, is slated to head to Florida to meet with Trump at Mar-a-Lago next week, according to The Wall Street Journal.
Zuckerberg and Trump have not always been on the best of terms—Meta temporarily booted Trump from Instagram and Facebook following his comments regarding the January 6 insurrection, and Trump threatened Zuckerberg with lifetime incarceration if Trump perceived that Zuckerberg was interfering in the 2024 election—but Zuckerberg made entreaties to the then-candidate this past summer when he described Trump's response to his assassination attempt as "badass."
Zuckerberg and Meta refrained from donating to Trump's inauguration fund in 2017, and to President Joe Biden's inauguration fund in 2021, according to The Wall Street Journal.
In response to the news that Meta donated to Trump's inauguration fund this time, the watchdog group Public Citizen wrote: "Shocker! Another tech bro billionaire trying to buy his way into Trump's good graces. Zuckerberg donated $1 million to Trump's inaugural fund. $1 million to the man who threatened Zuckerberg with life in prison. Grow a spine."
Journalists Mehdi Hasan described the move as "bending both knees to Trump."
Bezos also chafed against Trump during his first presidency. Trump has repeatedly criticized The Washington Post, which is owned by Bezos, for its coverage of him. In legal proceedings, Amazon also accused Trump of swaying the bidding process when the Pentagon chose Microsoft over Amazon for a lucrative contract because of Trump's disdain for Bezos. However, in a move that was viewed as a signal to Trump, Bezos blocked the Post from endorsing Vice President Kamala Harris just before last month's election.
Margaret O'Mara, a history professor at the University of Washington who focuses on the high-tech economy, said during an interview with NPR the fact that support for Trump isn't happening quietly "is something new."
"It's just a recognition that there's not much to be gained in outspoken opposition, but perhaps there is something to be gained by being very clear about your support and hope that Trump does well," she said.
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