Live Aid / Live8 – A Monumental Scam

http://falsificationofhistory.co.uk/banksters/live-aid-live8-a-sham/

Since then, Geldof and others such as Bono of the rock band U2 have almost made new careers of being figureheads of poverty relief whilst reaping the benefits these events provide them, that is name and face recognition. For instance, in November 2008, Geldof was paid $100,000 in Australia for a brief speech addressing Third World poverty whilst Bono was recently implicated in a scandal relating to his own charity and its total lack of actual monetary contributions to the causes it is said to support, despite its £12m per annum turnover.

Instead, as Chussodovsky illustrates, the money raised in almost every instance, is used to pay off the corporate creditors of indebted countries. In effect, the entire focus of the money generated by Live8 was to provide direct funds to corporations that were ‘owed money’ by these impoverished nations.

As if that were not sufficiently outrageous, the reality is actually much worse than that. Those same monetary amounts contributed by Live8 to these private corporations to provide more relief to them for the money they had lent to these impoverished nations was then deducted from the direct aid packages and social service programmes formerly contributed by the G8 to these countries.

As Chussodovsky also clearly states, “For each dollar of ‘debt cancellation’ to the international financial institutions, the G8 will reduce the flow of foreign aid to these countries. In other words, the foreign aid earmarked to finance much needed social programs will now go directly into the coffers of the IMF and the World Bank.”

In effect, Live Aid and Live8 were nothing more or less than gigantic propaganda pieces and financial con tricks to repay private institutions and their criminal friends at the IMF and World Bank. Live8 acted as a direct reimbursement process for the creditors of the poorest countries on the planet, while further binding these countries, their industries and exports, to the future predations of the World Bank and IMF.