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Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

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Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#191

Post by RobertRoberts »

croon wrote: post #167
RobertRoberts wrote: post #157

Earlier quoted context omitted.

Does anyone really think Bill Gates is a superior moral person with no ulterior motive at all? And if you think so, can you provide proof, or just assumption? History almost universally shows that the rich and powerful manipulate both the people and their image for their own good, not for the well being of the peasants.

> Does anyone really think Bill Gates is a superior moral person with no ulterior motive at all? And if you think so, can you provide proof, or just assumption? > History almost universally shows that the rich and powerful manipulate both the people and their image for their own good, not for the well being of the peasants. I never have any heroes, because they can all fall from grace. In Bills case I'm sure he did s…

>What we can do is judge him from his actions. Actions are proof of what he's doing.

It's very easy to give something you have an abundance of. I don't see how his good is better than other rich peoples, just because we know about it? Because it's front page news? That makes it "good"?

I am not willing to jump to the conclusion his motives are altruistic for these reasons alone.

Do you know if he is getting a kick back from this payment? Or preferential treatment of some kind? What if he is allowed to hide some heinous acts in Nigeria because of this payment? And it's actually a bribe? Considering how the world works, this seems a more likely explanation.

Again, how do you know this is a "good" thing that he paid someone's debt? I mean, in truly absolute terms? I don't see how it's possible to "know". I think you can guess and assume, that is all.

Look up the financial crises in many other countries, why did he help only Nigeria? This just seems suspicious to me. Perhaps I am unreasonably cynical. If he does this again and again, maybe that will be proof? But just one country? That is not convincing, that is suspicious.

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#192

Post by MaxBarraclough »

unabridged wrote: post #6

The problem is a charity paying off your debt does not make your credit better. While its slightly better than a writeoff/forgiveness because the creditor isn't as angry, it still shows they can't pay back loans. Is a future creditor going to count on a charity showing up to pay them off?

Hopefully this will be a small nudge aiding the general development of the country, which could eventually let it earn an upgrade to its credit rating.

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#193

Post by MaxBarraclough »

petermcneeley wrote: post #43
labster wrote: post #34

Earlier quoted context omitted.

Having read Slashdot 15 years ago, a part of me is shocked to hear anyone wish that Bill Gates stays rich. But don't worry, Bill will be just fine.

Indeed. Apparently his wealth increased 13% last year. He would have to give at much higher rates to actually reduce his total wealth. Perhaps the perception is that if he was giving his money away then his net wealth would go down?

Gates is playing the long game, investing and spending, not just flooding his chosen causes with cash to spend this year.

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#194

Post by anc84 »

shaftoe wrote: post #185
skc wrote: post #145

The current richest person in Africa (with a net worth of just under 13 billion US dollars) comes from Nigeria. I hope he's taking notes.

He died recently and I'm helping his lawyer transfer his money out of the country. I'll email the lawyer and see if he might be willing to donate some of the royal estate to a humanitarian cause like this.

If you need some help getting inherited money out of Nigeria, I have lots of experience in e-mail-based initiation of intermediate.

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#195

Post by fiblye »

remir wrote: post #21

I'm I the only one who thinks that Japan kinda looks bad here? I mean, Bill's foundation is already dedicating $3B a year on development assistance, couldn't Japan just say to Nigeria: "You don't have to pay us back. Consider it a donation". How could they reasonably expect Nigeria to pay them back $76M?

It makes Nigeria look bad. Why lend money to a country that's just going to wait around for some megabillionaire from another country to make a goodwill effort to take care of its problems?

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#196

Post by fiblye »

Consultant32452 wrote: post #64
krapp wrote: post #62

Earlier quoted context omitted.

This was a loan, possibly from the taxpayers, it wasn't charity. Governments don't just "lose track" of $76 million owed to them. Or at least, they shouldn't. Presumably, Nigeria agreed to the terms, so I don't see the issue.

I'm sure Nigeria did agree to the terms, but if I were a citizen of Japan I would be embarrassed that the money was not just gifted as part of a foreign aid program.

Nigeria's got a population 50% larger than Japan and they're the largest economy in Africa. I don't see why little countries should be expected to give up their cash to bigger countries just because it's "polite" or something.

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#198

Post by baud147258 »

gaius wrote: post #164
nikanj wrote: post #153

Earlier quoted context omitted.

Lining the pockets of leaders and their friends is a cost-of-doing business in democracies. Yes, an economy would do better without that, but it very much does happen in all well-developed economies.

Lining the pockets of leaders If you consider the most hated politician in the UK, Tony Bliar, he netted a personal fortune of estimated £20m. That’s a tiny fraction of what a dictator could amass in a far poorer country.

Tony Blair?

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#199

Post by baud147258 »

dreen wrote: post #189
throwwwwaway9 wrote: post #158

Earlier quoted context omitted.

A more correct title would be "Bill and Melinda Gates Are Paying Off Nigeria's Polio Related $76M Debt to Japan." So Bill Gates wants to eradicate polio and has been funding countries. In this Japan loaned it to Nigeria and Bill Gates paid it off. Paying debts for third world countries (is this still politically correct?) is not efficient, might as well give it directly to their leaders--you save on fees. A corrupt t…

third world countries originally ment states not aligned with USA, Nazi Germany or USSR, during and after ww2. this actually included ireland.

Yeah, but that's not the meaning currently used since the end of the cold war.

Re: Bill and Melinda Gates Are Paying Off Nigeria's $76M Debt to Japan

#200

Post by saint_fiasco »

RobertRoberts wrote: post #191
croon wrote: post #167

Earlier quoted context omitted.

> Does anyone really think Bill Gates is a superior moral person with no ulterior motive at all? And if you think so, can you provide proof, or just assumption? > History almost universally shows that the rich and powerful manipulate both the people and their image for their own good, not for the well being of the peasants. I never have any heroes, because they can all fall from grace. In Bills case I'm sure he did s…

>What we can do is judge him from his actions. Actions are proof of what he's doing. It's very easy to give something you have an abundance of. I don't see how his good is better than other rich peoples, just because we know about it? Because it's front page news? That makes it "good"? I am not willing to jump to the conclusion his motives are altruistic for these reasons alone. Do you know if he is getting a kick ba…

> why did he help only Nigeria? This just seems suspicious to me. Perhaps I am unreasonably cynical. If he does this again and again, maybe that will be proof?

Bill Gates has been a philanthropist for a while. They have helped poor people in several countries in several ways like malaria/polio eradication, education and family planning.

For each project they always write about why they think it is a good use of their money. For example, they don't spend their money in charities that help charismatic cute puppies find owners, which is what I would do if I wanted to look generous. They don't spend in expensive hospital and university buildings which is what I would do if I wanted to take kickbacks.

You can read more about it in their website https://www.gatesfoundation.org/

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