May 2024 - cypherpunks - lists.cpunks.org

World Bank warns record debt levels could put developing countries in crisis | World Bank | The Guardian
by Gunnar Larson 18 May '24

18 May '24

https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-cou… Skip to main content <https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-cou…>Skip to navigation <https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-cou…>Skip to navigation <https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-cou…> Sign in <https://profile.theguardian.com/signin?INTCMP=DOTCOM_NEWHEADER_SIGNIN&ABCMP…> The Guardian - Back to homeThe Guardian <https://www.theguardian.com/> Support us <https://support.theguardian.com/us/contribute?REFPVID=lq9z884eub2z0f7t6734&…> - News <https://www.theguardian.com/> - Opinion <https://www.theguardian.com/commentisfree> - Sport <https://www.theguardian.com/sport> - Culture <https://www.theguardian.com/culture> - Lifestyle <https://www.theguardian.com/lifeandstyle> Show More - News - Opinion - Sport - Culture - Lifestyle - Search input google-search Search - - Support us <https://support.theguardian.com/?INTCMP=side_menu_support&acquisitionData=%…> - Print subscriptions <https://support.theguardian.com/subscribe/weekly?REFPVID=&INTCMP=undefined&…> - US edition - - - Search jobs <https://jobs.theguardian.com/> - Digital Archive <https://theguardian.newspapers.com/> - Guardian <https://puzzles.theguardian.com/download>rgent action is needed to prevent record debt repayments by the world’s poorest countries developing into a full-blown crisis, the <https://www.theguardian.com/business/retail>World Bank <https://www.theguardian.com/business/worldbank> has warned. - <https://www.facebook.com/dialog/share?app_id=180444840287&href=https%3A%2F%…> - <https://twitter.com/intent/tweet?text=World+Bank+warns+record+debt+levels+c…> - <?subject=World%20Bank%20warns%20record%20debt%20levels%20could%20put%20developing%20countries%20in%20crisis&body=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2023%2Fdec%2F13%2Fworld-bank-debt-levels-countries-crisis%3FCMP%3Dshare_btn_link> The Washington-based multilateral body said the escalating cost of servicing past borrowing caused by rising interest rates wa The Bank sounded the alarm in its latest International Debt Report, which showed the sharpest rise in global borrowing costs in four decades had pushed payments on the external debts of all developing countries to $443.5bn in 2022. “Record debt levels and high interest rates have set many countries on a path to crisis,” said Indermit Gill, the World Bank Group’s chief economist and senior vice-president. “Every quarter that interest rates stay high results in more developing countries becoming distressed – and facing the difficult choice of servicing their public debts or investing in public health, education, and infrastructure. The situation warrants quick and coordinated action by debtor governments, private and official creditors, and multilateral financial institutions – more transparency, better debt sustainability tools, and swifter restructuring arrangements. The alternative is another lost decade.’’ After a prolonged period of low interest rates, the US Federal Reserve and other central banks have responded to higher inflation by raising rates. The World Bank said this had intensified debt vulnerabilities for low income and middle income countries. In the past three years alone there have been 18 sovereign defaults in 10 developing countries – greater than the number recorded in all of the previous two decades, while about 60% of low-income countries are at high risk of debt distress or already in it. <https://adclick.g.doubleclick.net/pcs/click?xai=AKAOjsvAY1ly-ae9IDNrXR-AgE9…!> [image: Israel-Gaza war live: Israeli strikes kill 90 Palestinians in Jabalia refugee camp, says Gaza health ministry][image: ‘He’s dog-whistling’: Trump denounced over anti-immigrant comment][image: Republican royalty to liberal heroine: Liz Cheney finds an anti-Trump niche][image: US man charged in four murders lured victims with promise of buried gold][image: Russia shoots down 35 Ukrainian drones as both sides step up attacks] <https://www.theguardian.com/world/live/2023/dec/17/israel-gaza-war-live-net…> Debt campaigners <https://www.theguardian.com/global-development/2023/nov/30/new-push-for-deb…>have said the situation requires a comprehensive strategy for easing the financial burdens of poor countries on the scale of the initiatives produced in the late 1990s and early 2000s. The Bank said debt was a particular problem for the 75 low income countries eligible for low interest rate loans and grants from its International Development Association (IDA). Debt service payments for this group of countries reached a record $88.9bn in 2022 after a quadrupling of interest payments in the past decade. Overall debt-servicing costs for the 24 poorest countries are expected to balloon in 2023 and 2024 – by as much as 39%, the report found. Flows of private finance had dried up, Gill said. “This report makes it clear who has – and who has not – thrown a lifeline to countries struggling to meet key development objectives. As interest rates climbed in advanced economies, private creditors followed the money in 2022: they largely withdrew from developing countries, pulling out $185bn more in principal repayments than they disbursed in loans. That marked the first time since 2015 that they have withdrawn more funds than they put into developing countries.” skip past newsletter promotion <https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-cou…> Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning *Privacy Notice: *Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy <https://www.theguardian.com/help/privacy-policy>. We use Google reCaptcha to protect our website and the Google Privacy Policy <https://policies.google.com/privacy> and Terms of Service <https://policies.google.com/terms> apply. after newsletter promotion He added: “Today, one of every four developing countries is effectively priced out of international capital markets. For the poorest countries, debt has become a nearly paralysing burden: 28 countries eligible to borrow from the IDA are now at high risk of debt distress. Eleven are in distress. These developments constitute a grave danger to prospects for progress on global development goals.” Many of the lowest-income countries faced an extra burden – the accumulated principal, interest, and fees they incurred for the privilege of debt-service suspension under the G20’s Debt Service Suspension Initiative, which was announced during the height of the Covid-19 pandemic in 2020. The Bank said vulnerable countries already struggling to keep up their payments could be pushed over the edge by a further rise in interest rates or sharp drop in export earnings. $1,405,308 contributions $1,500,000 our goal I hope you appreciated this article. Before you move on, I wanted to ask if you would consider supporting the Guardian’s journalism as we prepare for one of the most consequential news cycles of our lifetimes. *We need your help to raise $1.5m to fund our reporting in 2024.* >From Elon Musk to the Murdochs, a small number of billionaire owners have a powerful hold on so much of the information that reaches the public about what’s happening in the world. The Guardian is different. We have no billionaire owner or shareholders to consider. Our journalism is produced to serve the public interest – not profit motives. And we avoid the trap that befalls much US media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality. While fairness guides everything we do, we know there is a right and a wrong position in the fight against racism and for reproductive justice. When we report on issues like the climate crisis, we’re not afraid to name who is responsible. And as a global news organization, we’re able to provide a fresh, outsider perspective on US politics – one so often missing from the insular American media bubble. Around the world, readers can access the Guardian’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news, or not. *If you can, please consider supporting us with a year-end gift from $1. Thank you.* Betsy Reed Editor, Guardian US [image: Betsy Reed, Editor Headshot for Guardian US Epic] Contribution frequency One-time Monthly Annual Contribution amount $5 per month $7 per month Other Continue <https://support.theguardian.com/us/contribute?selected-contribution-type=MO…> Remind me on New Years Eve [image: Accepted payment methods: Visa, Mastercard, American Express and PayPal] Explore more on these topics - World Bank <https://www.theguardian.com/business/worldbank> - Economics <https://www.theguardian.com/business/economics> - Global economy <https://www.theguardian.com/business/global-economy> - news <https://www.theguardian.com/tone/news> - <https://www.facebook.com/dialog/share?app_id=180444840287&href=https%3A%2F%…> - <https://twitter.com/intent/tweet?text=World+Bank+warns+record+debt+levels+c…> - <?subject=World%20Bank%20warns%20record%20debt%20levels%20could%20put%20developing%20countries%20in%20crisis&body=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2F2023%2Fdec%2F13%2Fworld-bank-debt-levels-countries-crisis%3FCMP%3Dshare_btn_link> - <http://www.linkedin.com/shareArticle?=title=World+Bank+warns+record+debt+le…> - - Reuse this content <https://syndication.theguardian.com/automation/?url=https%3A%2F%2Fwww.thegu…> Most viewed - Business <https://www.theguardian.com/business> - Economics <https://www.theguardian.com/business/economics> - Diversity & equality in business <https://www.theguardian.com/business/diversity-and-equality> - Small business <https://www.theguardian.com/business/us-small-business> - Retail <https://www.theguardian.com/business/retail> - News <https://www.theguardian.com/> - Opinion <https://www.theguardian.com/commentisfree> - Sport <https://www.theguardian.com/sport> - Culture <https://www.theguardian.com/culture> - Lifestyle <https://www.theguardian.com/lifeandstyle> Original reporting and incisive analysis, direct from the Guardian every morning Sign up for our email <https://www.theguardian.com/info/2018/sep/17/guardian-us-morning-briefing-s…> - About us <https://www.theguardian.com/info/about-guardian-us> - Help <https://www.theguardian.com/help> - Complaints & corrections <https://www.theguardian.com/info/complaints-and-corrections> - SecureDrop <https://www.theguardian.com/securedrop> - Work for us <https://workforus.theguardian.com/> - - Privacy policy <https://www.theguardian.com/info/privacy> - Cookie policy <https://www.theguardian.com/info/cookies> - Terms & conditions <https://www.theguardian.com/help/terms-of-service> - Contact us <https://www.theguardian.com/info/about-guardian-us/contact> - All topics <https://www.theguardian.com/index/subjects/a> - All writers <https://www.theguardian.com/index/contributors> - Digital newspaper archive <https://theguardian.newspapers.com/> - Facebook <https://www.facebook.com/theguardian> - YouTube <https://www.youtube.com/user/TheGuardian> - Instagram <https://www.instagram.com/guardian> - LinkedIn <https://www.linkedin.com/company/theguardian> - Twitter <https://twitter.com/guardian> - Newsletters <https://www.theguardian.com/email-newsletters?INTCMP=DOTCOM_FOOTER_NEWSLETT…> - Advertise with us <https://advertising.theguardian.com/us/advertising> - Guardian Labs <https://www.theguardian.com/guardian-labs-us> - Search jobs <https://jobs.theguardian.com/> Back to top <https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-cou…> © 2023 Guardian News & Media Limited or its affiliated companies. 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Bad Bunny?s Sports Agency Sues MLB Union Over Agent Restrictions
by Gunnar Larson 18 May '24

18 May '24

https://www.bloomberg.com/news/articles/2024-05-17/bad-bunny-s-sports-agenc… Rapper Bad Bunny’s sports agency, Rimas Sports, is suing the Major League Baseball Players Association for tortiously trying to put the agency out of business.

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Pa. Justices OK Teacher 'Character' Test For Suspended Atty
by Gunnar Larson 18 May '24

18 May '24

Pa. Justices OK Teacher 'Character' Test For Suspended Atty <https://www.law360.com/legalethics/articles/1829570?nl_pk=153d4a8a-6fb9-4a5…> By Matthew Santoni The Supreme Court of Pennsylvania on Thursday upheld a lower court's ruling that an ex-attorney's disciplinary records can be used by the state Department of Education when evaluating whether that attorney has the "good moral character" to get a teaching license. Order attached | Read full article » <https://www.law360.com/legalethics/articles/1829570?nl_pk=153d4a8a-6fb9-4a5…> | Save to favorites » <https://www.law360.com/legalethics/articles/1829570?nl_pk=153d4a8a-6fb9-4a5…>

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Fwd: SpaceX Interlocking Directors’ Intent to Manipulate Markets
by Gunnar Larson 18 May '24

18 May '24

!!! ---------- Forwarded message --------- From: Gunnar Larson <g(a)xny.io> Date: Thu, Nov 2, 2023, 12:52 PM Subject: Re: SpaceX Interlocking Directors’ Intent to Manipulate Markets To: <letitia.james(a)ag.ny.gov> Cc: <ir(a)twitter.com>, Harris, Adrienne A (DFS) <Adrienne.Harris(a)dfs.ny.gov>, <district3(a)council.nyc.gov>, Reader, Shaun <sreader(a)curtis.com> Dear Madam Attorney General James: xNY.io - Bank.org kindly seeks a response from your office concerning the message below. Today in Manhattan, the FTX case will soon be sent for jury deliberation. According to NPR, "... FTX founder Sam Bankman-Fried is accused of orchestrating one of the largest financial frauds in history." Additionally, today Donald Trump's civil fraud trial continues in New York City. Attorney General James, as you are aware xNY.io - Bank.org has an ongoing dialog with your office concerning a 'RICO.' The New York State Department of Financial Services records office has responded with a memo concerning the "Las Vegas Museum of Organized Crime and Law Enforcement" here: https://drive.google.com/file/d/1reLapm-6C0QJZhPKIPtN5HZGbYhTxZMh/view?usp=… . This memo aims to execute N.Y. Executive Law, Article 15 § 297. Procedure 1. Additionally, § 298-a. Application of article to certain acts committed outside the state of New York, (Israel Crisis). Kind regards, Gunnar -- Gunnar Larson xNY.io - Bank.org MSc - Digital Currency MBA - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-917-580-8053 New York, New York 10001 On Sat, Jun 18, 2022, 4:44 PM Gunnar Larson <g(a)xny.io> wrote: > Dear Attorney General Letitia James: > > xNY.io - Bank.org, PBC seeks to earn your esteemed approval to engage the > New York False Claims Act under urgent pretences. > > Today's correspondence marks the first time in history, a self-titled > "mafia" (aka, the "PayPal Mafia '') is compelled to answer publicly the > decision to manipulate both the New York False Claims Act and the Martin > Act against one another. > > - Madam Attorney General, your leadership approach has historical > context > <https://www.nytimes.com/2019/12/10/climate/exxon-climate-lawsuit-new-york.h…> > to logic and ultimate Exxon Mobil vs. New York State > <https://drive.google.com/file/d/1nLp9RIYw8mAh1SRG8E9PMEK94SV-viUN/view?usp=…> case > precedent. > - xNY.io - Bank.org, PBC research and development notes our hawkish > approach to ESG, D&O and LBO innovation. > - xNY.io - Bank.org, PBC sees this not a democrat vs. republican > concern as Mr. Elon Musk (CEO, SpaceX and Tesla) claims. False pretense to > protect free speech are now being debated as party to a $200B pryamid > scheme. > > Ms. James, on May 21, 2022 xNY.io - Bank.org, PBC > <https://docs.google.com/document/d/1lv9Wt6y1ld4bNap0z3epIxttEGiP_oVpfxH0GTS…> > contacted the SpaceX Corporation with reasonable concern of CEO Musk's > intent behind the $44B Twitter LBO. The Orlando Police Pension Fund shared > similar concerns to the intent behind Twitter's LBO as illegal. > > Since, market forces suggest that SpaceX and Tesla directors are part of > interlocking directorate, self proclaimed the PayPal Mafia. The racket > could waterfall to problem(s) at the New York State Department of Financial > Services with Superintendent association to D&O insurance regulation. > > Ms. James, xNY.io - Bank.org, PBC seeks your office's urgent assessment of > this matter. We aim to earn approval to explore the New York False Claims > Act to confront SpaceX as a racket. > > *Like a house of cards, the PayPal Mafia racket could risk a waterfall of > D&O interlocking directorate insolvencies. In summary: * > > 1. xNY.io - Bank.org's May 21, 2022 memo to SpaceX questioned intent > behind baseless claims pioneered by SpaceX's CEO, branding ESG a scam via > Exxon Mobil. Obviously, Exxon Mobil vs. New York State > <https://drive.google.com/file/d/1nLp9RIYw8mAh1SRG8E9PMEK94SV-viUN/view?usp=…> alludes > Mr. Musk party to a false claim. > 2. SpaceX has failed to establish a preponderance of evidence and > burden of proof not a racket. > 3. SpaceX has failed to prove that Twitter's LBO is not false claim to > free speech protection. > 4. True social innovation cannot sponsor a fake news racket that could > jeopardize space exploration and war. > 5. Twitter's LBO dealmakers (Goldman Sachs and JP Morgan Chase) > company balance sheets, financial statements and other corporate records do > not impact xNY.io - Bank.org, PBC holding a racket accountable to false > claims. > > The CEO of SpaceX and Tesla leveraging Exxon Mobil as an ESG > securities scam does not preclude the PayPal Mafia's intent to engage false > claims at the sacrifice of New York State's financial future. > > Madam Attorney General James, we hope to hear from your esteemed office > and learn assessment of best next steps. > > Thank you, > > Gunnar > > -- > *Gunnar Larson * > *xNY.io <http://www.xny.io/> - Bank.org <http://bank.org/>, PBC* > > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - > Digital Currency > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship > and Innovation (ip) > > G(a)xNY.io > +1-646-454-9107 > New York, New York 10001 > > On Sun, May 22, 2022 at 9:34 AM Gunnar Larson <g(a)xny.io> wrote: > >> May 21, 2022 >> >> BY ELECTRONIC MAIL >> >> SpaceX Corporation >> Board of Directors >> One Rocket Road >> Hawthorne, California >> 90250 >> Sales(a)SpaceX.com >> >> Re: Potential SpaceX Interlocking Directors’ Intent to Manipulate >> Markets >> >> Dear SpaceX Board of Directors: >> >> From our New York headquarters, xNY.io - Bank.org, PBC embodies the >> notion that rather than a merry-go-round, the process of change and >> innovation is like a slide. >> >> Today’s memo aims to notify the SpaceX Corporation of concern of >> potential market manipulation that could impact cross-border digital asset >> innovation, free speech in the United States of America, the global ESG >> economy and Moon exploration. >> >> Please find the attached memo >> <https://docs.google.com/document/d/1lv9Wt6y1ld4bNap0z3epIxttEGiP_oVpfxH0GTS…> >> addressed to SpaceX's board of directors. >> >> Respectfully, >> >> Gunnar Larson >> >

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BREAKING: Calif. Jury Finds Samsung Breached Contract With Netlist
by Gunnar Larson 18 May '24

18 May '24

BREAKING: Calif. Jury Finds Samsung Breached Contract With Netlist <https://www.law360.com/technology/articles/1838582?nl_pk=2bd720dd-746c-4744…> By Craig Clough A Los Angeles federal jury found on Friday that Samsung materially breached its contract with chipmaker Netlist by cutting off its supply of crucial memory products, delivering a significant win for Netlist in its multi-jurisdictional patent fight with Samsung even though no monetary damages were at stake. Read full article » <https://www.law360.com/technology/articles/1838582?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/1838582?nl_pk=2bd720dd-746c-4744…>

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Daniel Perry needs killing ( my 2k sats )
by pro2rat＠yahoo.com.au 18 May '24

18 May '24

Those who steal must pay Daniel Perry needs killing ( my 2k sats ) https://en.m.wikipedia.org/wiki/Murder_of_Garrett_Foster Reposts for advisement only not list-hating noise from serial pests like Semich and Larson

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Senate Passes Bill To Block SEC Crypto Accounting Guidance
by Gunnar Larson 17 May '24

17 May '24

Senate Passes Bill To Block SEC Crypto Accounting Guidance <https://www.law360.com/compliance/articles/1838091?nl_pk=ab5ce197-c1fb-4d8e…> By Aislinn Keely The U.S. Senate voted Thursday to send a bill overturning the U.S. Securities and Exchange Commission's controversial crypto accounting guidance to the president's desk, though without the necessary votes to override the White House's planned veto. Read full article » <https://www.law360.com/compliance/articles/1838091?nl_pk=ab5ce197-c1fb-4d8e…> | Save to favorites » <https://www.law360.com/compliance/articles/1838091?nl_pk=ab5ce197-c1fb-4d8e…>

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PTAB Will Review Cash-Out Patent Challenged By DraftKings
by Gunnar Larson 17 May '24

17 May '24

PTAB Will Review Cash-Out Patent Challenged By DraftKings <https://www.law360.com/delaware/articles/1838028?nl_pk=8f2e5a76-bb66-462b-a…> By Adam Lidgett The Patent Trial and Appeal Board said Wednesday it will review a patent owned by DraftKings Inc. rival Colossus Bets on a way for gamblers to "cash out" of a sports bet to cut their losses before a game is over. Decision attached | Read full article » <https://www.law360.com/delaware/articles/1838028?nl_pk=8f2e5a76-bb66-462b-a…> | Save to favorites » <https://www.law360.com/delaware/articles/1838028?nl_pk=8f2e5a76-bb66-462b-a…>

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Conn. Justices Snatch Debt Collection Practice Of Law Case
by Gunnar Larson 17 May '24

17 May '24

Conn. Justices Snatch Debt Collection Practice Of Law Case <https://www.law360.com/banking/articles/1837965?nl_pk=feb6bbba-7878-4d39-be…> By Emily Sawicki The Connecticut Supreme Court has opted to hear a case that questions whether the state's banking commissioner or its judicial branch has the power to regulate debt collection activities that occur under the purview of law firms, leapfrogging the case over the state's intermediate appellate court and into the state's highest court. Notice attached | Read full article » <https://www.law360.com/banking/articles/1837965?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1837965?nl_pk=feb6bbba-7878-4d39-be…>

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3rd Circ. Revives Wesco Retirees' ERISA Fee Case
by Gunnar Larson 17 May '24

17 May '24

3rd Circ. Revives Wesco Retirees' ERISA Fee Case <https://www.law360.com/delaware/articles/1838106?nl_pk=8f2e5a76-bb66-462b-a…> By Patrick Hoff The Third Circuit reinstated a proposed class action Thursday accusing Wesco Distribution Inc. of letting its employee retirement plan pay exorbitant administrative fees, ruling a trial court's "partly valid" criticisms of the suit weren't enough to warrant dismissal. Opinion attached | Read full article » <https://www.law360.com/delaware/articles/1838106?nl_pk=8f2e5a76-bb66-462b-a…> | Save to favorites » <https://www.law360.com/delaware/articles/1838106?nl_pk=8f2e5a76-bb66-462b-a…>

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