Economics/Class Relations

The “Great Reset” Is Real And Wreaking Havoc

Why are global elites demanding poor nations make energy expensive?

Demonstrators block roads and set fires during nationwide protests against the Haitian government’s decision, made under the advice of the United Nation’s International Monetary Fund, to cut fossil fuel subsidies (Photo by Georges Harry Rouzier/Anadolu Agency via Getty Images)

Over the last decade, the World Economic Forum (WEF), the United Nations’ International Monetary Fund (IMF), and the World Bank have all urged poor nations to stop subsidizing fossil fuels. “End fossil fuel subsidies and reset the economy for a better world,” read the headline of a June 2020 WEF article about the launch of its “Great Reset” initiative.

The WEF article quoted the Managing Director of the IMF, Kristalina Georgieva. “We now have to step up, use all the strength we have, which in the case of the IMF is $1 trillion,” she said to create “the great reset, not the great reversal.” By “reversal” she meant returning to the use of fossil fuels, after the pandemic. By “reset” she meant moving to renewables. “I’m particularly keen to take advantage of low oil prices to eliminate harmful subsidies,” she said.

Last week, the government of the small Caribbean island of Haiti took the advice of the IMF, WEF, and World Bank and announced the end of fuel subsidies. The result has been riots, looting, and chaos. A powerful gang leader used public outrage at the announcement to block a port and organize the overthrow of the government. Looters stormed warehouses, making off with food aid. Rioters burned down beach houses and businesses. And several European embassies shut down to protect their staff.

The underlying cause of Haiti’s problems cannot be laid at the feet of the WEF or IMF, and many have exaggerated the role of the Great Reset in policymaking. Haiti has been a ward of the US government and international agencies for decades. In 1994, the UN Security Council authorized a military occupation of Haiti after its military overthrew a democratically elected president in 1991. An earthquake killed over 100,000 and devastated infrastructure in 2010. As for WEF, it has been the subject of ridiculous conspiracy theorists.

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