If all the multi millionaires in the world each gave a million to 3rd world debt, how much debt would be left?

Question

And really and truthfully, how many of them would really miss the odd million????

Answer 1

NONE.

What is REALLY needed though is NOT just Money but Integrity, Honesty, Good Education, Down to Earth Common Sense and GOOD GOVERNMENT.

There is too much Corruption and Money spent on stupid egocentric meglomaniac civil projects (like Dams which clog up) instead of SUSTAINABLE DEVELOPMENT.

Oh and Unnecessary Weapons and Armaments which just go to fuel pointless Wars and Destruction.

Case in Point - IRAQ - With all that OIL - Could have been one of the RICHEST countries in the World.

In 1975 the World bank was saying things like Iraq can be the Switzerland of the Middle East.

In 1980 Iraq had LOADS OF MONEY!!! It had a better HEALTH SERVICE then Britain or America. Health Care in Iraq was FREE! I should know I met Iraqis at University who told me about all this.

SO What does Mad Bad Sad Saddam Hussein DO:
1) Invade Iran in a reckless Military Adventure - causing a 10 year war 1980 to 1990.
RESULT: Over 1 Million civilian and military casualties.
Country Bankrupted and NO MONEY in the Bank.
2) So what does Saddam then do - Invade RICH Kuwait in 1991 to Top up his Bank Balance and so it goes on..........

This is all so Sad and Tragic.
I hope you get the picture of why some of these countries are now so poor.

Yours

The Hebrew Hammer a.k.a. Mordechai Jefferson Carver

Fighting For Peace and Justice

"I'd Rather be a Hammer than a Nail" -- Simon & Garfunkel

Answer 2

It is not money that will help the third world nations. Most of them do receive a lot of aid but the corruption puts nearly all of it in the hands of a very few. Billions have been sent already and there still is a huge problem. Nations borrow money supposedly for the people but once they get it they never use it as it should be used. Many have no intention of ever paying their debts just as many of you will never pay yours. I have spent the last 13 years in third world nations so I know very well money is not what is needed,. Some developing nations are doing quite well and do need investors. By investing properly the nations benefit much more than they do by gifts. Wealthy people do give money and a lot of it to help others. Who do you think finances most of the charities.

Answer 3

The only reason there is a 3rd world debt is because they owe the US all the money. Our leaders have felt it was important to give those countries loans and then not turn around and get it back. You might as well just give the millions to the US government and tell them to take it off the balance sheet of one of those countries. It all belongs here anyways. And if the prople in those countries don't like the way their country is being run, then move! Just don't come to the US, we already have too many here.

Answer 4

Does third world debt get paid back anyway? Even if you cleared the debt tomorrow it would start all over again. It isn't the answer, they need to be able to help themselves. Also, you have to be careful that despotic rulers don't get their hands on it. It would take a thousand multi millionaires to pay off one billion, and I am sure that third world debt runs into many billions. But why should they pay off a debt that they didn't create? Don't get overly concerned with the third world because we are on the way to joining them; or should I say, "they are joining us".

Answer 5

It wouldn't even make a noticeable dent in the debt of 3rd world nations. Besides, if they did, it would most likely wind up in the pocket of the President, Prime Minister, King of the country to which it was given.

Answer 6

The point is who are the people being exploited to provide the multi-milionaires with their wealth?

In general it is the third world countries population.

Multi-milionaire football players exploit the fans. Some of these millionaires originate from third world countries.

To make the changes you would like, you would first have to change 'human nature'.

Answer 7

One of the biggest problems is money that is given. It very often doesn't get to where it's intended.
If rich people really wanted to help world debt then they should set up their own projects. Or a collective business to deal with it to counter the corruption.

Answer 8

None. The reason so many people are poor and so many nations are in debt is that 90% of the world's wealth is in the hands of 5% of its population.

Answer 9

Most of it. Corruption is so rampant in 3rd world countries that most of the money would be swiped by people in positions of power.

And if I had 3 million bucks and someone forced me to donate a third of my hard-earned cash with no compensation, I'd be pretty pissed (not to mention most of that money probably isn't in the form of cash, but is tied up in real estate, house, etc)

Answer 10

How the hell do i know!! i agree with your sentiments, i think that people who have that much money should give something back to those less fortunate than them i.e. children in ethiopia etc because at the end of the day what is the likelihood of them ever being out of pocket... none because i bet they couldn't spend the amount of money they have in a lifetime!!