Letter: China using loans to full advantage

China, as everyone knows, is flush with cash. Nevertheless, it is the World Bank's favorite client. Beijing loves those subsidized World Bank loans and has long been the largest borrower from the World Bank. Those billions of dollars Beijing has borrowed are fungible, of course, meaning that they can be spent on whatever Red China chooses. On May 31 the Beijing Reds announced that they were choosing to allocate $10 billion to kick their strategic nuclear weapons program up a notch.

Since its founding in 1944, the World Bank and the International Monetary Fund plutocrats are not only plundering the American taxpayer and driving the poorest countries into ever more desperate poverty, they are financing the military buildup of our enemies while plotting the convergence of America into their envisioned one-world government.

FRANK PELTESON

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