How Will This Affect World Bank Group Pension Plans?
By E. Anthony Shields, CPA, MBA, Former World Bank and IFC’s Financial Accounting Policy Specialist.
Under The World Bank Articles of Association should the Bank face bankruptcy through country default due to global economic crisis, which is on the horizon for March 2023, staff pension assets have been designated to be used to pay off creditors whereby the country of citizenship of each staff member would be “expected”, not necessarily “required”, as there is no legal obligation to do so, to pick up the pensions of retired World Bank Group staff at each member country respective national level and standard, to the extent that WBG staff members contributed to or paid into their country of residence and/or citizenship national pension plans. G-IV visa holders and permanent residents of the United States would be most seriously affected as they do not pay into the US Social Security system.
CREDIT SUISSE IS IN A POSITION TO BRING DOWN THE ENTIRE GLOBAL FINANCIAL SYSTEM. HOW WILL MEMBER COUNTRIES, SADDLED WITH HUGE AMOUNTS OF “NON-DEVELOPMENT” PHARMACEUTICALLY ORIENTING, INDUCED AND ENRICHING THIRD PARTY DEBT FORCED UPON THEM BY A NON-PRODUCTIVE, NON-DEVELOPMENTAL GLOBAL PANDEMIC AGENDA, GLOBALLY ORCHESTRATED TO FINANCE WORLD ECONOMIC FORUM’S (WEF) INSPIRED AND MOTIVATED “CERTIFICATE OF VACCINATION IDENTIFICATION 2019 OPERATION RESPOND? It should be noted that COV-ID-19 is an acronym that is not a legally defined word, disease, term or thought in any court of law under UN Charter.
The use of any undefined word, term or acronym in any legal agreement, document or contract makes the agreement null and void constituting fraud under all systems of justice under the UN Charter.
The accounting for these risks has not been addressed by US GAAP, IASB, IFRS or federal or state banking regulations since the financial instruments project started in the late 1980s.
Learn how credit default swaps could trigger a global recession or financial meltdown.
