The fat-cat family which has been mismanaging the nation of Sri Lanka is about to find themselves on the wrong end of the food chain. Starving peasants seem ready to literally “eat the rich.” A tweet from 21st Century Wire came out July 5, relating how dire the crisis has become. The ruling government “has completely collapsed,” they tweet along with a video. “Angry crowds now chasing and killing wealthy people as food and energy shortages hit. Over 200 dead so far, police use live rounds. State of anarchy on one side, police state on the other.”
Sri Lanka in chaos
The police are trying to maintain order with live gunfire as fed up citizens ignore the laws of their useless government. The situation in Sri Lanka has been deteriorating since March, when everyone found out how bad the economy really was.
Prime minister, Ranil Wickremesinghe made an announcement saying that not only is the country bankrupt “but also has no fuel left.” They told all government workers to stay home “due to fuel unavailability.”
Joe Biden is getting hauled over the coals for inflation that’s about to break through the double-digit ceiling and a price at the pump over $5 bucks. He looks like a hero compared to what they’re unable to cope with in Sri Lanka. Their inflation rate is “is expected to hit 60% soon, and transportation costs have gone up 128% in only one month.”
⭕️ #SriLanka has completely collapsed. Angry crowds now chasing and killing wealthy people as food and energy shortages hit. Over 200 dead so far, police use live rounds. State of anarchy on one side, police state on the other. pic.twitter.com/XAxW6uWXBT
— 21st Century Wire 🇾🇪 (@21stCenturyWire) July 6, 2022
They stopped complaining about their price at the pump when gas became priceless. Literally. It can’t be bought anywhere at any price. Wasn’t there a Kinks song about that back in the Jimmy Carter 70’s? Who says history doesn’t repeat itself. The next shipment of fuel into the country wasn’t expected until July 22. Schools are closed. “We have contacted other suppliers, but we can’t confirm any new supplies before the 22nd.”
In what Sri Lanka is calling “one of its most dire economic crises to date,” starving citizens struggle “to procure basic necessities like food and medicine.” Joe Biden already ordered the treasury to print up a quick $20 billion to tide them over, on top of an earlier $12 billion donation, but the citizens can’t eat the money and the government can’t spend it. The International Monetary Fund is managing all the global donations but won’t hand it over until they see some fiscal responsibility.
According to Premier Wickremesinghe, the “nightmare is far from over.” Not only that, they haven’t seen worst of it yet. The incompetent ruling regime has to prove they won’t simply pocket the money. “Due to the state of bankruptcy our country is in, we have to submit a plan on our debt sustainability to IMF separately. Only when they are satisfied with that plan can we reach an agreement at the staff level. This is not a straightforward process.”
Out of currency
While the nation’s 22 million citizens have been enduring the effects of their government’s fiscal abuse for months, it got worse when Sri Lanka started missing their debt payments in May. Since then, the government ran out of hard currency.
Their own money has been toilet paper for a long time but they’re now “out of foreign currency to import critical items, with dire shortages of essentials.” The lack of fuel led to rolling electrical blackouts for 6 hours a day. All the schools are shut and civil employees “ordered” to work from home.
All of this hardship has “caused unrest across the country, with protesters taking to the streets to demand the resignation of President Gotabaya Rajapaksa amid accusations of financial mismanagement.” Before the family seized power, “Sri Lanka was relatively stable with a growing economy and a thriving middle class.”
Sri Lanka has officially declared that it's bankrupt. Civil servants have been instructed to stay home because the country has no fuel left. The next shipment of fuel is expected on 22nd July. Schools are closed. Inflation is nearing 60%.
— Ahmed Mohammed (@M_Ahmed52) July 5, 2022
Thanks to tourism, they were making money until Covid came along. Now, as VisionTimes points out, The South Indian island “demonstrated in action this week what fallout politicians may face if currency devaluation, gasoline, electricity, and food shortages leave citizens in a desperate situation.” Hopefully, Joe Biden’s handlers are taking notes.
At the end of March, when the citizens of Sri Lanka learned the truth about what their fearless leader and his brother the treasury minister had been up to, howling mobs “breached a barricade surrounding President Gotabaya Rajapaksa’s personal home.”
Hundreds were “armed with clubs, iron rods, and stones.” Barricades were toppled and video showed “lines of police being pushed back as a hail of stones rained down upon their vanguard.” Police hauled out the tear gas and water cannons. They thought they had everyone calmed down and under control. They did. Until the gas ran out.