The IMF & World Bank

OK so I go to the IMF website & click on the What the IMF Does Tab & this is part of what it says:

What the IMF Does

“The work of the IMF is of three main types. Surveillance involves the monitoring of economic and financial developments, and the provision of policy advice, aimed especially at crisis-prevention. The IMF also lends to countries with balance of payments difficulties, to provide temporary financing and to support policies aimed at correcting the underlying problems; loans to low-income countries are also aimed especially at poverty reduction. Third, the IMF provides countries with technical assistance and training in its areas of expertise. Supporting all three of these activities is IMF work in economic research and statistics.

Source: http://imf.org/external/work.htm

Ok now lets see what The World Bank has to say:

‘At the World Bank we have made the world’s challenge—to reduce global poverty—our challenge.

Our work focuses on achievement of the Millennium Development Goals that call for the elimination of poverty and sustained development. The goals provide us with targets and yardsticks for measuring results.

Our mission is to help developing countries and their people reach the goals by working with our partners to alleviate poverty. To do that we concentrate on building the climate for investment, jobs and sustainable growth, so that economies will grow, and by investing in and empowering poor people to participate in development.”

Source: http://web.worldbank.org/WBSITE/EXTERNAL/EXTABOUTUS/0,,contentMDK:20040565~menuPK:34563~pagePK:34542~piPK:36600~theSitePK:29708,00.html

Oh man the first thing that comes to mind wow helping poor countries get stuff they need, I say wonderful, good show IMF & World Bank. Oh wait thats what I would say if this were true. The fact of the matter is the IMF & World Bank give out loans that they know they will never get back. So what if true what do they get in return? Well whatever they want. So I want to start this topic with a Youtube video from John Perkins American Economic hit man.

Source: http://www.youtube.com/watch?v=1oipYYihg2c

I have also found some articles on what the IMF & World Bank did in Argentina

Source; http://www.labornotes.org/node/1119

& a powerful story as a result of the IMF & World Bank from washingtonpost.com

http://www.washingtonpost.com/wp-dyn/articles/A47822-2002Aug5.html

So then how do they set all this up? Well the Hit man goes to the leader of a country & says I will make you rich. All you have to do is have your country take out lets say 30 billion $$ in loans. So if the leader says ok then the hit man says don’t worry about paying back that loan & pays off the leader of that country through corporations. So then the country gets the bill with interest & can’t pay. Thats when they start taking land or whatever they want. I think this video from BBC Newsnight sums it up well;

Source: http://www.youtube.com/watch?v=DrynBzUpyag