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

“King Henry”

OK so in my Myspace blog yesterday I wrote about how The Secretary of the treasury Henry Paulson was getting new powers in the Bailout Bill.  Well first things first here is the link to that blog ao you know what I said.

http://blog.myspace.com/index.cfm?fuseaction=blog.view&friendID=143406780&blogID=438112501&Mytoken=E683E182-ABDF-41AA-977C2855BED7CA6B116780264

Now anyone who reads that will in all likelyhood think I have a few screws loose. So what I wanted to do is give you a few links to some mainstream news stories talking about this subject.

“Mr. Paulson’s initial proposal to Congress included control over $700 billion with almost no oversight, and it landed him last week on the cover of Newsweek magazine, under the title, “King Henry.”

‘But Mr. Ellis said the Treasury secretary will have “the ability to purchase almost anything he wants,” so long as he designates it a “troubled asset.”

“The oversight panel, Mr. Ellis said, “has no censuring powers of any kind or ability to check him.”

source: The Washington Times October 3, 2008

http://www.washingtontimes.com/news/2008/oct/03/bill-would-hand-paulson-unprecedented-authority/

“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency,” the original draft of the proposed bill says.”

“The bigger issue is that the bill effectively creates protections not just for the Treasury, but for the executives on Wall Street who created this near Armageddon. Mr. Rosner says that the draft bill “prevents judicial review that could allow the protection of decisions that create false marks, hide prior marks, or could be used to prevent civil or criminal prosecution in situations where a management knowingly provided false marks that aided the growth of this crisis of confidence.”

Source: The New York Times September 22, 2008

http://www.nytimes.com/2008/09/23/business/23sorkin.html

i just wanted to give you guys something to think about. Am I crazy? Leave me a comment & let me know