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Posts tagged ‘IMF’

The World Bank is a great institution. We just need the right person to run it.

Dominant Social Theme: The World Bank is a great institution. We just need the right person to run it.

Free-Market Analysis: The World Bank is a part of a kind of “tag team” with the International Monetary Fund. The World Bank lends money to dictators and sundry thugs and then when these unsavory individuals abscond, the IMF is hauled in to make the people pay.

The process enriches Western corporations and ultimately creates more control for the Western power elite that has constructed the globalist echelon to begin with. The UN, the World Bank, the IMF, the International Criminal Court and many other internationalist entities are hopelessly corrupt and evidently were designed to be so.

Every part of the globalist government-in-waiting deals with other governments, and all the corruption this entails. The entire elitist mechanism is focused on providing a variety of bureaucrats with fiat money-from-nothing in order to first distort developing world economies and then collapse them.

This basic mechanism has been documented endlessly by the Internet’s alternative media, and choosing an African to run the World Bank won’t change an iota of the larger corrupt system.

That doesn’t stop the Economist, a leading mouthpiece of the power elite, from making the case that by switching the titular head from a Western person to an African person will somehow make a difference in what the World Bank is and what it was intended to be. Here’s more from the article:

The World Bank is the world’s premier development institution. Its boss needs experience in government, in economics and in finance (it is a bank, after all). He or she should have a broad record in development, too. Ms Okonjo-Iweala has all these attributes … She has not broken Nigeria’s culture of corruption—an Augean task—but she has sobered up its public finances and injected a measure of transparency. She led the Paris Club negotiations to reschedule her country’s debt and earned rave reviews as managing director of the World Bank in 2007-11. Hers is the CV of a formidable public economist …

Ms Okonjo-Iweala is an orthodox economist, which many will hold against her. But if there is one thing the world has discovered about poverty reduction in the past 15 years, it is that development is not something rich countries do to poor ones. It is something poor countries manage for themselves, mainly by the sort of policies that Ms Okonjo-Iweala has pursued with some success in Nigeria.

full article at source: http://www.thedailybell.com/3752/The-World-Bank-Is-Hopeless-and-Changing-Leaders-Wont-Help

Merkozy continuing to ignore Greek realities

Today’s meeting between Sarkozy and Merkel is being framed in the context of continued pressures across the euro area (see report on the meeting here). More ominously – within the context of the euro area leadership duet ignoring the latests warning signs for Greece.
Per Der Spiegel report, IMF has changed its analysis of the Greek rescue package agreed in July 2011 in-line with IMF changes in forecasts for Greek economy in the latest programme review in December 2011. Specifically, IMF lowered its forecast for growth from -3% to -6% GDP.
Der Spiegel cites IMF internal memo in claiming that the Fund is viewing existent Greek programme (including to 50% ‘voluntary’ haircut on Greek bonds currently under negotiations) as insufficient to stabilize the Greek economy and fiscal situation

full article at source:http://trueeconomics.blogspot.com/2012/01/912012-week-opener-merkozy-continuing.html

The Greek Tragedy – Chaos Beckons

March 25 - Greece Independence Day

Image by Aster-oid via Flickr

A Hopeless Case?

The IMF has just released its most recent assessment of the ‘progress’ of its austerity program in Greece. As a reminder, Greece currently ‘enjoys’ an economic depression that is more and more reminiscent of the downturn of the early 1930’s.  Its GDP has been in contraction for 12 quarters running, most recently at an annualized rate of 5.5%. The rate of unemployment oscillates around the 18% mark – official unemployment, that is. Consumer confidence has collapsed, industrial production has been in decline at double digit rates since early 2008. The stock market is down by 90% from its 2007 highs and the government’s one year note yields an absurd 330%. The banking system is de facto bankrupt and subject to an accelerating flight of deposits.

You get the picture – these are the kind of economic data that normally indicate that the society concerned is only a small step away from major social upheaval and a descent into conditions of chaos. At the very extreme end of such a process it could experience what is essentially a collapse of civilization, with the division of labor increasingly breaking down and society transmogrifying into a collection of small islands of autarkic, primitive hand-to-mouth economic units that no longer even trade with each other.

To everybody’s vast surprise, the IMF has just concluded that Greece once again ‘failed to meet its targets’ as per the austerity program imposed on it by its bailout lenders.

full article at source: http://www.acting-man.com/?p=12489

 

Now IMF Seeks Collective, World Bail-Out of Europe

IMF wants the world to save Europe … Christine Lagarde, the managing director of the IMF, said the escalating crisis now needed to be addressed as “collectively as possible” … The European financial crisis is “escalating” and is so serious that it is unlikely to be solved by eurozone countries alone, the head of the International Monetary Fund warned Thursday night. British taxpayers are now likely to be involved in an internationally co-ordinated bail-out led by the International Monetary Fund [IMF] for countries in the single currency. Christine Lagarde, the managing director of the IMF, said the escalating crisis now needed to be addressed as “collectively as possible”. Without action, the world faces the spectre of a 1930s-style depression, she said. – Montreal Gazette/UK Telegraph

full article at source:http://www.thedailybell.com/3356/Out-of-Chaos-Order-Now-IMF-Seeks-Collective-World-Bail-Out-of-Europe

Budget a mere sideshow to Merkozy’s grand plan

English: The International Monetary Fund (Head...

Image via Wikipedia

By David Mc Williams

In the past 24 hours, three dramatic developments have taken place, each of which will have a profound effect on your life in the next few years. Although all three are related, it is not quite clear which one will be most significant.

First, of course, is our own Budget. It has been well flagged, much leaked and seems to be more of a holding exercise than a decisive move one way or another. Many will argue that there is little point in talking about “austerity” while sticking broadly to a plan which sees state spending running at €57bn while State revenue is €20bn less than that.

Others will point out that if the State doesn’t fill the gap by spending then nobody else will. The fact is that people are not spending, which means that the economy would contract even more if the State cuts too quickly.

This argument will rage, but it can’t be seen in isolation because the legitimacy of the ”cut now or cut later” discussion is linked to what is going on in Europe. If the Europeans fail to save the euro, then what — you might ask — is the point of us being good boys in the eyes of the EU elite? If you believe that the euro will not survive the next few months, then it would be sensible for Ireland to put in train plans to default and devalue, sizzling foreign creditors and starting again. This would mean cultivating a much closer relationship with the IMF because, after all, this is what the IMF does and has done over and over again in the past: it manages these big moments.

full article at source:http://www.davidmcwilliams.ie/2011/12/07/budget-a-mere-sideshow-to-merkozys-grand-plan

Why Ireland should join dollar or sterling currency now

By

CHRISTOPHER M. QUIGLEY

“On Thursday 18th  November 2010 The IMF arrived in the Emerald Isle. What  a sad sad day that was  for the proud people of Ireland. Following 300  years of armed struggle the then resident Fianna Fail government replaced  English masters with the Continental variety. However the method of usurpation  this time was not guns and bullets and starvation but economic and financial  prowess. To the victor will go the spoils.”

Read more: http://www.irishcentral.com/news/Why-Ireland-should-join-dollar-or-sterling-currency-now–119999509.html#ixzz1bPASclK1

Hit the Streets! European Day of Action

The people from the Enough! Campaign
have sent us this notice of the up-coming demonstration against the cuts
and austerity measures the IMF and ECB are forcing on to the Irish Public. If
you can manage it please do come out and support this effort. As always we
encourage you to bring your Children after all this is on their behalf.

Saturday, October 15 · 1:00pm – 5:00pm  from Parnell Square Dublin

The IMF-EU-ECB (Troika) are back in Ireland on October 15th.Their austerity polices are causing immense suffering and are making the economic crises worse.Meanwhile bondholders and super wealthy are getting off scot-free. This time they are demanding we sell up to 5 Billion worth of state assets. We are selling the family silver to pay for zombie banks.

 They want to cut public sector pay again and they want to further dismantle… protections for low paid workers. They plan to slash social welfare,education,special needs assistants and close hospitals A&Es. They also plan to close social housing,introduce a hosehold tax and water tax.

ESB, Board Gais, Coillte, Aer Lingus are all all on the auction block. State enterprises like the ESB are what transformed Ireland from a third world country to a modern economy. Putting these vital public assets in private hands is disastrous.

The Eircom privatization set Ireland back years on broadband. Rail privatization in Britan led to more rail disastrous. due to cutbacks in signalling.The same will happen here with electricity ,power and water. Private companies are only interested in making profits not in running a good public service. Selling the ESB off will just transfer the social wealth into private hands.

 In fact the ESB shows what proper state investment can achieve. The ESB transformed Ireland through it’s electrification scheme. It delivered high quality jobs and cheap electricity. In the fact of mass unemployment and immigration we should be investing in state companies to create jobs.

 This has been the IMF’s Policies for decades. They load a country with more debt than what they already have,and then demand the sell off  of state assets in order to pay them back, knowing full well that the country has to much debt and when that country defaults they demand more privatization, this can be their water,hospitals,prison and even school systems. Africa has has been devastated by these policies ,life expectancy of the population has declined and in the end the countries have ended up owing just as much as when they started.

Ireland’s debt is odious. Illegitimate debt. It is the debt of the bankers and private speculators. Let them pay their own debt! FG and Labour have completely reneged on their election promises to burn the bondholders.

 We the tax payers,have to cover the bank’s debts but there is no similar bail out for homeowners in mortgage arrears or workers who have lost their jobs or workers who have lost their jobs. If we do not stop them this country will be thrown back to the 1920s.

 But they can be stopped. Mass protest can force the government and the IMF to back down. Three years ago the pensioners forced the government to back down.If we all stand together we can push them back.

link to facebook : https://www.facebook.com/home.php#!/event.php?eid=160108907409461

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