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Posts tagged ‘World Bank’

Nobel economist Stiglitz: ‘I’m astonished at Irish ability to suck up austerity pain’

ANOBEL-winning economist Joseph Stiglitz has described the Irish ability to suck up the pain associated with austerity as ‘astonishing’.and he described our ability to deal with the pain without taking to the streets and rioting like our neighbours in southern Europe as akin to religious ideology.

“It’s like a view that you have sinned, Greece has sinned – redemption through pain. It’s almost a religious notion that if you sinned so badly, you have to feel the pain to get redemption,” he told RTE’s Morning Ireland in an interview.

He said the notion of taking billions out on economy in austerity budgets, as has happened here, was ‘totally absurd’ and that economists know it does not work.

“Why that was not understood by European leaders was beyond me.”

Columbia Uniiversity Professor Stiglitz has never been a fan of austerity and the former chief economist at the World Bank has voiced his views in the past but he said Ireland will recover…………………………

full article at source: http://www.independent.ie/business/irish/nobel-economist-stiglitz-im-astonished-at-irish-ability-to-suck-up-austerity-pain-29737373.html

Comment:

Mr Stiglitz,

Make no mistake the gangsters who brought this misery on our people, and the crooked politicians who sold us out will pay a heavy  price all in good time! We have long memories ,we are not all sheep here!

Karen Hudes World Bank Whistleblower

World Bank Whistle-blower: “Precious Metals To Serve As An Underpinning For Paper Currencies”

I had the opportunity yesterday to speak with one of the western world’s most courageous and astute women, Karen Hudes, Former Senior Counsel to the World Bank—now turned whistle-blower.

It was a powerful conversation, as Karen spent 20 years with the World Bank as an attorney and economist, before being “let-go” after reporting internal fraud and corruption.

During the interview Karen indicated that the world is rapidly changing, with western power structures breaking down, economic & political influence gravitating to BRICs nations, all amid a pending currency transition which will highly favor precious metals.

Starting out by discussing the shocking centralized power she witnessed while working at the World Bank, Karen explained that, “A study done by three [Swiss] systems analysts who used mathematical modeling [shows]……..

full article at source: http://bullmarketthinking.com/world-bank-whistle-blower-precious-metals-to-serve-as-an-underpinning-for-paper-currencies/

The Oligarchs Of The West Keep Churning Their Wheels But Only Manage To Get Deeper Into The Mud

By Benjamin Fulford

Last week 20,000 bureaucrats, journalists and government officials descended on Tokyo for a WB (World Bankrupt) and IMF (International Masturbation Fund) meeting and accomplished exactly nothing.

The meeting was a total waste of time because neither of these two Western controlled institutions are willing to hand over control to the people and countries of the world. As a result, the 180 or so countries that are kept out of the control room naturally refused to hand over any more money to these defunct, unlicensed institutions.

Although this writer was in Tokyo and even walked within a few hundred yards of the festivities, he did not bother to go because having attended many such meetings over the years, he knew this one was doomed to be a dud. The Chinese made their feelings clear by not sending anybody senior.

As usual, the real news was happening under the surface where a titanic battle against the old world order continues to rage. In one development in that battle, at least $1.3 billion that went missing from the Japanese AIJ pension………………………….

Full article at source:  http://shiftfrequency.com/

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

AT THE EDGE OF THE ABYSS

By: Gary_North

The challenge for the Group   of 20 talks in Washington on Thursday and Friday is to prevent a sovereign debt   crisis centered in Greece from turning into a full-blown banking crisis. Such a   crisis could engulf other indebted European countries, lead to messy defaults   and plunge the region and world back into economic and financial   turmoil. “We have entered a   dangerous new phase of the crisis,” said Christine Lagarde, managing director of   the International Monetary Fund, last Thursday. “To navigate it, we need strong   political will across the world – leadership over brinkmanship.”World Bank President Robert   Zoellick a day earlier said: “The time for muddling through is over.” There is still some vague   hope that the G-20 can come up with a permanent solution. There is hope that   this crisis will calm.But how? There is no   agreement on which countries will give how much to Greece. Then there are   Portugal and Italy on the sidelines.

Investors are pulling money   out of French banks, which have over €670 billion in PIIGS bonds on their   books.

full article at source here: http://www.marketoracle.co.uk/Article30544.html

comment:

Well the proverbial can is now so badly battered by been kicked down the road so many times it has lost its lustier and the effort required to kick it still further down the road is not worth it! At some stage the ECB must face reality it is costing just too much to keep propping up Greece and the rest of the PIGGS. The markets are looking for a settlement once and for all and putting more austerity on these countries is only going to
cause more downward pressure in the already battered economies .The ECB must
find a way to access fresh capital and on a long term bases and I believe euro
bonds are perhaps the only game the world markets will accept now. The political
cost of this will be a federal government of a political and economic unified Europe.
But is this what the peoples of Europe want I doubt it very much!

China Blasts U.S. Debt Problems, Urges New Global Reserve Currency

By the daily Bell

China on Saturday condemned the “short-sighted” political wrangling in the United States over its debt problems and said the world needed a new global stable reserve currency. “China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets,” China’s official news agency said in a commentary. “International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country,” it said. – Reuters

Dominant Social Theme: It’s time to let Christine Lagarde and the other “wise leaders” at the IMF run the world’s money.

Free-Market Analysis: Well, this certainly comes as no surprise. We have been ringing the bell on this one for a while now. In fact, we ran a staff report back in March 2009, titled China Wants IMF to Manage New One-World Currency. The essence of what we said in that article, as well as many others dealing with Money Power’s insatiable desire to fasten a global currency yoke on the entire world’s population, is that out of the fiat-manufactured chaos we have today, it is likely that global order will be promoted as the cure to all our monetary ills. The IMF, a globalist organization to be sure, along with the World Bank, will be marketed by the establishment politicians, NGO think tanks and mainstream media outlets as the only logical way to alleviate the markets of their instability and overall confusion. The eurozone experiment alone should be enough of a wakeup call – for anyone that cares to see – that stitching together a bunch of systemically bankrupt nations’ fiat currencies does nothing to alleviate the rot inherent in the design and nature of the money-stuff system itself. We truly hope the world escapes from the grasp of the globalists’ fiat-fangs and that this plan of unification does not become a reality. What the world needs, in our opinion, are private currencies competing in a free-marketplace where governments have no involvement in either the issuance of currency or its management. Let the market decide what to use as money and keep the State and unelected global government agencies out of it.

source: http://www.thedailybell.com/2771/Daily-Bell-Briefs-China-IMF-World-Currency-US-Debt-Downgraded-ECB-Intervention

Comment:

 

Allowing Lagarde  of the IMF and her bad run a world currency is
definitely not the answer to the world’s financial problems .Things are bad but
we are not fools ,just look at the mess Europe is in ,all we will be doing is
allowing a new super select group of untouchables dictate to the world terms
that suite the super rich and well connected and we have enough of this in Ireland
.These are the same people that are telling us Austerity is the answer and at
the same time they tell us we need to grow our economies .But their imposed
austerity measures are in fact squeezing every drop of available credit out of
the economy and without credit for small business to restock and upgrade we
might as well whistle dixi for our food on the table !If Austerity worked all
the poor countries would be in the middle of boom times .No a world currency on
these people’s terms is the road to eternal financial slavery. No Thanks !

 

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