The Central Banker's Central Bank

If you haven't heard about the International Monetary Fund, read this article .  The IMF is sort of the central bank for the world's central banks, and it is gaining influence.  The IMF is funded with taxpayer money from its member nations.  Another great use of your tax dollars!!  As John Perkins explained in Confessions of an Economic Hitman, the World Bank loans money to third world nations that can repay for projects that usually don't benefit the people but the corporations doing the work.  Then the IMF comes along and loans them money to pay off the World Bank loans.  Of course, these loans come with stipulations like "austerity," which means higher taxes and fewer government services.  This ensures the country's bond holders, i.e. the big banks, get paid.  Also much of the country's infrastructure is "privatized," that is sold to chosen private companies.  This is NOT the free market at it.  It is nothing more than worldwide corporatism and is now spreading to the developed world.

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  • 10/26/2010 7:17 AM mark rudis wrote:
    If the IMF is to exist it should do so without American taxpayer money! I have always been suspicious of them and its difficult to investigate exactly what it is they do. The corporate world loves Dems and Repubs, both have been guilty of assistance to the IMF knowing full well what they do with our money. Maybe politicians like Rand Paul, maybe Paul Ryan can make a difference. Its a start!
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  • 10/26/2010 8:55 AM charlie webster wrote:
    I completely agree, money is debt and debt is money. central banks can lend a federal reserve $$ + interest, drowning the government who is already in debt of spent taxpayer money in more debt.
    Reply to this
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