RE: RE: How The World Bank and IMF Keep Developing Nations Poor
You are viewing a single comment's thread from:

RE: How The World Bank and IMF Keep Developing Nations Poor

Words
433
Reading
2 min
6y

I'm 100% with you on all of this. The IMF and World Bank are projects of the U.S. pentagon basically and a economic colonialism. Michael Hudson has excellent insight and experience with all of this, and knew Alan Greenspan in the 1960s and talks about what a suck up toady he is (as an aside, I'm not at all a anti-semite, but it is astounding how many Fed chairs have Jewish backgrounds; the run from Volcker-Greenspan-Bernanke-Yellen for instance; and all part of the Yale-Princeton complex, control center for the oligarchy).

In a just world, any currency system would support individual national currencies, not manipulate everyone to be dependent on dollars, I mean everyone can see how corrupt it is, but they don't want to. The classic formula is support a dictator, they waste all the money on weapons and corruption, hide funds for themselves, and then leave the nation sunk in debt. Or speculators from the Western nations that control markets attack currencies and devalue them (Asian Tigers economic crisis of late 90s). They only country that has been left off the hook basically was Japan, since they are the Western placeholder in Asia. They are successful in Western capitalism yet they had absurd money printing starting in the 1980s yet their currency wasn't devalued by the west.

But yes, it is economic colonialism, pure and simple, and much smarter than war in that approach. It also ties in with what Yanis Varoufakis details as the break down of the Bretton Woods, semi-gold standard system and how the U.S. has the rest of the world pay for the U.S. debts by all nations having to buy dollars and U.S. treasuries to hold reserves. It's been a brilliant scam. Yet even so the people of the U.S haven't largely benefited except the military industrial complex and wall st., many U.S. citizens live in the precariat on the verge of poverty or bankruptcy.

As i like to say, we still live in the middle of history, with bizarre and corrupt systems. Just look at the mess of the history of money in the u.s., it is a mix of hocus pocus and the fantastical, i just found this great overview last night:

And in 2020 the deflation vs. inflation chaos still rages; depending on the velocity of money, the amount of goods and services available, and the ability of it to escape to other parts. Looks like deflation before inflation as most are understanding better currently.

Peace
for any reason I can also be reached at [email protected] if I eventually evaporate from this platform (-: