One would like to think that Zhou [the UK and Russia too] arrived at his perspective entirely on his own, but certainly those in the West with whom Zhou interacts would seem to have various pro-IMF prejudices. The first Group of Thirty chairman (the group to which Zhou belongs) has direct links to the IMF. Another member of the Group of Thirty, Paul Volcker was in business with James D. Wolfensohn who became president of the IMF's sister organization, The World Bank.
We were all set to believe that Zhou [the UK and Russia too] came to his conclusions by himself, from rigorous study of the way the world works. But now we are not so sure. And here is a question that gives us a bit of a headache: Where does all this enthusiasm for the IMF come from in the first place? So many important people want the IMF to step up and assume a bigger international role. Why? Â First Gordon Brown, then the Obama administration and even, incredibly, the Kremlin. And now China!
Is it because of the competence of the IMF? No, can't be. The agency itself admits it is incompetent - and others say far worse things about it. And yet the calls for its enlargement continue. It seems almost like an orchestrated campaign, but a campaign that includes Europe, Russia and China? Who or what would have the resources and clout to put together such a campaign? And why would someone - anyone - want to do so. Impossible! And yet ... it really is quite curious. As Alice would say, "curiouser and curiouser ..."
Aside:
The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries. It offers highly leveraged loans mainly to poorer countries. Its headquarters are located in Washington, D.C., USA. The role of this Bretton Woods institution has been controversial since the late Cold War period, as the IMF policy makers supported military dictatorships friendly to American and European corporations. Critics also claim that the IMF is generally apathetic or hostile to their views of democracy, human rights, and labor rights. The controversy has helped spark the Anti-globalization movement. Arguments in favor of the IMF say that economic stability is a precursor to democracy; however, critics highlight various examples in which democratized countries fell after receiving IMF loans.  In the 1960s, the IMF and the World Bank supported the government of Brazil's military dictator  Castello Branco with tens of millions of dollars of loans and credit that were denied to previous democratically-elected governments.
Â
Dominique Strauss-Kahn (DSK) is the Managing Director of the IMF. He served as French Minister for Industry (1991-93). In 1991, he was nominated by Mitterrand to be Junior Minister for Industry and Foreign Trade in Ã"degreesdith Cresson's social-democrat government. He kept his position in Pierre Bà ©rà ©govoy's government until the 1993 general elections. After the electoral defeat of 1993, Strauss-Kahn was appointed by former Prime Minister Michel Rocard chairman of the groupe des experts du PS ("Group of Experts of the Socialist Party"), created by Claude Allà ¨gre. The same year, he founded the law firm "DSK Consultants" and worked as a business lawyer. In 1994, Raymond Là ©vy, then director of Renault, invited him to join the Cercle de l'Industrie, a French industry lobby in Brussels, where he met the billionaire businessman Vincent Bollorà © and top manager Louis Schweitzer; Strauss-Kahn served as secretary-general and later as vice-president. This lobbyist activity earned him criticism from the alter-globalization left.Â
Â
Vincent Bollorà © is a French industrialist, corporate raider and businessman, heads the family investment group Bollorà ©, and is ranked 451st richest person in the world according to Forbes, with an estimated fortune of US$1.7 billion. Bollorà © started his investment career as a bank trainee at investment bank Edmond de Rothschild. His personal investment career began when he took over the reins at his family-controlled conglomerate Bollorà ©, which deals in maritime freight and African trade, and paper manufacturing (cigarette and bible paper). Bollorà © employs 33,000 people around the world.
Back to the Bell:
These two men
[DSK and Bollorà ©] move in impressive circles and it is no wonder that the IMF
continues to have clout on the world stage given the kinds of corporate
personnel behind it. Of course, as we have pointed out above, the IMF's
resources and allies apparently extend far beyond its immediate circle.
And many of these allies seem to want the IMF to play a larger role in world
affairs.
Conclusion: We are not surprised that the IMF is issuing warnings about the grimness of
the world economic climate. It makes perfect sense if one believes that
the IMF leadership is positioning itself for expanded power under
the aegis of the Group of 20 that will meet in April. Certainly the
stars have all aligned. It is an almost magical event - with Europe, Russia and now China all calling for the IMF to have more power and
responsibility. The IMF itself has not shied away from increased duties. It has
publicly declared it doesn't have the resources to do a good job. Now, with this
latest announcement, the IMF shows us that the world is indeed in dire straits.
Must
the IMF come to the rescue? Well, we're not so sure. Maybe the G20
upcoming communiquà © will help change our minds.
So, what happened at the G20 meeting in April? Very simple. They talked about this:
America, this is your future if the globalists have their way. The United Banks of America, One State among many States, under One World Government. You simply must read this article by Willam F. Jasper in its entirety, although I've reproduced much of it here:
Foremost on
the G20 agenda is what globalist movers and shakers refer to as "global
financial architecture reform," code words for transforming the
International Monetary Fund (IMF) into, virtually, a global Federal Reserve
System, with vast new monetary and regulatory powers - and huge new
infusions of cash to be provided principally, as usual, by the citizens of the
United States, Japan, and Europe. In the
run-up to the summit, there was even a stunning proposal made by China, Russia,
a UN panel, and others - and tacitly endorsed by U.S. Treasury Secretary
Timothy Geithner - to replace the dollar as the world's reserve
currency with the IMF's Special Drawing Rights (SDRs). (Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
