international monetary fraud

International Monetary Fund

Criticisms of IMF

The IMF Crisis Balance Sheet

Macroeconomics of De-Cashing:
IMF Wants India To Push For A Cashless Society

IMF Changes its Rules to Isolate China and Russia

Reprehensible Campaign for Poverty in Sub-Saharan Africa

'We make or break human life every day of every year'

"The International Monetary Fund and the World Bank float unpayable loans to impoverished countries and then, as part of the agreement, force those countries to sell off all the natural resources and infrastructure to multinational corporations in sweetheart deals." - Roy Dickinson

"International financial institutions often create the conditions for political instability, while covert Western intelligence support to disaffected and radical groups creates the means for rebellion; which then becomes the excuse for foreign military intervention; which then secures an imperial military presence in the region, thus gaining control over the particular region's resources and strategic position. This is the age-old conquest of empire: divide and conquer." - Andrew G. Marshall

"You can't force a country to ask for help. It has to ask. But when it's out of money, it hasn't got many places to turn." - Stanley Fischer, IMF negotiator

The International Monetary Fund and the World Bank have always claimed that every 'altruistic' act they engage in is the interest of stabilization.

The official mandate of the IMF is crisis prevention - not social engineering or ideological transformation - so stabilization is the official rationale.

The reality is that in country after country, engineered debt crisis' have been methodically leveraged to advance the Chicago School of Economics agenda, closely aligned with the bookkeeper's trick.

"The money monopoly translates into a monopoly on violence on an ascending scale." - Richard C. Cook

1944 The International Monetary Fund and the World Bank are devised: United Nations Monetary and Financial Conference at Bretton Woods.

Harry Dexter White* is the mover behind the Bretton Woods Agreement and the formation of the International Monetary Fund and the World Bank.

A number of sources, including the FBI and Soviet archives, as well as the messages decoded by the Venona project, indicate that Harry Dexter White was engaged in espionage activity for the Soviet Union.

The Dulles Brothers, Harry Dexter White and Alger Hiss

"Between 1945 and 1947 huge quantities of gold and platinum were deposited in prominent banks throughout the world.

These deposits came to be known as the Black Eagle Trust.

A global political action fund would use the Black Eagle Trust ostensibly to fight communism, bribe political leaders, enhance the treasuries of US allies, and manipulate elections in foreign countries like Italy, Greece, and Japan.

This trust was headed by Secretary of War Henry Stimson, assisted by John J. McCloy, Robert Lovett and Robert B. Anderson.

Anderson later operated the Commercial Exchange Bank of Anguilla in the British West Indies and is convicted of running illegal offshore banking operations and tax evasion.

Stimson and McCloy, both retired from government service, continued their involvement in the management of the Black Eagle Trust.

Military leaders who opposed foreign policies embracing exploitation of third world countries died from mysterious causes, including George S. Patton, Smedley D. Butler and James V. Forrestal.

The Vulcan's effort to crush Communism and end the Cold War was largely funded by the Japanese plunder.

The Vulcans were resurrected when George W Bush was installed as president in 2000, facilitated by election maneuvers, probably lots of payoffs, and Jeb Bush's purge of Florida voters." - Patricia Goldstone

Mao Zedong

"Politics is war without bloodshed while war is politics with bloodshed."
Mao Zedong

The Great Sparrow Campaign

Chinese journalist Yang Jisheng, who chronicled the famine in his book "Tombstone," estimates the deaths at 36 million people. Massive grain warehouses held enough food to feed the entire country — but the government never released it.

1946 to 1952 Virginius Frank Coe is a leading official of the International Monetary Fund.

He resigns after public calls are made by Congress for his ouster.

1950 Richard Nikolaus Eijiro recieves the first Charlemagne Prize.

Internationaler Karlspreis zu Aachen is a prize awarded for work done in the service of European unification.

1958 Virginius Frank Coe moves to the People's Republic of China to work for the government of Mao Zedong.

Virginius Frank Coe participates in Mao's Great Leap Forward, a plan for the rapid industrialization and modernization of China.

The plan failed leading to millions of Chinese deaths in addition to widespread economic dislocation and is widely regarded both inside and outside the People's Republic of China as a policy and human rights catastrophe.

1969 International Monetary Fund creates Special Drawing Rights.

Special Drawing Rights (ISO 4217 currency code XDR, also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF).

The XDR is the unit of account for the IMF, and is not a currency per se.

1975 "When inflation raged and a world recession triggered a depression in Chile, General Pinochet turned to the Chicago Boys." - Milton Friedman

1983 IMF launches its first "structural adjustment" crusade.

For the next two decades, every country that comes to the fund for a major loan is informed that it needs to revamp its economy from top to bottom.

"Everything we did from 1983 onward was based on our new sense of mission to have the south 'privatized'; towards this end we ignominiously created economic bedlam in Latin America and Africa from 1983-88." - Davison Budhoo, IMF senior economist and structural adjustment program designer for Latin America and Africa in 1980s

This started the privatization landslide.

1985 For laissez-faire economic reforms to be accepted they must be rammed down the throats of the people as they were in Bolivia under the single executive decree of Gonzalo Sanchez de Lozada - DS 21060.

DS 21060, based on "The Brick," contained 220 laws which included an elimination of agricultural subsidies, a canceling of almost all price controls, a 300% increase in the price of oil, deep cuts in government spending, unrestricted imports and the sale of state owned companies - the national oil corporation, the national air line, railway, electricity and phone companies.

The Heritage Foundation credits the "Chicago Boys" with transforming Chile into best performing economy in Latin America and one of the world's most business friendly jurisdictions.

The term "Chicago Boys" has been used to describe Latin American economists who identified with the neolibertarian economic theories taught at the University of Chicago by Milton Friedman and Arnold Harberger.

The winners of the Bolivia asset fire sale included Enron, Royal Dutch/Shell, Amoco and Citicorp - and the sales were direct."

"The important thing is to make these changes irreversible and to get them done before the antibodies kick in." - Gonzalo Sanchez de Lozada


1990 Bank deposits are frozen as part of an emergency fiscal adjustment.

"In common with many other emerging market countries, Argentina's banking sector was liberalized in the 1990s." - Charles W. Calomiris and Andrew Powell, Can Emerging Market Bank Regulators Establish Credible Discipline? The Case of Argentina, 1992-1999

1994 Tequila Crisis creates problems.

90% of all state enterprises - the oil fields, the phone system, the airline, the trains, the airport, the highways, the water system, the banks, the Buenos Aires zoo, the post office and the national pension plan - had been sold to private companies which included Citibank, BankBoston, Suez and Vivendi of France, Repsol and Telefonica of Spain.

"Actual minimum capital requirements by the end of 1994 were some 14 percent of assets at risk - well above minimum requirements set by the Basil standards. Provisioning requirements were tightened significantly at the end of 1994 and throughout 1995." - Frederic S. Mishkin, Prudential Supervision: What Works and What Doesn't

Private market discipline is enhanced by the following policies:

(a) A strictly limited safety net exposes bank depositors to the possibility of loss.

(b) High and credible minimum risk-based capital requirements further ensure that stockholders bear the risk of bank default.

(c) National government programs encourage the privatization of provincial government-owned banks.

(d) A credit rating scheme has been introduced whereby each bank must solicit a credit rating from an internationally active rating agency.

(e) A subordinated debt requirement mandates that banks must issue a subordinated liability for some 2% of deposits each year.

(f) Banks must satisfy a"liquidity requirement" in addition to the capital requirement.

(g) The central bank publishes basic information about bank loans to individuals and firms that borrow from banks.

(h) The quality of accounting data is enhanced by mandatory private audits conducted according to central bank guidelines, and auditors must post a forfeitable bond.

(i) Argentina permits free entry and competition among foreign and domestic banks encouraging bank depositors to punish weak banks by moving their funds to stronger institutions.

Argentina's notoriously corrupt privatization circus is hailed as "A Bravo New World" in an investment report by Goldman Sachs.

"At the time of hyperinflation it's terrible particularly for low-income people and small savers because they see that in a few hours their salaries got destroyed by the price increases, which take place at an incredible speed.

The most important reforms were related to the opening up of the economy, to deregulation and the privatization process.

The only way to implement all those reforms was to take advantage of the situation created by hyperinflation, as the population was ready to accept drastic changes in order to eliminate hyperinflation and go back to normality." - Domingo Cavallo pushed the Cavallo Plan which privatized Argentina's public sector

1997 Southeast Asia monetary crisis exacerbated.

"The day of reckoning has arrived." - José Piñera speaking at the Cato Institute committing on the Southeast Asia monetary crisis

José Piñera, superstar economist for Augusto Pinochet, graduates in 1970 from the Universidad Católica de Chile, at that time closely associated with the Department of Economics of the University of Chicago.

"If you have gangrene in an arm, you have to cut it off." - Augusto Pinochet

"This is the habitual dualist's solution to the problem of dualism: to solve the dilemma by chopping off one of the horns." - Alan Watts

2007 "The human costs of the IMF's opportunism were nearly as devastating in Asia as in Russia.

The International Labor Organization estimates 24 million people lost jobs.

According to the World Bank, 20 million Asians were thrown into poverty in this period of what Rodolfo Walsh would have called "planned misery".

The only lesson learned from the enormously lucrative Asian sell-off appears to have been yet more confirmation of the shock doctrine, more evidence that there is nothing like a true disaster, a genuine churning of society, to open up new economic frontiers.

A few years after the peak of the crisis, several prominent commentators were even willing to go so far as to say that what happened in Asia, despite all the devastation, was a blessing in disguise." - Naomi Klein

"The devil is in the details."

2009 "The current difficulties present an opportunity to tackle long-delayed structural reforms.

While the global financial crisis may not be particularly conducive to pushing ahead with the still extensive privatization agenda, this should not deter the authorities from bold structural reforms.

With vested interests likely off balance, this may indeed be an opportune time to tackle long-standing - politically difficult - issues." - IMF, April 30, 2009

"The International Monetary Fund is being anointed as the global central bank. They've issued debt for the first time in history.

They're issuing Special Drawing Rights (SDRs).

When I say issuing, it's printing money; there's nothing behind these SDRs." - James Rickards, 09/25/09

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