: NATIONS’ EXPERIENCES WITH IMF

PART 5 : NATIONS’ EXPERIENCES WITH IMF

directly affected by IMF interventions —the world’s IMF and CB promote private economy. Private

5.1 Introduction

poor —are those who can least afford it”. economy transfers wealth and generates poverty as we

Yes, there is opposition to IMF, but IMF did serve have shown using the data and graphs. Moreover it is

the purpose of CB to expand its global control and

a dictatorship. Private economy and democracy cannot help to privatize nation ’s wealth and then transfer it to go together [Streeck, 2011], as we have discussed

the rich. In this section we show how IMF forced the before. Therefore people will be always against both

countries into poverty and made rich richer; and how IMF and CB. People want democracy and freedom,

eventually people and government went against IMF whereas private economy wants control of people by

policies. The main theme is that IMF, as an agent of CEOs, which is a dictatorship. Thus there is a

CB, is generating poverty around the globe using the fundamental inconsistency in the operations of global

real objectives (R1-R4) mentioned in previous section. institutions like IMF, WTO, CB etc. Naturally every country will be opposed to them, including western

5.2 IMF and South Korea

countries like Greece, Portugal, Spain, even France The economic crisis of South Korea that began in mid and Italy etc.

1997 is very similar to the 2008 crisis in USA. The In reality the IMF created lot of damage to the CB.

situation as described in [Kim, 2000] is exactly how All the hidden practices of CB became exposed to the

CB manipulates the economy to create recessions. world governments via the open practice of IMF’s

Irony is that no one sees the hand of CB but blames structural reforms, which showed how IMF transfers

other financial institutions and government. But we wealth from bottom economic classes to the upper

know that CB commands all institutions, including class. [Vasquez, ND] says –“The costs to the global

governments, by controlling the supply of money. economy are high, and the people who are most

The IMF funding was requested in December in Poverty caused large scale damage of society by 1997. The result was very consistent with performance

1998 report. Since 1991 more than two million of all other IMF funded countries: Industrial output

premature deaths have resulted from increases in going down, consumer price increasing, GDP

alcoholism, suicide and murder, infectious diseases, contracting, and unemployment rising [Kim, 2000].

and stress-related ailments. One study estimated that 2 The same report also presents the standard

million children have no family caring for them, of deteriorating social conditions: Korean workers were

whom only 650,000 are in orphanages. The rest lived in a desperate situation; triggering an explosion in the

in abandoned houses or in the sewer system of large number of people in homeless and the desperate

cities [Kotz, 1999].

conditions; suicides have risen sharply. Russia was a heaven for the CB. That is, what CB We can see that IMF cannot always work. But it

wanted and got it too. Russia became a supplier of oil definitely performs its real objectives (R1-R4);

to west and importer of consumer goods. No welfare destroys the democracy, government, salaries of the

for people, IMF created a good strong oligarch lower median. It serves the purpose of the CB,

community supporting Yeltsin government at the cost transferring wealth to top fifth. Thus the IMF triggered

of a collapsing economy.

a social problem. This is very common in all From all the above examples we can conclude, developed nations in the west, for CB followed the

IMF implements the same policy that CB has. And it same policy.

is quite natural, because IMF is funded by the CB. For The paper [Yoon, ND] paints a picture similar to

that matter everybody is implementing the policies of what we saw in 2008 bailout in USA: The IMF bailout

the CB, because everybody is funded by money, socialized private debts and coerced Korean taxpayers

which originates from the CB and therefore carries the to pay the international lenders billions of US dollars

DNA of the CB.

for the mistakes of chaebols, banks, and international As we can see that the major policy of the CB is: lenders themselves, inflicting pains on innocent

transfer of wealth. Make very few people rich and people. The IMF bailout is not medicine, not even an

everybody else poor. This is a dictatorship in practice, ineffective placebo, but socialist poison. The Cato

whereas in speech and in disguise the CB says free report [Vasquez, ND] on Korea essentially says the

market, freedom, economic growth, and democracy. same thing about IMF helping banks instead of

All these example cases establish the validity of real people.

objectives (R1-R4) mentioned before. In USA the bailout money for housing crisis was not given to homeowners, but to the banks. If the

5.4 Poverty in Greece

government had given the money to the people we There is another aspect of CB that keeps countries could have created a better recovery. The banks did

poor. Clearly a poor country is poor because there is not take care of home owners. Money injected at the

no money. The CB is refusing to give money to the bottom end of the food chain would have percolated

government to increase the GDP value. Since money through to the top solving the financial crises.

is free and yet CB is not giving, means that CB is maintaining the poverty.

Given money, any country can become rich; we Given complete freedom, what CB will do to a

5.3 IMF and Russia

have seen that happening to China and India. Same country has been uniquely demonstrated in Russia

thing happened to USA also. By controlling the supply after the communism collapsed in 1991 [Kotz, 1999].

of money a prosperous country can be brought down IMF took a bold step in financing Russia, and

to poverty and suffering. Consider the case of Greece controlling the economy using the principles of so

in recent years. Greece’s population is about 11 called free market capitalism with structural changes

million and population of Athens is more than 4 in government. “In a few years what had been a

million.

diversified industrial economy has been transformed [FSIFX, 2012] says – in the early 2000 Greece was into a raw materials exporting appendage of western

one of the leading countries in the Euro zone. capitalism.”

Financial crisis was created, Greece was forced to face As of the end of 1997, according to official

debt crisis, and by 2010 it required a bailout plan and statistics Russia’s gross domestic product had fallen

IMF imposed a massive structural change in the by half since 1991 and its investment in new plant and

government expenditure. [Stratfor, 2012] says after equipment by three-fourths. Russia became dependent

three years of difficult reforms, Greece is entering its on west. Consumer goods came from west and

fifth year of recession, with approximately 25% imported 40% of its food. Buying power of people fell

unemployment. People have begun to migrate. In 2010 to half; the wages were not paid in time [Kotz, 1999].

only 42 people left for Australia, the number soared to 12,000 applications in 2011. About 38,000 people left

laws of nature, therefore it is false, free, and abundant. says in 2011 Greece economy contracted at an

More free money you pour richer will be the annualized rate of 7%. The above data proves how

nation. This has happened to USA, and is happening quickly, IMF and hence the CB, can bring down any

to India and China now. Yet by restricting the supply rich country to its knees.

of free money the central bank (CB) is spreading The reverse is possible also. The poverty of poor

poverty, keeping countries poor, and forcing rich nations is all too familiar; we always watch that in

nations, like Greece, to become poor. worldwide television screens. Since economy is

However, using false money under present policy controlled by CB and not by government, there is no

of profiting, interest charging, giving higher salary, one to blame but the CB. The world population must

creating recessions etc. will, as we have shown with try to find this deep secret, and only then things will or

data and graphs, eventually transfer wealth, spread can change. You pour money to any country, the

poverty, and make everything false for 99% of world country will become rich. Since money is free, the CB

population. We have examined how this economy is should not have any reasons to eliminate poverty. The

destroying democracy, creating mentally, morally, and progress that is happening to China and India can

physically unhealthy people around the globe.

happen to Africa also and within 10 years. We have provided the details and have shown that the moneyless economy (MLE) is the only realistic

and natural law abiding alternative to CB. We have Literature shows how structural adjustment program

5.5 Poverty in Africa

shown how MLE can operate the exact same economy of IMF destroyed small African nations in the

we have now in the exact same way and still provide continent exactly in the same way that we have seen

the life style any one wants. MLE can eliminate IMF has done for other countries like Korea and

poverty and bring heaven on earth. Russia: reforming trade and financial sector to destroy domestic manufacturing sector, led to massive

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