"Let me issue and control a nation's money and I care not who writes the laws." ─ Amschel RothschildWhat follows below is a link to a video investigating the predatory tactics used by non-traditional household lenders in the United States. What fascinates me is just how remarkably similar the logic of the extreme usury is precisely that which governs the bail-out schemes being overseen by the International Monetary Fund, or IMF, to address the domino-effect of global financial failures.
The IMF is a global banking organization formed from the framework agreements and treaties resulting from the Bretton Woods, NH conference of 1944. Its 187 members include governments, their central banking authorities as well as a "club" of private banking institutions. Its purpose is to oversee global financial dealings among members and, if necessary, intervene where payment and transfer imbalances occur (i.e. when a country owing money to IMF members defaults on its debts).
To understand what the IMF has done since the financial crisis' worst phase so far began in 2006-2007 (i.e., Iceland, Ireland and now Greece, Portugal and possibly Spain), it sometimes helps to reduce to simple terms--examples and metaphors--the often complex and obtuse workings of the group.
To understand what the IMF has done since the financial crisis' worst phase so far began in 2006-2007 (i.e., Iceland, Ireland and now Greece, Portugal and possibly Spain), it sometimes helps to reduce to simple terms--examples and metaphors--the often complex and obtuse workings of the group.
The PBS® video below is just such a simplification; a parable of the unethical and oft-fraudulent tactics used in America at the household finance level. But on a much larger scale, this is precisely what IMF "bail-outs" are all about; practices that border on criminal usury involving whole nations on the scale of hundreds of billions of dollars.
Consider that these financial crises imply the wholesale subversion of debtor nations which must implement socially destructive austerity programs and liquidate public assets in order to honour new foreign debts that merely came to replace old sovereign debts originally structured to fail.. The sinister element necessarily evokes the sort of surrealism, a nightmare, that only Franz Kafka could conjure.
©2006-2011 Patrick Meguid. All rights reserved.
