Known collectively as the Bretton Woods Institutions after the remote village in New Hampshire, U.S.A., where they were founded by the delegates of 44 nations in July 1944, the Bank and the IMF are twin intergovernmental pillars supporting the structure of the world's economic and financial order. The Bretton Woods Institutions are the World Bank, and the International Monetary Fund (IMF). They were set up at a meeting of 43 countries in Bretton Woods, New Hampshire, USA in July 1944. Their aims were to help rebuild the shattered postwar economy and to promote international economic cooperation. The original Bretton Woods agreement also included plans for an International Trade Organization (ITO) but these lay dormant until the World Trade Organization (WTO) was created in the early 1990s. The IMF would create a stable climate for international trade by harmonizing its members' monetary policies, and maintaining exchange stability. It would be able to provide temporary financial assistance to countries encountering difficulties with their balance of payments. The World Bank, on the other hand, would serve to improve the capacity of countries to trade by lending money to war-ravaged and impoverished countries for reconstruction and development projects.
How could we have Agenda 21 implemented into our frameworks, one might ask, we borrowed just a bit too much, couldn't come up with the note and the IMF levied a lean on our freedom. IMF Funding Chief Dominique Strauss-Kahn was apparently fixing to put on a dramatic show to somebody, as he was arrested for another show, not on his agenda.
How might you ask a lean could be placed on the USA: Dominique Strauss-Kahn is a primarily as a supervisor to the institution to which promotes international monetary cooperation and facilitates the growth of international trade. This is to be achieved through maintaining monetary exchange stability and assisting member countries who are experiencing balance of payments problems. Is that why he was here or was it to get support from the Good ole Boy network in Washington for his re-election back in France.
Upon membership of the IMF, member countries deposit a sum of money known as a 'quota subscription' and I wonder how much of our undisclosed monies are in their banks? This sum will determine how much money the country can draw from the Fund in times of crisis. Quotas also determine the voting rights of each member country, which means, like the World Bank, decision-making power in the IMF rests with the countries with the highest contribution.
The IMF lends money to member countries faced with balance of payments problems, i.e when a country fails to earn sufficient foreign currency—through exports or provision of services—to pay for its imports. In return for financial assistance from the IMF, borrower countries must implement a set of economic reforms aimed at overcoming their balance of payments problems. Loans are disbursed in installments and payment is tied to the countries' compliance with the structural adjustment policies. Ah-ha! Agenda 21, the LOST Convention was ratified making room for implementation of “economic reforms aimed at overcoming their balance of payments problems.”
1. loan conditionality based on what is termed the ‘Washington Consensus’, focusing on liberalization—of trade, investment and the financial sector—, deregulation and privatization of nationalized industries.
2. conditionality a loss of a state’s authority to govern its own economy as national economic policies are predetermined under IMF packages. Issues of representation are raised as a consequence of the shift in the regulation of national economies from state governments to a Washington-based financial institution.
3. World Bank’s role in the global climate change finance architecture has also caused much controversy.
4. Moreover, the Bank’s role as a central player in climate change mitigation and adaptation efforts is in direct conflict with its carbon-intensive lending portfolio and continuing financial support for heavily polluting industries, which includes coal power.
5. The increasing use of financial intermediaries such as private equity funds and funding of companies associated with tax havens.
6. IMF and World Bank packages have also been associated with negative social outcomes such as reduced investment in public health and education.
ANY OF THIS SOUND FAMILIAR? Hm, or it could be a coincidence that the Head of IMF was in the United States, as our President Obama and President Dominique Strauss-Kahn are both campaigning for dollars to deals? Sounds just a bit like the 'Good Ole Boy' Country Club to me and the only winners here are those in the club; us, you say, we are the indigenous peoples of the area, of no real consequence.
This type of ideology must stop. We the People is more than words by the 'Tea Party', they are your words and mine that they borrowed. We as the people must see we are being taken for a ride and will not return, if we get into the car! Believe in our ten simple words of solidarity; “Principles Before Party, Personality, and Profits, with Deeds not Words.”
In-Kind Pol. Adv., for and approved by Gary A. Anderson,
Exploratory Candidate US Senate Fl. 2012