A Bigger, Bolder Role Is Imagined For the IMF ** Major Shift in How Global Economy Is Run **

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DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
A Bigger, Bolder Role Is Imagined For the IMF ** Major Shift in How Global Economy Is Run **

Exerpts from Full Article

Surrounded by blond wood paneling and a digital screen the size of a cinema's, central bankers and finance ministers would meet to convene a financial security council of sorts. Serving almost as ambassadors to the IMF, they would debate ways to put out the world's economic fires and stifle reckless policies before they ignite new ones.

DrKrbyLuv comments:
A cabal of private central banks, including the Federal Reserve, are meeting along with "finance ministers" to solve the problems that they created. And, what about "We the People" - do we have any say? The discussion that we should be having is why don't we fire the Federal Reserve and take back the control and the issuance of our money - for free.

Bowing to a new economic world order, the IMF would grant fresh powers to the likes of China, India and Brazil. It would have vastly expanded authority to act as a global banker to governments rich and poor. And with more flexibility to effectively print its own money, it would have the ability to inject liquidity into global markets in a way once limited to major central banks, including the U.S. Federal Reserve.

DrKrbyLuv comments:
Bowing to what "new economic world order"? Is the writer saying that a financial coup d'etat has taken place? We do not need or want the parasitic Federal Reserve and we sure don't need the IMF to "act as a global banker to governments rich and poor." We are subjugating our national sovereignty to a private group of international bankers.

That image of a radically transformed IMF -- whose role in the global economy had turned largely advisory in recent years -- is now coming together through internal IMF documents, interviews and think-tank reports. Finance ministers from major nations will begin grappling with the formidable details of the IMF's makeover this weekend when they converge in Washington for the fund's biannual assembly.

The changes, broadly outlined by President Obama and other leaders of the Group of 20 nations in London earlier this month, could take months, even years to take shape. But the IMF is all but certain to take a central role in managing the world economy. As a result, Washington is poised to become the power center for global financial policy, much as the United Nations has long made New York the world center for diplomacy.

DrKrbyLuv comments:
"Broadly outlined"?? Obama has already said that he "won't second guess the Fed...which is an independent body." He said this during a press conference without the aid of a teleprompter - in one of his few unscripted responses, he allows that the Federal Reserve is above or equal to US Presidency. So who is negotiating on our behalf?  The writer implies that this may be good since "Washington is poised to become the power center for global financial policy."  This is another MSM con-job, the IMF will take power away from Washington, it will not usher in new power - it will only bring more debt.

"The IMF is changing, and with it, there will be a sea change in the way the world economy is run," said C. Fred Bergsten, director of the Peterson Institute for International Economics. "Their role will dramatically shift. You're talking about monitoring fiscal stimulus, moving toward tighter regulations for financial institutions. You're talking about global economic management in a way we have never seen."  Already, the economic crisis is triggering a profound cultural shift, with the IMF moving away from its long-held mission to spread the gospel of capitalism around the globe.

The IMF, Strauss-Kahn suggested, will become less ideological. Critics maintain the fund is still attaching too many restrictions to its longer-term bailouts for poor countries. But the IMF has signed off in recent weeks on no-strings-attached credit lines for countries with solid economic track records, offering $47 billion to Mexico and $20.5 billion to Poland.

"If the fund is considering a country and is technically convinced that privatization of any enterprise is needed to fix the country today, let's privatize. But if it's a general idea of privatization that has nothing to do with the problem, let's forget it," Strauss-Kahn said. "At the same time, if nationalization will help, let's do it."

DrKrbyLuv comments:
They are bidding and jockeying on our future...absent our input or preference. "President Barack Obama on Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's resources and urged a bigger stake in the IMF for emerging powers."  Does Obama know we are broke and have no money?  We will need to borrow the money from China, with interest charges applied.  We pretend that we are a creditor nation when we are really a debtor nation.

We need to invest this money in our own infrastructure and industry.  We are not a banker nation, we are, or should be, real producers. Private banks are lenders who loan on our good word and collateral. All money lent is our liability and their asset. Our only hope of recovery lies with our restored ability to run a real economy free from the debt trap that is the Federal Reserve.

The IMF is also moving toward taking the lead role as the global economic watchdog. An intense debate, however, remains over the scope of the edicts it may issue as well as the power it will be granted to enforce them. Some critics, however, say that may not be enough. A case in point: An internal IMF document recently called for Eastern European nations to adopt the euro as their currency to stabilize their economies, even without the approval of euro-zone nations. But stiff opposition from Western Europe has thus far prevented that document from being made public.

Others say it should steer away from country-specific rulings. Another camp argues the fund should not exist at all. Even Strauss-Kahn has sought to dispel the notion of too grand a role for the IMF, saying its primary mission should remain monitoring and surveillance rather than enforcement.

"The fund is supposed to take on a more regulatory role, holding accountable even wealthy countries," said Moshin Khan, the IMF's former Middle East and Central Asia director. "But I will have to see that happen to believe it. Whenever I've seen them going after the bigger countries, if the countries don't like what the fund has to say, the fund doesn't say it."

DrKrbyLuv comments:
Folks, a decision needs to be made and it needs to be made now. Are we willing to become a client state of elite central bankers - or, will we be a sovereign, free and self-determined constitutional Republic?

Our parents, grandparents and ancestors bought our freedom with their blood and sweat.  Are we willing to just give it away?  It's time for us to "anti-up" and make a stand.  This Saturday, April 25, will be a national day of protest to END the FED.  I will be at the Philadelphia Fed bank protesting - trying to get the message out to as many people as possible.  I hope others will participate in whatever way they can.  If you can't travel to a protest, please get together with a freind and explain the Federal Reserve to them.

We hold the power to just say no - but it will take many of us talking as one voice.  When "We the People" figure out who and what the Federal Reserve is they will join us - we just need to help them in their discovery process.

Note: Here are some resources -

  • END the FED .pdf brochure - great explanation - must read
  • Read joe2baba's fine post on the BIS (Bank of International Settlements) for a better understanding of the emerging global structure
  • Let me add one thing I do quite often - it sounds small but I think it is helping the END the FED move.

    I wear t-shirts and sweatshirts with "END the FED" printed on the front and I have several message that I include on the back.  I bought some at the END the FED online store and had some of my own made with custom graphics. I'd be glad to share my graphics for free if anyone is interested - just let me know. 

    I also keep copies of flyers that I print out - I use these two (front and back) -

    END the FED (front)

    END the FED (back)

    It is amazing how often people ask about the FED - I'm always glad to discuss it and hand out some flyers.  I never get pushy and have been pleasantly surprised by how interested many people are.

Larry

MarkM's picture
MarkM
Status: Platinum Member (Offline)
Joined: Jul 22 2008
Posts: 855
Re: A Bigger, Bolder Role Is Imagined For the IMF ** Major ...

This just in.  Discussion of formation of the MFU - Monetary Fund of the Universe.  This will backstop the IMF's backstop of the central bank's backstops with more counterfeit paper.

I'll be at the ETF in Dallas this Saturday.  I hope it is a good turnout.

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