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Secret Plan For IMF World
Dictatorship Webster Tarpley, Nov 12, 2008 This is a
confidential strategy paper for the November 15 G-20 summit in Washington DC.
This is not a new Bretton Woods in any sense, but rather a British-steered
attempt to impose the dictatorship of the International Monetary Fund (IMF)
on the entire planet, wiping out all hope of economic recovery, the
modernization of the developing countries, and national sovereignty at the
same time. Under this
plan, the IMF would dictate the economic policies of all states. The IMF
orthodoxy is austerity, sacrifice, deregulation, privatization, union
busting, wage reductions, free trade, the race to the bottom, and
prohibitions on advanced technologies. These policies would strangle
humanity. The
Brazil-Russia-India-China bloc is reportedly objecting to putting so much
power into the hands of the IMF, which is dominated by the US and the
British, with Prime Minister Gordon Brown and Treasury Secretary Paulson of
Goldman Sachs laying down the party line. The new
Chinese economic measures are the opposite of the bankers’ bailouts imposed
so far in the wealthier countries. The Chinese will spend $585 billion on
infrastructure, transportation, housing, and food production, with special
attention to railroads, airports, and roads. The Chinese package is in the
spirit of the Franklin D. Roosevelt New Deal, and it will maintain forward
progress for China. The US $700 billion bailout and the UK and EU versions
are a futile attempt to prop up the $1.5 quadrillion derivatives bubble.
Sensible economic policy starts with wiping out the derivatives cancer. The interest of humanity can only be served by preventing the
Washington conference from carrying out the plan outlined below. If Russia,
China, and the developing countries can mount an effective opposition, the
world will divide into two blocs - a pro-derivatives, anti-production
Malthusian-monetarist bloc, which will tend to fall behind because of its own
policies; and, on the other hand, an anti-derivatives, pro-production bloc of
nations seeking modern technology, and the full fruits of scienitific and
economic progress. Persons of good will in all nations are encouraged to
mobilize to make sure that their own country joins the pro-production,
anti-derivatives bloc. 1) require
the credit rating agencies to be registered and monitored and submit to rules
of governance; 2) halt the
principle of a convergence of accounting standards and re-examine the
application of the fair market value rule in the financial field, so as to
improve its coherence with the rules of prudence and conservatism; 3) to resolve
that no market segment, territory, or financial institution shall escape from
a proportionate and adequate regulation, or at the least, surveillance; 4) set up a
code of conduct to avoid excessive risk-taking in the financial industry,
including in the area of compensation. Supervisors will have to follow this
code in evaluating the risk profiles of financial institutions; 5) to entrust
to the IMF the primary responsibility, along with the FSF (Financial
Stability Forum - Basel), to recommend the necessary measures to restore
confidence and stability. The IMF must
be equipped with the essential resources and suitable instruments to support
countries in difficulty, and to exert its role of macroeconomic surveillance
to the fullest. |