As I was proof reading my last piece on how the IMF operate, I got to the sentence which refers to 188 member countries who contribute to a central fund. http://www.globalmagnacarta.org/?p=766&preview=true. It was then that the penny dropped with a deafening KERPLUNK!!
The IMF is taking ‘subscriptions’ of taxpayer’s money, via the governments of its 188 members and then lending it back at exorbitant rates of interest, whilst further insisting on ‘Austerity’ measures as well.
So, they are taking our money, for which they are paying us nothing and giving it back to us at compound interest, on condition that they also take our public services and utilities at discount prices, for the privilege of lending us back our own money . . . that’s lunacy!!
It’s fair enough to take money into a central pool, to pay out to contributing members when they are in hard times. A motor insurer, however, would not ‘lend’ us the money, at usury rates of compound interest, when we make a claim and then also demand our cooker, fridge and TV at half their market value as a part of the deal!
To add further insult to injury, this money lending (it is not, by the wildest stretches of the imagination, traditional banking practice) demands that the people whose money they are using, have to reduce their living standards to pay usury interest on the debt they have incurred.
All indebtedness brings with it obligation. Obligation to act responsibly and repay the money within the terms of that loan. When those terms demand the ability and authority to walk into any country and ignore sovereign government and the democratic process, that power has become too great.
This is precisely what has happened in Greece, where shoddy money lending opened the door for global corporations to walk in and buy up whatever sovereign assets take their fancy, at prices acceptable only to them.
Most sinister here is the purchase of public utilities, particularly water, in the full knowledge that global water supplies are now coming under threat and demand will grow. Prices will rise, as well as profits, whilst the poor will die from thirst because they are unable to afford the most basic of life giving resources, which our beautiful Planet provides free gratis!
These practices are not purely commercial either. They represent a power grab of monumental proportions that now quite openly mocks global democracy and the actions of a responsible Society.
It is taxpayer money that funds the IMF and when there isn’t enough in the kitty, as was the case in 2008, they simply take more taxpayer money, which isn’t theirs, to fund the ‘bail out’ of their bankrupt banks.
And when this still isn’t enough to remedy the ongoing disasters of gambling, modern banking practice, they resort to printing their own money ‘out of thin air’ (QE) to prop up their (still) bankrupt banks.
This may sound like a reprieve for the taxpayer but the widening gap between the rich and poor is evidence to further abuse and power play, as already abused taxpayers are deliberately omitted from any benefits this new supply could provide.
And it’s not only the IMF that is funded by taxpayers. The EU was also brought into being with taxpayer money . . . Where else did it come from?
This bureaucratic ‘rice pudding’ is maintained by taxpayer money, of which the largest chunk pays the inflated salaries and expense accounts of an army of bureaucrats who inflict endless and pointless laws upon how we must live our lives.
The business world has been complaining for years now about how restrictive EU red tape has become and like us, (most of them) are funding it with their taxes. If we delve through the many layers we come to realise that taxpayer money is the primary source of all finance across the Planet.
‘W(eds) T(hurs) F(ri)’ has happened to allow this power to escalate in such a fashion? In fairness, it is the global ‘presstitutes’ who have applied political and corporate propaganda to keep our attention diverted from what is going on and we must become more aware of this!
It is time to wake up and smell the coffee! If taxpayer money is the ‘Global Bank’ and all the evidence seems to make that case then, as ‘Global Bankers’, those same taxpayers should be involved in the decision making, as well as benefitting from the profits. After all it is our money that is taking the risk and currently we just take the (gigantic) losses. In this manner, that money is being used to repress us.
In the case of the EU, billions have been wasted on an over bloated and increasingly unaccountable bureaucracy that works steadily to remove the funders – the taxpayers – from the decision making process.
In the case of the IMF, it is obligated to high employment and sustaining economic growth as defined in its Articles of Agreement https://www.imf.org/external/pubs/ft/aa/pdf/aa.pdf. It has not only failed abysmally to accomplish this but instead has amassed vast power, from debt, with which to trample over our lives with no apparent comeback.
This is feudal tyranny, without the need for armed backup, as both organisations abuse us with our own money. It is time to take back our power, because always remember – it is us who have given away our power, NOT them who have taken it.
The internet is also arming, without arms, the 99% but with the most powerful tool known to our species. That of information and knowledge and this will be shown to have given us the edge, as the more powerful weapon, in the long run.
The abuse of the 99% over the centuries has come from secrecy, which breeds ignorance and from that ignorance control is achieved. The only way to fight this, in my opinion, is by raising global awareness (something the internet is specifically designed for). With this raised awareness will come understanding that will bring about the changes we are now increasingly demanding.
Patience and perseverance, I am convinced, will bring change my friends.
Until the next time.
Thinking from his Book: Global Magna Carta. Returning Power to the 99% . . . If They Want It! By J T Coombes