World Bank and IMF Dupe the Third World.
Listen to what one Economics Veteran says....the American Dollar is a Time Bomb for Third World.
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From: "Jerry Lobdill"
To: "money-ethics list"
Date: Sat, 6 Oct 2001 09:41:04 -0500
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Subject: [money-ethics] DEFENDING NATIONAL ECONOMIC SOVEREIGNTY
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Hi all,
The following interesting article showed up in my email this AM. It seems to
me that there is a growing understanding of the scam the banksters are
running. Maybe we are closer to a collapse of the fractional reserve system
than I thought. When there is general widespread knowledge of the rules of
the lending game the jig is nearly up.
Best,
Jerry
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DEFENDING NATIONAL ECONOMIC SOVEREIGNTY
The following is from the September 2001 issue of PROSPERITY: Freedom from
Debt Slavery, a 4 page monthly, dedicated to the proposition that the State
should create a supply of debt-free money which should be spent, not lent,
into the economy. Subscriptions are £12.50 payable to PROSPERITY, at 268
Bath Street, Glasgow, Scotland, G2 4JR. Tel: 0141 332 2214; Fax: 0141 353
6900; admcc@admcc.freeserve.co.uk www.ProsperityUK.com
Please feel free to circulate and post this material on the internet and
please include these contact details. Thanks.
----------------------------
In 1998 James Gibb Stuart was asked to provide advice to the Malaysian
government, which was then struggling against an IMF induced economic
crisis. The following is taken from his Briefing Paper. Three days after
receiving this material the Malaysian government announced exchange
controls.
DEFENDING NATIONAL ECONOMIC SOVEREIGNTY
Prosperity, September 2001, James Gibb Stuart writes:
It has been suggested that I might make some comment on the current
financial crisis which would be helpful to our Muslim friends in Malaysia
and elsewhere.
Let us begin by noting that this is not a failure of Asia and its systems,
but a reflection upon the creed of deregulated so-called "free market"
[monopoly] finance capitalism which too many Asian nations have embraced.
Those who embraced it least are least affected. Those who accepted it
without question are now faced with several years of reduced expectations,
deprivation and ruin.
Why? Not necessarily because of their own faults and excesses, which could
be many, but because the banking and financial model they so
enthusiastically adopted is itself basically flawed, and possessed of a
fatal instability.
It was not as altruists or benefactors that Western bankers ventured into
Eastern markets, but as fugitives from a milieu which had reached the limit
of its tolerance.
The deregulated "free market" finance capitalist system which prevails among
the developed nations is based upon an ever increasing burden of debt, and
when the societies within which it is practised approach their saturation
point, it must find new outlets for its ever-increasing outflows.
The Western institutional lender has a much greater compulsion to lend than
his prospective client has to borrow.
But now the lending has to stop. Eastern nations should be looking inward
towards their own indigenous strengths and resources, rather than importing
capital from abroad.
Once this fact is appreciated, some acts of self-preservation must follow:
FIVE ACTS OF ECONOMIC SELF-PRESERVATION
First comes a measure of foreign exchange control, to prevent the nation's
reserves, its financial lifeblood, from being sucked out by speculators.
Secondly, the progressive liberalisation of financial markets should be
reversed, as this advance towards a global economy can rob developing
peoples of the benefits of their own national resources.
For the same reason, and thirdly, there should be no inclination to
privatise national assets as a device for paying off government debt.
Such assets belong to the people, and should not be put up for auction,
where market forces can consign them to foreign ownership.
British experience of privatisation proves that selling assets to reduce
national debt is only a temporary expedient. They can only be sold off once,
and when they are gone, the cycle of debt and borrowing continues.
In the matter of existing loans that have gone sour, it is impossible to
generalise. Each situation must be dealt with on its merits, and acrimony
and trade reprisals avoided.
But, fourthly, there should be every endeavour to avoid further borrowing,
particularly in US dollars [Federal Reserve Notes].
The recent round of currency devaluations has shown this to be a treacherous
device whereby international entrepreneurs [parasites is more accurate] can
buy up the local economy at bargain prices.
At this stage a clear appreciation is needed of what constitutes money,
wealth and resources. Even without the lure of foreign financial inflows, we
must ask, to what extent is the nation impoverished?
The sun still shines. The crops still ripen. The eager workman's hands and
skills and energies are in no way diminished - provided he can have faith in
his Government to protect his earnings and ensure an adequate reward for
himself and his family.
Even in conditions of economic crisis, the primary priority is not to pay
the bankers or reassure the stock markets, but rather to see that the people
are properly fed and housed.
A child dying of malnutrition in the midst of plenty is a crime against
humanity and a blight on the bounty of Mother Nature.
That is why IMF 'bail-outs' which hinge upon further foreign borrowing,
liberalisation of markets and cutbacks in social expenditure, should be
rejected in utter abhorrence.
Fortunately, support for this viewpoint is finally coming through from
Western sources, where the more independent-minded economists are now
contending that the IMF and its harsh methodology should be drastically
revised or abolished.
We spoke about debt-inflicted Eastern nations turning back upon themselves,
looking inward at their own basic strengths and resources.
In this regard, and fifthly, money incentives to stimulate commerce,
agriculture, industry and social programmes, need NOT be in the form of
expensive US dollars.
All recognised, legitimate governments can on occasions create their own
debt-free money and use it for essential national objectives.
Despite banking protestations, this expenditure is not inflationary, since
it does not increase the volume of debt - and it is debt, not the supply of
money, which causes inflationary pressures.
These five acts: Stopping the haemorrhage of national reserves by means of
exchange controls; reversing the liberalisation of financial markets;
rejecting the privatisation of public assets; avoiding foreign loans or
further borrowing; and steadfastly maintaining social programmes, with
government created debt-free money if necessary - all in the face of IMF
outrage - will cause the charismatic leader to be smeared and ridiculed
abroad.
So, lastly, he must look to his personal and governmental security, avoiding
risk of physical or political assassination; losing no opportunity to tell
the public what he's doing and why he's doing it; laying it continually on
the line that the current financial crisis is not his crisis, or their
crisis, but a crisis of Western economics which will ultimately devour the
whole of civilisation if it is not resisted and amended.
Further reading: "East Beats West: Justin Marozzi on how Mahathir Mohammed
rescued his country and made fools of the IMF", The Spectator, 18 March
2000.
"Dr Mahathir has struck his own blow against the denizens of the Twin Towers
without taking a single US life." James Gibb Stuart, The Herald (Glasgow),
24 September 2001.
[Unfortunately, the "denizens" of the Twin Towers were not the transnational
banksters, lawyers and politicians who actually profit from the attack, but
well-intentioned citizens just doing their job.]
To: money-ethics@uwsa.com
Subject: Re: [money-ethics] DEFENDING NATIONAL ECONOMIC SOVEREIGNTY
Reply: October 11, 2001
Jerry -
This is terrrrrrrrrriffic.
I am convinced the Anti-American feelings in
the 3rd World are due to the Debt-based Monetary
System, we have induced, and which we have conned
ignorant 3rd World governments, like Russia, into accepting.
Frontline is on tonight on PBS here in Reno. It has a Program
Called, "ANSWERS........." It's on at 9:pm here.
Read between the lines!!!!
I saw it last Monday and it shows the Prince of Saudi Arabia,
who is the Foreign Minister, or somewhat. He states that they
are in debt to the USA to the tune of $450 billions.
Can you imagine, that with all their Oil wealth, they are working
for the Banksters, too.
The troubles that started back in the Fifties, when the 3rd World
called us, "Ugly Americans," started arising when the IMF and
the World Bank (WB) "helped" these countries go onto
foreign currency exchange programs. Soon they were on
the "Debt System" too. China is too smart to follow.
They invented paper money.
Soon, the 3rd World Countries were in debt, up to their ass,
with the Banksters syphoning out the money that should be
going to their peoples' welfare---infrastructure, education,
medical facilities, etc.---as interest on their debts.
Now, they are in debt, up to their eyebrows, and the Muslim
people, who are against usury, are getting wise to us.
I put the article on <www.calneva.com/voxpop> It's titled,
"IMF & World Bank makes enemies for US"
I really believe that the IMF & WB don't try to "help" any
country that has no resources--oil, labor, or raw materials--
that we want; ie. Afghanistan after the Russian conflict.
If the Banksters can't get them to borrow, or they have no
resources we want, our government does a "walk-away."
That's why we are in this world mess. When our consumers
quit using credit cards, our failure to purchase 3rd World
goods puts us, all, into the tank. Mexico is in real trouble,
as many maquilladoras are closing. The US corporations are
moving the plants to China for "cheaper wages."
The people holding Treasuries are doubling their investment
values, while everyone-else's tanks. The State of Nevada's
T-Bill Portfolio Values went from $1.2 Billion to $4 Billion in
two weeks. Just imagine what the Power Elite are gaining
from this "NEW WAR."
Money Talks.
Bob$$$
*******************
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