Most people have no idea that the International Monetary Fund and the World Bank do make Jesse and Frank James look like boy scouts. Set up in the closing years of the Second World War, these two “sister” financial organizations were essentially established to be the organizational pillars of the new financial order following WWII. The World Bank was set up to provide loans for war-torn Europe and the International Monetary Fund was to keep a balance between international currency transactions.
Over the years, these organizations transformed into what have become nothing less than global predators. While, in recent years, their stated purpose has been to eliminate poverty and help third world countries, when you look at the results of their activities – not their PR statements – their product is basically countries in debt.
That is what they produce: indebted countries. This is difficult for some people to confront. But in fact these two organizations have become tools of an international financial elite and have insured that third world countries or emerging economies stay in debt. What is most disconcerting is the terms of these loans which give these financial institutions very specific controls over social, economic and political policies.