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Old 04-12-2006, 05:08 AM
SeC SeC is offline
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Default Global Banking: The International Monetary Fund


Global Banking: The International Monetary Fund
Volume 6, Issue 1

Introduction
The International Monetary Fund (IMF) is

a public institution, established with money provided by taxpayers around the world. This is important to remember because it does not report directly to either the citizens who finance it or those whose lives it affects. Rather, it reports to the ministries of finance and the central banks of the governments of the world.1

This authoritative statement comes from Joseph Stiglitz, who served for seven years as chairman of President Clinton's Council of Economic Advisers and as chief economist for the World Bank. Stiglitz is a mainstream globalist, but still honest enough to have become disillusioned with the corrupt practices of the IMF and the World Bank. His first-hand witness is very insightful:

International bureaucrats - the faceless symbols of the world economic order - are under attack everywhere. Formerly uneventful meetings of obscure technocrats discussing mundane subjects such as concessional loans and trade quotas have now become the scene of raging street battles and huge demonstrations... Virtually every major meeting of the International Monetary Fund, the World Bank, and the World Trade Organization is now the scene of conflict and turmoil.2

Why is the IMF an organization that people love to hate? This report will hopefully shed some light on the subject.

Continue to read:
http://www.augustreview.com/index.php?module=pagesetter&func=viewpub&tid=4&pid =10

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