Anyone with an understanding of the IMF knows it leaves countries worse off after it leaves than before it came. This week Christine Lagarde is in the US looking to raise a further $500 billion to pump into Europe. James Corbett explains it little further above it previous adventures and how it deliberatly destroys a country so it can be raped.
In the 1990s the IMF put “stipulations” on their loan package for Brazil that required amendments to the country’s constitution, and then lobbied extensively for those changes. Between the start of IMF involvement in Peru in 1978 and the second round of loans in the 1990s, the appropriately acronymed SAP (structural adjustment program) managed to quadruple illegal coca production by devastating local farmers and leaving them to choose between growing coca or starving. They chose coca.
There are countless other disasters. And countless swindles. Billions of dollars in IMF loans to Russia in the 1990s were diverted straight into the Swiss bank accounts of oligarchs and gangsters. One $4.8 billion dollar loan program administered by the fund in 1998 went in one door of the Russian central bank and straight out the other. The people never saw a ruble of it and were left with unemployment rates, stock market losses and currency devaluation that rivaled the Great Depression.
The fallout from these operations is invariably the same. The people figure out that they’ve been footed with the bill for someone else’s party and the riots begin. We’ve been witnessing this in Europe since the Euro crisis began and it’s flaring up again. This week a 77 year old Greek pensioner shot himself in the head outside parliament because, he said, he didn’t want to have to start picking through trash in order to feed himself. The IMF issued a statement Thursday that it was “deeply saddened” by the incident, but the people of Athens have taken to the streets yet again, with thousands flocking to the site of his death and many scuffling with police.
How the IMF causes riots to use as a tactic on behalf of private corporations to rape countries assests.
These types of protests aren’t merely predictable, they’re part of the plan. The IMF and World Bank documents that leaked out in 2001 detailed the four step plan for looting a country, including the “IMF riot” stage. People take to the streets to protest the austerity measures that are tied to the IMF loans, causing foreign capital to flee, governments to go bankrupt, and foreign speculators to pick up the pieces at fire sale prices. The riots happened in Indonesia in 1998. And Bolivia in 2000. And Ecuador and Argentina in 2001. What’s happening in Europe is not an exact analogue, and it’s aimed at centralizing power in the EU in Brussels and the ECB in Frankfurt, but that the IMF has seen the crisis as an excuse to get its foot in Europe’s door as a lender is particularly telling.
Bribed politicians do very well out of the collapse of their countries.
This is how the game is played and that’s why the politicians for the most part are happy to go along with it. After they serve their term in the cockpit, they jump out with a golden parachute and leave the people to crash in the flaming debt bubble the politicians have created. This is why Lagarde is likely to get her $500 billion, or something approximating it, including an extra $63 billion that the US is slated to start paying under a new quota agreement. And the band plays on.