These are just a few of the headlines appearing recently in the newspapers. What most people don't know is that their money is financing the World Bank and the International Monetary Fund (IMF) which is under writing socialism/communism throughout the globe.

The World Bank and the IMF are perfect examples of the Communist axiom of Marx and Lenin who believed that economics is the key to society. Economics furnishes the basis upon which legal, political and all other institutions rest. If the world was to be communized then the global economic foundations would be the first building block.

This is why the UN Bretton Woods Monetary Conference was held in 1944 in New Hampshire. Under the guise of harmonizing "world finance" the IMF and the world Bank were formed at this meeting.

Instrumental in organizing the conference, Harry Dexter White also presided as secretary of the group. White was appointed Assistant Secretary of the Treasury by Truman despite warnings from the FBI. While serving in the Treasury, White was simultaneously in the Council on Foreign Relations (CFR) and a member of a communist spy ring in Washington. This was a conference hidden from public view made up of Fabian Socialists and Communists harmonizing on one goal-international socialism.

V Frank Coe, who belonged to the same communist cell as Harry Dexter White, became the first Secretary of the IMF.

The agenda was to create one world currency, a world central bank, and a method to control the economies of every country. This meant that the US would have to reduce its dominance and become part of the collective whole. Thus the World Bank would become a facilitator for moving capitol from the US and other western nations to Third World countries where the communists exercised greater control.

Supposedly formed to help rebuild Europe and Japan following WWII the IMF and World Bank built up industries in these countries which competed with our businesses at home.

These institutions have provided funds for corrupt regimes, bad investments on unwarranted projects, and forced restructuring of the debtor country’s economic base while their conditions worsened. For instance, in Karnataka India, the Bank put $330,000 into building power generators to provide electricity. India was supposed to raise electricity rates to keep the power plants running, but they refused to do so. Today the power plant stands there unfinished. World bank loans have been made to Non-governmental Organizations (NGO's) such as Planned Parenthood. and the World Wildlife Fund. In Gaza the World Bank by passed Palestinian authority to lend $18,000,000 to a charitable coalition. World Bank money also finds its way into such UN organizations as UNICEF, US AID, and WHO (World Health Organization)

The IMF shores up currency of countries through loans and other aid despite the insolvency of the situation ( shades of Indonesia and

Mexico) When borrowing countries remit on loans the world Bank turns over the loan and extends even more credit increasing the lender's control until the borrower is at the complete mercy of the lender.

Corruption is no longer a joke in this banking redistribution of wealth. It is drowning the system. James Wolfensohn, president of the World Bank, wants to "turn things around." Others question the Banks reason for existence.

Nations in the world which are most corrupt at the present time are Nigeria, Bolivia, Columbia, Pakistan, Russia, Mexico and Thailand. Nigeria diverted $12.2 billion to an account for which there are no records. To discourage similar occurrences the Organization for Economic Cooperation and Development, OCED, (a Bank subsidiary) recommended that its members make it illegal for their buisness people to pay bribes to foreign officials. However, half of the OCED nations allow buisness people to deduct the cost of bribes from their tax returns.

The OCED Bank puts it's failure rate at 33% and Mr. Wolfensohn wants to cut the fraud to 25% at the cost of $200,000,000 over the next two years. This means only one quarter of the loans will be white elephants! What an improvement!

To further battle corruption, and improve "governance" the World Bank and IMF have issued new guide lines which are fraught with contradictions. Kenya is the only country which has been punished for its transgressions of bribery, while the corruption in countries like Mexico are ignored.

Field workers admit they don't know what to do with the guidelines offered by the IMF. No international official wants to devalue the currency or destabilize any developing countries' currencies which would occur as a result of any disciplinary action. Let George Soros do that.

President Bush authorized Most Favored Nation status, MFN, for China, who got World Bank Loans of $10 billion at low-interest, 40% of it interest free. Bush proposed a special relationship for Russia with the World Bank and the IMF. The Bank granted $12 billion in cheap loans to Russia.

There is a hook on all these international loans. Often the Third World countries default on their payments in which case the Bank rolls over the original loan and sets up more borrowing. Countries caught in this continual debt mode are required to adjust their social and economic institutions to the demands of the lender. This often ends in the debtor nation embracing socialism and loss of private property.

One of the Central American countries has been asked by the Bank to trade their debt for some prime mining land within their borders. This bargaining land for money owed could set a trend for the future.

The World Bank and the IMF have put most developing countries into financial bondage through their deceitful "get rich quick loans." Thailand has over 101 World Bank loans which are completely unmanageable for a nation their size. They can no longer afford to build infrastructure, hospitals and schools, nor compensate farmers for land taken for development projects.

A concept of "Programmes of Action" emanating from various UN conferences has resulted in forming a vast body of international law. Any nation opposing these "Programmes" are threatened with financial blackmail by the US Department of State and the World Bank. Interest rates on their World Bank loans will be increased and there will be no more loans if the country refuses to obey the "Programmes."

All these UN machinations are being brought up to date by declarations of IMF adherence to social goals and environmental impacts. The multinational companies working in conjunction with the Banks must play a part in social goals and sustainable development. Resources must flow from the rich to the poor. Guess where that leaves us.

The IMF and the World Bank are scheduled to become the Federal Reserve system for the world. Planners at the Bretton Woods Conference have carefully laid the economic ground work which culminates in the design to combine one world finance and power.

A slogan for this call to reorganization is, "From One Earth to One World." Our export and domestic markets are being taken away. American financial affairs are so entwined with other nations that we no longer have independent policies. We have become a link in the global One World socialist chain.

Nancy Thomson 11/4/98
PO box 3133
Orange, Ca. 92856-3133