By Nancy Thomson

Have you read about (or experienced) the deterioration of our infrastructure? Roads, bridges and national parks are suffering from neglect.

US taxpayers are funding hundreds of projects for friend and foe alike. Other nations are receiving our money via loans from the International Monetary Fund (the IMF) and the World Bank.

Too late these borrowing countries have discovered they are caught in a debt trap worse than any poverty that existed prior to the loan.

Perhaps if people knew more about history this loan ponzi scheme could have been avoided.

The Bretton Woods Conference in 1944 was built around the communist axiom of Marx and Lenin. They reasoned that economics is the key to society. It is the basis upon which political, legal, and all other institutions rest. Under the guise of "harmonizing "world finance and financially helping rebuild Europe following WWII, the International Monetary Fund and World Bank were established.

Instrumental in organizing the Conference was Harry Dexter White, under Secretary of the Treasury. The FBI issued a warning about this man but President Truman ignored their advice. White was a member of the Council on foreign Relations and also belonged to a communist spy ring in Washington D.C. This Conference that was hidden from the public consisted of Fabian Socialists and communists. V Frank Coe became the first Secretary of the IMF. He belonged to the same communist cell in Washington as Harry Dexter White. [1]

Considering this background shouldn't someone have sounded an alarm?

The agenda of these two international banking entities, the Fund, are formulated for one world currency, a world central bank (the Bank of International Settlements in Switzerland) and to control the economies of every country.

Capitol is to be moved form the industrial nations to the third world where the communists have greater control.

About to be dismantled in the 50's the Bank started a new agency for its own expansion, the International Bank of Reconstruction and Development. A second agency the International Development Agency (IDA) offers subsidized credit at zero interest on a 50 -year loan. [2]

Headquarters for the World Bank are 1818 H Street, N.W. in Washington D.C. Other offices are in Paris France and Tokyo Japan. [3] Is it a coincidence that these three countries make up the members of the Trilateral Commission?

The Washington staff devises projects that are of questionable benefit to the borrowers. This opens up opportunities for Western contractors and the World Bank floats international bonds to finance the scheme. Impoverished nations expect great things but the only benefits go to the bankers and multinational companies that provide the dams, roads, plants and infrastructures many of which aren't needed. Since the targeted country is third world there are no skilled workers to maintain the projects that waste away from neglect.

Of course the leaders of the "assisted" country get a 10% cut and corruption follows on down the line as local officials also take their share out of the loans.

When it is payback time the impoverished nation can't repay anything, so the lender rolls over the loan. The World Bank or the IMF then dictates the debtor's economic policies. The first rule involves devaluation of the currency in order to export more (usually to the US undercutting our products.) [4] Secondly, foreign buyers must be able to purchase their companies. The Fund monopolizes the debt collection so there is no wiggle room to recover.

Once the nation is destitute, the IMF advises the country to close its budget with a tax increase.[5]

Hooked on loans the debtor embraces socialism, and loss of private property. Africa, the world's most assisted continent, had a debt burden of 110 % of its GNP in 1991. It would take 40 years before Africa could return to the income level of the 1970's. They now owe more than the cost of the loans.

Note the countries around the globe that have taken Fund loans and are in economic turmoil. Thailand has taken 101 World Bank loans, there are economic riots in Russia, Turkey, Indonesia, South Korea, Southeast Asia, the Philippines, Argentina, Brazil, Ecuador, and countries in Africa. [6] Many nations have been on the Bank dole for decades. This banking arrangement is what allowed Britain and other European countries to provide ever- escalating socialism.

Fund loans are backed by fiat money, not gold just as in our Federal Reserve System. [7]

Private banks jump in with loan syndicates worth billions to buy up the World Bank international bonds. This isn't due to the projects but because they know US taxpayers will back the investment. As in the case of the Mexican peso bailout, the money never left New York. Taxpayers were paying back Goldman Sachs for their collapsed risky investment in Mexico. This Executive Order by Clinton that facilitated the Mexican deal sets the precedent for US taxpayers to bail out whole countries.

A new international body of law called "Programmes" has been established by various UN conferences. Any country that opposes a "Programme" will face financial blackmail by the US Department of State, and the World Bank. In the case of disobedience a country's interest will be increased and there will be no more loans. [8]

The IMF and World Bank are registered agencies of the UN just as G-7 (and G-77) countries, the World Health Organization (WHO), UN Environmental Programme, UN Devolepment Programme, UNICEF, International Labor Organization, Food and Agriculture Organization. These are some of the UN organizations that are influenced by or influence the Fund. [9]

World Bank loans are politicized in keeping with UN rights of the women and sustainable development. Environmental issues permeate Bank statements.

There is now a World Bank Water Policy that will manage the water, sea and air with women in control of all water programs. [10] This social engineering of resources has yet to be publicized.

"Help" comes from unexpected places. Despite the Women Water Project a group called "50 Years is Enough" has organized Friends of the Earth, Global Exchange, and a coalition of 203 grassroots organizations to thwart the IMF/World Bank. This coalition claims there is a lack of gender-consciousness and global economic justice on the part of the IMF/World Bank. Their newsletter" ECONOMIC JUSTICE NEWS" contains some information all anti-globalists could agree with. [11]

There are three legs to the UN triangle economic take-over, the IMF, World Bank and the WTO. The latter is about to fulfill its position of controlling all world commerce.

Where has all the money gone? Now we know.

June 18, 2001