Saturday, October 02, 2004

G24 Want More Influence in IMF

It seems the G24 are getting vocal about their lack of influence in the IMF.

It's ironic in a way - It's so common to hear Americans bleating about how they bankroll the world (I think a lot of people assume the money they dole out to Israel is matched with donations to other countries - it isn't, far from it), the truth is that the world bankrolls the US by investing in it and letting them maintain a huge deficit. What would happen should China and Saudi Arabia pull their money out of the US I wonder?

Fact is, the current IMF/World Bank set-up was engineered to suit the US's requirements -
If you haven't read about the Bretton Woods agreements prepare to be apalled :
wikipedia
google

And, if you would like to hear about alternative, fair ways of running the world and it's finances,
check out George Monbiot's books, particularly Age of Consent.


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