The International Monetary Fund (IMF) is a pivotal international body, established in July 1944 at the Bretton Woods conference in New Hampshire. While its publicly declared aim was to foster global monetary co-operation by maintaining fixed exchange rates among currencies, its true purpose was to end the gold standard as the bedrock of international currency exchange. This would permit governments to create unlimited [[Fiat]] without incurring the usual penalties of currency devaluation.
The IMF's foundational concept mirrors that of the Federal Reserve System, envisioning a world central bank that would issue a common fiat currency, compelling all nations to inflate their money supplies in unison. It was designed to act as an international insurance fund, injecting fiat money into nations experiencing temporary financial difficulties to avert currency collapses.
The architects of this plan were John Maynard Keynes, a prominent Fabian socialist from England, and Harry Dexter White, a high-ranking US Treasury official. Notably, White was concurrently a member of the Council on Foreign Relations (CFR) and involved in a Communist espionage ring in Washington, a fact known to the White House at the time of his appointment as the IMF's first executive director for the United States. Virginia's Frank Coe, also part of the same espionage ring, became the IMF's first secretary.
This indicates that the IMF's intellectual guiding lights were Fabian socialists and communists, all aligned in their objective of international socialism. The IMF and its sister organisation, the World Bank, were conceived as conduits for transferring capital from industrialised nations to less developed ones, thereby increasing Marxist control over these regions.
The IMF operates independently of the United Nations, despite appearances. It is funded by its almost 200 member nations on a quota basis, with the greatest share of capital originating from highly industrialised countries such as Great Britain, Japan, France, and Germany. The United States contributes the largest portion, approximately 20% of the total. Its routine operation involves exchanging worthless currencies for US dollars, enabling weaker nations to settle international debts. These transactions are rarely repaid, with the IMF effectively functioning as an international deposit insurance scheme, providing funds to insolvent nations to prevent currency devaluation.
Historically, the IMF initially used gold to back its money supply as a temporary measure to gain national participation. However, the long-term goal was to transition to a managed world currency, freeing governments from the discipline of gold. The US dollar, redeemable in gold at $35 per ounce, became the de facto international currency. In 1970, the IMF introduced the Special Drawing Right (SDR), a new monetary unit described as "paper gold," but which is, in reality, a form of bookkeeping wizardry with no intrinsic value. SDRs are based on credits, which are merely promises from member governments to tax their citizens if necessary to generate funds.
The IMF regards these credits as assets, using them as reserves to extend loans to other governments by creating checking accounts out of thin air in commercial or central banks of member nations. This process induces inflation in the currency's country of origin, discreetly transferring wealth from the general public to the debtor nation, without expectation of repayment. The creation of SDRs marked the beginning of Keynes's vision for a world central bank issuing a reserve currency, free from gold's constraints.
A significant hurdle was the dollar's link to gold, which limited the amount of international money that could be created. To overcome this, the dollar needed to be detached from its gold backing. This occurred on 15 August 1971, when President Nixon signed an executive order ending the dollar's redeemability for gold. While the IMF still relies on member nations' central banks for cash and credits, these banks can now create unlimited amounts of money, effectively removing any ceiling on global currency creation. Despite its initial mandate to maintain fixed exchange rates, the IMF has presided over more than 200 currency devaluations. Its new objective is to "overcome trade deficits," providing loans to countries to perpetuate spending beyond their earnings. These loans rarely support private enterprises but instead flow into state-owned and state-operated industries, which are often inefficient and corrupt, making repayment improbable. Consequently, the IMF must repeatedly draw upon its reserves, assets, and credits, ultimately burdening taxpayers in contributing nations.
The IMF is undeniably a key instrument for building world socialism. While its policy statements often address economic matters, its operations clearly prioritise social and political change. It facilitates this change through "sectoral loans" and "structural adjustment loans," which primarily fund policy changes rather than specific development projects. These changes invariably lead to government expansion, supporting state-controlled hydroelectric projects, oil refineries, lumber mills, mining companies, and steel plants. Often, a condition for receiving an IMF loan is that the recipient country must suppress wages, tacitly affirming the government's right to control wages. It focuses on macro policies, largely overlooking fundamental principles like private property rights and free enterprise. This approach has allowed governments globally to more efficiently confiscate their citizens' wealth through hidden inflation taxes while simultaneously augmenting their own power.
Crucially, the money provided through structural adjustment loans does not need to be allocated to any specific development project; it can be used for anything the recipient desires, including servicing interest payments on overdue bank loans. Thus, the IMF acts as a conduit, transferring funds from taxpayers to commercial banks that have extended risky loans to third-world countries. The "austerity measures" frequently associated with IMF conditions are often mere rhetoric, with borrowing nations largely ignoring them while the IMF continues to provide funding. These conditions primarily serve as a convenient scapegoat for local politicians to blame "big bad capitalists" for their nation's economic woes.
In essence, the IMF is an engine of socialist waste, providing abundant resources to corrupt leaders. Numerous regimes known for human rights abuses, such as those in Zimbabwe, Ethiopia, Vietnam, Laos, Syria, Indonesia, and Nicaragua, have received billions in funding despite their repressive policies and economic failures. While IMF managers claim their charter prohibits them from considering political distinctions, the institution's commitment to socialism is clear, viewing brutalities as unfortunate necessities for achieving their utopian vision. The ultimate goal is the merger of all nations into a global government under the guise of "assistance" and "peacekeeping forces". This process entails a deliberate drain of wealth from industrialised nations, lowering their living standards and diminishing their independence.
The Council on Foreign Relations (CFR) is the intellectual force behind this Fabian plan in America, with its members occupying leading positions in government, banking, academia, and media. CFR founders openly advocated for "levelling off the sovereignty system" to the detriment of powerful nations and establishing a common currency. The IMF, in conjunction with the Federal Reserve System, functions as a global central bank, deliberately exhausting the American economy through foreign aid and domestic boondoggles. The purpose is to create an economic crisis that will compel Americans to accept a "rescue" by the World Bank and the adoption of a global currency. This strategy is aimed at ultimately integrating the United States into a world government, where it would be significantly weakened.
Recent activities reflect this overarching strategy. For instance, in 1982, the Federal Reserve negotiated a $4.5 billion IMF loan for Mexico, with significant contributions from the Fed itself. The IMF has been central to various "debt swaps" and "currency swaps" designed to prop up failing economies and ensure that banks receive payments, ultimately at the expense of American taxpayers. It has also played a crucial role in bringing China and former Soviet bloc countries into the global government framework, transferring funds from industrialised nations to deliberately weaken them and gain political control over recipient leaders. The "demise of communism" is widely viewed as a staged deception, a deliberate manoeuvre to facilitate financial transfers through organisations like the IMF. These continued transfusions of billions to former Soviet states, even when interest payments are not met, underscore a "higher loyalty" among leaders, who are orchestrating this conspiracy towards world government. The IMF is considered a key "weapon of control" for world government, possessing more influence than military force.