It Is Just A Matter Of Time Before The Use Of The US Dollar As A Global Political Policy Instrument Is Over

A subject that assuredly makes eyes glace over is the International Monetary Fund (IMF), but without doubt the IMF is one of the key discussions at the G-20 meetings this week in Pittsburgh.

http://en.wikipedia.org/wiki/International_Monetary_Fund

What the IMF does is three-fold:

• Surveillance of economic and financial developments in all countries for the purpose of crisis prevention
• Temporary international trade financing to poor countries that are unable to make their counter-parties whole

• Technical assistance and research to countries that lack the resources

The overall goal of the International Monetary Fund is to strengthen the international financial system, something the US Federal Reserve Bank also purports to do. Therein is the problem.

The US, which holds just 16.77% of the votes of the IMF, would prefer that economic and financial cooperation start and end in Washington at the steps of the White House and the Fed and their close ties to Humungous Bank & Broker (HB&B). Given that the rest of the world (185 other governments) controls 83.23% of the IMF, you can see why there is a problem.

http://en.wikipedia.org/wiki/Federal_Reserve_System

Over the next few days, there will be a lot written about the G-20, but the key will be the issue of the IMF possibly gaining a leg up over the Fed… Read between the lines if you must.

http://online.wsj.com/article/SB125383640233239423.html

When you see why the IMF was created in 1944, as stated below, you must get a sense of déjà vu.

The IMF, also known as the “Fund,” was conceived at a United Nations conference convened in Bretton Woods, New Hampshire, United States, in July 1944. The 45 governments represented at that conference sought to build a framework for economic cooperation that would avoid a repetition of the vicious circle of competitive devaluations that had contributed to the Great Depression of the 1930s.

You see; what happens in the United States doesn’t always stay in the United States. Sooner or later, the world is going to do something about that. Their solution is the IMF. It is just a matter of time before the use of the US Dollar as a global political policy instrument is over.

Independent traders are looking forward to that day when the balance of Interventionist power is held by the G-20 and the IMF.

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Comment by Dr Sebastian Uremadu

2009-09-25 08:52:27

Mr Bill Cara you are always my man in views likethis. This because you propagate in positive finance and economics. The concept you are proposing should just come for good, however, with understanding from the USA.

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