What is the World Bank? What is its stated aim, and is that what it is really up to? In this episode of People & Power Max Keiser gives his answers to those very questions. The World Bank was formed in 1945 at the end of World War II. 185 countries are members (184 were members when this video was made), and its stated aim is poverty reduction, or even a world free of poverty. Max makes the case in this short video that the World Bank is in fact not working towards global poverty reduction, but rather a world full of poverty, and that many of the largest corporations in the world are "banking on it."The World Bank does, in fact, loan money to "developing" nations at below-market interests. However, those loans come with conditions and costs that far outweigh the benefits provided by the low interest rates. In general, one of the conditions to World Bank loans is the requirement of so-called "technical assistance," which is exceedingly overpriced and always to be provided by a "cousin" (i.e. crony) of World Bank leadership. The World Bank loans have even caused wars and dire, mass poverty, such as in the case of Liberia, whose World Bank loan went to fund a military dictatorship which led to 14 years of war and 200,000 dead, as stated by a Liberian interviewee in this video. And now that Liberia has held free elections, they still have to pay that money back which, in turn, prevents them from fulfilling basic needs such as infrastructure and assistance to the farmers of the war-torn nation. In essence, World Bank loan recipients become indentured servants.
A few more "fun facts": The World Bank's most powerful members are the U.S.A., Japan and Germany. The U.S.A. controls 16.4% of the vote and can therefore block any major resolution that it wants to. Also, the U.S. President always nominates World Bank President. Paul Wolfwitz was World Bank President 2005-2007.
Here's the video, but please do keep reading below...
People & Power - Banking on it - 09 May 07 - Part 1 (~9 min.):
Direct Link: http://www.youtube.com/watch?v=59lOjYwkB40
The current World Bank President (this information is not in the video) is Robert B. Zoellick. Prior to joining the Bank, Zoellick served as Vice Chairman, International of the Goldman Sachs Group, and Chairman of Goldman Sachs' Board of International Advisors 2006-2007. I think it is VERY important to note that Secretary of the Treasury Henry Paulson, the man who is now essentially telling the US Congress that they must give him dictatorial powers over the American economy, was formerly the Chairman and CEO of Goldman Sachs. And now, among the Wall Street investment bank giants, Goldman Sachs is now one of the two left standing. Coincidences? No way! Cronyism and Insane Dictatorial Power Grab? Absolutely.
The U.S. Congress, the beleaguered power that they are, does have the power to say "no" to this, but it looks like they actually may pass it! The proposed bill, which is so short (849 words!) anyone can read it and readily understand that constitutes financial dictatorship, is being argued for as I write now. If you do anything today to try to stop this nation's downfall, please tell your Congressmen and tell everyone you know to tell their Congressmen that this bill is UTTERLY UNACCEPTABLE. It is the equivalent of the Patriot Act for finance, and it is one of the final steps in the shredding of our Constitution.
Say NO now... it is getting very late in the game, and fast.
Here you can read the text of the LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS, along with a bit of helpful commentary:
http://www.economicpopulist.org/?q=content/text-bail-out-act-congress-take-action-now
ACT NOW!
You may ask, "Won't the economy collapse if the Congress does not take this step?" Of course it will! It's going to one way or another. The U.S. Dollar has been completely devalued already. The question is, do we make it much, much harder on ourselves by extending the imminent Depression into the far reaching future (by bailing out rich speculators), or do we deal with things as we must now, with our remaining liberties and sovereignty in tact? Here's a bit from Ron Paul about the matter:
Late Edition With Wolf Blitzer Guest Ron Paul (~7 min.):
Direct Link: http://www.youtube.com/watch?v=A2DK3gytzBk
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