Sunday , 25 February 2024

IMF’s Attempt to Use Spain’s Financial Woes to Increase Its Powers a Momentous Move – Here’s Why (+2K Views)

The International Monetary Fund wants the rules of the IMF changed so it can lend directly to banks and underwrite a rescue of the Spanish financial system without increasing Spain’s government debt. If the IMF is permitted to do so, however, the banking system’s control would pass to the IMF and such an increase in powers would be momentous. Here’s why. Words: 755

So say edited excerpts from an article* posted at Lorimer Wilson, editor of (Your Key to Making Money!), has further edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.

The article goes on to say, in part:

Once again the cry goes up to preserve the banking sector. Is this necessary? In a free-market economy such failing institutions would shut down of their own accord. That’s not the way it works in the modern world, however, and this is too bad because propping up such entities only makes the larger economic distortion worse and yet, in the modern world, financial institutions are increasingly “too big to fail.”

Central banks around the world use large commercial banks as distribution points for the money they create and this is why the powers-that-be are loath to shut them down. Of course, the money could actually be distributed directly to the citizenry but this would defeat the reality of the current monetary racket, which is to distribute money into circulation via debt. It is the banks that perform this function by “lending” and thus these banks are a very important part of the larger system….

The freewheeling Spanish cajas that used to make up to 50 percent of Spanish banks have been shut down. Only the larger, regulated banks remains standing. This is indeed the way the world works. Concentration and bigness are constantly encouraged – and the end result, when it comes to the financial sector, is a group of “too big to fail” entities that must be supported at taxpayer expense.

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One finally begins to question the coincidental evolution of this abiding enlargement. Central banks themselves contribute to it by printing an overabundance of money that causes first booms and busts. During the deleveraging part of the cycle, large companies and institutions are purchased for very little money and the centralization continues. Because the distortion has been going on for so long – a hundred years or more – economies around the world have reached a kind of saturation point. So many industries have been created that would not exist otherwise, that the world is chock full of overcapacity and unemployment. These kinds of imbalances are a direct result of monetary overprinting – and they facilitate what the power elite desires, which is ever-closer global integration.

The power elite, in our view, is driving the world toward global governance at an alarming rate and using financial crises as a tool to create momentum for this state of affairs. The Euro-crisis is part of this larger paradigm. In fact, top Eurocrats are on record as anticipating the current crisis and intending to take advantage of it to build a closer union that could then serve as a stepping-stone to something larger still.

[A recent Economist article states]:

“With three smaller European countries already receiving international bailouts, the larger economies of Spain and Italy have become the critical test of whether the euro region can revive its economy and avoid dragging down global trade and economic growth.

The IMF wants the rules of the fund changed so it can lend directly to banks – and underwrite a rescue of the Spanish financial system without increasing Spain’s government debt.”

We see again…that the powers-that-be do, in fact, use financial crises as a way of increasing control. In this case, the IMF itself is poised to receive greater powers and if the IMF can lend directly to banks, the banking system’s control passes to the IMF. This news – buried toward the end of the article – is momentous. Once again, we see that the impetus toward globalization is increasing. The IMF and its backers are determined to gain more power for global facilities.

We read as well, toward the end of the article, “The suggestion is controversial, and it would amount to asking taxpayers in more financially stable nations such as Germany to bail out private companies elsewhere in Europe.” It may be controversial but this is exactly what the elites wish to happen.

Out of chaos …order.

*  (To access the articles please copy the URL and paste it into your browser.)

Editor’s Note: The above article has been has edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

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