US Dollar begins steady collapse; IMF employee shot

ashoka mody

With all of the talk of a collapsing US dollar and the discussions from previously US dollar dependent countries of replacing the reserve currency with another one, perhaps the euro, it makes one wonder whether or not a shooting of this kind was related to his position at the international monetary fund — an organization which sets international agendas for countries — or if it was just a random shooting. Indeed, how often are prominent economic and political people shot out of the blue?

The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development.[2] It also offers highly leveraged loans mainly to poorer countries. Its headquarters are located in Washington, D.C., United States.

Perhaps karma, or bad karma, is finally starting to come home to roost with some of these organizations responsible for indebting developing countries with easy credit and the effect of liberalizing — commercializing — their essential services? All of these ideas remain theories, but police are still baffled by the shooting.

Two criticisms from economists have been that financial aid is always bound to so-called “Conditionalities”, including Structural Adjustment Programs (SAP). It is claimed that conditionalities (economic performance targets established as a precondition for IMF loans) retard social stability and hence inhibit the stated goals of the IMF, while Structural Adjustment Programs lead to an increase in poverty in recipient countries.

Police are still looking for clues after a prominent economist was shot in the garage of his upscale home.

Ashoka Mody has been identified in an email to his fellow employees at the International Monetary Fund as the man shot Thursday night around 7:30 in his Bethesda garage in the 6800 block of Millwood Road.

Mody is currently the assistant director in the European department and an expert in economic development and international finance.

He is also known in his Kenwood Park community as a good neighbor, and those who live near him are stunned that he would be the target of a gunman.

Police say the 54-year-old remains in critical condition after he was shot in his garage Thursday night, before he even had a chance to get out of his vehicle.

“We are shocked and saddened by the appalling attack on our colleague Ashoka Mody. We are all hoping that Ashoka makes a swift recovery, and we extend our heartfelt sympathy and best wishes to his wife and sons at this difficult time. Ashoka is well known at the Fund as one of its most esteemed economists, an experienced and dedicated colleague, and a valued member of the Fund family. We have no further comment at this time.”

On Friday, there was an outpouring of support for Mody and his family coming from the community. Just moments after one of Mody’s sons returned from college, a member of the Walt Whitman High School student government dropped off a card.

Investigators were back at the scene of the crime on Friday. Residents in the area say they are feeling very uneasy knowing a gunman is on the loose.

You can read the full story at

U.N. calls for replacement of U.S. dollar
Joins Russia, China and G20 with demands IMF step forward
Posted: September 14, 2009
1:26 pm Eastern

© 2009 WorldNetDaily

Editor’s Note: The following report is excerpted from Jerome Corsi’s Red Alert, the premium online newsletter published by the current No. 1 best-selling author, WND staff writer and columnist. Subscriptions are $99 a year or $9.95 per month for credit card users. Annual subscribers will receive a free autographed copy of “The Late Great USA,” a book about the careful deceptions of a powerful elite who want to undermine our nation’s sovereignty.

World organizations, including the United Nations, are openly calling for the creation of a one-world currency to replace the dollar – and the Obama administration’s trillion-dollar deficits are serving as a trigger for the currency switch, Jerome Corsi’s Red Alert reports.

A United Nations report recommended that a new one-world currency should be created to replace the dollar as the standard for foreign-exchange holdings in international trade.

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