The president of the World Bank has warned that the world is “one shock away from a full-blown crisis”. Robert Zoellick cited rising food prices as the main threat to poor nations who risk “losing a generation”
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He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.
Meanwhile, G20 finance chiefs, who also met in Washington, pledged financial support to help new governments in the Middle East and North Africa.
Mr Zoellick said such support was vital.
“The crisis in the Middle East and North Africa underscores how we need to put the conclusions from our latest world development report into practice. The report highlighted the importance of citizen security, justice and jobs,” he said.
He also called for the World Bank to act quickly to support reforms in the region.
“Waiting for the situation to stabilise will mean lost opportunities. In revolutionary moments the status quo is not a winning hand.”
Food price changes Q1 2010 to Q1 2011
|Source: World Bank Development Prospects (1) Group|
The World Bank is essentially an arm of the US treasury department. It is a key foot soldier in US economic Imperialist goals and creating conditions of national debt slavery. While not the walking disaster his predecessor was, Paul Wolfowitz, Mr. Zoellick as a Goldman Sachs apparatchik puts himself grand central among those who created the greatest financial meltdown the world has ever seen in 2008.
The elite have the money to speculate. They speculated on commodities, oil and gold and now they’re speculating on stocks and foreign exchange. This is how the price of oil went high up and then dropped almost overnight. Same thing happened with commodities and gold. Now they’re doing it with the stock market and the swings on foreign exchange. Did they plan this economic crisis to enrich themselves? We don’t know if they actually sat down and planned it, but are we so naive to think that they didn’t know about the financial situation of the major banks? You think that they didn’t know that lending money the way banks were doing it sooner or later the system was gonna crash? Economists were predicting the financial crash two years ago. The market ain’t guided by an invisible hand as they want us to believe.
When the USD is no longer the reserve currency (within 2 to 3 years) they will lament their chances of having made changes; rather then have change thrust upon them. We also wonder how great America could have been, if the money spent fighting 2 wars was put to the use of finding that Great Society (Kennedy/LBJ foresaw) that could have been; if not for the fact that multinational corporations (‘disguised’ as American companies) hijacked their democracy.
The reason the USA dollar and others were pegged to gold or sterling for eg was to prevent irresponsible politicians and central bankers from printing money which skyrockets a county’s debt, causes inflation, and ultimately destroys the currencies to boot. The USA is the world’s biggest offender of this as they have, at present anyway, the reserve currency. They are heading for a wall of stone and even if they taxed their system 100% they still could not pay off their debts! If we returned to the gold standard for eg a country could not inflate its money supply unless it had the equivalent value in precious metal. Obama, Geithnr, and Bernake should be tried for sedition as they are destroying their country. The day of reckoning is just around the corner.
The IMF, Word Bank elite are telling us what they’re going to do
Why does the IMF and other government or NGO’s believe that people are buying their propaganda after the unholy trio, the IMF, WTO, and World Bank gave loans to the underdeveloped countries with trade conditions attached that enslaved the people to international corporations, and left them burdened by mounting compound interest. The only “real value” is in gold, silver and precious stones, or a plot of land on which you can grow food.
All the vast trillions of dollars currently surging around the world are merely numbers on a computer screen.
As the various countries come forward and ask for transfers of numbers from one computer screen to another, the bankers charge INTEREST. Interest is another abstraction and the most pernicious of all. Ancient cultures forbade it, banned it and introduced usury laws to discourage it. We removed the usury laws under the pressure created by compound interest. The point is this: ONCE YOU LET COMPOUND INTEREST INTO A CULTURE IT WILL DESTROY THE CULTURE. This is a major part of the world’s financial problems now.