What is IMF and the World Bank?
It is widely, but mistakenly, believed that the purpose of the World Bank [controlled by the U.S. Federal Reserve] and the International Monetary Fund (IMF) [of which the U.S. is the principal donor and the only nation with the veto power] is to “encourage development and relieve poverty in the third world, but in practice these organizations have added to the impoverishment and destitution of millions” through the loans scheme called “Structural Adjustment Programmes” (SAPs) that have succeeded in adding to the country´s burden of debt and stagnation. The obvious result of the SAPs from the World Bank and the IMF is that the money lent to the destitute nations were used to make immediate interest payments to western banking institutions, something that both Jim Tucker and I have been saying for years. Furthermore, by ordering Third World economies to focus on production for export purposes, the World Bank and the IMF channelled $178 billion of the Third World financial resources betwe
