Exclusive to The SPOTLIGHT
The publicity brought to the International Monetary Fund and the World Bank meetings forced globalists to take their schemes out into the open.
They heard everybody—Pat Buchanan, Liberty Lobby, tie-dyed and tattooed environmentalists,
black-clad anarchists and buttoned-down internationalists who want a kinder, gentler world
These protesters forced the International Monetary Fund and World Bank, meeting jointly in Washington April 16-17, to curb their actions while defending their existence.
In session after session, in formal speeches and at every news conference, the international bureaucrats felt compelled to argue that banking policies that enrich the rich and impoverish the poor will be "improved" and pollution-causing projects are not polluting.
But—above all else—IMF and World Bank officials argued that surrendering national sovereignty to international institutions is not surrendering sovereignty.
"Some have criticized the WTO as an organization that infringes on the sovereignty of its member governments," but "the WTO is basically a commercial court," said Michael Moore, director-general of the World Trade Association, in a speech April 13 at the National Press Club.
But, Moore said: "We have learned to live as citizens of the world . . . pollution crosses borders easily, so do criminals. Globalization is not a policy option" but a fact of "interdependence."
People "are protesting against globalization," said IMF Director and Bilderberg regular Stanley Fischer in a formal address. "So I will talk about globalization. Integration of the world economy is the best way."
The IMF "will do what it can to create a stable global economic environment" and make "the global financial system run better," Fischer said. "We are sharpening our surveillance of economic policies."
"Surveillance" is an IMF euphemism for dictating economic policies to once-sovereign nations for the benefit of international financiers and corporations.
CHINA TRIP BLOCKED
In another victory for protesters, a planned trip to Red China for congressmen undecided
about granting permanent favorable trading status was canceled because most of them decided
against the trip.
Instead, they are spending the Easter recess at home.
The White House had hoped to have 20 congressmen travel with Commerce Secretary William Daley to China and another 20 travel later with Agriculture Secretary Dan Glickman. Now, it is hoping to have 10 to justify the second trip scheduled to leave April 24.
Pat Buchanan helped make the trip impolitic for the congressmen when speaking to a rally of thousands of union members at the Capitol.
"I'd tell 'em, 'You've sold your last pair of chop sticks in any mall in America,' " Buchanan said to the cheers of the workers.
Meanwhile, criticism of the World Bank and IMF continued unabated, not only on the streets, but in the offices of experts.
Kevin Danaher, who has written extensively and authored a book on the subject, said:
The World Bank takes our tax-payer money and uses it as collateral to issue bonds from major banks. That money is then used to create leverage over third-world Elites.
The World Bank lends these Third World countries money—on the condition that they will implement policies written in Washington and Wall Street. The bank is actually sucking money out of these countries.
"The World Bank and IMF, like the WTO, are using public funds—yet are undemocratic, unaccountable and advancing the interests of the rich and powerful," said Daphne Wysham, coordinator of Sustainable Energy and Economy Network.
"Since the bank is not punished for defective projects . . . it has no incentive to improve the quality of its lending," said Catherine Caufield, author of a book on the IMF and World Bank.
In secret deliberations, both the IMF and World Bank guarantee loans to poor, uncreditworthy nations. International financiers then make loans and investments with a potential for immense profits because of cheap labor and goods—at no risk. Often, money publicly designated to a poor country goes straight to the banks as interest payments and is never touched by the "beneficiaries."
The practice of deliberating secretly to bail out big banks and international financiers was the main complaint of demonstrators.