It seems a bit shocking that Christine Lagarde, the managing director of the International Monetary Fund (IMF), is being investigated by a fraud case and… nothing happens, IMF board claims that she can continue carrying out her duties, promoting
high employment and sustainable economic growth poverty all around the world.
Dear Mr. Camdessus
But that is coherent with the IMF’s history. In this post I bring a letter written in 1988 by Davison L. Budhoo, an economist who was working in the IMF during 12 years. This was an open letter of resignation to the managing director of the IMF. This is the start of the letter:
“Today I resigned from the staff of the International Monetary Fund after over twelve years, and after over 1000 days of official Fund work on the field, hawking your medicines and your bag of tricks to governments and to peoples in Latin American and the Caribbean and Africa. To me resignation is a priceless liberation, for with it I have taken the first big step to that place where I may hope to wash my hands of what in my mind’s eye is the blood of millions of poor and starving peoples. Mr. Camdessus, the blood is so much, you know, it runs in rivers. It dries up too; it cakes all over me; sometimes I feel that there is not enough soap in the whole world to cleanse me from the things I did do in your name and in the name of your predecessors, and under your official seal.”
The letter is long (here is the complete letter: Enough is enough), and Davison explains with details the methods that the IMF used to destroy the economy of Trinidad and Tobago, a small island country at the northern edge of South America: the IMF manipulated systematically certain key statistical indices, letting them to make false pronouncements about economic and financial performance of that country, and an intense campaign of misinformation. With this, the IMF got this country was repeatedly denied access to international financing. So, once Trinidad and Tobago had been destroyed economically, the government needed to ask for financing from the Fund. And the IMF imposed its conditions: deregulation, privatization and cuts to social spending, the holy trinity of neoliberalism, so crushing even more the inhabitants of this country.
But Trinidad and Tobago wasn’t an isolated incident, a tragic mistake or negligence. This is the usual practice of the IMF all around the world. IMF’s crimes aren’t mistakes but deliberate crimes, as a mafia gang destroying a local to offer later its “protection”.
A naive soul might think that this open letter should have caused some reaction, like an investigation, courts trying Michel Camdessus (the managing director during the attacks detailed in the letter) and/or other members of the IMF, a wave of outrage against the organization… no, nothing happened. Even, none conventional media published the news about this letter; media always know what they are authorized to publish and what they aren’t. If you search for Davison Budhoo in internet, you’ll find him only in the so named alternative information sites.
And the IMF continues making its duties around the world, as if nothing had happened. This is what they say about themselves, in the IMF site:
“The International Monetary Fund (IMF) is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”
Nice, isn’t it? But nothing to do with reality. The International Monetary Fund is an international criminal organization, with the mission of spreading neoliberalism all around the world. International because it operates in almost every nation, although everyone know it is a USA’s puppet.
The IMF has killed many more people than any other terrorist group in its 69 years of history. Not with bombs, but deliberately causing economic collapse of a lot of countries, poverty of millions of people, famines, thousands of deaths by starvation, suicides. And it continues, with the complicity of most of the governments around the world. All to spread the neoliberalism all around the world and so to enrich the financial elite.
Christine Lagarde is likely a felon, indeed. Obviously, she would not be the managing director of a criminal organization if she were an honest person, and obviously she will not be fired just because she is a corrupt.