THE DECEPTION: Little Mongoloid Treasurer And His Bandit Of Caucasian Advisors
by Therow Zuaru
▪️IMF Structural Adjustment Politics
The global economic and financial system is a system of lies, deception and predation on a large scale. The World Bank, IMF keep the public in a position of indentured servitude, through perpetual debt, inflation and interest.
The basic scam is simple: Put a country in debt either by its own indiscretion - or through corrupting the leader of that country - than impose "conditionalities" or "structural adjustment policies" often consisting of the following:
• Currency devaluation - when the value of a currency drops, so does everything valued in it. This makes indegenious resources available to preditor countries at a fraction of their worth.
• Cut social programs - large funding cuts for social programs. This usually include education and healthcare - compromising the wellbeing and the integrity of the society - leaving the public vulnerable to exploitation.
• Privatization - privatization of state owned enterprises (SOEs). This means that socially important systems can be purchased and regulated by foreign corporations for profit.
• Trade liberalization - or the opening up of the economy through removing any restrictions on foreign trade. This allows for a number of abusive economic manifestations such as transnational corporations bringing in their own mass produced products, undercutting indegenious productions and ruining local economies.
So how does it works?
Generally, nations do run balance of payment deficits. This occurs when one spends more than one earns. Within nations, this happens when a nation’s imports of goods and services exceed their exports of goods and services. The resulting balance of payments deficit is generally accompanied by additional money creation which weakens the value of the nation’s currency. The U.S. dollar is an exception to this general rule due to its status as a reserve currency which puts upward pressure on the dollar's value. Nations which face the prospect of a weaker currency due to a balance of payments deficit correspondingly face the prospect of capital flight and price inflation. In order to gain control over these potentially politically destabilizing forces, nations often attempt to buy time by financing these deficits through borrowings from the IMF. This, however, comes with strings attached.
The IMF, within its terms of lending, imposes structural changes on the borrowing nation, which, if all goes well, will increase the borrowing nation's export sector and subsequently improve their balance of payments position. The structural changes typically include a free floating currency which usually results in currency devaluation, the sell-off of state owned enterprises, reduction or elimination of food, fuel, and housing subsidies, strengthened property rights which, in developing nations, often forces the nation's indigenous population from their communal lands and limits their access to communal water sources, fiscal deficit reduction, and an elimination or reduction of trade restraints. All of these measures strike hard on the working and non-working poor. Jobs are lost, wages become depressed and cost rise. If, overall, however, GDP and exports grow as result of the above adjustment program, the IMF declares victory and the nation's increased foreign currency earnings from export growth reduces the nation's balance of payments deficit.
So even when deemed successful, i.e., higher overall GDP, nations which undergo the above structural adjustment program, generally experience increased wealth and income disparity, higher rates of poverty, and a lower provision of health care and education among the general population. Although the nation's income may have increased, it is often not spread evenly across the population and political instability often results. Much of the turmoil that is currently being experienced throughout the third world nations are arguably, at least partially if not majorly, the result of IMF structural adjustment programs. If masses are not fully aware of this deception by the little mongoloid Treasurer and his shadowy caucasian advisors. Papua New Guinea may soon be a victim to the IMF structural adjustment programs.