Lima to Host 2015 World Bank and IMF Meetings

Lima is to host the 2015 meetings of the boards of governors of the World Bank and International Monetary Fund.

The announcement was made this morning by Premier Rene Cornejo, accompanied by World Bank secretary Mahmoud Mohieldin and IMF secretary Jianhai Lin, as well as Finance minister Luis Miguel Castilla and Central Bank president Julio Velarde.

The boards of governors of both financial institutions hold their Governors’  meetings every October in Washington and every three years in a different city.  The 2012 meetings were held in Tokyo.

Lima will be the third Latin American city to host the meetings, following Mexico in 1952 and Rio de Janeiro in 1967.

Some 10,000 participants are expected at this event, which brings together central bankers, ministers of finance and development, private sector executives and academics to discuss global issues, including the world economic outlook, poverty eradication, economic development, and the effectiveness of aid. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system.

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  1. Jason W. Smith, Ph.D, says:

    Peru Must Prepare to Fight the Neoliberal Gang

    Peruvians need to understand that the IMF and World Bank are the two main pillars of the most evil policy the civilized world has ever known. Bringing them to Lima might be good business for hotels and shops. But it is bad business if it is meant to give a decency cover to the worst people who have ever walked the Earth. A short history of what this neoliberal policy is all about may be of assistance to your readers.

    It is also critical to understand that this policy is what has led the USA oligarch’s to the Wolfowitz-Kagan Doctrine to dominate the world. The implementation of this doctrine is what is responsible for Iraq, Syria and the Ukraine. These are intended to force the EU to accept the domination of the US ruling oligarchy, and to oppose the third enemy Iran.

    The other two opponents of US imperialism are Russia and China and the Wolfowitz-Kagan Doctrine calls for their containment and gradual weakening. The fourth target of this Doctrine is Latin America and right now Peru is the main foothold they have. That evil Death Star embassy of the USA in Lima is the living embodiment of what they intend to do to the Americas. The US White House website continues unashamedly to spell out this world domination doctrine. As did Obama at West Point and Normandy.

    The Neoliberal System Collapsed in 2008
    Neoliberalism is just the most recent phase of the classical liberal thought system with the modification of a compromise with the growing power of the families of the Far Right. Specifically the US establishment families acceded to the idea of a massive government intervention on behalf of the arms manufacturers and their great bankers. It is this system which collapsed in 2008.
    A last gasp concession was made to the North American masses in the form of the “Obama resolution” meaning the handing of the reigns to Obama in November 2008. This was classical Labor Fakery taken to the “Nth” degree.
    In the meantime the extremely frightened US ruling oligarch families created an Orwellian system of mass surveillance (NSA) to prepare for the inevitable armed revolt of working people at home and abroad. The US oligarch trillionaires and their foreign equivalents know how fragile their extant system was (and is) and how vulnerable it is to a sudden mass awakening of the North American people.
    However I believe their “1984” conspiracy has only made it likely that armed conflict in the form of civil war is inevitable in North America. Most importantly it has shown how determined the US oligarchs are to retain state power at any cost. The road ahead for them was written by George Orwell and has as its cornerstone the direct daily observation of the thought and lives of every US citizen – and, then of every person in the world, including Peruvians!

    Flashback
    Classical liberalism featured the concept of laissez faire capitalism with governments playing a limited role. During the first half of the 20th century there was a worldwide ruling class division (in each of the major imperialist countries [i.e., The US, UK, Germany, France, Italy and Japan] into fascist and liberal camps. The end of World War II found only the English-speaking capitalist countries emerging intact; the major fascist countries had been destroyed. The Soviet Union, considered a miracle in the making after 1945 by economists of the time, recovered much faster than the other victors had anticipated.
    At any rate it was then that the political-economic doctrine we know as the neoliberalism of imperialism, as expressed by the only English speaking country that mattered (the USA), took shape and form. In other words the Gringos had taken their other co-lingual countries in tow, forming the vanguard of world capitalism.

    The Liberal System
    The interwar period (1919 to 1939 for North America and Europe) witnessed the over-riding greed expressed in a multitude of international trade barriers established by the great capitalist families driving these imperialist countries they ruled to war. This was something that the Bolsheviks had annually discussed (e.g Stalin’s 1920s and 1930s speeches on imperialism and its international contradictions) and was nothing new to us. –And it was something recognized by the great ruling families of the US Northeast and Midwest as well. FDR’s Secretary of State Cordell Hull saw this friction as the chief cause of both world wars. Hull was the chief spokesman of the FDR administration representing the majority of the US ruling oligarch families. These families and their “thinkers” had concluded that a liberal international economic order without trade barriers could be established. This was to be done as soon as possible establishing a new, world, order. In the meantime North America’s ruling oligarch families would rule via a carefully regulated monetary order tied to the US dollar that in turn was tied to the gold standard internationally. Government intervention, (meaning government management of the economy a la the New Deal in the US), would insure that unemployment, public works expenditures and other social issues would be appropriately regulated to prevent social upheaval due to unfairness of the social contract otherwise inherent in laissez faire capitalism. In this way the post-War Era was to insure international tranquility. Otherwise, the world was certain to go down the interwar road to another economic disaster.

    Not all the (New Rich) US families concurred. They were the nuclei behind the formation of a de facto fascist pole in US politics to be known as the Far Right and had their center in Texas and Oklahoma.

    The interwar period had also featured several imperialist countries protecting their local ruling families via tariffs and various trade bloc schemes (e.g. the UK and Nazi Germany had established strict protectionist regimes and were often at loggerheads with the US over these barriers to US goods and services). By wars end, the matter had been resolved by the facts of life. All the imperialist countries had been destroyed except for the USA. Thus there was no longer any serious opposition to US hegemony over the other capitalist countries. The US rulers emerged as the sole important imperialist country (economically intact and its physical plant virtually untouched and in fact jumped-up by the war).

    The end of 1945 (27 December) established the mechanics of this New World order by 29 members of the Bretton Woods conference in the form of the IMF (International Monetary Fund).

    Bretton Woods and Dumbarton Oaks
    From the 1st through the 21st of July 1944 730 representatives from the US allied countries (i.e., from 44 nations) gathered in Bretton Woods New Hampshire at the Mount Washington Hotel, to hammer out a post-war economic agreement where the central feature would be pinning their national currencies to the US Dollar. At that time the US held the majority of the world gold supply, and had the only stable economy in the Capitalist world. What came out of this meeting as the final product was what was called the General Agreement on Tariffs and Trade (GATT). From this came the International Monetary Fund (IMF) and The World Bank (beginning as the International Bank for Reconstruction and Development.)

    Then from August 21st 1944 through October 7, 1944 a second conference was held in Georgetown, Washington DC, at the palatial Dumbarton Oaks estate of Robert Woods and his wife Mildred Barnes Woods. The delegation from the Soviet Union refuse to sit down with Chiang Kai-shek’s emissaries (as this thug had been a de facto ally of Japan during the war and the years leading up to the war). As a result there were two conferences the first featuring the participation of the USSR and the second immediately thereafter where the Gringo Regime and the UK collaborated with the traitor Chiang’s delegates.
    Dumbarton Oaks was the first organizational manifestation of the 1943 Moscow Declaration about building a post war world. It resulted in the United Nations founding Conference in San Francisco. It was here that the victors worked out the post-war political order, as the previous month they had worked out the postwar financial world order in New Hampshire at Bretton Woods.

    Today
    Now in Peru the wreckage of the international monetary system created by constant money invention (not even printing any more just balance sheet electronic fictionalization) has to be reconciled with the lack of gold by the major cap powers. What Peru needs is more solid growth and should not get involved with this bunch of fraudsters about to become extinct. Although taking their money for hotels and restaurants might be a good idea if it is still any good by the time they get here.

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