Monday, October 12, 2009

Ellen Brown on IMF Stimulus Spending Bolsters Rich Banks

Much of the developing world has been ruled through debt servitude for decades. The developing nations have had to restructure their economies around neoliberal principles--liberalization of finance, domestic austerity, privatization--in order to receive loans. The net effect of neoliberal reforms is that the world's population is increasingly impoverished.

Ellen Brown's analysis suggests the IMF has found a new tactic in the battle to govern the developing world through debt. This new tactic further enriches the few financial agents who increasingly govern the world with their values, their policies, and their interests.

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