[The IMF and the World Bank are key instruments of the finance/montary/credit-debt management of the entire world. Enacted at the end of WWII to establish US leadership of the world imperialist system, both IMF and WB have come under endless criticism and challenges over the decades, but the emergence of new imperialist powers from post-socialist Russia and China has posed historically-contending blocs-in-formation as unprecedented dangers to the once-presumed “permanent” US hegemony. Both IMF and WB have become increasingly tattered and less effective instruments, as challenges have grown. Congressional reforms aimed at a more durable structure for the IMF are hailed by the media-of-empire NY Times in the following editorial, which writes, strategically, ‘If the fund and the World Bank are to remain relevant and be truly global organizations, they cannot be seen as European and American fiefs.’ — Frontlines ed.]
Congress Gets Out of the I.M.F.’s Way
By The New York Times EDITORIAL BOARD, December. 22, 2015
The House went into holiday recess after passing a measure that included ratification of International Monetary Fund reforms.
After five years of Republican foot-dragging, members of Congress last week ratified an agreement that will increase the capital of the International Monetary Fund and give developing countries like China and India a greater say in the organization.
This should strengthen the fund at a time when its expertise is needed to help revive a slowing global economy. In 2010, the Obama administration negotiated an agreement with other countries to double the I.M.F.’s capital to about $755 billion, so it could lend more money to troubled countries like Greece and Spain. The changes also gave more voting power in the fund’s management to China, India, Brazil and Russia while slightly reducing the clout of European countries and the United States. Continue reading
Guinevere E. Moore, The Guardian (UK), Tuesday 28 April 2015
A United States court has all but declared open season on Mexican nationals along the US-Mexico border. Border patrol agents may shoot foreign nationals in Mexico with impunity – provided that those at whom they aim are standing within feet of US territory.
According to a ruling by the US Court of Appeals for the Fifth Circuit last week, agents who shoot and kill people in Mexico while standing on US soil will never be held to account, except before their administrative agencies. No court will ever review these actions and the families of the victims will be left with no avenue for justice. An agent’s actions will not be governed or restrained by the constitution nor subject to review by US courts.
This isn’t a hypothetic situtation: all of this has already happened.
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