Monday, May 18, 2009

The Insiders Speak: The IMF Will Be the Organization of Choice to Rule the Financial World

The Treasury today released a letter from the Bretton Woods Committee, which includes the bipartisan support of five former secretaries of the Treasury, four former secretaries of State and foreign economic policy and national security experts to Speaker Pelosi and Majority Leader Reid expressing their support for the Administration's request for prompt enactment of additional funding for the International Monetary Fund (IMF), including the Obama Administration's request for the IMF's New Arrangements to Borrow (NAB).

President Obama is seeking Congressional approval for two actions as part of the FY 2009 supplemental bill currently under consideration – an increase of up to $100 billion for U.S. participation in the NAB, and an increase of about $8 billion in the U.S. quota in the IMF.

Signers of the letter released by the Bretton Woods Committee were:

James A. Baker, III

Nicholas F. Brady

Frank C. Carlucci

Henry Paulson

Lee H. Hamilton

Colin L. Powell

Henry Kissinger

Condoleezza Rice

W. Anthony Lake

Robert Rubin

Robert McFarlane

Brent Scowcroft

Paul H. O'Neil

Paul A. Volcker

It's all just one exclusive club. Colin Powell and Paul Volcker make noises about being honest brokers, but when it is time to support the power elite, they always can be counted on. Most of the others are not deluded as to what their roles are.


  1. Do all the supporters of "participatory democracy" not notice that the only thing that ever keeps a politician from perpetuating himself in the system of power in this country, is his eventual and inevitable death?

    In other words, the only thing that preserves this country from suffering indefinite oligarchy is biology?

    Oh, but we need smart, "experienced" politicians! We couldn't entrust an apparatus as big, unwieldy and powerful as the US Federal Government to newbs!

  2. It's also a way to keep the dollar as the global reserve currency.