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Politics : Bill Clinton Scandal - SANITY CHECK
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To: dougjn who wrote (6918)10/3/1998 5:08:00 PM
From: Bilow  Read Replies (1) of 67261
 
Hi dougjn; Regarding that IMF funding, etc. When I was younger, I knew all the answers to these sorts of questions.

Having admitted my own ignorance, I suggest that the IMF is running without a clean windshield themselves. If they knew what they were doing, they would have (1) Predicted all of this, and planned for it. (2) Not have lost all that money to Russia, etc.

My primary complaint about the IMF is that their advice seems to be contrary to what nations undergoing depression have traditionally done. Wouldn't they have prevented Roosevelt from devaluing the US dollar back in 1933?

It seems to me that the actions of the IMF are more likely calibrated to protect the large 1st world money-center banks. In that sense, they are protecting the developed world's capitalist system, not the countries they give advice to.

-- Carl
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