The International Monetary Fund (IMF) in it’s attempt to subvert the laws of nature and have the global economy growing endlessly has again ‘downgraded’ it’s outlook for global growth, meaning we’re still growing but not fast enough for their predictions. This has impacted financial markets and business confidence around the world enough to shift currencies and cause more instability in global casinos. I mean stock markets, sorry.

It should make us wonder, why do we have an IMF and why does anyone care what they think? Set up with public money but without any public accountability (the IMF operates for the most part behind a veil of secrecy) the organisation was created originally in partnership with the World Bank to facilitate short term loans between countries and assist in enhancing globalisation and international trade. Since the 1980’s though, the IMF has done more work in bailing out countries struggling with a debt burden and should assume a good portion of responsibility for making sure countries are encumbered with a credit card they can’t pay – you know, like a bank. In fact in a June 2015 article, the Wall Street Journal reported that IMF economists were encouraging countries to disregard their debt and ‘not worry about it.’

So the IMF is an institution that assists countries and in that banks and large corporates in the event that they need financial assistance. This is known as ‘corporate welfare,’ a term which should not exist in a world where so many live below the poverty line. Assisting countries to get into more debt and through this companies that should no longer exist to keep functioning off the back of the workers with absolutely no repercussions is wrong. If a government gives a significant cash injection to a business, the country doesn’t become a ‘major shareholder,’ that business is then a public business but thanks to the system created by the IMF and the World Bank, this isn’t how it works anymore and these failed entities are allowed to continue operating, using the public’s money but with no benefit to the public whatsoever.

The IMF has no interest in public welfare or maintaining global stability. It’s only focus is on the global financial system of debt and repayment which has been designed to keep sovereign nations under the heel of a corrupt global financial system which serves the few.