The volcano: is Asia behind it?
April 19, 2010 7:59pm
by Alan Beattie
Consider the evidence: it’s the IMF/World Bank spring meetings this coming weekend in Washington. Big emerging market countries, mainly in Asia, have been pushing for a higher voting weight on the executive boards of the Fund and Bank. Standing in their way are the Europeans, who would have to give up some of their influence. And the week of the meetings, it just so happens that a volcanic ash cloud threatens to keep the Europeans away altogether and let Asia grab a lot more of the attention.
I’m not necessarily saying I have cast-iron proof from two sources that the Asians got the volcano to erupt somehow. I’m saying it’s mightily convenient, that’s all.
Tags: Asia, Europe, IMF, volcanoes
Or maybe it was USA president Richard Nixon
who on 15 August 1971 broke the 1944 Bretton Woods system (1),
thereby depriving the IMF of any reason to continue to exist?
If the IMF continues to exist, this is in order to support the bankrupt dollar regime.
Euroland says njet
The 1944 Bretton Woods agreements linked the USA dollar at fixed parity of 35 dollar to an ounce of gold and all other currencies to the said dollar. The IMF’’s only function is to supervise and maintain that system. The system is no longer in existence, so the IMF bureaucrats should look for a honest job.