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How BCCI Ripped Off Poorest Countries

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Robin Hood in Reverse

The International Monetary Fund (IMF) and the Caribbean Development Bank (CDB) had close ties to BCCI.

The CDB was founded by David Rockefeller’s International Basic Economy Corporation which launched the Caribbean Basin Initiative.  CDB loans money to countries that agree to allow multinational corporations to set up tax-free operations within their borders to take advantage of cheap labor.  These areas become known as export processing zones and give the corporations additional tax benefits from the US government.  The IMF came out of the Bretton Woods financial agreement signed after WWII and was officially founded in 1973.

The IMF serves as gatekeeper for the World Bank and the giant international money center banks which fall under its umbrella.  The IMF serves as judge and jury in ordering Third World countries to privatize their economies. It imposes harsh austerity measures which hit the poorest people the hardest.  These measures include raising electricity rates, imposing a value-added tax or ending government subsidies for basic foodstuffs such as rice and beans.  If the country in question follows IMF mandates it continues to receive loans from the World Bank crowd.  If it does not, the country is cut off, its currency devalued and its economy ravaged by hyperinflation.

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