Introduction to the Global Financial System and IFIs

At the core of the global financial system rests the International Financial Institution (IFI), which was “supposedly” established to foster international economic cooperation, facilitate development, stabilize economies, and raise the population’s standard of living (without tarnishing their liberties or threatening their existence).

Of course, from our technical and logical observations, as well as from Bolton’s articulated arguments, the reality, most often and then not, is completely different. Governments, which are now in debt and controlled) by the IFI, have imposed interest-based lending and enforced neoliberal economic policies without regard to the well-being or security of the population. Through the IFI’s, they imposed shackles to enslave its general population as “interest slaves.”. Now, both the people and their governments are in a never-ending cycle of debt that perpetuates their dependency on external financial actors. This dependency not only undermines national economic sovereignty, but also generates social inequalities, lowering of social standards, destroying the middle class and the nation’s high culture and politics, and environmental degradation, as the goal for profits overshows the real needs and wants of the people and the planet. (E.g.: You will see the IFI minions hiding behind some sort of noble cause, but in reality, they are puppets doing the biding of the IFI!).

The Impact of IFIs on National Sovereignty

From a technical perspective, as well as from Bolton’s examination of “Interest Slavery,” a critical issue is highlighted: the erosion of national sovereignty, the erosion of cultural human beings, the erosion of the middle class, the erosion of the worldview of the nation, and the enslavement of the national government and its people through economic means. 

Now, through the dictation and imposition of economic policies imposed by the IFIs on governments to align with their interests for the benefit of global financial elites, effectively and efficiently diminished the ability for nations and people to pursue economic independence, keep hold of their liberties, and implement real social policies. This had manifested in many different ways within Europe, from imposed stringent austerity (forced reduction of government spending to pay off debts) measures that crippled and in some, destroyed the social services to the institutional takeover, to the forced open boarders, to the forced privatization of public assets, etc., all in the name of the newly imposed god that war possible by the destruction of identity, values etc.… The repaying of debts or attract specific foreign investments, in specific sectors to seize control of crucial sectors. These measure strip away the national autonomy, as it has to prioritise the repayment of debts over and above the real welfare and long-term interest and security of the people, thus creating an environment where economic decisions are now made up with a purpose to appease the international lenders rather the meeting the needs and wants of the populace.”

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