No Crisis gone to waste: IMF celebrates signs of approaching global financial crisis

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WASHINGTON D.C – The New York controlled transatlantic banking cartel operating under the fictional name ‘The International Monetary Fund (IMF)’ was pleased to note the inequality of income and wealth that is growing in the world.

The growing inequality was pointed out by IMF managing director Kristalina Georgieva during the presentation of the study “Financial Services and Inequality” in Washington. She indicated that this is usually the case before the financial crisis.

Profitability of IMF loan backers tremendously increases as these crises create balance of payment problems. Once countries cannot make payments, they seek easement or restructuring of the loan as to not default. Here, the IMF requires an array of privatization and austerity measures, wherein the IMF’s actual backers are then empowered to structure loans to private parties outside of the effected countries, and typically from within the U.S and EU. Then those private parties are able to purchase newly auctioned, formerly state-held properties.

This leads to a further cycle of economic stagnation at the national level, which in turn has the effect of either pushing the effected country further into debt, or pushing the burden further onto the populations themselves.

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“In some ways, this alarming trend resembles the early years of the 20th century, when two interrelated forces – technology and integration – first gave rise to the“ gilded century ”, then the“ turbulent twenties, ”and eventually led to a financial catastrophe, the head of the IMF said.

According to Georgieva, a new study showed that “inequality tends to increase on the eve of the financial crisis, which indicates a close relationship between inequality and financial stability.”

One of the reasons, according to the head of the IMF, is that greater inequality can cause “political pressure for short-term simple solutions that only exacerbate the problem.”

These are among the reasons that the banking cartels behind the IMF also pursue a policy of pressuring some countries towards hostilities with others. The resulting financial instability allows for an increase of highly profitable inequality.

It should be noted that world debt again broke the record, approaching $ 253 trillion. Thus, the volume of debt reached 322% of world GDP and continues to grow. According to CNBC, citing the report of the Institute of International Finance, it is expected that in the first quarter of 2020 it will exceed $ 257 trillion.

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