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The World Bank Is Hopeless and Changing Leaders Won't Help

Hats off to Ngozi ... A golden opportunity for the rest of the world to show Barack Obama the meaning of meritocracy ... When economists from the World Bank visit poor countries to dispense cash and advice, they routinely tell governments to reject cronyism and fill each important job with the best candidate available.

worldbank150It is good advice. The World Bank should take it. In appointing its next president, the bank's board should reject the nominee of its most influential shareholder, America, and pick Nigeria's Ngozi Okonjo-Iweala. – Economist

Dominant Social Theme: The World Bank is a great institution. We just need the right person to run it.

Free-Market Analysis: The World Bank is a part of a kind of "tag team" with the International Monetary Fund. The World Bank lends money to dictators and sundry thugs and then when these unsavory individuals abscond, the IMF is hauled in to make the people pay.

The process enriches Western corporations and ultimately creates more control for the Western power elite that has constructed the globalist echelon to begin with. The UN, the World Bank, the IMF, the International Criminal Courtand many other internationalist entities are hopelessly corrupt and evidently were designed to be so.

Every part of the globalist government-in-waiting deals with other governments, and all the corruption this entails. The entire elitist mechanism is focused on providing a variety of bureaucrats with fiat money-from-nothing in order to first distort developing world economies and then collapse them.

This basic mechanism has been documented endlessly by the Internet's alternative media, and choosing an African to run the World Bank won't change an iota of the larger corrupt system.

That doesn't stop the Economist, a leading mouthpiece of the power elite, from making the case that by switching the titular head from a Western person to an African person will somehow make a difference in what the World Bank is and what it was intended to be. Here's more from the article:

The World Bank is the world's premier development institution. Its boss needs experience in government, in economics and in finance (it is a bank, after all). He or she should have a broad record in development, too. Ms Okonjo-Iweala has all these attributes ... She has not broken Nigeria's culture of corruption—an Augean task—but she has sobered up its public finances and injected a measure of transparency. She led the Paris Club negotiations to reschedule her country's debt and earned rave reviews as managing director of the World Bank in 2007-11. Hers is the CV of a formidable public economist ...

Ms Okonjo-Iweala is an orthodox economist, which many will hold against her. But if there is one thing the world has discovered about poverty reduction in the past 15 years, it is that development is not something rich countries do to poor ones. It is something poor countries manage for themselves, mainly by the sort of policies that Ms Okonjo-Iweala has pursued with some success in Nigeria.

For almost 70 years, the leadership of the IMF and World Bank has been subject to an indefensible carve-up. The head of the IMF is European; the World Bank, American. This shabby tradition has persisted because it has not been worth picking a fight over ... The rest of the world should rally round Ms Okonjo-Iweala. May the best woman win.

We can see in these excerpts many of the dominant social themes of the elite – the fear-based propaganda that is used to frighten mostly Western middle classes into giving up wealth and power to internationalist institutions like the UN, World Bank, etc.

There is, of course, the code phrase, "orthodox economist." No doubt this means that Ms. Okonjo-Iweala is aKeynesian, someone who believes that government can eradicate poverty by printing a lot of paper money.

This is simply not feasible. People cannot put themselves in control of monopoly money printing without, over time, printing too much of it.

The result is the debasement of the currency and the distortion of the economy as those who print the money also tend to fund increasingly illegitimate forms of economic development. There is a reason the world is overbanked and that people cannot find jobs.

We can also note the hoary promotion of governmental "transparency." Ironically, there is even an international entity devoted to encouraging transparency in government – founded by a former executive of the World Bank!

Transparency does nothing really to foster better government. The problem is government itself, which has a monopoly on force and which, by definition, excludes itself from competition.

Competition is the most important tool of the Invisible Hand that regulates commerce. Without competition and marketplace results, the people running government are free to do as they choose and pursue whatever nonsensical initiatives they choose.

Government also provides a control methodology for the elite families that apparently run the world's central banksand seek world government. The control mechanism that is used is called mercantilism. This is the process of passing laws and regulations that benefit one's personal private interest at the expense of others.

But there is even more to the World Bank's brief that benefits the power elite and its one-world conspiracy. This conspiracy has various elements that mostly involve scarcity memes. The idea is that the world is running out of things and only strong government action can ameliorate the subsequent problems.

This agenda – the presentation of false scarcity memes and subsequent World Bank solutions can be seen in various criteria that the World Bank has enshrined as its "goals." These are actually United Nation goals, but the World Bank is part of the UN and thus enforces its mandates.

The "Millennium Development Goals" are intended to be "realized" (whatever that means) by 2015, and the World Bank proclaims its commitment to "achieving MDG goals" on its website, WorldBank.Org. MDG has eight goals. Each one of these items involves government bureaucracy at the local, national and international level.

Basically, the World Bank's enunciation of problems tracks the elite's phony promotional regime closely. More specifically, the goals are:

  • Eradicate Extreme Poverty and Hunger
  • Achieve Universal Primary Education
  • Reduce Child Mortality
  • Promote Gender Equality
  • Improve Maternal Health
  • Combat HIV/AIDS, Malaria, and Other Diseases
  • Ensure Environmental Sustainability
  • Develop a Global Partnership for Development

Start at the beginning. When it comes to eradicating extreme poverty and hunger, the World Bank is hopeless. Wikipedia, for instance, points out that, "Africa's poverty ... is expected to rise, and most of the 36 countries where 90% of the world's undernourished children live are in Africa. Less than a quarter of countries are on track for achieving the goal of halving under-nutrition."

This is entirely indefensible. The West and NATO have spent up to US$2 trillion in the past decade prosecuting an apparently phony war on terror, while irradiating parts of the Middle East with depleted uranium weapons.

The World Bank meanwhile, run by the same Western interests that run NATO, has been in business for well over a half-century – and yet African poverty is on the rise. This is because the World Bank's stated intentions have nothing to do with its reality.

Most of the other goals of the World Bank are similarly perverse. Universal public schooling is a disaster wherever it has been tried, but the World Bank is intent on inculcating it in developing countries.

The promotion of gender equality and the campaign to empower women is merely an additional effort to create a "battle between the sexes" that weakens traditional society and makes it easier for Western elements to exploit the resultant social tensions. Female emancipation should come from the society itself, not be imposed from the outside.

On and on. The goals sound laudable, but in practice the result is exploitative. The intention to ensure environmental sustainability is especially questionable as is the emphasis on greenhouse gases.

There is no sure scientific evidence that the world is warming or that human beings are the cause of the possibly non-existent warming. But the World Bank will be used to distort economies as it pursues this chimera. The end result will be to make societies poorer not richer.

In fact, the World Bank is an evidently destructive entity. Its approach encourages bureaucracy by channeling funds through the very governments it decries as corrupt and un-transparent. Its policies then enshrine impoverishment and social tension.

This is entirely in keeping with the REAL agenda of the World Bank that involves maintaining poverty in developing countries and establishing ever-more corrupt governmental entities that will be responsive to the elite agenda of world control.

Conclusion: It doesn't matter who leads the World Bank. Only private enterprise can lift people out of poverty. Government can't do it, and the World Bank is in any case actually configured to do the opposite of its stated intentions.

Source: The Daily Bell

© Copyright 2008 - 2012 All Rights Reserved. The Daily Bell is an informative compendium of independent economic views and analysis, which is published by The Foundation for the Advancement of Free-Market Thinking (FAFMT).

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