This is the fifth installment in a series of chapter summaries from G. Edward Griffin’s must-read book The Creature From Jekyll Island. This book may be the most important “red pill” available and we highly recommend that you read the full book. Buy it today at RealityZone.
G. Edward Griffin
Chapter 5 Summary: Nearer to the Heart’s Desire
The IMF and the World Bank were created at a meeting of global financiers and politicians held at Bretton Woods, New Hampshire, in 1944. Their announced goals were to facilitate international trade and to stabilize the exchange rates of national currencies. The unannounced goals were quite different. They were the elimination of the gold-exchange standard as the basis of currency valuation and the establishment of world socialism.
The method by which gold was to be eliminated in international trade was to replace it with a world currency which the IMF, acting as the world central bank, would create out of nothing. The method by which world socialism was to be established was to use the World Bank to transfer money–disguised as loans–to the governments of the underdeveloped countries and to do so in such a way to insure the demise of free enterprise. The money was to be delivered from the hands of politicians and bureaucrats into the hands of other politicians and bureaucrats. When money comes from government, goes to government, and is administered by government, the result will be the expansion of government.
The theoreticians who dominated the conference at Bretton Woods were the well-known Fabian Socialist from England, John Maynard Keynes, and the Assistant Secretary of the U.S. Treasury, Harry Dexter White. White became the first Executive Director for the United States at the IMF.
The Fabians are an elite group of intellectuals who agree with Communists as to the goal of socialism but disagreed over tactics. Whereas Communists advocate revolution by force and violence, Fabians advocate gradualism and the transformation of society through legislation.
It was learned in later years that Harry Dexter White was a member of a Communist espionage ring. Thus, hidden from view, there was a complex drama taking place in which the two intellectual founders of the Bretton-Woods accords were a Fabian Socialist and a Communist, working together to bring about their mutual goal: world socialism.
Capital for the IMF and the World Bank comes from the industrialized nations, with the United States putting up the most. Currencies, such as the dollar, yen, mark, and franc, are augmented by many times that amount in the form of “credits.” These are merely promises by the member governments to get the money from their taxpayers if the Bank gets into trouble with its loans.
The IMF gradually is evolving into a central bank for the world with the World Bank as its lending arm. It has become the engine for transfer of wealth to underdeveloped countries. This has lowered the economic level of the donating countries but it has not raised the level of the recipients. The money has simply disappeared down the drain of political corruption and waste.
|Source: Freedom Force|
This is the stained-glass window in the Beatrice Webb House in Surrey, England, former headquarters of the Fabian Society. It depicts Sidney Webb and George Bernard Shaw striking the Earth with hammers to “Remould it nearer to the heart’s desire.” Note the wolf in sheep’s clothing in the Fabian crest above the globe. The window is now on display at the London School of Economics.
Get the book for yourself or for others you want to wake up. It reads like a mystery novel and is filled with colorful metaphors that make the seemingly complex world of banking very easy to comprehend. Visit RealityZone for your copy today. Summary is re-printed with permission from G. Edward Griffin.