The myth of the IMF has been shattered

MAKE (translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 5 aprilie 2016

Christine Lagarde

Christine Lagarde

Several myths have been shattered through the recent disclosure of the conversation between IMF employees Poul Thomsen and Delia Velculescu, which shows how they conspire to reach their goals, and for us, the subject is even more interesting, especially since they both are connected to Romania.

Poul Thomsen is the head of the IMF for the European Division, responsible for the IMF program in Greece and Portugal, which also oversees the activity of the IMF country teams, (including) those in charge of Iceland, Ukraine and... Romania.

Delia Velculescu is the head of the IMF mission in Greece, and she originates from Romania.

Their conversation, revealed by Wikileaks last week, caused consternation and outrage, because that conversation shows that they intend to " manage" so-called "events", for example, to threaten with Greece's default (or even cause it), by pulling the IMF out of the financial group that is propping up the Greek state, which also includes the European Central Bank (ECB) and the European Commission, an exit which the IMF wants anyway, because its rules prohibit lending money to insolvent debtors, such as Greece.

The problem is that Thomsen wants to coordinate "when" the "event" would happen (as opposed to "if"), and he is thinking of pushing it just slightly prior to the British referendum of June 23rd, when the UK residents will decide whether they still want to belong to the European Union (which would put pressure on the votes). That would crush German chancellor Angela Merkel, the European leader who has taken it upon herself to maintain the integrity of the European Union, but who is opposed to the cancellation of Greece's debts, because she is already being accused by her own citizens that she is wasting the labor and the wealth of the country, to retain in the EU the insolvent countries called "PIIGS".

Merkel couldn't wage a war on three fronts - "the British front", "the Greek front" and "the German front" - and, according to the plans of Poul Thomsen and Delia Velculescu, would be forced to strike a deal.

The first myth that the knowledge of this conspiracy shatters is the fact that the IMF is involved in conspiracies.

For years, the people who have been saying that they are suspicious of conspiratorial nature of the IMF have been ridiculed in every possible way.

The "high life" of the financial sector said about these distrustful people that they don't understand that the World Bank and the IMF are just "devices" of international financial coordination, without any political agenda, driven only by technical objectives.

They said that the suspicion is a sign of the discontent of the people forced to implement the reforms and the restructurings required by the IMF, but which were in fact necessary.

And they also said that this suspicion is a disease, even a psychological issue called "conspiracy obsession", that we Romanians at least we get from communism and which reveals our ideological nostalgia.

We now have the proof that the IMF conspires and that someone like Vadim Tudor, for example, even though he wasn't completely sane - he was a boor (I said it when he was alive, I don't see why I shouldn't be saying it now) - , wasn't completely crazy, at least not in every regard.

The IMF literally creates scenarios.

And they are political scenarios too.

The second myth that has been shattered is that the IMF is acting in good faith and that it wants to do "good".

When you find out what Poul Thomsen and Delia Velculescu mean by "event", it makes your hair stand on end: bank shutdowns, halting the payment of wages, halting the payment of pensions, corporate defaults, maybe suicides - famine, protests and street riots, death across an entire nation.


Poul Thomsen şi Delia Velculescu speak about the "event" as they would a pawn, which they are pushing towards " queen" Merkel on the European chess board.

Are they guided by "good" intentions?

Of course, somewhere, far in the background, shimmers the goal of getting a reduction of Greece's debt.

But at what price?

At the cost of the " event".

The third myth that has been shattered is that we "should" be a "class of sedulous pupils of the IMF", and when it comes to the lack of personality and subservience whose undisputed champion in Romania, were Victor Ciorbea and his CDR cabinet, which was endorsed, like nowhere else, by the IMF and the World Bank.

Obviously, Ciorbea turned us into a pawn on the chessboard of the IMF, and idiocy which continued in obvious or less so forms by all those that have succeeded him, culminating in the inconsistent behavior of PM Boc (who everyone knows was actually just "Băsescu" by another name).

The fourth myth shattered is that the IMF has any solution to the global financial crisis, or at least to the one on the European continent.

Faced with the dialog between Poul Thomsen and Delia Velculescu, some have understood that in fact the financial crisis is in fact an outcome of the chess game of the IMF, an impression further reinforced by invoking the statements of IMF head Christine Lagarde, that the influence of the IMF increases in the periods of weakness of the world economy and decreases during boom periods.

But, Christine Lagarde didn't tell us anything we didn't already know, the world knows that prior to the global financial crisis, in 2007, the IMF was gasping on the edge of nothingness, only to start spitting fire and become a global, financial, banking, economic and political arbiter, once the crisis began.

If we also add the fact that the IMF had studies which stipulated the beginning of the crisis, but did not see fit to warn its shareholders - the countries of the world -, then the scenario of the IMF acting deliberately is complete and of course the apologies which the IMF issued to the international community, for not having informed it, do not matter.

And since we see that the "conspiracy obsession" is not a disease, the scenario becomes likely.

But the crisis is real, and its causes are not the result of the IMF: the planet is producing too little, compared to the growth of the global debt, at a pace which production can't keep up with.

The IMF can not do anything or almost anything about it.

The IMF is just one of the major institutions of the world, which only arbitrages the crisis, but cannot stop it.

The dialog between Poul Thomsen and Delia Velculescu shows that not only do they want a greater influence of the IMF over Europe and that in order to achieve that, nothing is off limits to them, accepting without any qualms the risk of the "event" in Greece, of the exit of Great Britain from the European Union, of the collapse of Angela Merkel, not just as a European leader, but also before her own electorate, of the destabilization of the European Union in general, with all the imaginable consequences.

No, the IMF doesn't have a solution for the crisis.

All the IMF wants is power.

At least, that is what Poul Thomsen and Delia Velculescu show.

And all of the above is not in a conspiracy theory, but a discussion that actually took place.

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