Badlands Media - Badlands Book Club: The Creature From Jekyll Island - Chapter 5, Part 1

Episode Date: June 4, 2026

CannCon and Ashe in America open Chapter 5 of G. Edward Griffin's The Creature from Jekyll Island and the bailout game goes global. The 1944 Bretton Woods Conference gets a full autopsy: the IMF and World Bank were designed by Fabian socialists and a communist spy, Harry Dexter White, to eliminate gold from international finance and build world socialism one loan at a time. The Federal Reserve is no longer just America's lender of last resort. It is the planet's. SDRs get exposed as bookkeeping wizardry backed by nothing. Nixon's 1971 gold decoupling gets its proper context. And the World Bank's humanitarian branding gets stripped away as the crew walks through regime after regime, Tanzania, Ethiopia, Zimbabwe, Vietnam, all receiving billions while committing atrocities their own governments openly planned. George Bernard Shaw, Fabian co-founder, gets quoted explaining exactly what socialism does to people who are not productive enough to justify their existence. The IMF opposes Bitcoin. CannCon and Ashe are not surprised.

The Badlands, one of the Badlands, explain those Badlands. That's a hell of their name. All right. Good afternoon. Ladies and gentlemen, welcome to Badlands Book Club. Hi. How you doing, Ash? I'm doing great, Brian.

All right. I had to take down the banner up there. We had the extra banner. I'm in a great mood. And I'm ready for it to change. Well, That's what happens when we talk about the Federal Reserve and what's been done to the American people. That is a very valid point.

Get a little outrage this afternoon as we go through. We're on chapter five, I think. Let's see where we're at. I think we're on chapter five. And we have to end right on time today because we have, why don't I have my folded page? you have to end very early today because because we have our first garth exclusive live stream should we tell you yeah absolutely so you guys on june from june 25th to the 28th badlands media is heading back to deb with south dakota for the 12th stop on the great american restoration

tour whether you're intending in person or virtually whether you are a garth veteran or a garth virgin there is something for everyone merch packages are also now available for both in person and virtual ticket holders and you can get your Gart 12 tickets today at Badlandsmedia.tv slash events. And if you, if you do, then you get to join us in an hour for the first Gart 12 exclusive live stream. It's going to be fun. Those are always really, really fun. They are Badlandsmedia.com. TV slash events. And as we get into the creature from Jekyll Island, you're going to want to get some alternative fiat non-fiat currency something with you know a limit only so much twenty one million coins stack sats with river your bank kept sixteen hundred dollars from you in

twenty twenty five you probably didn't notice now multiply that by millions of americans that's over four hundred thirty three billion dollars in interest the banks kept your money goes in banks put it to work they make record profits you get almost nothing in return. And when they blow up, guess who has to bail them out? So what are you supposed to do? Ask politely, wait, accept that this is just how banking works? Or you could put your money where it works for you. On River, your cash earns 3.3%, paid in Bitcoin. earning bitcoin gives your money even more room to grow and it's just as easy as how you bank today you can get paid pay your bills and access your money anytime start banking with bitcoin on river

that lens me dot tv slash river you will not regret it you will not regret it i agree with that i've been stacking stats for a while now and i don't regret it not one bit i just bought a chunk when it was down at 61. Was it 61? I bought it at 61, I think. It's down right now. Well, it's at 63 now. 62.

62 I bought it. So hopefully, yeah, hopefully that's the bottom. It's got support at 59. So, or it supports at 60. So if it drops below that, I think it did dip below 60s. Nope. 61 was the lowest. It's been 61.8.

So, yeah, now's a good time to buy on the dip. Get rid of that. Fiat. Give the big middle finger to the big banks. And let's get into the book. Well, I think we should read our Badlands Boots before we get. Yeah, we have a couple, actually. Yeah. So first up, we have one with cats.

Ah, the RTC brings back fond memories of traversing the small towns to close down numerous savings and loans. However, I definitely felt like the bad guy for two to three years. I did that. It was an interesting time. Thank you so much and can't wait to see you in Deadwood. And then there was a boom digity one. Where did the boom diggity one go? Hold for processing.

Boom digity. No doubt. No digity. No doubt. Is it? Oh my gosh. I just had it. It's not showing.

up for me. I'm going to have to do this the old-fashioned way and type in slash book club. And we got AJC on May 14th. We already read that. I don't think there was one. The boot yet. No, I just had it. Hold on. Oh, May 31st. There it is. Yeah, May 31st from Boomdiggity. $200. I am catching up this weekend listening to the last three episodes. Love you both. And the great commentary, y'all are adding. Thanks for reading one of my favorite books. You are are very welcome and thank you so much for your support we really really do appreciate it big time big time thank you all right let's um where did my screen go probably right in front of your face no i accidentally closed it out because i'm a i'm a

i'm a dirt oh wait no i didn't close it out why is it not show there it is there it is i'm not durping today all right there we go ash take it away all right chapter five Nearer to the heart's desire. The 1944 meeting in Bretton Woods, New Hampshire, at which the world's most prominent socialists established the International Monetary Fund and the World Bank as mechanisms for eliminating gold from world finance, the hidden agenda behind the IMF World Bank revealed as the building of world socialism, the role of the Federal Reserve in bringing that about. It's not really a sentence.

It's kind of a collection of clauses. As we have seen, the game called bailout has been played over and over again in the rescue of large corporations, domestic banks, and savings and loan institutions. The pretense has been that these measures were necessary to protect the public. The result, however, has been just the opposite. The public has been exploited as billions of dollars have been expropriated through taxes and inflation. The money has been used to make up losses that should have been paid by the failing banks and corporations as the penalty for mismanagement and fraud. While this was happening in our hometown stadium, the same game was being played in the international arena. There are two primary differences.

One is that the amount of money at stake in the international game is much larger. Through a complex tangle of bank loans, subsidies, and grants, the Federal Reserve is becoming the lender of last resort for virtually the entire planet. The other difference is that instead of claiming to be protectors of the public, the players have emblazoned across the backs of their uniforms, saviors of the world. So true, man. Breton Woods, attack on gold. The game began at an international meeting of financiers, politicians and theoreticians. That's a weird word. theoreticitions.

Held in July of night, what's that? Theoreticians. I know. I had it right. I just doesn't feel right. Held in July of 1944 at the Mount Washington Hotel in Bretton Woods, New Hampshire. Officially, it was called the United Nations Monetary and Financial Conference, but is generally referred to today as simply the Breton Woods Conference. Two international agencies were created at that meeting, the International Monetary Fund, and its sister organization, the International Bank for Revenue.

Reconstruction and Development, commonly called the World Bank. The announced purposes of these organizations were admirable. The World Bank was to make loans to war-torn undeveloped nations, underdeveloped nations, so they could build stronger economies. The IMF was to promote monetary cooperation between nations by maintaining fixed exchange rates between their currencies. But the method by which these goals were to be achieved was less admirable. it was to terminate the use of gold as the basis of international currency exchange and replace it with a politically manipulated paper standard. In other words, it was to allow the governments to escape the discipline of gold so they could create money out of nothing without paying the penalty of having their currencies drop in value on world markets.

Of course it was. Prior to this conference, currencies were exchanged in terms of their gold value and the arrangement was called the gold exchange standard. This is not the same as the gold standard in which a currency is backed by gold. gold, it was merely that the exchange ratios of the various currencies, most of which were not backed by gold, were determined by how much gold they could buy in the open market. Their values, therefore, were set by supply and demand. Politicians and bankers hated the arrangement because it was beyond their ability to manipulate. In the past, it had served as a remarkably efficient mechanism, but it was a strict disciplinarian. As John Kenneth Galbraith observed, quote, the Bretton Woods arrangement sought to recapture the advantages of the gold standard currencies

that were exchangeable at stable and predictable rates into gold and thus at stable and predictable rates into each other. And this is, this it sought to accomplish while minimizing the pain imposed by the gold standard on countries that were buying too much, selling too little and thus losing gold. The method by which this was to be accomplished was exactly the method devised on Jekyll Island to allow American banks to create money out of nothing. without paying the penalty of having their currencies devalued by other banks. It was the establishment of a world central bank which would create a common Fiat money for all nations and then require them to inflate together at the same rate. There was to be a kind of international insurance fund which would rush that Fiat money

to any nation that temporarily needed it to face down a run on its currency. It wasn't born with all these features fully developed just as the Federal Reserve wasn't developed when it was born. That, nevertheless, was the plan, and it was launched with all the structures in place. The theoreticians who drafted the plan were the well-known Fabian Socialists from England, John Maynard Keynes and the Keynes, and the Assistant Secretary of U.S. Treasury, Harry Dexter White. The Fabian Society. The Fabians originally were an elite group of intellectuals who formed a

secret society for the purpose of bringing socialism to the world. Whereas communist wanted to establish socialism quickly through violence and revolutions, the Fabians preferred to do it slowly through propaganda and legislation. The word socialism was not to be emphasized. Instead, they would speak of benefits for the people, such as welfare, medical care, higher wages, and better working conditions. In this way, they plan to accomplish their objective without bloodshed and even without serious opposition. They scorned the communist not because they disliked their goals, but because they disagreed with their methods. To emphasize the importance of gradualism, they adopted the turtle as the symbol of their movement. The three most prominent

leaders in the early days were Sydney and Beatrice Webb and George Bernard Shaw. A stained glass window in the Beatrice Webb House in Surrey, England is especially enlightening. Across the top appears the last line, last line from Omar Kayam. Dear love, couldst thou and I with fate conspire to grasp this sorry scheme of things entire, would we not shatter it to bits and then remold it nearer to the heart's desire?

In the footnote on Keynes, it says, Keynes is often portrayed as having been merely a liberal, but for his lifelong involvement with the Fabians in their works, see Fabian Freeway, High Road to Socialism, the U.S. Beneath the line remold, it would be nearer to the heart's desire, the mural depicts Shaw

and Webb striking the earth with hammers. Across the bottom, the masses kneel in worship at a stack of books advocating the theories of socialism. Thumbing his nose at the docile masses is H.G. Wells, who, after quitting the Fabians, denounce them as the new Machiavellians. The most revealing component, however, is the Fabian crest, which appears between Shaw and web it is a wolf in sheep's clothing communist moles harry dexter white was america's chief technical expert in the dominant force at the conference he eventually became the first executive director

for the united states at the i mf an interesting footnote to the story is that white was simultaneously a member of the council and foreign relations and a and a memmmler is that how you say that Memler. Sorry, I was distracted by the chat. And a memler. M-E-M-L-J-E-R. I'm going to go with M-L-L-J-E-R. And a memler of a communist espionage ring in Washington while he served as Assistant Secretary of the Treasury. And even more interesting is that the White House... Mine says member, by the way. Oh, okay. It's a member of a communist espionage ring.

Okay, so it's just a typo then. I was like, I've never heard that word, but okay. and a member of a communist espionage ring in Washington while he served as assistant secretary of the treasury. And even more interesting is that the White House was informed of that fact when President Truman appointed him to his post. To his post, the FBI had transmitted to the White House detailed proof of White's activities on at least two separate occasions. Serving as the technical secretary at the Bretton Woods conference was Virginia's Frank Coe, a member of the same espionage ring to which White belonged. Coe later became the first secretary of the IMF. Thus, completely hidden from public view,

there was a complex drama taking place in which the intellectual guiding lights at the Bretton Woods Conference were Fabian Socialists and Communists. Although they were in disagreement over method, they were in perfect harmony on goal, international socialism. They were undoubtedly other reasons for communists to be enthusiastic about the IMF and the World Bank, despite the fact that the Soviet Union elected at the time not to become a member. The goal of the organization was to create a world currency, a world central bank, and a mechanism to control the economies of all nations. In order for these things to happen,

the United States would have, out of necessity, have to surrender its dominant position. In fact, it would have to be reduced to just one part of the collective whole. That fit in quite nicely with the Soviet plan. Furthermore, the World Bank was seen as a vehicle for moving capital from the United States and other industrialized nations to the underdeveloped nations, the very ones over which Marxists have always had the greatest control. They look forward to the day when we would pay their bills, it has all come to pass. Boy, it sure has. IMF structure and funding. The International Monetary Fund appears to be a part of the United Nations, much as the Federal Reserve system appears to be a part of the United States government, but it is entirely independent. It is

funded on a quota basis by its member nations, almost 200 in number. The greatest share of capital, however, comes from the more highly industrialized nations such as the Great Britain, Japan, France, and Germany. The United States contributes the most, about 20% of the total. In reality, that 20% represents about twice as much as the number indicates because most of the other nations contribute worthless currencies which no one wants. The world prefers dollars. One of the routine operations at the IMF is to exchange worthless currency for dollars so the weaker countries can pay their international bills. This is supposed to cover temporary cash flow problems. It is a kind of international ethnic, which rushes money to a country that has gone bankrupt so it can avoid

devaluing its currency. The transactions are seldom paid back. Although escape from the gold exchange standard was the long-range goal of the IMF, the only way to convince nations to participate at the outset was to use gold itself as a backing for its own money supply, at least as temporary expedient. As Keynes explained it, quote, I felt that the leading central banks would never voluntarily relinquish the then forms of the gold standard, and I did not desire a catastrophe sufficiently violent to shake them off involuntarily. The only practical hope lay therefore in a gradual evolution in the forms of a managed world currency, taking the existing gold standard as the

starting point. That is from the collected writings of John Maynard Keynes. It was illegal for American citizens to own gold at that time, but everyone else in the world could exchange their paper dollars for gold at a fixed price of $35 per ounce. That made it the de facto international currency because unlike any other at the time, its value was guaranteed. So at the outset, the IMF adopted the dollar as its own international monetary unit. Paper gold, but the Fabian Turtle was crawling inexorably toward its destination. In 1970, the IMF created a new monetary unit called the SDR, or special drawing right. The media optimistically described it as paper gold, but it was pure bookkeeping wizardry

with no relationship to gold or anything else of tangible value. SDRs are based on credits, which are provided by the member nations. These credits are not money. They are merely promises that the government will get the money by taxing their own citizens should the need arise. The IMF considered these to be assets, which then become the reserves from which loans are made to other governments. As we shall see in Chapter 10, this is almost identical to the bookkeeping sleight of hand that is used to create money out of nothing out the federal reserve system. Dennis Turner cuts to the garbage, quote, SDRs are turned into loans to third world nations by the creation of checking accounts in the commercial or central banks of the member nations in the name of the debtor governments. These bank accounts are created out of thin air. The IMF creates dollars,

francs, pounds, or other hard currencies and gives them to a third world dictator with inflation resulting in the country where the currency originated. Inflation is caused in the industrialized nations while wealth is transferred from the general public to the debtor country. And the debtor doesn't repay. End quote. When the IMF was created, it was the vision of Fabian socialist John Maynard Keynes that there would be a World Central Bank issuing a reserve currency called the Bankor to free all governments from the discipline of gold. With the consent of the SDRs, the IMF had finally begun to fulfill that dream. Gold is finally abandoned. But there was still an obstacle. As long as the dollar was the primary currency used by the IMF, and as long as it was

redeemable in gold at $35 per ounce, the amount of international money that could be created would be limited. If the IMF were to function as a true World Central Bank with unlimited issue, the dollar had to be broken away from its gold backing as a first step towards replacing it completely with a banker, an SDR, or something else equally, free from restraint. On August 15, 1971, Nixon signed an executive order declaring that the United States would no longer redeem its paper dollars for gold. So ended the first phase of the IMF's metamorphosis. It was not yet a true central bank because it could not create its own world currency. It had to depend on the central banks of its member nations to provide cash and so-called credits. But since these banks themselves could create as

much money as they wished, from now on there would be no limit. The original purpose had been to maintain fixed rates of exchange between currencies, but the IMF has presided over more than 200 currency devaluations. In private industry, a failure of that magnitude might be cause for going out of business, but not in the world of politics. The greater the failure, the greater the pressure to expand the program. So when the dollar broke loose from gold and there was no longer a ready standard for measuring currency values, the IMF merely changed its goal and continued to expand its operation. The new goal was to overcome trade deficits. Trade deficits. The topic of trade deficits is a favorite among politicians, economists, and

talk show hosts. Yep. Everyone agrees they are bad, but there is much disagreement over what causes them. Let's have a try at it. A trade deficit is a condition that exists when a country imports a greater value of goods than it exports. In other words, it spends more than it earns in international trade. This is similar to the situation of an individual who spends more than he earns. In both cases, the process cannot be sustained unless one, earnings are increased, two, money is taken out of savings, three, assets are sold, four, money is counterfeited, or five, money is borrowed. Unless one of these occur, the individual of the country has no choice but to decrease spending. Guess which one we chose, Ash? Number five, money is borrowed.

Increasing one's earnings is the best solution. In fact, it is is the only solution for the long haul. All else is temporary at best. Tell that to the money printers. An individual can increase his income by working harder, smarter, longer. A country does it the same way, but it cannot happen unless private industry

is allowed to flourish in a system of free enterprise. The problem with this option is that few politicians respect the dynamic power of the free enterprise system. Their world is built upon political programs in which the laws of the free market are manipulated to achieve politically popular goals. Fact. They made, yeah, this whole thing,

is this is a very important. This is a very important subsection right here. They may desire the option of increasing the nation's income by increasing its productivity, but their political agenda prevents that from happening. The second option is to obtain extra money out of savings, but there are virtually no governments in the world today that have any savings. Their debts are liability and liabilities exceed assets by a large margin. Likewise, most of their industries and their citizens are in a similar position. Their savings already have been consumed by the government. The third option, the selling of assets, is not available for most countries. By assets, we mean tangible items other than merchandise, which is normally for sale. Although these two are assets in the broad meaning in accounting

methodology, they are classified as inventory. The only government asset that is readily marketable is gold, and few other countries today have a stockpile from which to draw. as Trump is calling for us to finally audit the Fort Knox. Do it. Even in those cases, what little they have is already owed to another government or a bank. As for private assets, nations can for a while sell those to foreign buyers and offset their negative trade balances. That is what has been happening in the United States for many years as the office building, stocks, factories and entire companies have been sold to foreign investors. But the fact remains that the nation,

is still spending more than it earns. And that process cannot continue indefinitely. I mean, this was 30 years ago. Foreign ownership and control over industry and commerce also create sociological and political problems. Underdeveloped, Nate countries do not have to worry about any of that. However, because they have a few private assets to sell. They have few. They have few.

I want to, before we get to the next section, I want to read the footnote on the other page. or something else I wanted to say as well. It'll come back to me. So on the line, they may desire the option of increasing the nation's income by increasing its productivity, but their political agenda prevents that from happening. The footnote I have is, it is the author's opinion that it's time to get the politicians wearing Uncle Sam suits off our backs, which is easier said than done because Americans still like their protectionist subsidies,

tariffs to protect the businessman, minimum wages and compulsory unionism to protect the worker, ethnic quotas in hiring to protect the underdog, cradle to the grave insurance programs, unemployment benefits, disability compensation, extreme environmental and safety measures, regardless of cost. Free enterprise can and will produce all of these benefits in order to compete for buyers and employees alike. But as long as these measures are compulsory and chosen on the basis of political popularity, without regard to the economic consequences, American industry will never be able to recover.

And then none of the illusory benefits will remain. And Brian, you said, you know, well, when he was talking about, you know, this process cannot continue indefinitely. Us spending more than we earn cannot continue indefinitely. And you said, oh, it's been 30 years. Yeah. And we were being told by the globalists that we need a great reset because it cannot continue indefinitely.

Well, I mean, when the money's fake, as long as the people put up with it, they can continue it. Yeah. They can continue borrowing as long as you mean fake or fraudulent. Sorry. Well, no. No, in this case, fake. It's the same synonyms, Brian. I know, I know.

I don't want to hear it. I know you're on alpha side on that thing. I don't want to hear it. But in this case, it's literally fake. It's not even fraudulent. Like, fraudulent means you intended to make it and it's a fake. This is just, it's not real at all. like at at all real but but you're so you're saying without intent is that your distinction

on these terms fraud and fred and fredulent and fake is there is it intent that determines which is what well yeah so fake if it's fraudulent it's always fake but if it's always if it's fake it's not always fraudulent oh that's fair yeah um however when we're talking about the world the world economic system i'm going to go with fraudulent yeah you can i can All right. The counterfeit option. The counterfeit option is available only if a country happens to be in the unique position of having its currency accepted as the medium of international trade, as has been the case for the United States. In that event, it is possible to create money out of nothing and other nations have no choice but to accept it. Thus, for years, the United States has been able to spend more money than it earned in trade by having the Federal Reserve create whatever it needed. When the dollar was separated entirely from gold in 1971, it ceased being the official IMF world currency and finally had to compete with other currencies, primarily the mark and the yen, on the basis of its relevant merit. From that point forward, its value increasingly became discounted. Nevertheless, it was still the preferred medium of exchange.

Also, the U.S. was one of the safest places in the world to invest one's money. but to do so, one first had to convert his native currency into dollars. These facts gave the U.S. dollar greater value on international markets than it otherwise would have merited. So in spite of the fact that the Federal Reserve was creating huge amounts of money during this time, the demand for it by foreigners was seemingly limitless. The result is that America has continued to finance its trade deficit with Fiat money, counterfeit, if you will, a feat which no other nation in the world could hope to accomplish. We have been told that our nation's trade deficit is a terrible thing and that it would be better to weaken the dollar to bring it to an end.

Weakening the dollar is a euphemism for increasing inflation. In truth, America is not hurt by a trade deficit at all. In fact, we are the benefactors while our trading partners are the victims. We get the cars and the TV sets while they get the funny money. We get the hardware. They get the paperware. There is a dark side to the exchange, however. As long as the dollar remains in high esteem as a trade currency,

America can continue to spend more than it earns. But when the day arrives, as it certainly must, when the dollar tumbles and foreigners no longer want it, the free ride will be over. When that happens, hundreds of billions of dollars that are now resting in foreign countries will quickly come back to our shores as people everywhere in the world attempt to convert them

into yet more real estate factories and tangible products, or sats, maybe, right? and to do so quickly as possible, as quickly as possible before they come even more worthless. As this flood of dollars bids up prices, we will finally experience the inflation that should have been caused in years past, but which was postponed because foreigners were kind enough to take dollars out of our economy in exchange for their products. The chickens will come home to roost, but when they do, it will not be because of the trade deficit. It will be because we were able to finance the trade deficit with Fiat money created by the Federal Reserve. If it were not for that, the trade deficit could not have happened.

Back to the main topic, which is the five methods by which a trade deficit can be paid. Through the process of elimination, the fourth option of borrowing is where the action is today for most of the world. That is where the IMF positioned itself in 1970. Its new mission was to provide loans to countries, loans so countries can continue. to spend more than they earn, but to do so in the name of overcoming trade deficits. IMF loans, doomed but sweet. These loans do not go into private enterprises where they have a chance of being turned for profit.

They go into state-owned and state-operated to industries which are constipated by bureaucracy and poisoned by corruption doomed to economic failure from the start. They consume the loans with no possibility of repayment. Even the interest quickly becomes too much to handle. which means the IMF must, IMF must fall back to the reserves, back to the assets, back to the credits,

and eventually back to the taxpayers to bail them out. Whereas the International Monetary Fund is evolving into a World Central Bank, which eventually will issue a world currency based on nothing, its sister organization, the World Bank, has become its leading agency.

Acting as savior of the world, it seeks to aid the underdeveloped nations to feed them, hungry and to bring a better life to all mankind. Failed at its stated objective, FYI. In pursuit of these humanitarian goals, it provides loans to governments at favorable terms, usually at rates below market for terms as long as 50 years and often with no payments due until after 10 years.

Funding for these loans comes from member states in the form of a small amount of cash, plus promises to deliver about 10 times more if the bank gets into trouble. The promises described as calipable, calibable capital. It's a small word on my thing. It's hard to read. Constitute a kind of F-Dick insurance program, but with no pretense at maintaining a reserve fund. In that sense, it is more honest than the real F-Dick, which does maintain the pretense, but in reality is based on nothing more than a similar promise. Based upon the small amount of seed money plus the far greater amount of credits and promises from governments of the industrialized countries, the world,

bank is able to go into the commercial loan markets and borrow larger sums of money at extremely low interest rates. After all, the loans are backed by the most powerful governments in the world, which have promised to force their taxpayers to make the payments if the bank should get into trouble. It then takes these funds and relends them to the underdeveloped countries at slightly higher rates, making a profit on the arbitrage. The unseen aspect of this operation is that the Money it processes is money which otherwise would have been available for investment in the private sector or as loans to consumers. It siphons off much needed development capital for private industry, prevents new jobs from being created, causes interest rates to rise, and retards the economy at large. Yeah, I mean, I don't think anybody can disagree with the economy being retarded.

Utterly retarded. The hidden agenda, world socialism. Although most of the policy statements of the World Bank deal with economic issues, a close monitoring of its activities reveal a preoccupation with social and political issues. This should not be surprising, considering that the bank was perceived by its founders as an instrument for social and political change. The change which was designed to bring about was the building of world socialism, and that is exactly what it is accomplishing today. Yeah, I mean, the UN Sustainable Development Goals,

is your answer there. The hidden agenda becomes crystal clear in the nature of what the bank calls sectoral loans and structural adjustment loans. In the first category, only part of the money is to be used for the costs of specific projects, while the rest goes to support policy changes in the economic sector. The second group, all of the money is for policy changes and none of it is for projects. In recent years, almost half of the loans to underdeveloped countries have been in the that category. What are the policy changes that are the object of these loans? They add up to one thing,

the building of world socialism. As the Fabians had planned it, the word socialism was not to be used. Instead, the loans are issued for government hydroelectric projects, government oil refineries, government lumber mills, government mining companies, and government steel plants. It is delivered from the hands of politicians and bureaucrats into the hands of other politicians and bureaucrats. When the money comes from government, goes to government, and is ministered by government, the result would be the expansion of government. Here's an example. One of the policy change is often required by the World Bank as a condition of granting a loan is that the recipient country must hold down its wages. The assumption is that the government has the power and rightfully should have the power to set wages.

In other words, one of the conditions of its loan is that state must be omnipotent. Paul Roberts holds the William E. Simon Chair of Political Economy at the Center for Strategic and International Studies in Washington. Writing in Business Week, he says, quote, The entire development process has been guided by the belief that reliance on private enterprise and equity investment is incompatible with economic and social progress. In place of such proven avenues of success, development planning substituted loans and foreign aid, so that the governments of the LDCs, less developed countries, could control, economic activity in keeping with the plans drawn up by experts. Consequently, economic life in the LDCs was politicized from the start. By endowing governments with

extensive control over their economies, the U.S. set up conditions exactly opposite to those it required for economic growth. And quote, Ken Ewart explains further that the conditions imposed by the fund are seldom free market oriented. He says, quote, the fund concentrates on macro policies such as fiscal and monetary policies or exchange rate and pays little attention to fundamental issues like private property rights and freedom of enterprise implicit is the belief that with the proper macro management and any with the proper macro management any economic system is viable even more important it has allowed governments the world over to expropriate the wealth of their citizens more efficiently through the hidden tax of inflation while at the same time aggrandizing their own power

There is little doubt that the IMF is an influence for worldwide socialism, end quote. An important feature of the structural adjustment loans is that the money need not be applied to any specific development project. It can be spent for anything the recipient wishes. That includes interest payments on overdue bank loans. Thus, the World Bank becomes yet one more conduit from the pockets of taxpayers to the assets of commercial banks, which have made risky loans to third world countries. Austerity measures and scapegoats. Not every measure advocated by the IMF and World Bank is socialistic.

Some of them even appear to be in support of the private sector, such as the reduction of government subsidies and welfare. It may include tax increases to reduce budget deficits. These policy changes are often described as to the press, in the press, as austerity measures, and they are seen as hard-nosed business decisions to salvage the failing economy, of underdeveloping countries. But as the wolf and sheep's clothing said to Little Red Riding Hood, quote, all the better to fool you with, my dear.

These austerity measures are meatly rhetoric. They got mostly mostly really. Yeah, I think it's supposed to be mostly are mostly rhetoric. It's meatly on this one. The borrowing nations usually ignore the conditions with impunity and the World Bank keeps the money coming anyway. It's all part of the game. Nevertheless, the quote unquote structural adjustment conditions provide a scapegoat for local politicians who can now place the blame for their nation's misery on big, bad, quote unquote, capitalist from America and the IMF. People have been taught that it is government role to provide for their welfare, their health care, their food, and housing, their jobs and retirement.

Such people will not be happy when they hear that these rights are being threatened. So they demonstrate in the streets and protest. They ride in the commercial sections of town so they can. steal goods from stores. So prophetic. And they thronged to the banner of leftist politicians who promised to restore or increase their benefits as described by Insight Magazine, quote, national strikes, national strikes, riots, political upheavals, and social unrest in Argentina, Bolivia, Brazil, Ecuador, Egypt, Haiti,

Liberia, Peru, Sudan, and elsewhere have at various times been attributed to IMF austerity programs. Some came to the fund with domestic trouble already brewing and seized on the fund as a convenient scapegoat, end quote. Quite true. An honest reading of the record shows that the IMF, far from being a force for austerity in these countries, has been an engine of socialist waste and a fountain of abundance for the corrupt leaders who rule. Holy crap. Yeah. Financing corruption and despotism. Nowhere is this pattern more blatant than in Africa.

Julius Nieri, the dictator of Tanzania, is notorious for his villageization program in which the army has driven the peasants from their land, burned their huts, and loaded them like cattle into trucks for relocation

to government villages. The purpose is to eliminate opposition by bringing everyone into compounds where they can be watched and controlled. Meanwhile, the economy staggers, farms have gone to weed and hunger is commonplace, yet Tanzania has received more aid per capita from the World Bank than any other nation. In Uganda, government security forces have engaged in mass detention, torture, and killing of prisoners.

The same is true under the terrorist government in Zimbabwe, yet both regimes continue to be the recipients of millions of dollars in World Bank funding. Zimbabwe, formerly Rhodesia, is a classic case. its independence, the leftist government nationalized, confiscated, many of the farms previously owned by white settlers. The most desirable of those lands became occupied by the government's senior ruling party officials, the rest were turned into state-run collectives. They were such miserable failures that the workers on these farmlands were themselves soon begging for food. Not daunted by these failures, the socialist politicians announced in 1991 that they were

going to nationalize half of the remaining farms as well. And they barred. the courts from inquiring into how much compensation would be paid to their owners. The IMF was represented in Zimbabwe at the time by Michael Camdissus, the governor of the Central Bank of France, and former finance minister Francois Mitterin's socialist government. After being informed of Zimbabwe's plan to confiscate additional land and to resettle people into work on those lands, Camdessus agreed to a loan valued at 42 billion Rans with full knowledge that much of it would be used for the resettlement project. Perhaps the worst violations of human rights have occurred in Ethiopia under the Marxist regime of Mangistu

Haile Mariam. No idea if I got that right. The famine of 1984 to 1985, which threatened the lives of millions of people, was the result of government nationalization and the disruption of agriculture. Massive resettlement programs have torn hundreds of thousands of people from their privately owned land in the north and deported them to concentration camp villages in the south, complete with guard towers. A report by a French voluntary medical assistance group, Doctors Without Borders, reveals that the forced resettlement program may have killed as many people as the famine itself. Dr. Rony Brahman, director of the organization, describes their experience, quote, armed militiamen burst into our compound, seized our equipment, and menaced our volunteers.

Some of our employees were beaten and our trucks, medicines, and food stores were confiscated. We left Ethiopia, branded as enemies of the revolution. The regime spoke the truth. The atrocities committed in the name of Mangistu's master plan did make us enemies of the revolution. Instigators, maybe. What? Instigators of the revolution. No, the doctors without borders.

The doctors without borders are, they're saying, are. enemies of what they were doing. Yeah, they're, they're, they're, uh, an arm of USAID. All in the same concept. Yeah. heavily infiltrated. Been around forever. Yeah. And we're talking what year year at 1991? Yeah. 84 and 85 actually. Financing famine and genocide. In the 1980s, the world was saddened by photographs of starving children in Ethiopia, but what the West did not realize was that Sally, what was her name, Sally Weathers? Brothers. Dothers.

Dollar Day, man. For a dollar day, you can feed the African children. Remember starving Marvin on South Park? She'd go like, we can feed the kids. He'd be out there. Marvin. In the 1980s, the world was saddened by photographs of starving children in Ethiopia. But what the West did not realize was that this was a planned famine.

It was modeled after Stalin's starvation program in the Ukraine in the 1930. 30s and Mao's starvation of the peasants in the 40s. Its purpose was to starve the population in total submission to the government, for it is the government which decides who will eat and who will not. Yet right up to the time that Mangistu was overthrown, the World Bank continued to send him hundreds of millions of dollars, with much of it going specifically to the Ministry of Agriculture, the very agency in charge of the resettlement program.

In the 1970s, the same story unfolded in communist Vietnam, There were resettlement programs for civilization, concentration camps, atrocities, and tens of thousands of dissidents escaping to the sea only to drown and overcrowded leaky boats. Throughout it all, the regime was generously funded by the World Bank. Laos has jailed thousands of political prisoners. Syria has massacred 20,000 members of its opposition. Indonesia has uprooted several million people from their homeland in Java. the San D-Sandistas in Nicaragua murdered their opposition and terrorized the nation into submission. Poland, while a puppet state of the Soviet Union, brutally suppressed its trade union movement,

China massacred its dissident students and imprisoned its religious leaders, and the former Soviets slaughtered civilians in Afghanistan while conducting a relentless espionage war against the entire free world. Yet these regimes have been the recipient of literally billions of dollars from the World Bank. How can the bank's managers continue in conscience to fund such genocidal regimes? Part of the answer is that they are not permitted to have a conscience. David Dunn, head of the bank's Ethiopia desk, explained, quote, political distinctions are not something our charter allows us to take into account. The greater part of the answer, however, is that all socialist regimes have the potential for genocide,

and the bank is committed to socialism. The brutalities of these countries are all in a day's work for serious socialists, who view them as merely unfortunate necessities for the building of their utopia. Lenin said you cannot make an omelet without cracking a few eggs. George Bernard Shaw, one of the early leaders of the Fabian socialist movement, expressed it this way. Quote, under socialism, you would not be allowed to be poor. You would be forcibly fed, clothed, lodged, taught, and employed, whether you liked it or not.

If it were discovered that you had not character and industry enough, to be worth all this trouble, you might possibly be executed in a kindly manner, but whilst you were permitted to live, you would have to live well. So that footnote is George Bernard Shaw is the intelligent woman's guide to socialism and capitalism. And whenever you hear a quote from George Bernard Shaw, usually the rebuttal that you get is, oh, he was a playwright, it's fiction, it's, you know, He didn't really mean it. So we can just dismiss everything Bro said because it was creative writing. You want to pause right here real quick and hit our final two sponsors?

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And then let's get some ghost action. A long, long time ago, a writer went to a dangerous cave. Because he was on him in a picture. More like he smelled like an adventure. But the cave was protected by spiders and lizards. No, it was snakes. Snakes, why did it have to be snakes? Whatever it was, the ranger wasn't scared of it because it was ghost.

The lotion ranger. Then he found the golden. The old one. Ghost had exactly one second to switch it. Or the whole cave exploded. It was an important artifact and out of the only. and every house. Visit softdisclosure.com and use promo.

Understand it's power now. I know it's important artifact. I love his earnest face as he is a child. So good. That is not the last that we have from the lotion raider. They're going to be sequels. Oh boy. Oh, boy.

Are we going to have a temple of? Blue? I'm not going to say. I'm not going to say what the concept is. because it's so good. And we were talking about this Ghost and I on Daily yesterday. And I was like, it's going to be sequels. And, you know, one thing that I said was Green Star, you can tell him what you want.

Yeah, I heard that. But you never know what you're going to get. And Green Star messaged me after that. And he's like, hey, man, I was working on Locien Rader before I got the concept from Ghost, which is really kind of cool because they're very similar. and so it does sound like he is going to do this other concept as well and it's going to be delightful everybody's going to love it fan fantastic stuff so i think brian that we there's this next section is a reason to abolish the federal reserve it's just two short paragraphs i think we stop there

it seems like a bit of a transition point in the chapter okay reason to abolish the federal reserve there are many the top echelon at the world bank are brothers under the skin to the socialist dictators with whom they do daily business. Under the right circumstances, they could easily switch roles. What we have seen is merely a preview of what can be expected for the entire world if the envisioned new world order becomes operational. Spoiler alert. It did. The IMF World Bank is the protege of the Federal Reserve.

It would not exist without the flow of American dollars and the benevolence of American leadership. The Fed has become an accomplice in the support of totality. regimes throughout the world. As stated in the beginning of this study, that is one of the reasons it should be abolished. It is an instrument of totalitarianism. I think one thing, too, that is, you know, just notable for folks is that the IMF is opposed to Bitcoin. like i remember when they did their their loan shortly after havier mleigh got in in

argentina they did their loan it was conditional upon not being in bitcoin rem make you buy bitcoin i was about to say more rea dot tv slash river badlands media dot tv slash river more reason to buy bitcoin yeah all right guys uh that will do it for badlands book club today we will pick up chapter 5 next week and uh tune in if you've got your virtual or in person garc tickets tune in coming up here five minutes yeah we'll see you guys in cheers where my oh i don't have i had the drug outro from alpha today nice what are you thank you so much for joining us and don't forget to hit the thumbs up on this video and a special thank you to all of our advertising partners Please remember to shift your dollars to support those businesses that support Badlands Media.