Tag Archives: IMF

Video by the IMF Resistance Network

A well-done, simple video advertising the upcoming protests against the International Monetary Fund, put together by the IMF Resistance Network, who I don’t really know anything about. They are calling for protests on October 9th to 11th, 2010, in Washington, DC (where the IMF is headquartered).

The IMF is, in short, an institution pushing global capitalism as the solution to all the world’s problems. Ironic, of course, to promote capitalism–an economic system intentionally engineered to siphon resources, money, and power into the hands of a small minority of people–as the solution to things like poverty. The IMF has an absolutely horrid track record as well. This is the kind of stuff that led to the anti-globalization movement of a decade ago, the same movement that largely defeated the consensus that neoliberalism was an effective system of global governance. Of course, as an anarchist, I’m rather against the idea of global governance at all.

From the IMF Resistance Network:

The International Monetary Fund and the World Bank have a well-deserved reputation for being the loan sharks of global capitalism. Both institutions are infamous for forcing poor countries in the global south to ruin their own economies in order to further enrich Western corporations. Nations who decline to borrow money at exorbitant interest rates and then beggar their populations to pay it back (or worse, default on their existing debt), are subjected to trade sanctions that have been described as “the economic equivalent of nuclear war.”