The hierarchy of the international aid organizations claims to be aware of the problem and on top of it. For example, in a press release from the World Bank itself, dated December 19, 2013, World Bank President Jim Yong Kim states that corruption is “Public Enemy Number One” in Developing countries.
“We will never tolerate corruption,” Kim goes on to say, “and I pledge to do all in our power to build upon our strong fight against it.”
That’s all well and good, but what happens if the corruption is closer to home? In other words, if there are, as we suggest, corrupt elements operating within the highest echelons of the World Bank and other such aid organizations? What then? Which organization would have the nous, or wherewithal, or, for that matter, the will to root out corruption within such charitable “corruption-busting” institutions?
The World Bank has much to answer for we suspect.
A 2012 Forbes article headlined ‘World Bank Spins Out Of Control’ calls that organization “one of the world’s most powerful institutions – charged with saving the world’s poor – but also one of its most dysfunctional”.
The enlightening article also refers to the World Bank as “an endlessly expanding virtual nation-state with supranational powers,” and states there is “little oversight by the governments that fund it”.
The article goes on to say that “FORBES has also discovered a whole layer of bank officials who have learned how to game the system or expand their influence through its constantly revolving doors. It’s not unlike the way that U.S. officials retire and then go to work for the contractors they associated with while in government service”.
A 2013 article by Alex Newman, foreign correspondent for The New American, was even more critical of the World Bank and its lack of ability to stamp out corruption. It reads, in part, as follows:
“A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve.
“The network has seized control of the media to cover up its crimes, too, she explained. In an interview with The New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts”.
The article continues, “Hudes pointed out that a small group of entities — mostly financial institutions and especially central banks — exert a massive amount of influence over the international economy from behind the scenes. ‘What is really going on is that the world’s resources are being dominated by this group…At the heart of the network are 147 financial institutions and central banks — especially the Federal Reserve, which was created by Congress but is owned by essentially a cartel of private banks…This is a story about how the international financial system was secretly gamed, mostly by central banks — they’re the ones we are talking about…The central bankers have been gaming the system. I would say that this is a power grab’.”
Hudes is also quoted as saying the cartel of elite international banksters use the Fed and major private banks, in collaboration with other financial institutions such as The World Bank and the BIS (Bank for International Settlements), to complete shady financial deals, manipulate gold prices and conduct various other monetary deceptions.
Unfortunately, such articles represent just a tiny fraction of the reported and/or confirmed corruption cases occurring year after year within the international aid organizations.
And yet, there has been no serious investigation or detailed audit of them just as there has never been a proper audit of the privately-owned US Federal Reserve.
Could that be because the same leaders charged with keeping such financial institutions honest are the very people who are making trillions of dollars off concealing the ongoing corruptions?
T.B.C.
Morcan Books & Films 