IMF - INTERNATIONAL MONETARY FUND
PROMOTING SUPERHEATED ECONOMICS - Having allowed the economies of so many countries to reach critical levels of debt based on the Alice in Wonderland printing press, almost all borrowers will come to realize that lending has been based on unsustainable principles, making those who thought they were doing well, potentially bankrupt in real terms as the world's population increases - and food becomes the common denominator.
It is it important to maintain debt at sustainable levels in dealing with climate change and food shortages arising from desertification and over fishing, where the IMF's clock was not showing the correct time. Borrowers and creditors need to address rising debt vulnerabilities and maintain debt sustainability, amidst the harsh truths now being revealed.
The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of: "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."
That was all based on a lie, on currency that could never be redeemed: "I promise to pay the bearer on demand .." When of course the Gold Standard was abandoned to allow development above anything resembling solid reserves, like food on the tables for every person on the planet.
Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. As of 2016, the fund had SDR477
billion (about $666 billion).
THE G20 HEADS OF STATE (2020) A - Z
There are a number of organizations that exist with a claim to promoting world peace and societal projects for the good of mankind. These include the United Nations, the World Bank, the International Monetary Fund (IMF) and many smaller concerns that grant aid suitable projects. In addition there are incentives by most countries to promote clean energy and blue growth, all aimed at keeping the status quo.
DEBT SUSTAINABILITY FRAMEWORK
SIX (SUGGESTED) STEPS TOWARD A COOLER PLANET
1. TRANSPORT: Phase out polluting vehicles. Governments aim to end the sale of new petrol, and diesel vehicles by 2040 but have no infrastructure plan to support such ambition. Such infrastructure should exceed the performance of fossil fuel filling stations, prolong EV battery life and provide power grids with a measure of load leveling. Any such system should seek to obviate the provision of millions of fast charge points to include fuel cell cars, where implementation could otherwise prove to be a logistical nightmare. This may involve international agreement as to energy storage format and statute to steer OEM vehicle makers to collaborate as to future proofing, to include green hydrogen.
Marine transport can be carbon neutral given the right policy incentives, with phased transition in specific stages such as not to unduly penalize present investment in LNG shipping and other recent MARPOL compliant IC powered vessels. Future cargo vessel should be at least in part powered by renewable solar and/or wind energy, on the road to zero carbon, making allowances for technology catch-up. A scrappage scheme might encourage fleet operators to accelerate shipping upgrades, and a fund for radical innovation that would not otherwise qualify under in-situ programmes (such as Horizon Europe) might be introduced - with fast-track, reduced, form-filling and open-loop decision making, such that applications may be tweaked rather than struck out.
2. RENEWABLES: Renewable energy should replace carbon-based fuels (coal, oil and gas) in our electricity for homes, factories, heating and transport. Coal and nuclear power plants should be phased out.
3. HOUSING: On site micro or macro generation is the best option, starting with new build homes that are both affordable and sustainable by design to replace crumbling housing stocks. Encourage building in timber to provide carbon lock from a renewable natural resource. Planning policies should be updated to outlaw unsustainable development, with harsh financial penalties for kleptocratic local authorities, especially those with a history of corrupt practices (from historic similar fact evidence files).
4. AGRICULTURE: We need to grow more trees to absorb carbon emissions from a growing population, unregulated/unrestricted air travel. New homes should be timber where practical as a priority. We should promote reductions in food waste and the eating of foods that use less energy to produce. Educate children on these matters in schools and via campaigns such as no meat Mondays, should be part of ordinary study. Polluted fish from fisheries, might be replaced with fish farmed by aquaculture inland, rather than risk carcinogens from our seas.
5. INDUSTRY: Factories should be aiming for solar heating and onsite renewable energy generation. EV parking and even service facilities should be part of new industrial estates as part of any building permissions - with subsidies or tax reductions as incentives to property developers.
6. POLITICS: - National governing bodies need to adopt rules to eliminate administrative wastages, to include scaling down spending on (showboat) war machines, increasing spend on educating the public and supporting sustainable social policies that mesh with other cultures. This includes fostering policies and making funds available to close links in the technology chain to make up for lost time. Kleptocratic empire building must cease in the search for natural equilibrium.
International aid should not be provided to regions that cannot support life naturally. Land reclamation should be outlawed, and a solid currency system based on the ability of the planet to provide food for a growing population, such as a $Food Standard, such as to index link food production (security) to prevent unrestricted (artificial) money lending and superheated economies. There should be a policies of zero trust and full accountability.
Taxes collected from citizens in any form should only be spent on services they are collected for. Road Fund Licences, for road building, National Health Insurance Contributions, for health facilities, etc. The spend of other taxes such as Income and Value Added, should be fully accounted for to prevent slush fund payouts, for defence contracts, for example.
All policies should be SDG and Human Rights compliant, with exceptions needing to be openly qualified and justified, with effective remedy (right of challenge) to a higher national tribunal/court at every level, and to the international court of justice, where a national remedy conflicts. A lack of transparency and accountability would be one of the main reasons for challenge - because such decision making is highly suspect.
IMF Europe Office in Paris and Brussels
LINKS & REFERENCE
2020 - Was another year of non-action, in fact no talks at all for the big cheeses to squabble and cloud issues for all the smaller nations that are being exploited. Can we expect anything of value to come out of the 2021 Highland fling?
Interestingly, the Covid 19 pandemic may have the effect of braking the economies of many nations - hence slowing global warming. This should be a lesson to all politicians.
This website is provided on a free basis as a public information service. Copyright © Climate Change Trust 2021