Something we often forget is that all central and international banks are evil
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Eugene Black ran the World Bank after being VP of Chase. I'm sure you know what all of this means, essentially. Interestingly though, the IMF&WB were chartered to be a kind of perpetual Marshall Plan to the world, as they were drawn up by sincere pinkos. [...]
They were given generous reserves and told to have at it but 'more rational' heads prevailed (McCloy and Black). They sat on the WB&IMF making sure no one qualified for any loan, down-talking applicants to infinitesimal offers of the original loans. [...]
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After which point the applicants, exasperated, would just walk away. In this way they secured the loan market for private creditors (VP of Chase -> Director of WB) in the post-WWII era. Per Jacobsson on the other hand is more mysterious to me though the thrust is similar [...]
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Both men, in simulating a kind of faux-gold-standard (as with Jacobsson and BIS) or orchestrating a withholding of credit, effected a kind of false limitation on development, an imposed scarcity, the result of which is [...]
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