Saturday, July 20, 2019

Global Financial Institutions Used as “Unconventional Weapons” by the US Military

WikiLeaks recently highlighted a leaked military manual in which the US Army disclosed that major global financial institutions are employed as unconventional weapons during conflicts as well as full-blown war. Some of the financial institutions include the International Monetary Fund (IMF), Organization for Economic and World Bank.

The document, titled “Field Manual (FM) 3-05.130, Army Special Operations Forces Unconventional Warfare,” was recently highlighted by WikiLeaks on Twitter to shed light on the recent happenings in Venezuela as a result of the economic warfare waged against the country by the United States.

The tweets posted by WikiLeaks drew attention to a section of the document titled “Financial Instrument of U.S. National Power and Unconventional Warfare.” This section explained that the United States government applies “unilateral and indirect financial power through persuasive influence to international and domestic financial institutions regarding availability and terms of loans, grants, or other financial assistance to foreign state and non-state actors,” and categorically mentions The Organization for Economic Co-operation and Development (OECD), IMF and the World Bank, including Bank for International Settlements (BIS), as the instruments through which the US accomplishes such goals

Not Entirely Independent

The revelation made by the manual about the involvement of the US in matters concerning global financial institutions is not entirely new as analysts have said the same thing for decades.

When a closer look is taken at the IMF and the World Bank, the structure and funding of the two institutions begin to show that they might not be completely independent. Take for instance the World Bank; it is located in Washington, and its president has always been a citizen of the US chosen by the US president. Never has this method of selection been rejected by the World Bank’s Board of Governors In all its history.

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It was recently reported that President Donald Trump made a nomination for the leadership of the World Bank in the person of David Malpass, a former Bear Stearns economist.

Guaidó Requests for Funding from the IMF

The “interim president” of Venezuela, Juan Guaidó, who is currently enjoying the backing of the US, requested IMF funds to finance his parallel government.

The significance of this request is that Guaidó might succeed in bringing the country under the control of the US controlled financial power again, in addition to his plans to privatize Venezuela’s massive oil reserves. Recently, the Grayzone Project noted that:

“Venezuela’s previous elected socialist president, Hugo Chávez, broke ties with the IMF and World Bank, which he noted were “dominated by US imperialism.” Instead Venezuela and other left-wing governments in Latin America worked together to co-found the Bank of the South, as a counterbalance to the IMF and World Bank.”

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