posted on Mar, 28 2013 @ 09:57 AM
In public statements, the BRICS claim that this bank will compliment the IMF, but backstage, they had often criticised the IMF, something which is
felt by most 3rd world nations. WHY?
IMF is hated because most of those developing countries claimed that the IMF have high demands and dictate on how those funds should be dispensed,
making the nation lose sovereignity.
Truth is, IMF is doing the RIGHT thing as a bank should do - responsible lending.
The IMF is NOT some wealthy private bank, but a banking entity that pools the resources from wealthy nations with higher savings and revenues to help
the less developed nations in our world.
In the past, it had only bleeding heart compassion and misplaced empathy, almost to the point of giving those funds away to supposedly 'poor'
nations. But what happened was in those poor nations, power was often seized by those with might, who proclaim democracy when the citizens are not as
educated as the west and thus knows not the responsiblity of citizens towards democracy.
Wild promises were made to those citizens, whom elected them and made the mighty become leaders. IMF had foolishly ASSUMED that those leaders were
responsible and were accountable. They were not, and soon those funds were siphoned off to grow only their power and corruption. Nothing was done for
the citizens economically or socially. A few coins were thrown at them to make them happy, and nothing else.
Thus those nations remained stagnant and poor, and war torned as each greedy wannabe leader wanna enrich themselves and their cronies.
And IMF had learnt. Today, it takes great responsibilities with those funds, to ensure that it goes where it is suppose to go - developement and not
into the wallets of leaders, thus greater checks for accountability and sustainability for such funds.
Those greedy wannabes realized money isn't gonna drop from the sky anymore.
And here now, BRICS condemns IMF as being dictatorial, and wanna set up their own funding for 3rd world nations, with lesser controls and oversight,
freely offered to the victim card playing corrupted 'leaders' to enslave their citizens even more.
BRICS have no concerns about corruption or human rights issues, or even losing the entire bank funds. It is not their own money, but their own
citizen's taxed funds and savings. If it is lost, they will just enslave its own citizens even more - end healthcare and education, let
infrastructure rot, etc.
It is no wonder african leaders and their kept press are praising BRICS to the skies. Money will drop from the skies again and the african oppressed