The chief of the International Monetary Fund, Christine Lagarde (shown), again threatened that the controversial globalist institution she runs could move its headquarters from Washington, D.C., to Beijing. It is the second time the IMF chief has made the threat publicly in recent years. And it comes as the globalist establishment openly grooms the mass-murdering Communist Chinese dictatorship for a leading role in what top globalists and communists often refer to as the “New World Order.”
Speaking at an event hosted by the Center for Global Development, a left-wing globalist think tank funded by taxpayers and fervent globalists such as Bill Gates, George Soros, and the Rockefellers, Lagarde noted that emerging economies were growing quickly. “Which might very well mean, that if we have this conversation in 10 years time … we might not be sitting in Washington, D.C.,” said Lagarde, who was convicted of “negligence” late last year as part of an official corruption scandal. “We’ll do it in our Beijing head office.”
In essence, Lagarde noted that, if current trends on Communist Chinese economic growth continue, the IMF will give Beijing and its allies more influence in the Fund’s decision making. And because the IMF’s bylaws call for it to be headquartered in the largest member economy, that could eventually be China — at least if globalists succeed in further handicapping the U.S. economy while boosting China’s using schemes such as the United Nations “climate” regime known as the Paris Agreement. As this magazine has documented, the UN pseudo-treaty would transfer vast sums of wealth and productive capacity from America to China under the guise of “climate change.”
As of right now, the U.S. government has veto power over IMF decisions, because it controls a 16.5 percent share of the IMF’s board votes, and decisions require 85 percent support. In theory, then, the U.S. government could block developments it did not support. And yet, during the Obama years, despite some opposition from Congress, the U.S. government agreed to drastically empower the IMF, and the governments of Russia and China within IMF decision making. Indeed, IMF bosses and foreign powers even threatened to strip the U.S. veto if Washington, D.C., did not go along with the radical agenda. And Obama’s treasury secretary indicated support for a Chinese proposal to create a global currency controlled by the IMF.
As the Communist Chinese economy grows larger at the expense of the United States, with the deliberate conniving of Western globalists such as George Soros and the Rockefeller clan, the trend toward sidelining the U.S. government in the architecture of “global governance” will only accelerate. As that occurs, global institutions will become increasingly totalitarian-minded. Already, Communist Chinese agents control a massive array of UN agencies, and even Interpol, the self-styled global “law-enforcement” agency. Lagarde speculated that within a decade, the IMF would be headquartered in Beijing, which means its economy will be officially larger than the U.S. economy.
In 2014, the establishment media had a field day touting the IMF claim that China had officially surpassed the United States in terms of Gross Domestic Product (GDP). But the reality was more complex. Leaving aside the fact that the United States has less than a quarter of the population of mainland China, and that the output of an average Chinese citizen is about at the level of Americans in 1940, the Chinese economy was still not actually bigger than the American one if legitimate measures and criteria were used.
“All this is based on so many ethereal and esoteric assumptions as to be borderline ludicrous,” explained The New American‘s Bob Adelmann, a former investment advisor, about the IMF announcement. “The first assumption is that the comparison, based on something called purchasing power parity [PPP], is fair and honest. The idea is that the purchasing power of the yuan inside China differs substantially from the purchasing power of a dollar inside the United States.”
“And so the worthies involved pored over reams of statistics to determine how to calculate China’s GDP when compared to that of the United States,” Adelmann continued in his 2014 analysis exploring the IMF’s use of “PPP” data to form its conclusions. “This makes things look a lot better for China than if the dollar/yuan exchange rate were used. In that case, China’s economy is less than $10 trillion in size.”
Secondly, Adelmann pointed out, is the fact that Communist Chinese numbers are not reliable, despite absurd IMF assumptions that they are. Another faulty assumption was the notion that the Chinese economy would grow at over nine percent over the coming years, despite all of the economy’s imbalances, bubbles, and other problems, as evidenced by the “ghost cities” across China. And finally, the IMF analysis ignored enormous economic problems hidden behind China’s phony “growth” numbers.
But even before the IMF’s discredited 2014 announcement, IMF boss Lagarde was already threatening to move the IMF to China. Days after attending secretive Bilderberg meetings with top globalists and a member of the Chinese Communist Party Central Committee, Lagarde shocked the world by claiming the IMF’s headquarters could eventually be moved out of the United States to Beijing. The statement came amid well-orchestrated establishment efforts to boost the role of Third World dictatorships and corrupt governments in “global governance,” and within the IMF in particular.
“The way things are going, I wouldn’t be surprised if one of these days the IMF was headquartered in Beijing,” Lagarde said in June of that year in a speech at the London School of Economics, adding that she did not think it was “fate” that the outfit should be indefinitely run by a European. “It would be the articles of the IMF that would dictate it.” The French bureaucrat also made a series of bizarre statements praising the Chinese dictatorship — responsible for murdering more human beings than any government in history — while blasting the United States for failing to agree to her demands to empower the IMF and Third World regimes.
Lagarde claimed there was “frustration by countries like China, like Brazil, like India, with the lack of progress in reforming the IMF by adopting the quota reform that would give emerging-market economies a bigger voice, a bigger vote, a bigger share in the institution.” By “countries,” of course, the former French finance minister meant governments — in this case, widely criticized ones with deeply troubling records. “I share that frustration immensely,” she added, saying the IMF’s “credibility” would suffer if Russian strongman Vladimir Putin, the regime in Beijing, and other powers were not granted more authority within the IMF.
Despite cloaking the agenda in misleading terminology in public statements, the IMF and the globalist establishment behind it have made their true intentions relatively clear. At the top of the list, as far as the IMF goes, is transforming the Fund into a sort of global central bank with the authority to print an international reserve currency. Far from being a pipe dream by delusional Utopians, the proto-global currency, known as “Special Drawing Rights,” already exists. SDRs, as they are known, are composed of a basket of currencies that currently includes the U.S. dollar, the Chinese yuan, the euro, the Japanese yen, and more. As the orchestrated demolition of the U.S. dollar as the global reserve currency proceeds, the globalist establishment and its allies in Beijing hope to replace it with the SDR.
All of it is part of the globalist agenda touted by establishment operatives as the “New World Order.” Speaking to the Financial Times, globalist self-styled “god” George Soros called for the mass-murdering regime enslaving China to “own” the “New World Order” in the same way that the United States owned the previous one. He also claimed China has “a better functioning government than the United States.” Before that, writing in the New York Times, the late globalist schemer David Rockefeller praised the “social experiment in China under Chairman Mao” as “one of the most important and successful in human history.” He did not mention that some 60 million people were killed as part of it.
Instead of being intimidated by the threats of Lagarde and other globalists to let Beijing run the “New World Order,” the U.S. government would be wise to withdraw from the IMF and evict its headquarters — along with the UN, the World Bank, and other such establishment-controlled outfits. Rather than “helping” America or the world, the globalist institutions have served primarily as tools to oppress people, loot humanity’s wealth, overthrow governments, enslave nations with debt, and generally to advance the cause of globalism. So let Beijing have the IMF, and the UN too. Then Washington, D.C., can focus on putting America First instead.
Photo: AP Images
Alex Newman is a correspondent for The New American, covering economics, education, politics, and more. He can be reached at [email protected]. Follow him on Twitter @ALEXNEWMAN_JOU or on Facebook.
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