Re: Ehippies new DoS tools and information

From Duncan Carroll <>
Date Sat, 18 Mar 2000 12:35:31 -0500

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     Granted, the merging of terms (WTO/IMF) was incorrect; thanks for
clearing that up.  
Now for the real meat:
     The IMF and the IBRD (now known as the World Bank) were established in
1945 (specific dates vary depending on who you ask), to promote
international trade and finance Europe's reconstruction post-WWII,
respectively.  The stated mission of the IMF has been to 'promote
international monetary cooperatioon and exchange foster
economic provide financial assistance...' etc.  However, as is
often the case, the reality differs from the ideal.  Right away, it is
difficult to see how an organization like this can claim to be in the best
interests of impoverished countries, when through proportional
representation, the US, UK, Japan, Germany, France, Canada, and Italy hold
40% of the votes in their hands.  In practice, the IMF and it's
anti-democratic Structural Adjustment Programs (SAP's) have a beneficial
impact on an elite group of corporations, their investors, and the upper
class, while harming the masses of the country.  This is a typical scenario
of capitalist exploitation, visible in all parts of the world.  There is no
doubt that organizations such as the IMF and WB serve mainly to maintain a
sort of two-tiered societal system that keeps a wealthy elite on top, and a
huge amount of impoverished masses in a chokehold at the bottom.  Little
attention is paid to social or humanitarian concerns of the countries
involved.  Instead, the drive for profit continues, and vast inequalities
are mantained.
     But where does the WTO come in?  The WTO was founded in 1995 as tool
for removing 'non-tariff barriers' to trade.  Essentially what this means
is that any legislation that can be construed as having an effect on trade
can be removed.  What this does is put another tool into the hands of the
exploiters of these countries.  The IMF says that these countries must
accept our terms for trade and debt repayment, setting them up for easy
exploitation, and the WTO says, screw local and national legislation
because it really doesn't matter as long as the capitalist model is pushed
through, and transnational corporations get what they want.
     If anyone is looking for more information on this topic, there's
plenty of IMF/WB/WTO info on the web, Znet ( has a nice
collection, as well as 50 Years is Enough (, which is
sponsoring the upcoming April 16th protest.  And, should you want the
propaganda and half-truths, you can always go to and  

But I guess I need to <ahem> read more to get the real score, eh XS? =)


> Perhaps my grammar is of track, yet, my knowledge is
> not. The Fact is I am referring to the Seattle
> Protest. Some Fact to clear, "WTO/IMF" they do not
> relate to each other by any mean, yet, they cooperate
> with each other. WTO is as its name suggests "World
> Trade Organization" while the IMF is as its name
> suggest "International Monetary Fund". One is for
> freeing up trade which is the WTO, the other is for
> balance of payment between country members which is
> the IMF. Now, the fact is you way off track from
> realm. I would suggest to you that you read more about
> the two organizations. And perhaps if you have some
> economic knowledge and to be more specific, Economic
> in International Trade. If you do, then and only then
> you will realize that your wrong.

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