Armed with the $21,000,000,000 Capitalization, the World Bank smooths the path for world development. Within a few years after the organization of the international Bank for Reconstruction and Development three other world-wide banking institutions were established. Later, branch banks came into being and finally dozens of regional and district banks were established. The U. N. has put the world in the banking business. . . .the empire-building projects of the U. N. require no less—and probably a lot more—as they insist that their activities must be DOUBLED if they are to reach their goal. This is the goal proclaimed by Council on Foreign Relations member-agent, Elmo Roper: "Our goal is Government of all the World."
Some of the activities of the World Bank known as IDA, International Development Association (not to be confused with AID) the pipe-line which carries the money from Congress to its various U. N. destinations), ARE ENLIGHTENING. Their publication, Policies and Operations of the World Bank, offers this:
Page 55: TRANSPORTATION
"Bank lending for the development of transportation has amounted to $2,260,000,000. Funds have been lent in more than 40 countries for rail, stock, or air transport, ports, waterways, shipping, aerial ropeways and pipelines... While most of the money went to import locomotives or rolling stock, the loans are also assisting in the construction of new rail lines and repair shops in some countries and rehabilitation (of rail lines—ed.) in others. India alone has received $378,000,000 for the modernization and expansion of its railway system. . . The largest loan yet made was one of $72,000,000 to construct or improve approximately 1,800 miles of (OIL-RICH—ed.) Iran's highway network.
". . . Pakistan received a loan for the construction of a 350 mile natural gas pipe-line which is supplying fuel for industrial expansion. . . and bank funds are building a 41 mile oil pipeline in Tobago and Trinidad to bring fuel to a power station also being built with Bank assistance. .. Another loan helped to pay for a 412 mile oil pipe-line from the Hassi Messaoud oil field in the Sahara to the Algerian port of Bougie on the Mediterranean. Aerial rope lines being erected from coal mines to a privately owned steel mill in India will relieve congestion or the railways."
It might occur to somebody to ask just why the tax monies of the American Producer should be devoted to the building of oil and gas pipe-lines in these far-off countries. Informed people everywhere know that OIL is cartelist property; those who reap the profits from oil and gas are well able to pay for their own pipe-lines. This should raise the question: WHO WILL OWN THIS PROPERTY in which America has so much invested--THOUSANDS OF MILLIONS of dollars worth of wealth created through OUR TAX MONEY? When we deal with the subject of INDUSTRIALIZATION we are dealing with the profit motive. If we pay for all this—who should own it?
The World Bank report sheds further light on this subject, page 57:
"INDUSTRY: Bank lending for industry now totals more than $1,129,000,000. Countries in Asia have been the largest industrial borrowers. In Japan the chief beneficiaries have been the LEADING STEEL PRODUCERS (now in competition with our own steel—ed.) In India two PRIVATE Steel companies have borrowed about $157,000,000 for their expansion programmes. Other industrial loans have included funds for manufacturers of paper products; the paper and boards industries; the development of deposits of manganese and iron ore; steel production and a wide variety of industrial undertakings in Southern Italy.
"Some of the loans have been made directly to PRIVATE industries, with government guarantees; others have been made to governments or government financing institutions which re-lend or allocate the proceeds to manufacturing or mining enterprises, and finally some have been made to development banks. “
This free-handed "lending" of tax monies is an ever-expanding project of the United Nations and its agencies. It will continue to expand until the funds dry up. The United Nations and its agencies will NEVER CURTAIL the demands and expenditures on their own initiative. They are out to build a World Empire and they are getting along famously. However, it becomes more and more apparent that they cannot complete this global industrialization program without an international currency. In the early days of the government, of course, management and labor will have to be paid. The World Government must issue its own money, which they propose to do through the International Monetary Fund.
This is not the real and imminent peril which faces America. The plans and preparation for empire-building are largely still on paper. As the plans were adopted, the money was appropriated, but, due to the lack of skilled labor and management, much of this money—nearly TWENTY THOUSAND MILLION of it, at last report—was in the pipe-line. It is available to meet payrolls for skilled labor and management for a long, long time. The Agency for International Development and other U. N. spending agencies have been given so much money by the Congress and the legislatures of other governments, that they simply could not spend it. It has become obvious to the "intellectuals" —even as it would have been obvious to an average American at a much earlier date—that the NATIVES WILL NOT, IN THE FORESEEABLE FUTURE, be able to get these plans and programs into operation. In November, 1961, (page 64), Mr. Eugene Black of the Executive Service Corps (Asia) said:
"Our experience continues to confirm that shortage of capital is not the only, and indeed not the principal, obstacle to more rapid economic progress in the less developed countries. Inexperience and lack of trained manpower at every level are even more serious handicaps."
The billions of dollars appropriated for the "development of the underdeveloped areas" were based on the "intellectual" theory that natives of Asia and Africa could be put to work in industrial production if the industries were established for them. In fact, they, the "intellectuals," believed the natives, given a little encouragement, could establish the industries on their own. It came as a terrific shock to the "intellectual" community to learn that the average native could not punch a time-clock because he could not read. Now they propose to spend more thousands of millions of dollars to "educate the natives—at least to the point where they can punch time-clocks.
Before leaving the subject of the World Bank, it might be well to consider the stability of such a "lending" institution and how the Bank "influenced" the in• vesting money to buy its bonds. Of greater importance to many unsuspecting Americans is the question of WHO buys these bonds.
On page 82, we find that the only market able to provide funds in the Bank's early years was that of the United States. Even here the financing was difficult. The "financial community" distrusting any investment connected with international lending and in the Bank's first years federal and state laws prevented any investor from purchasing the Bank's bonds. Early in 1947, therefore, the Bank began its own propaganda operation and by 1963 the bonds, subject to various statutory and administrative qualifications, became legal investment for:
"Commercial Banks in 49 States and the District of Columbia. Savings Banks in 28 States and the District of Columbia. Life Insurance Companies in 48 States and the District of Columbia. Other insurance Companies in 46 States and the District of Columbia. Trust funds in 44 States and the District of Columbia."
In addition, TEN STATES have passed legislation authorizing the investment of public funds in obligations of the Bank and in a number of other States IT IS BELIEVED that public funds may be invested in Bank obligations under legislation affecting the eligibility of these obligations for institutional investors. As a result, substantial investments in Bank bonds have been made by administrators of public funds, STATE EMPLOYES PENSION FUNDS being the main buyers in this category."
Anyone interested in further informaton on this subject might send to his congressman for a copy of Public Law No. 142, 81st Congress, Act of June 29, 1949. It might be well, also, for citizens of the several States to learn just how far their States are involved in the "obligations" and operations of this United Nations agency. Another item for consideration is this:
"The sale abroad of the United States dollar issues has been assisted by certain exemptions from U. S. taxes accruing to holders of World Bank bonds and notes, who are non-resident aliens or foreign corporations."
Many volumes could be consumed in discussion of the various World Banks. In this little publication nothing more can be done than barely raise the curtain in the hope that inquiring minds, attuned to financial matters, will continue a study of the subject and be prepared to help the nation meet the consequences of this high-flying financial manipulation of the property and credit of the American People.
A little time must be devoted to a report on the International Finance Corporation, one of the many off, shoots of the International Bank for Reconstruction and Development. "It," according to this report on the World Bank, IDA and IFC,
"provides financing in association with private investors, without government guarantee of repayment, in cases where sufficient private capital is not available on reasonable terms
"Seeks to create investment opportunities by bringing together domestic and foreign investors and experienced management and endeavors to stimulate the flow of private capital into productive investment in member countries."
This strange policy of mingling public and private funds in world-wide financial speculation, admittedly FOR PROFIT, takes some strange twists:
"IFC (International Finance Corporation—ed.) loans are made without government guarantee. The Corporation ordinarily does not require guarantees of repayment by banks, or parent or affiliated companies, but may request guarantees in certain cases."
These policies are not in accordance with sound banking practices, as we understand them, in this country. This brings up the question of whether or not the Trust Funds from STATE EMPLOYEES PENSION FUNDS are safely or properly invested in the debt securities of such institutions. By their own confession, they say that these investments were frowned upon in the legitimate investment banking community and that they were forced to propagandize certain states in these United States. Apparently this was necessary in no other country, for they claim there was no market for such securities anywhere except in the United States. COMPLETELY UNINFORMED state officials had to be persuaded to enact special legislation to permit investment of public trust funds.
The Charters of these United Nations banks provide excellent study material for interested students of the world economy. All four of the major world banks have almost identical charters and all contain this provision:
"To the extent necessary to carry out the operations provided for in this Agreement and subject to the provisos of this Agreement, all property and assets of the Association shall be free from restrictions, regulations, controls and moratoria of any nature. . . All Governors, Executive Directors. Alternates, officers and employees of the Association shall be immune from legal process with respect to acts performed by them in their official capacity except when the Associaton waives this immunity. . ."
The financial operations of the United Nations might well become the most absorbing subject of a twenty-five foot shelf of books. Even "our" own transactions with the U. N. Organization, in the matter of meeting "our" financial commitments, are tainted with the all-inclusive fraud of the World Government. The Constitution of the PRE-REVOLUTIONARY Government of the United States of America provided in Article 1, Section 7, Paragraph 1:
"All bills for raising revenue shall originate in the House of Representatives, but the Senate may propose or concur with amendments as with other bills."
Thus reads the good old plain English of the deceased Constitution of the United States of America. There is no evasion or double-talk here. A child can understand this and so it was intended. We must assume that members of BOTH HOUSES OF CONGRESS understand this also, unless we have become convinced that Congress lacks the mentality of the average child.
Most of the Charter provisions required implementation. Acts of Congress were required to put the Charter provisions into effect. One of the first acts of implementation was the United Nations Participation Act of 1945, as amended, October 19, 1949. Congress itself enacted this law which PLAINLY VIOLATED THE CONSTITUTION and indicates to the writer, at least, that Congress, at the time, KNEW the Constitution had been abandoned. They were prepared to abolish it completely. Section 8 of the U. N. Participation Act, as amended, provides:
"There is hereby authorized to be APPROPRIATED ANNUALLY TO THE DEPARTMENT OF STATE OUT OF ANY MONEY IN THE TREASURY not otherwise appropriated, such sums as may be necessary for the payment by the United States of its share of the expenses of the United Nations as apportioned by the General Assembly…”
This is an appropriation bill which did not originate in Congress. There is nothing here to indicate that Congress needed to know anything about it. Perhaps it is none of the business of Congress to know how the Member State, UNDER U. N. DISCIPLINE, appropriates money for the World Government, nor will Congress determine the amount to be paid. The General Assembly will decree the amount of our tax money to be DRAWN DIRECTLY FROM THE TREASURY by the Secretary of State.
The General disregard, if not actual contempt, of the United Nations for the Congress of the United States was brought to light when the Congress passed a LAW that the Government of the United States could not be assessed for more than a third of the cost of the United Nations budget in any given year. The very first budget drawn up by the General Assembly, following enactment of this law, assessed the U. S. for MORE than one third and the 1965 budget called for 39% to be paid by good old Uncle Sam. What does Congress do about it? A few of them COMPLAIN, that's all. They will not tangle with the U. N., not so long, at least, as the Government of the United States is under U. N. DISCIPLINE.
We might digress for a moment to quote another provision of the U. N. Participation Act, which is illuminating. This section confers upon the President powers which were not permitted to him under the Constitution, but which became MANDATORY, by U. N. interpretation, under the Charter. The Congress is simply "implementing" Charter provisions in adopting this in Section 5. (a):
"Notwithstanding the provisions of ANY OTHER LAW, whenever the United States is called upon by the Security Council to apply measures which said Council has decided, pursuant to Article 41 of the Charter, are to be employed to give effect to its decisions under said Charter, the President may, to the extent necessary to apply such measures, THROUGH ANY AGENCY WHICH HE MAY DESIGNATE and under such orders, rules and regulations as may be prescribed by him, INVESTIGATE, REGULATE OR PROHIBIT in whole or in part, ECONOMIC RELATIONS, or rail, sea, air, postal. telegraphic, radio and other means of communication between any foreign country or any national thereof or any person therein and the United States or ANY PERSON SUBJECT TO THE JURISDICTION thereof, of involving any property subject to the jurisdiction of the United States.
"(b) Any person who willfully violates or evades or attempts to violate or evade any order, rule or regulation issued by the President pursuant to paragraph (a) of this section shall, upon conviction be fined not more than $10,000 or, if a natural person be imprisoned for a period of not more than ten years or both the officer, director or agent of any corporation who knowingly participates in such violation or evasion shall be punished by a like fine, imprisonment or both and ANY PROPERTY, FUNDS SECURITIES, PAPERS or other articles or documents, or any vessel, together with her tackle, apparel, furniture and equipment, or vehicle or aircraft concerned in such violation shall be forfeited to the United States."
This act of Congress was necessary to put into effect OURCOMMITMENTS to the United Nations under the Charter. The SECURITY COUNCIL was authorized to issue decrees which we were BOUND to
"ACCEPT AND CARRY OUT."
The U. N. Participation Act was the LAW permitting the President to ACCEPT AND CARRY OUT the decisions of the Security Council. No national or state law can interfere with the enforcement of any Security Council decree. Note the opening words of Section 5, which are repeated in Section 7:
"Notwithstanding the provisions of ANY OTHER LAW."
Indicative of the fraud and outlawry of the whole United Nations system is the frank and open violation in Viet-Nam, with the tacit approval of the U. N., of Section 7 (a), par. (1):
(a), par. (1):
"The detail to the United Nations under such terms and conditions as the President shall determine, of personnel of the armed forces of the United States to serve as observers, guards, or in any non-combatant capacity, but in no event shall a total of one thousand of such personnel be so detailed at any one time."
A later Chapter of this book will be devoted to Viet-Nam and our "solemn commitments" under the SEATO treaty. We point out here, that there were many times one THOUSAND men "at any one time," acting as "guards" and "observers" in Viet-Nam, before it was conceded that we were in a war.
