Sociopaths in Power
Doug Casey on DSK, the IMF, and the World Bank
Interviewed by Louis James
L: Howdy Doug; had a good week? We can talk, but I should warn you that my Internet connection has been very flaky today.
Doug: Are you still in Bamako?
L: No, I’m back from Mali. It’s my good old all-American high-speed Internet that keeps disappearing. Anyway, what’s on your mind today?
Doug: Well, one thing is my upcoming trip to Tel Aviv, Cairo, Beirut, and Dubai from June 9-22. If we have any readers in those cities who’d like to get together, it would be great to hear from them. I’m sorry I couldn’t join you in West Africa.
We both travel almost as much as officials from the IMF. In light of that, I guess we should follow up on the Dominique Strauss-Kahn (DSK) scandal. It’s still vaguely on people’s minds – not quite yet flushed down the memory hole and replaced with something else torn from the pages of the National Enquirer. Maybe the Greek central banker who’s just been arrested for the same thing will serve…
L: You don’t sound very enthusiastic.
Doug: Well, following the depredations of IMF bureaucrats, whether in the bedroom or the boardroom, is depressing. Only a sociopath could become head of the IMF anyway, so why should anyone be surprised by such a man’s sociopathic behavior?
L: [Laughs] I should have known.
Doug: We could talk about the IMF, though, and its ugly stepsister, the World Bank. There’s a pair of lofty institutions that need a little deflating. Abolition, actually, but let’s start with lancing the boils. Do you know much about the IMF?
L: Not really. I’ve never paid much attention to it. It’s just another of these transnational bureaucracies stuck in the quicksand of money thrown at problems money can’t solve. On the fringes of my awareness, I’ve noticed that it positions itself as being a benevolent group of bright economists who can help benighted “developing” nations solve their economic problems. But it’s not really sound economics they teach, it’s First-World bureaucracy – rules and regulations – they spread to Third-World countries already tied up in red tape, enticing them with cash bribes.
Doug: [Chuckles] Well said. That’s pretty much the way I see it. It was set up in the waning days of WWII, to impose order on currencies, trade policies, debt structures, and the general financial and economic affairs of poor and troubled countries. That’s its official mission. In reality, it’s a vehicle made necessary only by the fact that all of its members have fiat currencies.
L: Okay, we can debunk the IMF. It certainly deserves it. But is there really nothing instructive about the demise of DSK? He hasn’t been found guilty of anything yet, but it looks like he’s toast, regardless of the outcome of his trial.
Doug: I don’t know about instructive, but I certainly found the arrest of DSK gratifying. I don’t want to say that I experience schadenfreude every time I see a high government official ensnared in his own wrongdoings… Let’s just say that my sense of justice triumphant gives me a good laugh at such times.