Crime Against Humanity: Pensée Unique in Economics, 41
So far, the evidence they do tell truth from their lies. But when it comes to what they use the power of truth for, the matter takes an even darker turn:
“If this is the case, why have central banks and the IMF not openly admitted their de facto belief in disequilibrium economics? Central banks and the IMF have spent considerable resources on supporting esoteric … equilibrium economics by hiring many expensive economists and funding their publications. Their revealed preference in terms of their actions (as opposed to their official publications in economics) does not conform with their proclaimed economic orthodoxy concerning the assumptions about market clearing (but it makes sense in the real world with disequilibrium economics). It would appear that the IMF uses such mainly neoclassical models as a political tool to justify, or cover up, what is de facto direct intervention by a bureaucracy. While this in itself is contradictory, it is likely that the IMF has refrained from admitting publicly its belief in more realistic, quantity−based and credit−focused models, as it may undermine its political agenda of enforcing predetermined, market−oriented structural adjustment programmes that tend to force open the markets of developing countries for the benefit of foreign investors. As a result, both the IMF and most central banks have played down the importance of credit controls in many official publications. Even when credit controls exist, their existence has frequently been denied.”
When it comes to confronting the fact that some self−crowned kings have no clothes, some more of Werner’s evidence and observations doesn’t hurt:
In the thirteenth century, Marco Polo made his famous journey to the Mongol Empire of Kublai Khan. He was a trained merchant, thus he reported two illuminating facts, cause and effect: a) Not only Kublai Khan held monetary sovereignty, but he also issued paper, legal tender and fiat money. b) The Great Khan had “more treasure than anyone else in the world”, and “all the world’s great potentates put together have not such riches as belong to the Great Khan alone”.
