Jim Rickards: Here’s a peek behind the closed doors of the IMF

From Jim Rickards, Editor, Rickards’ Gold Speculator:

The Washington, D.C., area is thick with secret agencies with “three-letter names,” such as CIA, FBI, NSA and less well-known outfits such as the Defense Intelligence Agency (DIA) and the Director of National Intelligence (DNI).

One of the most powerful, and also most secretive, of these agencies is an institution that is not even part of the U.S. government. It’s an autonomous part of an emerging scheme of global governance accountable only to a small elite of central bankers, finance ministers and heads of state. That institution is the International Monetary Fund, or the IMF.

Everything about the IMF is designed to deceive you — beginning with the name. The IMF is not really a “fund” in the sense of an endowment or mutual fund; it functions as the central bank of the world, taking deposits, called “borrowings,” from countries around the world

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