-Caveat Lector- So, who IS this guy Wolfensohn, and why does he dare to "lecture" America? He's the permanent "American/International" representative to the Bilderbergers (one of whose avowed goals is "American and British solidarity in economic matters") and one of the 39 members of the Bilderberg Group's "inner circle," which includes David Rockefeller, Britain's Lord Roll (S. G. Warburg bank), Henry Kissinger, and George Ball and William Bundy, American Anglophiles from New England's "old money" elite. Alongside Rockefeller, Kissinger, Lloyd Bentsen (remember BCCI?), and George Soros (front man for the Rothschilds), Wolfensohn was one of the heavyweights at the Bilderberg conference of 1996. (http://www7.tripnet.se/~esa/home/eng/bblist.html) As president of the World Bank, he has worked tirelessly to entice Red China into the "global economy," so that western investors (especially in the Bilderberg circle) can reap undreamed-of profits from eventually bringing the sole surviving Communist giant --with its huge slave labor pool-- under the control of these international bankers. And you wonder why Bill Clinton has practically sold his soul to woo Red China? When Wolfensohn speaks, Clinton listens; when the Bilderbergers command-- World Bank Head Criticizes Congress WASHINGTON (AP) - World Bank President James Wolfensohn denounced Congress Tuesday for slashing spending on foreign operations, calling the move a ``disgrace'' that could endanger lending to many poor nations. Wolfensohn said Congress has cut the proposed U.S. contribution to the World Bank's low interest lending program to $620 million from the $800 million originally requested by the Clinton administration. ``It would be just devastating - devastating to American leadership and devastating to people in development,'' if the full amount is not provided, Wolfensohn told reporters after a speech to the Center for Strategic and International Studies. Wolfensohn joined Secretary of State Madeleine Albright and Treasury Secretary Lawrence Summers, who recently protested Congress' action on foreign operations spending. But it was unusual for the head of an international organization to criticize the legislature of a member nation. Wolfensohn is an Australian-born American. The World Bank has budgeted $6 billion a year over the next three years to be provided to the International Development Association, the bank's window for developing countries to receive loans at advantageous terms. However, Wolfensohn said the Congress' decision to cut the U.S contribution to IDA may encourage other donor nations to reduce their contributions, endangering the entire program. ``The U.S. spends less than one-tenth of one percent of our gross domestic product on foreign assistance, and in the current state of legislation that is proposed in the House, the minimum amount - $800 million - that had been promised for IDA is on the books now as $620 million,'' the World Bank chief said in his speech. ``It is a disgrace,'' he said. Last month Congress cut the Clinton administration's foreign operations spending request, which includes the World Bank allocation, to $12.7 billion, and President Clinton vetoed the bill. The administration now must negotiate with Congress on the spending request. Wolfensohn said that the current push to bring meaningful debt relief to poor countries must be linked with continuing development lending to be effective. He said U.S. congressional resistance to providing the funds to support such efforts seems based on the misunderstanding - as reflected in some surveys - that the United States already allocates 10 percent to 15 percent of gross domestic product to foreign assistance programs, when the figure is actually below 0.1 percent. As a share of GDP, Sweden and Denmark provide 10 times as much foreign aid as the United States, the World Bank president added. HEADLINE: World Bank may back China loan despite US vote. Blair to hold talks with World Bank chief LONDON, Oct 26 (Reuters) - Prime Minister Tony Blair is due to hold talks with World Bank President James Wolfensohn later on Tuesday, the premier's spokesman said. Blair is expected to discuss World Bank priorities and objectives for the next five years, the premier's spokesman said. The two will also discuss discuss China, Pakistan, and Nigeria, as well as heavily indebted poor countries. No further details were available. A statement is not expected after the meeting. World Bank to Lend Mexico $1.1 Bln to Shore Up Finance Industry Mexico City, Oct. 26 (Bloomberg) -- The World Bank said it is close to signing and beginning to disburse $1.1 billion in loans to Mexico to help it shore its financial industry and boost the efforts to promote state economic activity. The funds, which are part of the $5.2 billion in loans the World Bank has agreed to grant Mexico in the next two years, are intended to help Mexico improve its banking oversight. For that the World Bank has earmarked $500 million. The rest of the funds, two thirds of which are expected to be disbursed before the end of the year, will be used to help government-sponsored decentralization efforts, said James D. Wolfensohn, the World Bank's president, during a news conference. In addition, the World Bank is also reviewing a $400 million loan to help Mexico cope with the damage brought to several southern and central states by torrential rains. Part of those funds are also expected to be used to prevent future natural disasters. The World Bank also has in the pipeline a $200 million loan to improve Mexico's infrastructure, $200 million more for highway construction and about $120 million for environmental projects. The World Bank has about $12 billion in outstanding loans to Mexico and could disburse an additional $4 billion more in coming months. DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance—not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. 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