Learn From Your History

Having given the wrong data will not entitle me any marks. However, better explanation to the substantial essence of 'consequenses when people have failed to choose the right leader' will justify more towards the readers understanding. Thus, I hope by bringing out better explanation within the scope of the subject, it will give us more justification towards the topic that we discussed, despite the fact that I will not getting any marks.

During the currency crisis in 1997/1998, other than Indonesia, Philippine, Thailand etc., South Korea is one of the many countries that had been dragged to borrow the International Monetary Fund (IMF) money. Many of us know how it happened, however, to read without to write will only makes me forget it fast. So, please assume that what I write here is only for a refreshment of mine.

The IMF is significant to the Great Depression in 1929, The Holocaust in 1941, and the World War II in 1939 to 1945. It was the speculators that led to the great depression, but during that period of time, the US was only relied to their World Bank and ONLY. There's no alternative wealthness to proxy the damage caused by the speculators. IMF was not instituted yet. Therefore, when the World Bank collapsed, there were no remedies to heal the situation ~ The Great Depression

This had caused to the arouse of German's power under Hitler's ruling, and apparently led to The Holocaust that killed 6 million European Jews and the World War II.

So, the US, which economics were driven by traders that mostly started by the Jews, learnt their lessons well and indeed fast.

Instituted in 1944 and since then, economic problematic countries will be forced to borrow the IMF money. They are forced with the condition that one's country must open their country wide for foreign investor to take over freely almost every bankrupt companies and banks. By this, most of the local banks and companies will be owned by foreigners. The IMF has also advised to impose high interest rates and reduce the government spending. And, all these will direct to the consequence below;

"..Increasing interest rates would undermine business, reduce their profits and reduce government revenues. To achieve a surplus budget when government revenues was greatly reduced meant cutting out on government salaries and development expenditure." TDM, Abu Dhabi, UAE, 2004.

By this, in the end it is not just the banks and companies that went bankrupt, but eventually, the government as well, would end up in bankruptcy. Thus, once this happen, the country would be in the authorities of IMF for a very long period of time, if not forever. And this is what had happened to some of the South Korea's automotive companies during the 1997/1998 economic crisis.

Few questions arise. What is the difference if you don't deal with IMF but still depends on World Bank for one's country's fund? Does the history repeat when 911 happened prior to US intention to source off new wealthness (oil) as substitude? [So that, the US will have remedies for any current or future unconditional world economics, which they currently possess? And therefore back-ups for any downfall of world economics and apparently stops the raise of another super power like HITLER's?]

Learn from your history.