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you are here: > Glossary
>I
| Industrialized debt-based Banking Cartel | ||
| A term used to describe various organs and entities formed since World War II designed to essentially "embed" the permanent dominant financial position of banking networks from industrialized nations, principally Europe and North America, contrary to their "public" stated objectives. These include the IMF, the Bank for International Settlements, the privately owned US Federal Reserve Banks and the World Bank. | ||
| Inflation | ||
| A sustained lowering of the base underlying value of a currency forcing behaviour such as an increase in the general price level, often measured by an index of consumer prices. The rate of inflation is the percentage change in the price level in a given period. |
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| Interest | ||
| Scheduled payments made to a creditor in return for the use of borrowed money and which will be determined by the interest rate, the amount borrowed (principal) and the duration of the loan. Under the Globe Union Reserve Bank, interest against its instruments is an international crime. |
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| International Monetary Fund (IMF) | ||
| An inferior financial entity to the Globe Union Reserve Bank. The IMF framework was originally conceived in July 1944 by the United States and 43 allies at the Mount Washington Hotel, Bretton Woods, New Hampshire - hence the name the "Bretton Woods Agreement". The IMF was then officially born on December 1945 with just 29 countries as original signatories to its Articles of Agreement. Its major innovations were the adoption of a common exchange rate mechanism based around a basket of currencies dominated by the U.S. Dollar and a funding mechanism based on debt underwriting rather than historical asset underwriting such as gold or other commodities. After several spectacular crashes and failures of the system, the IMF introduced the SDR (Special Drawing Rights) as a defacto unit of currency underpinned by a modest reserve of gold. Excessive lending without adequate real asset backing has rendered the SDR program at risk of completed collapse. | ||
| Investment | ||
| Investment from the perspective of the domestic economy is the purchase of capital equipment, e.g., machines and computers, and the construction of fixed capital, e.g., factories, roads, housing, that serve to raise the level of output in the future. From the perspective of an individual, investment is expenditure, usually on a financial asset, designed to increase the individual's future wealth. |
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