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World Bank and International Monetary Fund strangle economies of Third World

The World Bank’s origins go back to the Bretton Woods conference of July 1944, when leaders from 43 nations assembled to start building the global economy in the aftermath of World War II. U.S. Treasury Secretary Henry Morgenthau, hoping to avoid another worldwide depression, called for creation of institutions that would create “a dynamic world community in which the peoples of every nation will be able to realize their potentialities in peace.”
 
 

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