Tuesday
Feb152011
The IMF Protection Racket
February 15, 2011 There seems to be strong consensus - at least outside of the US and Britain - that the IMF (International Monetary Fund) is a protection racket. Here is the Wikipedia definition of protection racket: An extortion scheme whereby a criminal group or individual coerces other less powerful entities to pay money, allegedly for protection services against external threats (usually violence or property damage). Many racketeers will coerce potential clients into buying protection through property damage or other harassment. In some cases, the racketeers do little to protect the client from other predators, and their "protection" is little more than extortion.