Jekyll_text

88 THE CREATURE FROM JEKYLL ISLAND
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NEARER TO THE HEART'S DESIRE 89
Beneath the line Remould it nearer to the heart's desire, the mural
depicts Shaw and Webb striking the earth with hammers. Across
the bottom, the masses kneel in worship of a stack of books
advocating the theories of socialism. Thumbing his nose at the
docile masses is H.G. Wells who, after quitting the Fabians,
denounced them as "the new machiavellians." The most revealing
component, however, is the Fabian crest which appears Between
Shaw and Webb. It is a wolf in sheep's clothing!
COMMUNIST MOLES
Harry Dexter White was America's chief technical expert and
the dominant force at the conference. He eventually became the
first Executive Director for the United States at the IMF. An
interesting footnote to this story is that White was simultaneously a
member of the Council on Foreign Relations (CFR) and a member
of a Communist espionage ring in Washington while he served as
Assistant Secretary of the Treasury. And even more interesting is
that the White House was informed of that fact when President
Truman appointed him to his post. The FBI had transmitted to the
White House detailed proof of White's activities on at least two
separate occasions.
Serving as the technical secretary at the Bretton
Woods conference was Virginius Frank Coe, a member of the same
espionage ring to which White belonged. Coe later became the first
Secretary of the IMF.
Thus, completely hidden from public view, there was a complex
drama taking place in which the intellectual guiding lights at
the Bretton Woods conference were Fabian Socialists and Communists.
Although they were in disagreement over method, they were
in perfect harmony on goal: international socialism.
There were undoubtedly other reasons for Communists to be
enthusiastic about the IMF and the World Bank, despite the fact
1. See Zygmund Dobbs, The Great Deceit: Social Pseudo-Sciences (West SayviNe,
New York: Veritas Foundation, 1964), opposite p. 1. Also Rose L. Martin, Fabian
Freeway: High Road to Socialism in the U.S.A. (Boston: Western Islands, 1966), pp. 30,
31.
2. See: David Rees, Harry Dexter White: A Study in Paradox (New York: Coward,
McCann & Geoghegan, 1973); Whittaker Chambers, Witness (New York: Random
House, 1952); Allen Weinstein, Perjury: The Hiss-Chambers Case (New York: Vintage
Books, 1978); James Burnham, TJie Web of Subversion: Underground Networks in the
US. Government (New York: The John Day Co., 1954); Elizabeth Bentley, Out of
Bondage (New York: Devin-Adair, 1951)
that the Soviet Union elected at the time not to become a member.
The goal of the organizations was to create a world currency, a
world central bank, and a mechanism to control the economies of
all
nations. In order for these things to happen, the United States
would of necessity have to surrender its dominant position. In fact,
it would have to be reduced to just one part of the collective whole.
FXhat fit in quite nicely with the Soviet plan. Furthermore, the World
Bank was seen as a vehicle for moving capital from the United
States and other industrialized nations to the underdeveloped
1
nations, the very ones over which Marxists have always had the
greatest control. They looked forward to the day when we would
pay their bills. It has all come to pass.
IMF STRUCTURE AND FUNDING
The International Monetary Fund appears to be a part of the
United Nations, much as the Federal Reserve System appears to be
a part of the United States government, but it is entirely independent.
It is funded on a quota basis by its member nations,
almost two hundred in number. The greatest share of capital,
however, comes from the more highly industrialized nations such
as Great Britain, Japan, France, and Germany, The United States
contributes the most, at about twenty per cent of the total. In
reality, that twenty per cent represents about twice as much as the
number indicates, because most of the other nations contribute
worthless currencies which no one wants. The world prefers
dollars.
One of the routine operations at the IMF is to exchange
worthless currencies for dollars so the weaker countries can pay
their international bills. This is supposed to cover temporary
"cash-flow" problems. It is a kind of international FDIC which
rushes money to a country that has gone bankrupt so it can avoid
devaluing its currency. The transactions are seldom paid back.
Although escape from the gold-exchange standard was the
lor >g-range goal of the IMF, the only way to convince nations to
Participate at the outset was to use gold itself as a backing for its
own money supply—at least as a temporary expedient. As Keynes
explained it:
I felt that the leading central banks would never voluntarily
relinquish the then existing forms of the gold standard; and I did not
desire a catastrophe sufficiently violent to shake them off