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IMF Explained for Dummies w/ Humor

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First published at 14:12 UTC on October 5th, 2019.

#imf
#international
#monetary

Hypocrite Twins

HypocriteTwins

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If you know nothing about this, then this video can definitely teach you the basics.

The International Monetary Fund (IMF) was originally formed to help administer the gold standard. But in 1971 Richard Nixon took the US off the gold standard in w…

If you know nothing about this, then this video can definitely teach you the basics.

The International Monetary Fund (IMF) was originally formed to help administer the gold standard. But in 1971 Richard Nixon took the US off the gold standard in what became known as “Nixon Shock”. Although the IMF’s original purpose was gone, the organization morphed to a new goal of currency stabilization in a floating rate regime through emergency loans.

This may sound in theory like a good stabilizer for the financial system, but in practice, it failed miserably. In 1995 there was a Mexican peso crisis dubbed the Tequila crisis and in 1997 an Asian currency crisis. What happened? Why did the IMF fail? You have to see this episode!

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