The IMF can literally conjure any amount of money out of thin air whenever they feel like it wtf how have I never heard about this
And before you ask, yes, almost all money created goes straight into the coffers of western countries instead of to the global south
True, but it’s especially egregious here because the IMF is one of the biggest institutions responsible for trapping countries in debt. But literally this entire time, it could have just created and allocated SDRs to them instead. Poofing money into existence isn’t something that a regular bank can do, but the IMF can, and I’ve never seen this aspect discussed before.
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only 24 banks are allowed to deal directly with the fed