World Bank director claims Federal Reserve is ‘part of government already’

As the worm squirms.

You Tube | October 10, 2008

Uri Dadush, Director of the Economic Department of the World Bank, takes a call on C-SPAN's Washington Journal and tries to run out the clock.

(more)

A caller on C-Span’s Washington Journal asserts that Congressman Ron Paul and Infowars.com are better sources to understand the current financial crisis than the dominant mainstream media and typical go-along political figures.

The caller also brings up the Federal Reserve as being the main issue that Washington needs to address.

Uri Dadush, Economic Department Director of the World Bank, seems stumped by the mention of the Federal Reserve, which he claims is ‘part of the system of U.S. government already’, before redirecting the conversation towards liquidity efforts in the private banking sector.

Dadush misses the point– perhaps out of confusion, and perhaps out of reluctance to discuss– that the Federal Reserve (which is private, but given power [unconstitutionally] by Congress) controls the money supply and can print at will.

Uri Dadush

http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:20025856~menuPK:34490~pagePK:36880~piPK:36882,00.html

Director, International Trade Department Specialization:
global economy, multinational enterprises, international trade and financial flows
Languages:
Italian, English, French, Hebrew
Related Links:
• Prospects for Development
• Global Economic Prospects 2008
• Global Development Finance 2007

Uri Dadush, a French national, became Director of the International Trade Department of the World Bank in July 2002. This department provides a single venue for accountability for trade-related work in the institution. In this position, Mr. Dadush is also responsible for managing the Development Prospects Group. This Group is responsible for analysis and projections of the world economy and financial markets and their implications for developing countries.

Mr. Dadush was previously Chair of the Economic Policy Sector Board and Director of Economic Policy.
Prior to joining the World Bank in 1992, Mr. Dadush was President of the Economist Intelligence Unit, part of The Economist Group, from 1986 to 1992. He was Group Vice President, International, for Data Resources, Inc., from 1982 -1986. He has also worked as a consultant with McKinsey and Co. in Italy and Denmark.

Mr. Dadush received B.A. and M.A. degrees in Economics from Hebrew University and a Ph.D. in Business Economics from Harvard University, where he specialized in International Trade.

To reach this expert, please contact the World Bank’s Media Division .
Updated September 24, 2008