World Bank Whistle-blower: Karen Hudes

By Avalon 
Intellihub.com 
May 24, 2013

“When you turn on the television, whatever you’re watching has been filtered by those people!

So, we don’t have a Democracy here.

… my story is about being very close to Martial Law”

In one of the most significant interviews on International Finance and Banking, Karen Hudes, Former World Bank Attorney, talks about her experience working for the World Bank. Her actions to report on corruption at the World Bank led to her termination in 2007. Since then, she has been trying to get her story out to the public.

Although this story is complex, a few great points are listed in an article authored by Karen Hudes (with Jim Fetzer) at VeteransToday.com titled,The World Bank: Rejecting “The Rule of Law”

During the World Bank and IMF Annual Meetings last October, with her encouragement, the Development Committee informed President Jim Yong Kim of the need for “a more open, transparent and accountable World Bank Group.”  The reasons that motivated that request included the following series of disturbing developments:

During her research of The World Bank, she discovered that there are 43,000 Trans-National Corporations that control nearly everything and that these corporations are merged together into Conglomerate – a Super Entity. This fact translates into the recent  LIBOR Scandal.

Confirming what one sees in the world in terms of a coordinated plan to control all finance, Karen explains that this Super Entity controls 40% of the Net Worth of Publically Traded Corporations and 60% of the Net Earnings on the Capital Markets through their Interlocking Directorships.

Also, as many in the Alternative Media have known for years, there exists a  Mainstream Media Cover–Up of most criminality and corruption, including the 9/11 WTC Terrorist Attack on September 11, 2001, the Benghazi 9/11 Assassination of Ambassador Stevens, the Death of Seal Team 6 in retaliation for their knowledge of the Fake Bin Laden Killing, the Boston Marathon Bombing False-Flag and other recent events including the IRS Scandal that is unfolding now.

Whistleblower Karen Hudes [Pt.1] Corruption / World Bank Exposed 
Published on May 24, 2013 – 158 views on May 24, 2013 @ 4:00pm
Whistleblower Karen Hudes [Pt.1]

Corruption / World Bank Exposed
Interview – http://OneRadioNetwork.com

Karen Hudes – http://kahudes.net

Excerpting from the same article by Karen Hudes (with Jim Fetzer) The World Bank: Rejecting “The Rule of Law” adds more details to this emerging story:

Where things stand -

Dr. Jim Yong Kim, President of the World Bank, has refused to tackle the corruption.  He has even had me locked out of the World Bank’s headquarters.  On March 19, 2013, I reported to the World Bank, informing Allied Barton’s security personnel that I was duly reinstated by the shareholders of the World Bank.  Allied Barton illegally denied me a security badge.  An Allied Barton officer raised his voice to me.

The World Bank, under Dr. Kim’s presidency, called the DC police on a legal officer of the World Bank whose reinstatement was necessary in order to qualify for the US contribution to the World Bank’s capital increase. Notwithstanding that the World Bank refused to confirm any request to the police in writing in an attempt to evade accountability, I left the premises at the request of the DC police.  However, I did report to the 2nd District Precinct that the DC police had been derelict in their duties.

Republicans and Democrats in Congress have tried to expose the corruption to the American public by calling for an inquiry by the Government Accountability Office.  Congress has attempted to fight the corruption by refusing to disburse the World Bank capital increase until there is substantial progress in eliminating the effects of retaliation against whistleblowers who disclosed illegality and corruption.  The UK and EU Parliaments have also published testimony and held hearings on the corruption.

The World Bank has attempted to intimidate the World Bank’s Board members, which violates federal, state, and international securities laws.  Fortunately, a team of whistleblowers disclosed this corruption and lawlessness to state governors, attorneys general, and chief justices of state supreme courts.  State authorities, together with NATO and other allies, are attempting to prevent this corruption from lowering the US credit rating and causing a currency war between nations.

The situation in Cyprus appears to be growing increasingly more serious. The prospects for the World Bank itself are also increasingly in jeopardy, where Brazil, Russia, India, China and South Africa (the BRICS nations) are planning to create their own alternative World Bank. These consequences might well have been avoided had President Kim adhered to the principles of the rule of law, reinstated me and implemented appropriate accounting procedures.  That he has done none of these, alas, remains a cause of grave concern, where his past performance in relation to JFK is anything but reassuring.

Source:

Karen Hudes – World Bank Stakeholders

The World Bank: Rejecting “The Rule of Law”

Karen Hudes – Blowing the Whistle on the World Bank

The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to poor countries. It is the largest and most famous development bank in the world and is an observer at the United Nations Development Group.[2] The bank is based in Washington, D.C. and provided around $30 billion in loans and assistance to “developing” and transition countries in 2012.[3] The bank’s mission is to reduce poverty.[4]

Paul Dundes Wolfowitz (born December 22, 1943) is a former United States Ambassador to Indonesia, U.S. Deputy Secretary of Defense, President of the World Bank, and former dean of the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University. He is currently a visiting scholar at the American Enterprise Institute, working on issues of international economic development, Africa and public-private partnerships,[2] and chairman of the US-Taiwan Business Council.[3]

Disclaimer:

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*****

Avalon is an Investigative Journalist and Strategist working for Intellihub.com 

http://www.veteranstoday.com/2013/03/27/the-world-bank-rejecting-the-rule-of-law/

World Bank Whistle-blower: “Precious Metals To Serve As An Underpinning For Paper Currencies”

Karen2

I had the opportunity yesterday to speak with one of the western world’s most courageous and astute women, Karen HudesFormer Senior Counsel to the World Bank—now turned whistle-blower.

It was a powerful conversation, as Karen spent 20 years with the World Bank as an attorney and economist, before being “let-go” after reporting internal fraud and corruption.

During the interview Karen indicated that the world is rapidly changing, with western power structures breaking down, economic & political influence gravitating to BRICs nations, all amid a pending currency transition which will highly favor precious metals.

Starting out by discussing the shocking centralized power she witnessed while working at the World Bank, Karen explained that, “A study done by three [Swiss] systems analysts who used mathematical modeling [shows] how the [world's] 43,000 transnational corporations were being controlled through interlocking corporate directorates. There’s a group of 147 companies, most of them are financial institutions, and what they’ve done, is through the interlocking directorates, they control 40% of the net worth of these [43k] companies, and 60% of their earnings…so that group has been using the presidency of the World Bank as kind of a puppet to dominate the world—that’s [now] finished.”

A major shock to that centralized power base, according to Karen, was the recent move by BRICs nations leaders to bypass the World Bank for their financing needs, by establishing their own development bank. “As the BRICs [nations] economic power grows,” she explained, “they’re not going to be strangled anymore through the grabbing [of] their resources…So their decision to start their own development bank was their way of letting [world] governments know…that its time to end this corruption.” 

Major moves toward monetary independence are also being made by growing numbers of U.S. states, Karen added. She explained that, “The states are starting to have legislation recognizing gold and silver bullion as legal currency. This is [also] a very strong signal the states are sending to the federal government, that the time to get serious about ending the corruption in the financial system is now here.”

When asked her thoughts on what this all means for the world monetary system, Karen said, “What’s going to happen, is we’re going to have all the countries of the world, sit down and figure out what’s going to be the best, most orderly transition from the current system that we have, [which has] profound imbalance and unsustainable deficits…[this change] is going to happen as each country makes its preference known, because the system we have now is not transparent, and the biggest change [in the new system], is that there’s going to be transparency.”

That transparency may be found through a gold-backed currency system, Karen noted, as, “All of the countries of the world are going to allow precious metals to serve as currency, and this will be an underpinning for paper currency, [as] we’ll have both systems at the same time. This is my guess, as I mentioned—I am an economist.”

As a final comment speaking towards her difficult journey as a World Bank whistle-blower, Karen said, “I’ve been struggling now for years, to tell the American public what’s [been] going on. I haven’t gotten through, because this [financial] group has bought up the press and has been spreading disinformation systematically. That undermines the whole point of a democracy. How can voters vote without an informed opinion, without the information that they’re entitled too? So this strangle-hold on information is going to end in very short order.”
——

This was a powerful interview conducted with a great American patriot and honorable world citizen. Karen is setting an example for the history books, and her interview is required listening for global thinkers and market students.

To listen to the interview, left click the following link and/or right click and “save target as” or “save link as” to to your desktop:

>>Interview with Karen Hudes (MP3)

To learn more about Karen and support her work, visit: Kahudes.net

Enjoy the interview? Please support the site by sharing this URL page link with friends, family, and your favorite chat forum.

Thanks,
Tekoa Da Silva
Bull Market Thinking

Who is Karen Hudes?

Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.

What did Karen Hudes blow the whistle on?

In 2007 Karen warned the US Treasury Department and US Congress that the US would lose its right to appoint the President of the World Bank if the current American President of the World Bank did not play by the rules. The 66 year old Gentlemen’s Agreement that Europe would appoint the Managing Director of the IMF and US would appoint the World Bank President ended in 2010http://www.imf.org/external/np/cm/2010/042510.htm

In 1999 Karen reported the corrupt take-over of the second largest bank in the Philippines. Lucio Tan, a crony of Joseph Estrada, then President of the Philippines, acquired stock owned by government employees in Philippines National Bank (“PNB”) valued more than 10% of PNB’s outstanding capital without disclosure, as required by Philippines securities laws. Tan owned Philippines Airlines, in default on its loans from PNB. The government of the Philippines loaned $493 million to PNB after PNB’s depositors made heavy withdrawals. $200 million of a loan from the World Bank and a $200 million loan from Japan were cancelled. Estrada was ultimately impeached, and in 2007 an anti-corruption court in the Philippines required Estrada to refund graft he had plundered. The Bank’s Country Director in the Philippines reassigned Karen when she asked him to sign a letter warning the Philippines’ government that the Bank could not disburse its loan without a waiver from the Board of Executive Directors since the loan conditionality was not met. The World Bank’s Internal Audit Department refused to correct the satisfactory evaluation of the Bank’s supervision performance or the flawed report of the Institutional Integrity Department to the Audit Committee of the Board of Executive Directors. When the Audit Committee requested an audit of internal controls over financial reporting, KPMG, the external auditors, circumscribed the scope of their audit in violation of Generally Accepted Accounting Principles and Generally Accepted Auditing Standards.

Two days after informing the Board’s Audit Committee of the cover-up in the Philippines, Karen was reprimanded and placed on probation. The Dutch Ministry of Foreign Affairs requested the World Bank’s Audit Committee to look into the cover- up. Instead, the Chair of the World Bank’s Audit Committee requested an inquiry into the World Bank’s Institutional Integrity Department. The Senate Committee on Foreign Relations followed up with three letters to the World Bank. The World Bank forged documents and fired Karen in contempt of Congress. The World Bank also fired the Staff Association’s lawyer. The Staff Association stated that what had happened to Karen had damaged staff morale and prevented others from reporting misconduct. The World Bank’s Ethics’ Officer left in frustration after her request for an investigation by the World Bank’s Institutional Integrity Department was turned down.

Mr. Paul Volcker headed the 2007 inquiry into the Institutional Integrity Department. The Volcker Panel was discredited after sixteen staff employed in the Institutional Integrity Department received significant damage awards in compensation for abuses of authority to intimidate them during the Volker Panel investigation. A staff-member of the EU’s anti-fraud agency, Office Lutte Anti-Fraude, on the Volcker Panel wrote to Karen:
“My Director General and I met with a number of European Executive Directors of the World Bank a few weeks ago to discuss the Volcker Panel report. At the meeting there was also discussion about governance issues. My impression was that the European Executive Directors are well apprised of all relevant issues at the Bank and no further comment by OLAF is warranted even if it was within our legal competence.”

Karen informed Senator Bayh, “[t]he ongoing cover-up is an indictment of the probity of US oversight at the Bank and I would encourage the Senate to request GAO to look into it.” Senators Richard Lugar, Evan Bayh and Patrick Leahy requested GAO to investigate “internal resistance to increased transparency and accountability at the World Bank.” http://citizenoversight.com/pdf/blwb.pdf In 2008 Karen’s Congressman, Representative Chris Van Hollen, noted “that [Karen's] claims and concerns have already been provided to the GAO…. and to the relevant congressional committees.” In 2009 GAO stated that it could not commence the inquiry “because of challenges we recently faced in gaining access to World Bank officials.” Senator Lugar asked what was delaying the GAO review during hearings on the World Bank’s capital increase.

Mr. Pieter Stek, then Executive Director for the Netherlands, and Chair of the Board Committee on Development Effectiveness, said:
“In a multilateral institution which should be governed by the rule of law and high standards of probity the charge of concealment from the Board of Executive Directors of information relevant to the exercise of its duty of supervising management and the persecution of the person who brings this to light is extremely serious. If correct, which I believe, this poisonous cocktail undermines good governance and ultimately the effectiveness of the Bank in fulfilling its mandate. I shall continue to assist Ms. Hudes in her efforts to have due process brought to bear, preferably by the Bank itself, on these issues of governance.”

David Brooks wrote:
“Then there are violations, when someone intentionally breaks the rules. Errors can be very hard for outsiders to detect. It was people inside the companies who were most likely to report fraud, because they have local knowledge. And yet 80 percent of these whistleblowers regret having reported the crimes because of the negative consequences they suffered. This is not the way to treat people who detect error.” http://brooks.blogs.nytimes.com/2011/06/13/living-with-mistakes/?comments#permid=34

Karen Hudes, the IMF/World Bank Whistleblower, AJ Show & IFW Nightly News: May 28, 2013

World Bank Whistleblower Attacked By DOJ

http://youtu.be/tKxyYZeaNxY
TheAlexJonesChannel
Published on May 28, 2013

Senior Counsel for the World Bank legal department reports corruption to US Congress, the World Bank’s other member countries, and the public.

https://twitter.com/KarenHudes

Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.

What did Karen Hudes blow the whistle on? In 2007 Karen warned the US Treasury Department and US Congress that the US would lose its right to appoint the President of the World Bank if the current American President of the World Bank did not play by the rules.

http://kahudes.net/
http://www.infowars.com/
http://www.prisonplanet.com/
http://www.infowars.net/
http://www.prisonplanet.tv
https://twitter.com/RealAlexJones
https://www.facebook.com/AlexanderEmerickJones

Last 45min of the show:

Karen Hudes on The Alex Jones Show: Tuesday (5-28-13)

http://youtu.be/xcv93Dp1wCA
ConspiracyScope
Published on May 28, 2013

On the Tuesday, May 28 edition of the Alex Jones Show, Alex covers the increasing furor over Obama’s multiple scandals and the corporate media blackout over the massive anti-Monsanto protests on the weekend. Alex also takes a look at John McCain’s surprise visit to the CIA’s al-Qaeda mercenaries who are attempting to overthrow the al-Assad regime. He also confronts the refusal of the establishment media to cover the upcoming Bilderberg meeting. Alex speaks with Karen Hudes who worked for 20 years in the World Bank’s legal department. Ms. Hudes is a whistleblower involved with the laundry list of corruption that has begun to rear its head in The World Bank. On today’s worldwide broadcast, Alex confronts to globalist cabal as it cranks up the heat on the world economy and exploits the war on terror to increase the police state at home.

http://kahudes.net/
http://www.infowars.com/
http://prisonplanet.tv/news/
http://conspiracyscope.blogspot.com/

World Bank: Money Laundering Criminals | Interview with Whistleblower Karen Hudes

Published on Jun 21, 2013

Abby Martin talks to Karen Hudes, former senior executive at the World Bank, about her experience blowing the whistle on the high level corruption within the international financial system and how her story was censored.

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FOLLOW Abby Martin @ http://twitter.com/AbbyMartin

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