Those who read my book, Our Dying Republic,
will recognize the discussion in this article. What is really
important for all of us to understand is that the IMF is but one of
several international institutions run and staffed by unelected
bureaucrats. These agencies are generously funded by governments around
the world after extorting those funds from lowly taxpayers. As Daniel
Mitchell points out their record of performance is less than
spectacular. In fact, they no longer do the job they were chartered to
do (help countries in financial distress). Not infrequently their
lending tactics actually hurt the countries they supposedly help. The
evidence is the increasing number of failing states around the world.
Yet our government has and continues to provide the IMF (and the BIS
(the world's Central Bank, etc) an endless flow of funds from an ever
decreasing number of federal income tax paying Americans. I applaud the
congress for putting America first for once in denying IMF funding
(even if the reason of political more than rational). I also hope it is
the start of a trend away from squandering more of the money our
nation/economy so badly needs. The meddling in sovereign state affairs
by the UN, BIS, IMF and other taxpayer funded international but
unaccountable agencies is pure lunacy. My guess is that if they would
just go away things would be a whole lot better. George Burns
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