Monday, May 16, 2011

IMF In Trouble

IMF chief Strauss-Kahn charged with attempted rape
IMF chief and possible French presidential candidate Dominique Strauss-Kahn was charged Sunday with a criminal sexual act, attempted rape, and unlawful imprisonment of a hotel maid in New York City.

This provides an opportunity to ask the obvious question, "Why does the IMF have so much influence?"

From the Daily Bell:
Our view, extreme as many might think it, is that if every UN agency vanished from the face of the earth, the globe would be a much better place. That includes non-UN agencies like the World Bank and BIS. The IMF in particular does nothing but wreak havoc on people unlucky enough to be living in nations where their psychopathic leaders have squirreled away billions leaving their countries unable to pay their bills.

The IMF's prescriptions are always the same – and never work. Taxes are raised, services are cut and national assets are sold off to favored (Anglo-American) bidders. If leaders don't go along, their countries are bullied.

Paul, who makes no secret about his disgust of IMF policies, said Strauss-Kahn demonstrates why the Fund has problems.

"These are the kind of people that are running the IMF and we want to turn the world finances and the control of the money supply to them," Paul said. "That should awaken everybody to the fact that they ought to look into the IMF and find out why we shouldn't be sacrificing more sovereignty to an organization like that and an individual like he was."