April 22, 2010
The IMF gets greedy, again
First, read this:
Wall Street Journal: G20 Should Impose Taxes on Financial Sector
Compelled by the "American Homeownership and Economic Opportunity Act of 2000" to lend large sums of money to people who could not repay it, the banks and lending institutions of America lost hundreds of billions of dollars when all those mortgages came due and could not be repaid. The "housing bubble", created in part by the federal government attempting to micromanage the free market, collapsed a mere six years later sending shockwaves throughout the world.
Government intervention in the housing market created the conditions that led to the global recession we just passed through. Maybe we're finally coming out of it, maybe we are in the eye of the storm and the worst is still ahead. Either way, more government intervention, especially on a global level, cannot help.
If the United States Federal government allows the IMF to tax you and I, then we are no longer a sovereign nation. While I do not believe in "evil globalists", I do believe in misguided and ambitious globalists, many of whom work at the IMF, originally founded to provide credit to emerging industrial countries like Zimbabwe, Somalia, Libya, and even North Korea. On the flipside, Tanzania and Kenya are success stories that can also be attributed to the IMF. Nonetheless, there is nothing in the United States Constitution that would authorize Congress to ratify a global tax on American banks, a tax that will be passed on to you and I in the form of increased banking fees.
You know we're living in an world gone insane when the conspiracy theorists are the only ones who see what's happening and recognize it for what it is!
But don't take my word for it: Search Amazon.com for books about the history of the IMF