It’s fi­nally time to shut down the IMF

The Washington Times Weekly - - Commentary - Pat Buchanan

May 14 was a bad day for the New World Or­der. New York po­lice boarded the first­class cabin of an Air France jet bound for Paris to col­lar Do­minique Strauss-Kahn, the head of the In­ter­na­tional Mon­e­tary Fund, a Grand Mas­ter of the Uni­verse and the So­cial­ist Party’s hope to de­feat Pres­i­dent Ni­co­las Sarkozy in 2012.

Strauss-Kahn, or DSK as he is known, was hauled back to New York and iden­ti­fied in a po­lice lineup by an African maid at the Sof­i­tel ho­tel as the man who emerged stark naked from the bath­room of his $3,000-anight suite and tried to rape her.

DSK’s po­lit­i­cal al­lies are howl­ing en­trap­ment. Yet his rap sheet is long. Called the Great Se­ducer, he was charged with the sex­ual ha­rass­ment of a co-worker at the IMF and ac­cused by a young French nov­el­ist of be­hav­ing like a “rut­ting chim­panzee” and try­ing to rape her when she con­tacted him about a book she was writ­ing in 2002.

The nov­el­ist, Tris­tan Banon, now 31, is a god­daugh­ter to DSK’s sec­ond wife.

She took a lawyer’s ad­vice not to file charges then. But, says the Guardian, Banon is about to file them now.

The New York Times wrote, “As the im­pact of Mr. StraussKahn’s predica­ment hit home, oth­ers, in­clud­ing some in the news me­dia, be­gan to re­veal ac­counts, long sup­pressed or anony­mous, of what they called Mr. Strauss-Kahn’s pre­vi­ously preda­tory be­hav­ior to­ward women and his ag­gres­sive sex­ual pur­suit of them, from stu­dents and jour­nal­ists to sub­or­di­nates.”

What is this satyr do­ing run­ning the IMF?

How was a man of StraussKahn’s Euro­trash rep­u­ta­tion ap­proved by the United States gov­ern­ment?

Such con­duct may be pooh­poohed over the pond, but has our coun­try dropped that low?

As is not in­fre­quently the case, Rep. Ron Paul nails it: “These are the kind of peo­ple run­ning the IMF, and we want to turn the world’s fi­nances and the con­trol of the money sup­ply (over) to them?”

In­deed, there are is­sues here far be­yond the corruption of char­ac­ter that drives aging com­pul­sive lech­ers to crim­i­nal­ity when their prey re­sist. One of those is­sues is: Why is the IMF still be­ing funded by the United States?

With the World Bank, the IMF was birthed at Bret­ton Woods, N.H., in 1944. In the mon­e­tary or­der es­tab­lished there, the U.S. dol­lar would be tied to gold, and the free world’s cur­ren­cies would be tied to the dol­lar, all at fixed rates of ex­change.

All would con­trib­ute funds in their own cur­rency to the IMF. Amer­ica would make the largest con­tri­bu­tion. As its birth­day gift, Un­cle Sam gave the IMF 103 mil­lion ounces of gold.

When mem­ber na­tions faced bal­ance-of-pay­ments prob­lems and had to de­value, the IMF would tide them over with bridge loans.

The loans would be re­paid as the trou­bled na­tions’ re­duced ex­change rate led to ris­ing ex­ports and re­duced im­ports.

The sys­tem worked un­til 1971, when through a se­ries of guns-and-but­ter bud­gets dur­ing Viet­nam, the world ac­quired an im­mense pile of ex­cess dol­lars. The Bri­tish de­cided to cash in sev­eral bil­lion for U.S. gold.

No way, said Pres­i­dent Nixon.

He slammed the gold win­dow shut, cut the dol­lar loose and let it float against the world’s cur­ren­cies.

The Bret­ton Woods sys­tem of fixed ex­change rates was dead.

And the IMF, es­tab­lished to main­tain it, should have died with it.

It did not, for as Ron­ald Rea­gan re­minded us, the clos­est we come to eter­nal life on this earth is a gov­ern­ment pro­gram.

For 40 years, the IMF has sol­diered on, backed by both par­ties, ply­ing its new trade, end­less trans­fers of U.S. and West­ern wealth to bail out fail­ing non-West­ern and anti-West­ern na­tions.

Un­der DSK, the IMF took on a new role that en­chanted Europe.

It joined with the Euro­pean Cen­tral Bank to pro­vide hun­dreds of bil­lions to bail out Greece, Ire­land and Por­tu­gal, so these na­tions would not de­fault on their debts and bring down the Euro­pean banks that are stuffed full of Greek, Ir­ish and Por­tuguese bonds.

Through the IMF, U.S. tax­pay­ers are bail­ing out Euro­pean na­tions to save Euro­pean banks, just as U.S. tax­pay­ers, through the Fed­eral Re­serve, se­cretly bailed out Euro­pean banks through­out 2009 and 2010.

This is why the so­cial­ist Strauss-Kahn was a hero in the cap­i­tals of Europe.

He was their agent in our cap­i­tal.

Con­sider the win­ners and losers of this globalist racket.

The peo­ple of Greece, Ire­land and Por­tu­gal en­dure aus­ter­ity and re­ces­sion for years, while the Euro­pean banks are as­sured 100 cents on the dol­lar for their bonds.

And the deal-mak­ers like DSK are put up at $3,000-anight ho­tel rooms, fly first class and get tax-free salaries larger than those of the pres­i­dent of the United States, cour­tesy of the U.S. tax­payer.

On May 14 at the Sof­i­tel, we saw up-close the sense of ar­ro­gance and en­ti­tle­ment such priv­i­lege in­duces in our global elite. Time to shut down the IMF and get back what’s left of our gold.

Pa­trick Buchanan is a na­tion­ally syn­di­cated colum­nist.

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