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Patrick Buchanan: The Dirty Old Man And The IMF – OpEd

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Saturday was a bad day for the New World Order.

New York police boarded the first-class 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-a-night 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.

Monday, The New York Times wrote, “As the impact of Mr. Strauss-Kahn’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 his Eurotrash reputation approved by the United States government? Such conduct may be pooh-poohed 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-a-night 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.

Saturday 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 J Buchanan

Patrick J. Buchanan is an American conservative political commentator, author, syndicated columnist, politician and broadcaster.

One thought on “Patrick Buchanan: The Dirty Old Man And The IMF – OpEd

  • June 20, 2011 at 6:56 pm
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    During my wandering around the globe I happen to live in England at the time of the US dollar crisis 1973 when American tourist and other traveler had to line up at the American Embassy to get some money to pay for food at the soup kitchens. To my best recollection this had to do with US business eagerness to sell all wheat through different channels to Russia and not find out the buyer until the larder was empty. Than Nixon put an agriculture embargo on export causing panic in Japan who suddenly was not able to import the food staple of soy which is cherished in Japan as turkey is in USA on July 4th. Concerning IMF I will give a rundown of what the banker J. Pierpont Morgan thought about rate of exchange as a he spelled it out to a compatriot of mine 1914 in Cairo just before his death in Rome shortly thereafter. The person he spelled his beans to was a steel mill owner in Sweden who had been persuaded to take over the Embassy in Washington1906 and befriended Morgan and Rockefeller during this time. Anyhow Morgan opened up his conversation in Cairo by complaining that he probably was taken for a ride by the Egyptian excavators he was paying for. Morgan also mentioned the finance crisis 1907 when they first met and continued with the problem with the gold standard and suggested that America would soon own all gold in the world. Questioned what Morgan would suggest as a replacement. Morgan answered that this had kept his mind occupied for a long time and he wanted to suggest a World Bank that would allocate to each country a credit worthiness as collateral for its money printing. My compatriots’ objection as to who would ascertain a countries assets and the fact that many countries would not accept that another country could decide the amount of bills printed which anyhow would be interfering in any countries suzerainty or independence was answered by Morgan with a harsh –“Ash, they will have to accept what we decide!
    Morgan’s vision came through 1944 with the creation of the World Bank and IMF both institutions with a large American voting share, one would almost say that they are dominate by USA, one lending out US surplus earnings, not least from the World War and the other to ensure that debts are repaid to USA.
    It is not only US that passed this DSK for his position also England and France were responsible or basically the larger countries on the winning side against Germany. Other countries have basically no say in the affairs of World Bank and IMF due to the slanted voting rights imposed by in 1944.Concerning US banks and tax payer bailing out European banks and nations, believe we Europeans have bailed out the American economy on several occasions. Would like to congratulate Buchanan on the compilation of the “Unnecessary war” which tally very well with my findings over the past 50 years and have put my mind at rest of a statement by a young German boy I worked with 1947. He stated unvocalized to my shocked ears that Winston Churchill was a warmonger (his sister was raped and killed by Russians at Zoppot outside Gdansk).

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