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$100 Billion Bailout For IMF Tagged On To War Funding
Bill
Passage would see more billions in tax dollars handed
to European banks
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Democrats in Congress have agreed to provide a $100 billion
credit line to the International Monetary Fund, tagging it onto
the war supplemental intended for operations in Afghanistan,
Pakistan, and Iraq.
The measure would also increase the U.S. member
contribution to the IMF by $8 billion and authorize the United
States to back the IMF's plan to sell 400 tons (12.97 million
ounces) of gold, according to lawmakers' aides quoted in a Reuters
report.
This would fulfil
Obama's pledge to the G20 in April, to contribute
toward a $500 billion boost for the IMF, which it says will
go toward "helping poorer nations" during the economic
downturn.
However, what the The Treasury Department is really
proposing is an international version of the Wall Street bailout;
a $100 billion bailout for the IMF, which amounts to a bailout
for European banks facing big losses in Central
and Eastern Europe.
If the bill pasess, we will see $100 billion
in U.S. tax dollars simply handed over to foreign banks with
no oversight.
House Republicans, including Minority Leader John
Boehner, have threatened
to vote no on the war funding if the IMF money
is attached.
"Let's be clear: a troop-funding bill should
fund our troops, period," said Boehner. "Weighing
down this critical legislation with nondefense spending will
only drag this process out further and cost it essential Republican
support needed for passage."
"We should not be having this discussion.
IMF funding has no business being included in the war supplemental"
bill, said Representative Eric Cantor, a member of the Republican
leadership.
The passage of the bill will be an extrememly
close run contest, given that GOP votes are needed to make up
for 51 anti-war Democrats who opposed it last month.
If all Republicans vote no, then the House leadership
will need 18 of the Democrats to reverse their defection and
vote yes.
Of course, because the IMF money is tagged onto a bill to fund
U.S. troops in the field, there is increased pressure on those
considering voting down the measure.
(Article continues below)
We have previously
highlighted the ongoing agenda to vastly empower
the IMF and transform the institution into a "bank of the
world" with the power to print its own currency.
This is not a "conspiracy theory".
As the Washington
Post highlighted two months ago, the agenda is
laid out in publicly available internal IMF documents, interviews
and think-tank reports.
It is part of an open move to empower a group
of unelected central bankers with the authority to usurp state
sovereignty by overseeing benchmarks for national economic governance
and setting regulations for financial institutions all over
the globe.
As we have also previously highlighted, both the
IMF and the United Nations have thrown their weight behind proposals
to implement a de-facto
global financial dictatorship.
Both bodies have expressed support for new world
reserve currency system to replace the dollar as part of the
acceleration towards a new economic world order.
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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