Why are we part of the IMF? Relations is the most common answer to this question. But why would we give up any of our monetary sovereignty to an international organization?
Let us look at it this way. If you were the richest man on the block, would you agree to join a group in which you would help your neighbors fix up their yards? Or help in case they get into trouble? Although this may get you on good terms with your neighbors, it’s not exactly business smart.
This is exactly what we have done. Why should we let any other country handle how we spend our money? It doesn’t make any sense. And if we do want to help the betterment of society, let the private sector do it. There are plenty of tax incentives providing good reason for them to.
Now we are fronting a big part of the bill for the European bailouts. What’s wrong with this picture? We shouldn’t be responsible for their mistakes nor should anyone have to deal with ours. Sadly, there will probably be more bailouts to come.
Bottom line is Congress should have never given up any portion of there control over US spending. Whether it was for the Federal Reserve (not truely federal, common knowledge nowadays) or the IMF.
Photo by codepinkhq
{ 0 comments }