The IMF’s Initiatives

Many people do not know what the International Monetary Fund (IMF) is or what they do. The IMF was created in 1944 and is the world's central organization for international monetary cooperation. It has over 185 countries that are members and it oversees the Global Financial System, which many people don’t even know exists. Each member of the IMF has a quota allocated to them. The quota is a member's subscription in the IMF, or what a country must pay to "belong" to the IMF. A member must pay its subscription, or quota, in full to the IMF; up to 25 percent must be paid in reserve assets as specified by the Fund. They have created a global currency called Special Drawing Rights (SDR’s) that is used, and many countries contribute usable currencies like dollars, deutsche mark, pounds, yen etc. The IMF also has large amounts of gold assets, which they are in the midst of selling over 400 metric tons into the markets. Getting rid of their gold and continuing with more paper assets, does that sound like a good strategy for the world’s central organization for international monetary cooperation. There must be a reason! This is an organization that is working to lead the world into global financial recovery and they are endorsing things such as spending less on health, less help for the elderly and raising taxes. (See http://www.ctv.ca/CTVNews/Canada/20100601/canada-20-bank-tax-100601/) How about less government spending in areas that do not affect our health, elderly or taxes! What about eliminating some of the special interest groups, lowering large government pensions and salaries, and eliminating some of the bureaucracy that so much is spent on! The trends that we are in are quite clear; more money in government hands, less in the people’s hands and steps to a one world government in control!