IMF Ruins Stability

A Confused Congressman

by Hanno Beck

That sounds pretty clear. Now test yourself:

It's pretty obvious, isn't it? So of course the politicians get it wrong. Here's a very sad example.

Congressman Benjamin Cardin (D-MD) is often considered a pretty good fellow. He holds powerful positions on committees, enjoys the friendship and respect of Presidential candidates, and responds to his constituency. Insiders mention his name as a plausible Vice Presidential choice in the year 2000. Cardin has a rather safe seat, so he's able to give his actual views without worrying over the next electoral campaign. He has, at least once, been supportive of legislative efforts by geoists.

But here's a real "oopsy" by Rep. Cardin. In a February 19 letter explaining his support for IMF bailouts for wealthy international investors, he writes:

Historically, the United States has helped finance the IMF as well as other global institutions like the United Nations and World Bank. US funding for these organizations helps maintain global economic and political stability which benefits US interests worldwide.

Those are Cardin's reasons. Do you see the mistakes?

Okay, the USA has helped to finance the IMF in the past. That is true. We are supposed to learn things from history. It is not the purpose of history to bind us to doing whatever we did in the past. Historically, this nation allowed slavery. Does tha t affect whether slavery is a good or bad idea today? Of course not. The fact that we have wasted taxpayer dollars on bailouts in the past is not a reason to make more bailouts in the future.

Just as bad, Cardin thinks that propping up failures equals stability -- but, as we have seen above -- that isn't what the word means. The simple truth is that the IMF ruins stability, and powerful interests in the USA don't care. They aren't concerned with stability as much as with continuing their government-protected monopoly profits.

Higher taxes and fewer jobs are not "US interests worldwide."

Powerful interests will always try to socialize their costs of failure, passing costs along to the taxpayers. But citizens are waking up and working for true stability, which means democracy and geoism. During the next few years the "pass the bill" socializers will find it tougher to hold on to their monopolies as their system of privilege comes under increasing attack.

We hope that Ben Cardin will be among the first to throw off the monopoly's brainwashing and lead us to a future that works for everyone.