March 19, 2004

Your Tax Dollars at Work. Your taxes are enormous. Well, what the hell does George Bush and the Congress do with all that money? Well, one thing they do, is they ship it off to the IMF, which then gives it away to places like Argentina, a country run by ideological kooks and incompetents. There's no reason to be happy with Bush or the Congress about this. Here is more about the IMF and Argentina's mismanaged government. Quotable: "Throughout almost the entire period .. the present Buenos Aires has been subject to Fund assistance and oversight. From the outset the relationship can best be portrayed as one between an alcoholic and bartender, with the latter (the IMF) unwilling or unable to temper the former's (Argentina) zeal for binge drinking (borrowing) .. a nascent central bank charged with rescuing feckless governments and the private international financial institutions that underwrite sovereign debts, the IMF accomplishes its mission by funneling member state contributions (quotas) to distressed borrowers, in the process imbuing moral hazard in both parties. In other words, this international organization lends contributions supplied by governments, whose quotas are met via the involuntary confiscation of property (taxation), to recipient states in order that the beneficiaries continue to service public debts to private lenders, also a nefarious compact that entails violating the property rights of a third party. This facet of the international financial architecture is nothing more than systematic pilfering."

In short, Bush and the Congress steal your money and give it to Citibank and the Argentinians. True and truly outrageous. Posted by Greg Ransom | TrackBack