Re: [A-List] IMF Mandates Currency Instability

["Anne Williamson" <annewilliamson@xxxxxxx>]

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The IMF Mandates Currency Instability

By

Lawrence Parks
June 8, 2002

Our hero in the Congress, the Honorable Dr. Ron Paul, MD, of Texas, has
struck another powerful blow for ordinary people worldwide. He has
challenged Secretary of the Treasury, the Honorable Paul O'Neill, as well as
the Chairman of the Board of Governors of the Federal Reserve, Dr. Alan
Greenspan, to explain the public policy justification for the International
Monetary Fund's prohibiting member countries from linking their currencies
to gold, and only to gold. So far, neither Mr. O'Neill nor Dr. Greenspan has
responded. (see: An Open Letter to O'Neill and Greenspan May 31, 2002)

Thus, a country such as Argentina, which has had multiple currency collapses
in recent memory, and is desperate to have a stable currency may, under the
IMF Articles of Agreement, Section 4-2b, link its currency to biscuits or
sour pickles, but not to gold. Why this restriction?

The true answer, of course, is that the financial elite recognize that
gold-as-money is in competition with the fiat (arbitrary)
paper-ticket-electronic money that they create out of nothing, and at great
profit to themselves, and they want their fiat money to win the competition.

At the national level, they have gotten every country to implement legal
tender laws, a.k.a. forced tender laws, for which there is absolutely no
basis under the Constitution, and, thus, should be void, whereby virtually
worthless substances are arbitrarily assigned value as money by being
gussied up with signatures and seals, legal tender notification, and the
admonition that they are somehow obligations of the issuing authority. At
the end of the nineteenth century, Labor, at least, was alert to this
injustice and asked the key questions:

If our money is good money and would be preferred by the people, then why
are legal tender laws necessary? If our money is not good money, and would
not be preferred by the people, then why in a democracy should they be
forced to use it?

The restriction in the IMF Articles of Agreement merely extends this blatant
exercise in tyranny to the whole world, thereby using the monetary system to
transfer the real wealth of society from those who produce it, mostly
ordinary working people, to those who create money out of nothing, the
banking system, and to those who get transaction fees for moving it around,
the Wall Street community.

Dr. Paul deserves great thanks for his heroic quest to help return the U.S.
and the rest of the world to an honest monetary system.



CONTACT INFORMATION

Larry Parks, Executive Director

FAME,501(c)(3)

Box 625, FDR Station,

New York, NY 10150-0625


Phone:212-818-1206

Fax: 212-818-1197

Lparks@xxxxxxxx

www.fame.org