“Removal from the (terror-sponsor) list is also a first step toward Cuba’s…eventual membership in the International Monetary Fund and access to development assistance through the World Bank.” (Jason Marczak, deputy director of the Atlantic Council’s Adrienne Arsht Latin America Center.)
“What has the American taxpayer received in return for billions of dollars siphoned through the International Monetary Fund to deadbeat governments? Nothing but ill will from abroad. First, the IMF’s policy of lending millions, or billions, to fiscally mismanaged governments is counterproductive: Such bailouts help to prop up inept and/or corrupt governments. Second, bailouts create moral hazard, inducing private corporations and banks to lend funds to poor credit risks, confident that IMF funds will make them whole.”
“By funding the IMF (International Monetary Fund) the United States is actually losing money because it borrows cash at one rate (bonds) and invests it at a lower rate (IMF). The Congressional Research Service has calculated that in this way the IMF has added at least $4.6 billion to the national debt.”
From an excellent article by the very CATO Institute fellow who supports removing Cuba from the terror-list and lifting the so-called embargo, as expounded in his debate with our Dr. Carlos Eire.
Some of the best arguments against the very existence of the World Bank and International Monetary Fund and detailing their unconstitutional pillage of the U.S. taxpayer are crafted and disseminated by libertarian scholars and libertarian institutions. In general, these scholars and institutions are also strict constitutionalists, thus proponents of a strict separation of powers between the U.S. government’s executive and legislative branches.
But all of these libertarian scholars and institutions applaud Obama’s executive orders giving Bankrupt/Stalinist/Deadbeat Cuba access to the International Monetary Fund and World Bank.
