Whatever the probability of a recession, it is inevitable that, sooner or later, under its current rulers, the U.S. economy will go bankrupt, leading to a reorganization under the “global leadership” of the International Monetary Fund (IMF) and the World Bank.
Such a development will result in an international socialist state, including a global minimum tax on U.S. corporations (and consumers) and then a global tax on individual Americans and their stocks, mutual funds, and pensions.
My 1997 book Global Taxes for World Government explains how it will come about.
In this context, as bankruptcy approaches, the IMF has published a working paper, dated August 2000, “The Case against Harry Dexter White: Still Not Proven,” by James M. Boughton, arguing that the founder of the IMF was not a Soviet espionage agent in the U.S. government. This is an important topic since there are major implications if we discover that the “international order” supposedly developed by the United States at the end of World War II was really designed to serve the interests of world communism.
White had served as Director of the Division of Monetary Research at the Department of the Treasury.
Former Communists Whittaker Chambers and Elizabeth Bentley accused White of having been a Soviet agent while in government. The VENONA communications, which exposed a massive Soviet espionage effort against the U.S., unmasked such traitors as State Department official (and UN founder) Alger Hiss, Department of Justice official Judith Coplon, and Harry Dexter White.
However, the IMF describes him this way: Harry Dexter White profoundly influenced both the design of the IMF and its development, yet his important work is not widely appreciated today. The fiftieth anniversary of his death offers an opportunity to review his accomplishments and career.”
James Boughton, a former IMF historian who wrote the report on White, acknowledges, “Without question, Harry Dexter White was one of the two great intellectual founders of the IMF and the World Bank.”
Boughton went further, writing an entire book defending the Soviet agent against charges he was a Soviet agent. Published in November 2021, it was titled Harry White and the American Creed: How a Federal Bureaucrat Created the Modern Global Economy (and Failed to Get the Credit).
“In this book,” says the publisher, Yale University Press, “James Boughton rehabilitates White, delving into his life and work and returning him to a central role as the architect of the world’s financial system.”
Allan Ryskind, a columnist and former editor and owner of Human Events, says Boughton has viciously and dishonestly lied about former communists Elizabeth Bentley and Whittaker Chambers, who revealed the existence of the communist espionage network that included White, as well as UN founder Alger Hiss.
In an article for Newsmax, Ryskind says Boughton's book “is packed with astonishing ignorance, disproved allegations and untruths that are easily exposed. The result is that Boughton cannot be believed about anything he writes….”
So why is there an effort to rehabilitate White and his IMF?
As I have noted in my books on the United Nations, the IMF has always been viewed as the beginning of a new global regulatory body that could eventually impose and collect a currency transactions tax known as the Tobin Tax, named after the late Yale University economist, James Tobin.
Steven Solomon, a former staff reporter at Forbes, says in his book, The Confidence Game, that such a proposal “might net some $13 trillion a year…” because it is based on taking a percentage of money from the trillions of dollars exchanged daily in global financial markets. Such transactions are commonplace on behalf of Americans who have stock in mutual funds or companies that invest or operate overseas
Americans might be surprised to learn that the IMF already supervises the U.S. economy and issues a “country report” on the U.S. economic system.
“A core responsibility of the IMF is monitoring the economic and financial policies of member countries and providing them with policy advice,” the global agency openly says.
It is now happening with an anti-American and pro-China bent.
Interestingly, IMF boss Kristina Georgieva was accused of pressuring staff to manipulate the 2018 “Doing Business Report” to favor China while she was the Chief Executive Officer of the World Bank.
Rep. French Hill, (R-AR), Vice-Chairman of the House Financial Services Committee, urged her termination and said China was indeed playing a key role: “Despite its lack of commitment to playing by the rules, the Chinese Communist Party feels entitled to greater influence in our multilateral institutions like the IMF, World Health Organization, and United Nations, and certainly doesn’t need the assistance of anyone to tilt the playing field in their favor.”
“At the time” of the scandal, said a release from the office of Rep. Andy Barr (R-GA), “Georgieva was allegedly attempting to convince the Chinese Communist Party (CCP) to increase financial support to the World Bank.”
“Georgieva has built a reputation at the World Bank as a champion of gender equality and leader in the global fight against climate change,” said a Reuters dispatch. In other words, she serves the interests of the “woke” American corporate and global elite working in cahoots with the global agencies and the communists and socialists who run them.
Meanwhile, the United Nations General Assembly is planning a summit in September 22-23, 2024, to unveil an “action-oriented” Pact for the Future that will include changes to the “global tax architecture.”
A global tax is in America’s future because the United Nations, the IMF, and the World Bank are, in effect, functioning as communist front organizations.
The views expressed by RenewAmerica columnists are their own and do not necessarily reflect the position of RenewAmerica or its affiliates.