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IMF’s Green Fund: Extending Control over the World Economy

In accordance with the recommendations of George Soros at the Copenhagen Conference, the IMF has proposed establishing a $100 billion a year “Green Fund” to help developing countries “mitigate and adapt to climate change.” This Green Fund, denominated in IMF issued Special Drawing Rights (SDRs), would be funded by contributions from developed countries.  Developed countries would in turn levy carbon taxes and institute carbon trading schemes to raise the required funds.

Consequently, the Green Fund would allow the IMF to establish SDRs as a world reserve currency and regulate carbon usage globally. Transactions in SDRs would eventually encompass virtually all economic activities whether in developed or developing countries.

Historically, the IMF has been used by global corporations and banks to extract material resources and liquidate national industries in over-indebted developing countries.  The proposed Green Fund will allow the IMF to implement “austerity measures” under the guise of mitigating climate change.

While  developing countries may be attracted to the $100 billion a year subsidy,  the Green Fund is in reality a mechanism by which the global corporations and banks will extend their control over the world’s economic resources. In addition, developed nations would soon be subjected to similar austerity measures and experience first hand what it means to lose national sovereignty over monetary and fiscal policies.

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