Issue: S.AMDT.501 (DeMint) Amends S. 679 to repeal the authority to provide certain loans to the International Monetary Fund, the increase in the United States quota to the Fund, and certain other related authorities, and to rescind related appropriated amounts.
Result: Amendment rejected 44 to 55, 1 not voting (3/5 required). GOP and Democrat selected vote.
Amendment Summary: Stops the IMF from having access to $108 billion allocated by Congress in 2009 to bailout foreign countries. Rejects an increase in the U.S. quota to the IMF.
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Analysis: In 2009, a Democratic-controlled Congress approved a request of the Obama administration to make $108 billion available to the IMF for loans to struggling European countries.
Amendment co-sponsor John Cornyn (R-TX) stated: “American taxpayers have seen more bailouts than they can stomach, and the last thing they should have to worry about are their hard-earned tax dollars being used to rescue a foreign government.”
There is no constitutional authority for preserving even the status quo re U.S. contributions to the Internationalists’ IMF scheme for managing the world (see Read more, below). However, the vote on this amendment sends a positive signal that American taxpayers come before unconstitutional international “obligations.” Even though the amendment (requiring 3/5 to pass) was doomed to fail, the roll call nevertheless identifies those senators willing to support the right priorities on this issue.
We have assigned (good vote) to the Yeas and (bad vote) to the Nays. (P = voted present; ? = not voting; blank = not listed on roll call.)
From Masters of Deception by G. Vance Smith and Tom Gow (pp. 60–62):
The IMF and World Bank are part of the UN-affiliated post-war financial system, another CFR creation. The planning for these institutions originated within a subgroup of the CFR’s War and Peace Studies Project during 1941–42. The final plan was established in July 1944 at an international conference in the Mount Washington Hotel and Resort, situated in Bretton Woods, New Hampshire.
Heading up the U.S. delegation and dominating the three-week conference was secret Soviet agent and Assistant Secretary of the Treasury Harry Dexter White (CFR). White would also initially head up the IMF after it was formed. Supporting White at Bretton Woods was his assistant at Treasury, fellow Soviet agent Virginius Frank Coe, as well as British Fabian Socialist John Maynard Keynes.
The IMF was established ostensibly to help stabilize currencies at the end of World War II and to control international exchange rates. However, it was purposefully designed to evolve at an opportune time into a world central bank, issuing an international currency. At the Bretton Woods conference, Federal Reserve Board governor Mariner Eccles was moved to point out: “An international currency is synonymous with international government.”
More recently, world financial ministers have sought to use the 2009 global financial crisis to strengthen both the IMF and World Bank, in the guise of reform. In March of that year, the IMF announced that both Russia and China would be investing in the first-ever notes to be issued by the fund.
The IMF’s sister agency, the World Bank, was ostensibly created to provide loans to member nations for the purpose of reconstruction and development after World War II. The U.S. taxpayer has been the primary contributor.
World Bank loans to socialist governments have often helped to plunge their unfortunate nations further into debt and bring them more under internationalist control. The New York banks have also profited from this sovereign debt. The banks are apparently convinced that international bailouts (and the American taxpayer) will prevent default.