Billionaire and convicted inside trader George Soros has proposed what he calls “an annual issue of Special Drawing Rights (SDR) that rich countries would donate for international assistance.” The SDR idea is a variation of a global tax to finance more foreign aid. SDRs, created by the International Monetary Fund, have been defined as a form of international reserve currency intended to “supplement the existing official reserves of member countries” in transactions with the IMF. What Soros proposes would greatly alter and expand their use. As someone who has developed a reputation for practicing financial and economic warfare against the nations of the world, he seems determined to drain more wealth away from the United States.
What is also fascinating is that a column in which Soros makes this proposal is available on the website of “Project Syndicate,” an emerging Soros-supported media empire.
Project Syndicate claims to consist of 257 newspapers in 113 countries, with a total circulation of 39,323,478. It is funded by “member papers in developed countries,” as well as the Open Society Institute of George Soros, Politiken Foundation, based in Sweden, and the Die Zeit Ebelin und Gerd Bucerius Foundation, based in Germany.
In another column distributed by the Project Syndicate, Soros declared, “I consider using an issue of SDRs preferable to the Tobin tax (a proposed tax on international currency transactions) for a number of reasons, the most important of which is that a special SDR issue was already authorized in 1997 and ratified by 71% of IMF members. It could be used for international assistance immediately, if the US Congress also ratified it, and developed countries pledged their allocations for that purpose.”
Lately, Soros has been talking down the American economy, saying the U.S. dollar is weak and that we could slide into recession in 2007. Of course, he could help bring that about through his global financial manipulations.
In a related matter, a Soros-funded group, the Open Society Policy Center, which organized opposition to John Bolton as U.S. Ambassador to the U.N., has been caught paying money to a political consultant who has pleaded guilty to bank fraud and a failure to pay federal income taxes. My new report examines this in the context of the smear of Bolton that prevented his confirmation and eventually resulted in his recess appointment to the post.
Comments
Comments are turned off for this article.