Freeman

IN BRIEF

Soros Proposes Global CO2 Fund

DECEMBER 11, 2009

“Mr. Soros suggested that rich nations finance climate subsidies for developing nations by tapping into some of the $283 billion in special drawing rights that the IMF issued to respond to the global financial crisis earlier this year. More than $150 billion of those rights went to the 15 biggest developed economies, he said. Special drawing rights, or SDRs, are a form of composite currency issued by the IMF to its members.” (Wall Street Journal, Friday)

Just call it the Global CO2 Slush Fund.

FEE Timely Classic:
The International Monetary Fund” by Kevin S. Ewert

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