The IMF is up to no good again.

On Monday they released a new report on international capital flows which relaxed its opposition to exchange controls.

By doing so, the IMF has now made emerging market investments more risky, especially for retail investors.

What's more, they likely imposed a major new cost on the global economy.

The irony is that the IMF is trying to solve a problem that was caused by foolish global monetary policies. Relaxing its opposition to capital controls is just more of the same.

Removing Federal Reserve Chairman Ben Bernanke and his world-wide sympathizers, and restoring a true free global capital market would work much better.

The IMF does correctly note that capital flows have vastly increased in recent years. That's where the initial problem comes from. It's the solution that's dangerous.

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