Showing posts with label IMF. Show all posts

Raising the "IOU" Ceiling

SIC SEMPER TYRANNIS!!!
Mark Matheny
October 17, 2013

Mark Matheny discusses the recent shutdown propaganda and the "Debt Slavery" system known as the U. S. Monetary system.

Discover Current Events Internet Radio with Mark Matheny on BlogTalkRadio

Schiff: Cypriots Are Getting a Better Deal than Americans

Schiff Report
March 18, 2013

Panic Grips Europe as Cyprus, EU, and IMF Confiscate Savings

The New American
March 19, 2013

Panic-stricken bank depositors in Cyprus emptied ATM machines across the nation after the surprise announcement Saturday that, as part of an extremely controversial European Union and International Monetary Fund bailout deal, authorities would seize up to 15 percent of all savings deposited in Cypriot banks. Markets across Europe plunged as fears of contagion or even a large-scale bank run in the region plagued investors, with the single euro currency falling to multi-month lows and gold rising back above $1,600 following news of the $13 billion scheme.

Critics ranging from banks and market analysts to politicians and even establishment media outlets lambasted the EU and IMF plan, saying it creates uncertainty and amounts to brazen wealth confiscation. Citizens and foreigners with money deposited in Cyprus, meanwhile, expressed outrage over the controversial scheme as well, demanding that it be halted immediately. Aside from Cypriots, Russians and Britons are expected to be among the hardest hit.

Despite imposing a $500 limit on withdrawals and a ban on online transfers, most ATM machines in Cyprus were completely drained of funds over the weekend as nervous depositors lined up to save what they could before the confiscation begins. March 18 is a national holiday, meaning financial institutions are closed. However, banks in Cyprus may also face an extended so-called “banking holiday” as national politicians iron out the details of the supposed one-time “stability” tax with EU and IMF policymakers.

The original EU-IMF plan would see accounts with less than $130,000 taxed at almost seven percent, while those above that threshold would have 10 percent confiscated by authorities. Anyone with more than 500,000 euros could lose 15 percent. However, some reports indicate that the initial EU-IMF plan called for seizing up to 40 percent of all savings.

The Parliament of Cyprus delayed a Saturday vote on the plan until March 18, reportedly because supporters of the scheme had not yet lined up enough votes to ram the wealth confiscation through. The vote is currently set for Tuesday. Recent news reports, however, say that vote could now be delayed until as late as Friday, and that changes in the exact confiscation figures could be forthcoming.

Some political leaders are scrambling to restructure the controversial plan, hoping to protect at least very small depositors from the savings grab, perhaps making up for it with a higher "tax" on wealthier individuals and larger accounts. Russian authorities — whose citizens have a significant amount of money deposited in Cypriot banks — are reportedly working to come up with an alternative bailout scheme.

Across the EU, however, the brazen confiscation of hard-earned savings was met with a mixture of seething anger and outright terror — fury over the confiscation of wealth that has already been taxed, and fear that similar plots could be hatched in countries such as Greece, Italy, Spain, Portugal, or even in Northern Europe. Top officials have declined to say whether the “tax” on deposits could be forced on other nations, too.

Read the entire article

Technocracy and the IMF

SIC SEMPER TYRANNIS!!! News

Mark Matheny

October 26, 2012

Mark Matheny covers news events over the last week that relate to globalization, and the continual push for a New World Order.

Related articles:

Copenhagen: Leaders Convene for Final stages Toward World Government

UN Policy Paper Describes Incremental Steps Toward World Government

The Globalist Push To Crush The Rich Nations In Preparation For Global Carbon Tax And New World Order

START Treaty is Really the United Nations Global Military Regime Treaty

The Globalists Plan for a Coming World Currency

Technocracy and the IMF: New Global Monetary System?

Carbon Currency: A New Beginning for Technocracy?

Listen to internet radio with Mark Matheny on Blog Talk Radio

Technocracy and the IMF: New Global Monetary System?

August Forecast & Review
October 24, 2012

Beware of a new trial balloon being floated by the International Monetary Fund, that is, “The Chicago Plan Revisited.”

According to British journalist Ambrose Evans-Pritchard,

The conjuring trick is to replace our system of private bank-created money — roughly 97pc of the money supply — with state-created money. We return to the historical norm, before Charles II placed control of the money supply in private hands with the English Free Coinage Act of 1666.

Specifically, it means an assault on “fractional reserve banking”. If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.

The nation regains sovereign control over the money supply. There are no more banks runs, and fewer boom-bust credit cycles. [Emphasis added]

At a time when some ivory-tower economists are predicting the end of capitalism, any talk of monetary reform by global banking organizations is worthy of attention, if not alarm. The IMF has been one of the primary engines of globalization, having worked in conjunction with the World Bank and the Bank for International Settlements for decades.

The IMF has now dug up the so-called “Chicago Plan” from the University of Chicago dating back to 1936, and is seriously studying it for modern application.

Beware. As Patrick Henry once stated, “I smell a rat.”

First, the University of Chicago was originally created with a grant from John D. Rockefeller in 1890, and has long been an academic vassal of Rockefeller interests. In 1936 during the heat of the Great Depression, leading economists were looking for alternatives to capitalism and monetary theory. Technocracy, for instance, was one attempt to suggest an alternative economic system, during the same time period. Neither Technocracy nor the Chicago Plan were successful at the time.

According to the IMF’s study,

“The decade following the onset of the Great Depression was a time of great intellectual ferment in economics, as the leading thinkers of the time tried to understand the apparent failures of the existing economic system. This intellectual struggle extended to many domains, but arguably the most important was the field of monetary economics, given the key roles of private bank behavior and of central bank policies in triggering and prolonging the crisis.

“During this time a large number of leading U.S. macroeconomists supported a fundamental proposal for monetary reform that later became known as the Chicago Plan, after its strongest proponent, professor Henry Simons of the University of Chicago. It was also supported, and brilliantly summarized, by Irving Fisher of Yale University, in Fisher (1936). The key feature of this plan was that it called for the separation of the monetary and credit functions of the banking system, first by requiring 100% backing of deposits by government-issued money, and second by ensuring that the financing of new bank credit can only take place through earnings that have been retained in the form of government-issued money, or through the borrowing of existing government-issued money from non-banks, but not through the creation of new deposits, ex nihilo, by banks.” [Emphasis added.]

I have long argued that the Federal Reserve Bank, established in 1913, is a private corporation whose private stockholders were the major banks of that time period. The Fed was a super-lobby that would work directly with government to orchestrate lending and collecting on an orderly basis. At that time, the banks did not “own” the various nations of the world, so they could not summarily dictate public policy.

Read the entire article

IMF Sees Euro-Zone Countries Missing Deficit Targets

MATTHEW DALTON
online.wsj.com
October 9, 2012

France, Spain and several other euro-zone governments won’t hit budget deficit targets agreed to with European authorities, the International Monetary Fund said Tuesday, setting the stage for a contentious debate over whether the governments should pursue more cuts or allow the targets to slip.

Governments across the European Union have been slashing spending and raising taxes to bring their deficits back in line with the bloc’s budget rules, which call for deficits to remain under 3% of gross domestic product. But anemic growth and recession, partly because of previous rounds of austerity, have made the deficit targets difficult to hit and sparked growing political discontent in many of the EU’s 27 member states.

The IMF said in its semiannual economic outlook that it expects France’s deficit to be 4.7% of GDP this year and 3.5% of GDP at the end of 2013. France has pledged to cut its deficit to 3% of GDP in 2013. The Socialist government of President François Hollande last month unveiled a package of austerity measures, including a 75% tax on incomes over €1 million ($1.30 million), to hit the target.

Read the entire article

WORLD VIEW: IMF WILL END BAILOUT FOR GREECE

Breitbart
July 23, 2012

This morning's key headlines from GenerationalDynamics.com

Food price surge expected after worst U.S. drought in 50 years
Food price surge may lead to global riots, as in 2008
IMF will end bailout for Greece, possibly forcing exit from euro currency
Analysis: Euro crisis is saving Germany tens of billions
Iran announces multiple currency exchange rates
Catholic Priests protest Church attacks in Vietnam

Food price surge expected after worst U.S. drought in 50 years

FAO Food Price Index through June, 2012

The FAO Food Price Index has been declining since a major spike up in 2010, but that's about to change. This summer's drought, now covering more than half of the United States, is the most widespread since 1956, and is likely to get worse. Record-setting triple-digit temperatures have already occurred across the country. The National Weather Service counted 86 records last month, including 118 degrees in Norton, Kan., on June 28. Other record highs included 111 degrees in Yuma, Colo., 106 degrees in St. Louis, and 105 in Logan, W. Va. Between the extreme heat and the lack of rain, corn yield projections have been slashed, and will be slashed again in August. Corn prices have risen to historic highs, and beef prices have been surging as well, as corn makes up about 95% of cattle feed grains. Toledo (OH) Blade

Food price surge may lead to global riots, as in 2008

Damaged corn crop in Woodville, Ohio

The world price of food has been growing steadily since 2002, as the effects of the 1960s "Green Revolution" have petered out, and population growth has been exceeding growth in food production. Food price shocks in 2008 sparked a wave of riots in 30 countries around the world, from Haiti to Bangladesh, and rising food prices helped trigger the Arab Spring uprisings in 2011. The American drought is now expected to trigger a new world food price shock. According to one analyst:

"Food riots are a real risk at this point. Wheat prices aren't up at the level they got to in 2008 but they are still very high and that will have an effect on those who are least able to pay higher prices for food."

Global corn prices have already shot up 40% since June to hit all-time highs, soy bean prices have jumped 30% to record levels, and wheat has surged 50%. Guardian and UN Food and Agriculture Organization (FAO)

IMF will end bailout for Greece, possibly forcing exit from euro currency

According to reports from Germany's Der Spiegel, officials from the International Monetary Fund (IMF) are signaling that they will stop paying bailout money to Greece, because Greece has failed to meet its austerity commitments. Readers may recall that one of the conditions of the 130 billion euro bailout is that Greece must reduce its annual budget deficit from its current 160% of GDP to 120% of GDP by 2020. As I wrote in a lengthy analysis at the time ( "28-Oct-11 News -- Markets explode on crazy Rube Goldberg eurozone deal"), this demand was based on ridiculously impossible future economic assumptions that overlook the generational changes that are taking place. And now it's "already clear" that the "Troika" -- consisting of the European Commission (EC), European Central Bank (ECB), and the IMF -- will reach the conclusion, when it meets this week, that Greece's 120% commitment will not be met. It's already clear, for example, that the 3 billion euros that Greece was supposed to earn from asset sales this year will turn out to be only 300 million euros.

Greece has been begging EU officials to get it more time to implement its austerity commitments, and this was a big discussion in Greece's recent election that brought Antonis Samaras to office. But the Troika has decided that giving Greece more time would mean that it would be necessary to increase Greece's bailout package by an additional 10-50 billion euros. German officials this weekend torpedoed any possibility of renegotiating Greece's austerity agreement. "That won’t work -- that’s a Rubicon we can’t cross," said German foreign minister Guido Westerwelle.

The result is that Greece will go bankrupt next month, when it's due to make a 3.8 billion euro bond payment, and will be forced to leave the euro currency.

This discussion comes at a time when the euro crisis is rapidly building in Spain and Italy, with 10-year bond yields (interest rates) well above 7% and 6%, respectively, after officials in those countries announced that they won't be able to meet their own deficit commitments.

Last year I proposed the "Kick the Can Theory" for the European financial crisis. It says that if you want to know what's going to happen, just assume that European leaders will look for a way to "kick the can down the road," meaning that they'll do the minimum possible to postpone the crisis a little longer, to prevent a current disaster without fixing the problem, so that the crisis will recur in worse form weeks or months later.

There's already a can-kicking solution being proposed for Greece next month. The Greek government will sell 3.8 billion euros in short-term government bonds known as T-bills, and sell them to Greek banks. The Greek banks would then deposit them with the ECB to be used as collateral for 3.8 billion euros of new ECB bailout money. Voilà! 3.8 billion euros created out of thin air! Problem solved! Der Spiegel -- Translation and Bloomberg

Analysis: Euro crisis is saving Germany tens of billions

We've been reporting how yields (interest rates) for some bonds issued by Denmark and Germany have been falling and have actually gone negative, meaning that investors have to pay these countries to keep their money safe. This is a result of the euro crisis, and an analysis indicates that the euro crisis has thus earned Germany a windfall of about 100 billion euros, in all, with 10 billion euros saved in 2012 alone in reduced interest payments.Kathimerini

Iran announces multiple currency exchange rates

With Western sanctions on Iran causing rapid domestic inflation, Iran's parliamentary economic commission announced on Saturday that there will now be three official exchange rates of exchange for the U.S. dollar: 12,260 rials per dollar for "the import of basic goods," 15,000 rials per dollar for import of "capital and brokered goods," and the open market rate, currently 19,100 rials per dollar, for luxury goods, like toys and foreign cars. The new plan is drawing severe criticism from the Ahmadinejad administration. Radio Zamaneh

Catholic Priests protest Church attacks in Vietnam

Vietnamese Catholic priests have sent a letter to President Nguyen Tan Dung protesting against what they said were violent local government backed attacks on a church in a northern Vietnam province which have angered Christians in the communist state. A non-Catholic mob, paid by government officials to participate, occupied the church on July 1 and smashed property, before church members called for help from fellow Catholics in nearby parishes, who came in groups and overwhelmed the attackers. Radio Free Asia

The Catholic Church has played a major role in Vietnam society for over two centuries, since the the Tay-Son rebellion, the most celebrated military event in Vietnamese history, united the north and south in 1789. The generational Awakening era that followed the Tay-Son rebellion changed Vietnam enormously, and became the high point of Vietnam's literary culture, thanks to the French, who also introduced the Catholic religion, converting hundreds of thousands from Confucianism and Buddhism. The Catholic religion was an important symbol in the 1950s, when Ho Chi Minh's violence forced over half a million Catholics to migrate from North to South. Vietnam's crisis civil war in the 1970s united the North and South again, but now the new attacks on the Catholic Church indicate that new, younger post-war generations are renewing the hostilities that occurred in the under Ho Chi Minh.

Lagarde assures Mursi IMF ready to help Egypt

Editor's Note: Look, the International Mafia Federation (IMF) is now offering to help the Muslim Brotherhood... a group funded by the United States. A Central Bank to control Egypt, just like they control Libya and fund Al Qeada there.....The Same President and radical group that wants to send martyrs to Jerusalem to take control of it....

Reuters
July 1, 2012

(Reuters) - International Monetary Fund Managing Director Christine Lagarde called Egyptian President-elect Mohamed Mursi to discuss the economic challenges facing Egypt and how the international lender can best help, a spokesperson for the IMF said on Friday.

"The MD reiterated that the IMF stands ready to support Egypt and looks forward to working closely with the authorities," the spokesperson said.

She also congratulated Mursi on his election as president, "which represents an important step forward in Egypt's transition," the spokesperson said.

However, no timetable has been set for an IMF staff visit to Egypt to discuss a $3.2 billion IMF loan. That "will depend on the formation of the government," the spokesperson said.

The Muslim Brotherhood's Mursi is due to be sworn into office on Saturday, making him Egypt's first Islamist president. He and Lagarde spoke on Thursday.

Brotherhood officials have said they plan to resume the previous government's stop-and-start negotiations for a $3.2 billion IMF loan.

A staff visit to meet Mursi and members of his new government would be an essential part of that process.

"As we have said before, Egypt's economic situation is challenging," the IMF spokesperson said.

"Steps are required to re-establish confidence, restart growth, and safeguard macroeconomic stability, while protecting the most vulnerable. We will update our assessment when a staff team visits Egypt," the IMF spokesperson said.

(Reporting By Doug Palmer; editing by Todd Eastham)

Davos Meeting:IMF Calls For Billions More In Bailouts for Europe

AlJazeeraEnglish

Jan 27, 2012

Finance chiefs at the World Economic Forum in Davos have been trying to reassure business leaders about Europe's efforts to resolve its crisis.

Supported by the US, the IMF is putting more pressure on Europe to pile extra money into its rescue fund, and the US will not put more money into the IMF until EU leaders strengthen their bail out fund.

There are also signs that Greece is nearing a key deal with private bondholders to reduce its debt.

Al Jazeera's Andrew Simmons reports from Davos.

IMF’s Christine Lagarde warns of “1930s moment”

Christine Lagarde was speaking ahead of Wednesday's Davos summit

BBC News
January 24, 2012

IMF chief Christine Lagarde has warned the world faces an economic spiral reminiscent of the 1930s unless action is taken on the eurozone crisis.

Ms Lagarde, speaking in Berlin, warned of a danger of rising unemployment if governments did not act together.

She said the Fund needed 500bn euros more to help sustain those countries worst hit by the eurozone crisis.

She added that Germany's economy depended on the economic health of its customers in other eurozone countries.

Ms Lagarde, who met German Chancellor Angela Merkel, said that the eurozone needed a "larger firewall" to prevent the debt crisis spreading.

'Downward spiral'

Talks between Greece and its creditors were adjourned on Friday amid Greek hopes a large chunk of its debts could be written off.

In a BBC interview, Ms Lagarde said now was the time to act in order to avoid a 1930s-style depression.

She said: "Looking at it from this perspective, 2012 must be a year of healing. But as Hippocrates put it long ago: 'Healing is a matter of time, but it is sometimes also a matter of opportunity.'

"And today, it has to be an opportunity of our own making. Otherwise, we could easily slide into a 1930s moment.

"A moment where trust and co-operation break down and countries turn inward. A moment, ultimately, leading to a downward spiral that could engulf the entire world."
Read the entire article

World Bank warns of more global economic turmoil ahead..IMF running out money

The Herald Sun

January 19, 2012

THE world's leading economists have warned of a new financial crisis that will cause even more damage than the GFC in 2008.

The World Bank has slashed its global economic forecasts because of the high levels of debt in rich nations.

The Washington-based lender had previously projected a 3.6 per cent annual global growth for the next two years.

But this has been drastically reduced to 2.5 per cent in 2012 and 3.1 per cent in 2013.

"The world economy has entered a very difficult phase characterised by significant downside risks and fragility," the twice-yearly Global Economic Prospects report said.

While financial turmoil appeared contained at the moment, "the risk of a much broader freezing up of capital markets and a global crisis similar in magnitude to the Lehman crisis remains".

Read the entire article

RON PAUL WARNS OF WORLD CURRENCY PLAN During South Carolina Speech

SIC SEMPER TYRANNIS!!!
Mark Matheny
January 15, 2012

Yesterday Ron Paul spoke at Eagle Aviation, warning Americans that a push for a world currency by the elites is in the works. Organizations like the United Nations, IMF, and the World Bank are already planning on this event as the U.S. dollar slowly dies through massive reproduction of itself (compliments of the Federal Reserve and Treasury Department). Ron Said the coming world currency is inevitable, and that the financial crisis will be used as the excuse.

Euro Debt Crisis: Will the U.S. and IMF Come to the Rescue - With U.S. Tax Payer Money?

SIC SEMPER TYRANNIS!!!
Mark Matheny
November 30, 2011

New concerns mounting over the European Crisis are once again in the forefront of the mainstream media. While commentators and guest speakers appear on News programs debating on exactly how to fix the problems mounting in Europe and around the globe, most people are unaware that these crisis's are actually opportunities to consolidate more power into a world Central Financial System backed by a World Government.

President Obama, Hillary Clinton, Timothy Geithner were among those who met with European officials in Washington seeking to come to an agreement on how to save the European economy. Although The U.S. has said it will not bail out the Eurozone, nor will it seek to increase the amount of funds to the IMF, it certainly seems there will have to be some sort of solution to the coming crisis.

The possibilty of a bail out from the IMF seems most plausible at this time. The problem with this plan, however, seems to be the fact that currently the IMF does not have the amount needed to avert the Euro's economic crisis, and therefore would most likely need more money from it biggest contributor- the Good ole' United States of America.

There has been a recent meeting in Brussels to discuss measures needed to help the European economy.
William Kennard, the U.S. Envoy in Brussels, stated that no discussion was made concerning the U.S. making any financial obligations to bail out Europe, or to increase its payments to the IMF.

President Obama on the one hand stated that the U.S. would not directly bailout Europe with U.S. taxpayer money, but agreed that the U.S. would take more of an advisory role in "rescue plans" for Europe.

"I communicated to them that the United States stands ready to do our part to help them resolve this issue. This is of huge importance to our economy," said Obama at the EU meeting, but on the other hand it looks as though the only possible step would be for Washington to support more aid to Europe from the IMF.

The United States happens to be the biggest shareholder in the International Monetary Fund, and therefore would be contributing from the pocketbooks and purses of the American taxpayer. The real agenda behind these meetings seems to be a further consolidation of financial control through institutions such as the IMF, in preparation for a possible restructure of the world financial system, the creation of a world currency, and a world central Bank.

Timothy Geithner has in the past said that he is "quite open" to the idea of a world currency.

Both Hillary Clinton and Geithner have also attended Bilderberg meetings:

Timothy Geithner attending the Bilderburg Conference.

Although she denies it, she too has attended Bilderberg with President Obama!

Dominique Strauss-Kahn may have been victim of a plot

Editor's Note: Was I right? or was I right. I predicted this outcome back on May 15,2011. Watch the video below, then read the article.

Paul Harris
Guardian.co.uk
November 26, 2011

New questions have been raised about the events in the New York hotel room where the former International Monetary Fund head and leading French politician, Dominique Strauss-Kahn, was alleged to have sexually assaulted a hotel maid.

The case against Strauss-Kahn was eventually dramatically dropped by a Manhattan court, but the scandal forced him to resign his IMF post and destroyed his chances of becoming the leading leftwing candidate to challenge Nicolas Sarkozy for the French presidency.

An exhaustively researched article in the New York Review of Books, published by veteran American investigative journalist Edward Jay Epstein, has cast fresh doubt on exactly what happened in the Sofitel hotel room on 14 May between Strauss-Kahn and his accuser, Guinean-born maid Nafissatou Diallo.

Recent Gold Takedown A Form of Economic Warfare

Bob Chapman
International Forecaster
Thursday, September 29, 2011

The takedown of gold and silver markets over the past two weeks signified a new milestone in corruption, brazenness, arrogance and it reveals the level of evil control behind our government. This past week, in just one week, saw gold fall almost $200 and silver about $10.00. We have been involved in gold and silver for 53 years and the only event that comes close to this was October 19, 1987, when we witnessed the Bank of England sell down gold $100.00 under the orders of the Fed and the US Treasury, which borrowed the gold from the IMF.

That was illegal, but that means little to the Illuminists who do as they please. Today thanks to Ronald Reagan we have the “President’s Working Group on Financial Markets,” which has legitimatized corruption to conform to the Keynesian model of corporatist fascism. After the close on Friday we were informed, that the CME, which controls the Comex, had raised margin requirements on gold by 21%, silver 16% and in copper by 18%. In retrospect it is obvious that many banking insiders and traders knew early in the week that this momentous psychological warfare was going to be unleashed on these markets. Your government definitely rigged these markets. Today in America and many other places as well, crime pays. What has been done to investors over this past week is not only a crime, but also a disgrace to all Americans.

Read the entire article at Infowars

Sarkozy Gets His European Monetary Fund

European leaders on Thursday pushed through a second bailout package for debt-stricken Greece, one which includes a surprisingly high level of private participation. In addition, the euro-zone backstop fund has been given new powers, making it look suspiciously like a European IMF.

Speigel Online International
July 22, 2011

In the end, there were important resolutions to announce after all. Euro-zone heads of state and government agreed on Thursday evening to a second emergency aid package for Greece "and some other things," said German Chancellor Angela Merkel following the special summit of the 17 euro-zone member states in Brussels. She exuded satisfaction and said it had been an "important day."

In the weeks prior to the summit, Merkel had repeatedly insisted that there was no need for the special summit and she made it clear that she was not enthusiastic about participating . As recently as Tuesday, she warned that one should not expect any "spectacular" moves. And the Thursday agreement does indeed fall short of being spectacular , but it provides the clarity that was so badly needed.

The new package provides for €109 billion worth of credit for Athens. The majority of the fund comes from the euro backstop fund known as the European Financial Stability Facility (EFSF) and from the International Monetary Fund (IMF). Private creditors are to contribute an additional €50 billion by 2014 via a combination of debt buybacks and swaps. The level of private involvement in the plan is much higher than had been expected and reflects the position that Germany had been insisting on for months. It can be seen as a personal success for Merkel.

At the same time, the EFSF is to be granted additional, pre-emptive competencies to prevent the euro crisis from spreading to additional countries. Among other measures, the EFSF will have the ability to buy state bonds on secondary markets -- from banks and insurance companies for example -- in order to support debt-ridden euro-zone countries. It is a further step in the direction of the kind of transfer union that Germany has long insisted must be avoided.

A European Monetary Fund
Euro-zone leaders were eager to avoid such bond purchases becoming business-as-usual. Prior to taking such a step, the European Central Bank must identify a country's debt predicament as being extreme and all euro-zone member states must grant their approval. Each national government would hold veto rights. But the new EFSF powers meant that French President Nicolas Sarkozy also had something to celebrate. "We have agreed to create the beginnings of a European Monetary Fund," Sarkozy crowed.

The moves do indeed mean that the EFSF increasingly resembles the Washington-based IMF. It will now be allowed to grant pre-emptive lines of credit to countries under pressure on the financial markets. It will also be allowed to assist in the recapitalization of stricken banks. Even Merkel, who had long been opposed to the idea of a European Monetary Fund, allowed that "one could draw such a comparison" to the IMF.
Read the entire article

"The New Rulers of the World" - Documentary

http://www.youtube.com/watch?v=v3WbztsqScw

This is a look at the IMF and World Bank.

A Film by John Pilger.

IMF -"International Mafia Federation" Loan Sharks of Last Resort

SIC SEMPER TYRANNIS!!!
Mark Matheny
July 3, 2011

In spite of the massive protesting by the tax paying protestors in Greece ( those who are tired and fed up with the looting of their hard earned savings), Greek lawmakers have once again bowed to the IMF and the EU, in passing a second Austerity Bill in order to keep Greece from defaulting by mid- July.

Gerald Celente has referred to the IMF as the "International Mafia Federation", and has said so with good reason. Gerald says they are nothing more than international "loan sharks" of last resort. This can be backed up by a Fox News report that stated:

The European Union and International Monetary Fund had demanded Parliament pass two bills — an austerity law and a second bill detailing how it will be implemented — by June 30 before they approve a $17.3 billion installment from the country's $159 billion package.

You may notice the word "demanded " in the condition of Greece's $159 billion package.

If you would like to hear a simplified but true explanation of the IMF's role, then Gerald Celente has just the perception to see how they work:

"Here's what they do - They go into a country that's really desparate, they can't borrow a dime anywhere, and the IMF comes in, and they say - Ay, I'll loan you the money! But how are you going to pay me back?"

Then with that rhetorical question, Gerald shows how the IMF already has the answer for the country:

"You tax the people, you put more taxes on 'em. And so you (the country in desparate need) tax the people, you don't get enough and they (the IMF) say, Listen - I'm not getting enough money, I want the bridge! ... I want the bridge! I want the highway! I want the water supply! Capish?"

Of course in this Austerity Bill passed by the Greek Parliment, equal opportunity is a must in that they have placed taxe increases even on the lowest-income families.

Although this move by the Greek Parliment has been a "decisive step Greece needed to take in order to return to a sustainable path." and that "In very difficult circumstances, it was another act of national responsibility,” this measure will only help Greece to hold out until around September!

And since the last bailout from the IMF to Greece hasn't helped, it is more than probable that this bailout will likely end in the same way... more debt on Greece with no answers.

The International Mafia Federation is nothing more than an instrument of globalists to take over countries' wealth and resources, and unfortunately they are doing a pretty good job!

Many of the people in Greece see this plan as a direct threat to their wealth and general well-being as a nation, and are highly opposed to the measure, resorting to protests and violence in defense of what liberties and material possessions they still have.

Here in the U.S., the people are now starting to feel the effects of the failed bailouts, and entitlements that have pushed our country to the brink of economic collapse as well. There are still those who believe Obama's worn out speeches of recovery, who refuse to "see the forest in spite of the trees" as they say.

The same problems that are hitting Greece will inevitably come to America. As the industrialized nations collapse, international organizations such as the IMF, World Bank, BIS (Bank of International Settlements) and The United Nations will take over.

The IMF is also leaning on lawmakers here in the U.S. to raise the debt ceiling. John Lipsky, Managing Director of the IMF stated:

We’re confident that the participants are well aware of the potential risks of a debt default in the U.S. and will avoid those dangers. It should be self-evident [that] a debt default by the U. S. government debt market would have very serious, far-reaching, dramatic repercussions and that’s why we’re confident that it will be avoided.

It looks as though our representatives in Washington will raise the debt ceiling, and pass some cuts to the budget that will not amount to a hill of beans. Peter Schiff has predicted that Greece would indeed accept more loans from the IMF, that the Fed will continue with more quantitative easing, and that the U.S. government will raise the debt ceiling.

In an interview on Fox News June 22, 2011 Peter stated Bernanke's assessment of the current economic situation in the U.S. is inaccurate, and that the economy will continue to worsen with unemployment escalating, and the inflation will be much higher than what the Fed Chairman is reporting. Peter also stated that Greece is just a small picture of what is coming to America.

IMF Wants US Debt Ceiling Raised Immediately

TheNewAmerican
June 29, 2011

The June 20th report of the International Monetary Fund (IMF) to the United States strongly recommended that the debt ceiling be raised because “if the debt ceiling is not raised soon…[it] would have significant global repercussions, given the central role of U. S. Treasury bonds in world markets. ” In announcing the report, John Lipsky (picture, left), acting managing director for the IMF, said:

We’re confident that the participants are well aware of the potential risks of a debt default in the U. S. and will avoid those dangers. It should be self-evident [that] a debt default by the U. S. government debt market would have very serious, far-reaching, dramatic repercussions and that’s why we’re confident that it will be avoided.

The IMF report was full of other suggestions to assist the U.S. in regaining its financial footing, including

1. Don’t cut spending too much — it might impede the economic recovery
2. Keep interest rates low for a long time
3. Keep an eye on inflation
4. Keep stimulating the housing market, it’ll eventually come back
5. Enforce “cramdowns” by banks holding mortgages in order to clear the market more quickly
6. Fully implement the Dodd-Frank financial reforms, with full funding to complete the bill’s potential to regulate further the financial markets
7. Allocate more money for federal job training.
8. Consolidate the government’s present 50 different job programs into a single program
9. Institute a national sales tax, or value-added-tax (VAT)
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Written by Bob Adelmann

Wednesday, 29 June 2011 17:33

Strauss-Kahn Free From House Arrest After Questions Raised Over Sex Assault Accuser's Credibility

Fox News

July 1 , 2011

Editor's Note: Was I right or what? At least in the fact that he has been freed from house arrest...

Former International Monetary Fund chief Dominique Strauss-Kahn walked out of court free on bail Friday after prosecutors said an extensive background investigation of the hotel housekeeper accusing him of sexual assault gave them pause.

Strauss-Kahn had been free on $6 million in cash and bond but under house arrest for weeks in a ritzy Manhattan loft. The charges, which include attempted rape, have not been reduced, but the move signals that prosecutors do not believe the accusations are as ironclad as they once seemed.

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