Thursday, April 02, 2009

GIVING IT ALL AWAY, GLOBAL STYLE

In case you were wondering about the G20 plans to "fund" the IMF, this lil' quotation from an early morning AP piece should explain it:
Stock futures surged about 2 percent Thursday as the world's finance leaders discussed the global economy. Investors were enthusiastic about word from the London meeting of financial regulatory changes and increased funding for the International Monetary Fund
You'll recall that a couple weeks ago when Timmy rolled out his "Big Privately Owned Banks Will Win, And Win Big" plan, the markets "surged." And spewed and drooled and whooped from the rooftops.

Because, you know, those gosh darn businesses and big-ticket investors like free money. They're just crazy that way!

Now, it looks like the Obama-Geithner-Bernanke-Summers Plan -- Taxpayer Money for Wall St., Now, Tomorrow, and Always . . . or at least til there's nothing left to give away -- is going international! I haven't figured out the details yet, but it seems like the governments of the world's largest economies will give tax payer money (or debased fiat currency) to the IMF so it can "loan" that money to choice institutions, projects, what have you.

Some will say that those IMF loans will go to "developing nations" or "infrastructure projects" to "get people to work." Yeah, right. If that were true, you really think investors would be "enthusiastic," sending stock futures "surging"?

Anyone who's been watching for the last six months (let alone the last six years) knows exactly what's going on here. Don't be fooled again.

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4 Comments:

Blogger Weaseldog said...

Think of the IMF loans as payroll for despots.

The IMF representatives in those countries will take the money and share it with like minded friends. They'll live the high life.

Then people of those nations will be on the hook for the bill.

10:03 AM  
Anonymous wfta said...

Actually the IMF, if looking at the U.S. banking system, would have us shut them down, eliminate the shareholders and management, shear the bondholders or force them to accept seriously reduced equity for their seriously overpriced bonds and reboot the system.

Despite my fears of a long period of exceptionally high unemployment, this is now what I believe we should be doing in an FDIC process.

(sorry for any errors, but too lazy to open Word and the drinking lamp is lit.)

7:15 PM  
Blogger DED said...

Yeah, I don't get all the "everything's coming up roses" reports coming out of the G20 summit today. I feel like it's one of those Neville Chamberlain style moments, but instead of appeasing Nazi's we're appeasing the Big Banks/Wall St. Execs and disaster is just around the corner.

10:18 PM  
Blogger Weaseldog said...

WFTA, that's what the IMF says they are in the business of doing. Their stated purpose is to help third world nations rise out of poverty.

But their real actual mission is to help banks loot a nation's resources, and create an atmosphere of exploitation. They create problems in nations, then swoop in to 'fix them', utterly destroying them in the process.

They lie about their purpose, and many other people accept the lie, and pass it on.

The US produces little in the way of actual goods in relation to it's consumption. Taking out the USA will free up 25% of the world's resources, allowing a few nations to benefit in the long term.

In the UAE and Saudi Arabia, a new effort is being made to ramp the region up into a major industrial center. The idea being that thr Arabs will use their oil and gas to fuel their own internal economies. By shitting down nations that mostly consume, but don't produce, they can slow production and make their fossil fuels last longer. They can keep a hi-tech lifestyle for several decades longer if they quit exporting do much fuel.

The IMF engage in such triage actions in Africa in the 1970s and then later in South America. By killing off the industrialization of the nation on these continents, they freed up resources to be exploited by other countries, at ridiculously low prices.

As the world's resources run lower, more triage is necessary. More nations must be shut down. It's simply our turn now.

9:50 AM  

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