Excerpts From Executive Statements At The IMF/World Bank Meeting

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Thu, 04/14/2011 - 11:28 | 1168861 bulbar
bulbar's picture

F'ing moron

Thu, 04/14/2011 - 11:38 | 1168900 flacon
flacon's picture

Timothy G.: "we also want once again to take advantage of this moment (crisis) to try in a sense to lock everybody in..." (to the prison we have created and then throw away the keys so nobody escapes)

Thu, 04/14/2011 - 11:52 | 1168948 traderjoe
traderjoe's picture

They will not default. We must default on them.

Thu, 04/14/2011 - 11:58 | 1168984 NotApplicable
NotApplicable's picture

Good luck with that.

Thu, 04/14/2011 - 12:08 | 1169031 traderjoe
traderjoe's picture

Starve the beast. Cancel your credit cards. Pay cash. Barter. Minimize your taxes. Buy local. Shop less. Bank local. Etc. Etc.

Thu, 04/14/2011 - 12:35 | 1169069 Holodomor2012
Holodomor2012's picture

Been tried.  We know the outcome.  You are not allowed off the ride while the ride is in motion.


Thu, 04/14/2011 - 12:40 | 1169180 traderjoe
traderjoe's picture

Bullshit. If everyone reduced their consumption 10% the system's collapse will be accelerated. Stop using your credit card half the time.

The power is still with the people. It's up to us to chose.

Thu, 04/14/2011 - 13:41 | 1169432 MarketTruth
MarketTruth's picture

Keep bank balances at a minimum and store value in physical gold and silver holdings. Barter as much as possible.

Thu, 04/14/2011 - 15:52 | 1169995 TeresaE
TeresaE's picture



Fat chance of that happening voluntarily, we Americans will continue to use the plastic and buy the big screens until the day we implode.

Nice thought though.

Thu, 04/14/2011 - 13:13 | 1169308 rufusbird
rufusbird's picture

Checked the vid. The problem with it is their conspiricy tone. It is not like that anymore. It is all right out in the open. Quotes from the masters are at the top of these very pages....

Thu, 04/14/2011 - 14:23 | 1169615 Holodomor2012
Holodomor2012's picture

too true

Thu, 04/14/2011 - 12:01 | 1168992 IBelieveInMagic
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I like Mr. Geithner's spin on market confidence in the US debt when conveniently overlooking the fact that without QE, we would have really seen what the market thought of US debt.

Thu, 04/14/2011 - 12:39 | 1169174 bonddude
bonddude's picture

Speaking of default this gentleman makes it part of his business strategy thereby

crashing IndyMac, Sonoma Valley Bank, PFF Bank, Charter Oak Bank, United Commercial Bank,

and many other banks, REITs and dumb individuals who allowed him to open credit lines in

their names which he proceeded to run up. He uses straw borrowers/buyers and creates many

LLCs and although the FeDS are watching he is still operating.The count so far is upwards of

$500 Million. Hopefully, the rat trap is set. Santa Rosa Press Democrat is the only paper

following it.

Here's a nice cartoon to explain.



Thu, 04/14/2011 - 11:47 | 1168929 Popo
Popo's picture

Is there really any difference between raising the debt ceiling and defaulting?   It's just two different ways of saying "We don't have the cash".






Thu, 04/14/2011 - 12:01 | 1168987 NotApplicable
NotApplicable's picture

But my credit's good! Right?

Thu, 04/14/2011 - 14:05 | 1169530 sgt_doom
sgt_doom's picture

Ditto, bulbar!

And what are my comments?  What he says,




Thu, 04/14/2011 - 11:29 | 1168865 bonddude
bonddude's picture

zombie everything

Thu, 04/14/2011 - 11:30 | 1168870 doomandbloom
doomandbloom's picture

the NEW fed.


Thu, 04/14/2011 - 11:57 | 1168963 tickhound
tickhound's picture

Same as the OLD Fed...


"Ivory Coast needs security, jobs, and justice. Working with regional partners, the World Bank stands ready to offer important assistance -- financial, policy and technical.

"If the security situation allows we can within the next couple of week reactivate some World bank programs worth about $100 million to help the people in Ivory Coast."


Heard this story before... Ends with a loan that can't be paid back, and a fat position for the United "Cocoa" Company.

Cuz that's how we roll...

Thu, 04/14/2011 - 11:28 | 1168871 Ancona
Ancona's picture

The Central Planners are on track to bleed every last dime out of our collective pockets.


Thu, 04/14/2011 - 11:34 | 1168886 flacon
flacon's picture

dime = 91.67% copper, 8.33% nickel.

Thu, 04/14/2011 - 11:48 | 1168924 Ray1968
Ray1968's picture

only a matter of time before the melt value of a dime is worth more than the dime itself. (still has quite a bit to go @ $0.0244). However the nickel is there already $0.0679

Thu, 04/14/2011 - 11:44 | 1168926 Problem Is
Problem Is's picture

Remember Obummer Fans:

The Change is in your pocket...

Thu, 04/14/2011 - 11:28 | 1168872 LawsofPhysics
LawsofPhysics's picture

"It will be deeply irresponsible to do it. People will advocate it up there. They will say there's leverage in it, we can advance it. But that would be deeply irresponsible and they will own the risk. It won't happen in the end, but if they take it too close to the edge, they will own responsibility for that miscalculation."

Hey Timmy,  come on out to the farm, cause I own that risk and your ass already.

Thu, 04/14/2011 - 11:57 | 1168902 hedgeless_horseman
hedgeless_horseman's picture



"You also see a lot of confidence in markets that the American political system will be able to get our fiscal path on a sustainable position. If you look at what we pay to borrow, the world basically believes that our problems are manageable, our system will solve it, but you want to make sure that we're earning that confidence every day. We have to act to justify that, to sustain that."

Absolutely zero foreign investors (including 'the world') believes that the interest rate America pays to borrow money is even remotely close to a market rate. 

They all know about POMO. Artificially high treasury prices equal artificially low treasury rates.  They all understand how a teeter-totter works.


Timmy should stop continually using this artificial interest rate as his best justification for more debt.  He is the Sec Treas of the USA for God's sake!

Thu, 04/14/2011 - 12:05 | 1169014 NotApplicable
NotApplicable's picture

Hey now, Timmah is not stupid, and wouldn't lie, as he lives in a political world, where no such thing exists. What has happened, is that you have instead misinterpreted his words.

Markets = Brian Sack's terminal.

Now, make the replacement, and you will see that the quote is perfectly reasonable. ;-)

Thu, 04/14/2011 - 11:28 | 1168873 Misean
Misean's picture

Anyone else just plain sick of these pompous asshats?

Thu, 04/14/2011 - 11:42 | 1168907 Zero Govt
Zero Govt's picture

Oh Yes.... hopefully when all member Govts go bankrupt, particularly the IMF's main funder the US Govt, the unelected crones and windbags at the IMF will join the unemployment cues too while their useless organisation will be flushed down the toilet ...bring on that day  

Thu, 04/14/2011 - 12:04 | 1168994 Vendetta
Vendetta's picture


Thu, 04/14/2011 - 12:02 | 1168995 Bicycle Repairman
Bicycle Repairman's picture

When governments go bankrupt, the IMF takes the collateral.  Wonder what the USA has put up as collateral?

Thu, 04/14/2011 - 15:52 | 1169981 TeresaE
TeresaE's picture


Our homes dude (small businesses too).

Americans refuse to speak truth.  The US government is now the single-largest holder of mortgages, thus houses, in the country.  The Fed is right behind them.  Remember Fannie/Freddie and loans bought at 100% of face value (even as they continue to foreclose).

Warren Buffett said that Americans would wake up sharecroppers paying taxes to both China and the US government.  Once China owns our homes that is EXACTLY what would happen.

Thu, 04/14/2011 - 12:10 | 1169032 NotApplicable
NotApplicable's picture

Nope, as we all keep coming back here to learn more about their abuse. When everyone here is talking about American Idol, then we'll know we've reached the terminal stage.

Thu, 04/14/2011 - 11:32 | 1168875 flacon
flacon's picture

Time for them to blow shit up. Let's get it on already. 

Thu, 04/14/2011 - 11:31 | 1168880 treemagnet
treemagnet's picture

Anybody know the safest place to sit on a plane thats crashing?

Thu, 04/14/2011 - 12:05 | 1169011 LowProfile
LowProfile's picture


Thu, 04/14/2011 - 12:12 | 1169038 NotApplicable
NotApplicable's picture

Waiting to step off of the wing, just like Bugs Bunny does.

Thu, 04/14/2011 - 11:33 | 1168882 mynhair
mynhair's picture

Very bull(ish) comments.  Prepare for green.

Thu, 04/14/2011 - 11:31 | 1168883 cxl9
cxl9's picture


"We've got very different ideas on how to do this,

Name one.


Thu, 04/14/2011 - 12:02 | 1168989 gall batter
gall batter's picture

Dick Cheney said "deficits don't matter".  

Thu, 04/14/2011 - 12:03 | 1168999 Vendetta
Vendetta's picture

funny how so few complained about that comment back thn

Thu, 04/14/2011 - 12:09 | 1169022 gall batter
gall batter's picture

about the same number who complained when Bush said the Constitution is just a goddamn piece of paper.

Thu, 04/14/2011 - 13:57 | 1169500 Moe Howard
Moe Howard's picture

I am not a Bush fan either, but please stop repeating lies. The originator of the quote has retracted it. Why not use the truth instead of repeating lies? Lord knows there is enough to use.

"This article was based on sources that we thought, at the time, were reliable. We have since discovered reasons to doubt their veracity. For that reason, this article has been removed from our database."

I no longer stand behind that article or its conclusions and have said so in answers to several recent queries. In addition, I have asked that it be removed from a documentary film.

Thu, 04/14/2011 - 15:47 | 1169959 TeresaE
TeresaE's picture



Nope, there were plenty of us bitching about it.  We were appalled when the Patriot Act was signed.  We knew Iraq was a bad idea.  Record setting budget after record setting budget left us spewing venom.

We were probably the same ones who screamed back when Clinton gifted China and Walmart our manufacturing, then gave more to Mexico.

There were even a few of us pissed when Glass-Steagall was signed away.

But everyone else was too busy to notice.  Just like those outside these hallowed halls today.

Whom has time for complicated matters when American Idol fans voted Pia off?


Don't let these bastards continue to make this a red vs. blue issue.  It is US against THEM.



Thu, 04/14/2011 - 16:17 | 1170110 Cthonic
Cthonic's picture

Nice to meet someone else who apparently didn't wake up just yesterday.  Welcome.

Thu, 04/14/2011 - 17:34 | 1170451 mkkby
mkkby's picture

Obviously you watch American Idol since you know who's on it.

Thu, 04/14/2011 - 11:33 | 1168884 Monday1929
Monday1929's picture

Did anyone remind Timmy to file his taxes by Monday? Being "overseas" is no excuse, Timmay.

Thu, 04/14/2011 - 11:41 | 1168914 Problem Is
Problem Is's picture

The IRS sends Timmay a polite "reminder" letter once a year for 5 years if there are any tax payments outstanding...

Thu, 04/14/2011 - 12:13 | 1169044 Confused
Confused's picture

He is part of the "club," officially now of course. So he doesn't pay taxes. 

Thu, 04/14/2011 - 12:21 | 1169073 hedgeless_horseman
hedgeless_horseman's picture

41 Obama White House aides owe the IRS $831,000 in back taxes -- and they're not alone


In the House of Representatives, 421 people owe a total $6,524,892. In the Senate, 217 owe $2,774,836. In the IRS' parent department, Treasury, 1,204 owe $7,670,814. At the Labor Department, where Secretary Hilda Solis' husband had some back-tax problems before her confirmation, 463 owe $7,481,463. Eighty-one workers for the Federal Reserve System's board of governors owe $1,076,733.


Over at the Justice Department, which is so busy enforcing other laws and suing Arizona, 1,971 employees still owe $14,350,152 in overdue taxes.


Thu, 04/14/2011 - 11:36 | 1168901 anolmec
anolmec's picture

please replace the term "jobless recovery"  with  "oligarchs protecting their wealth"

also replace the term "continued growth" with "strip mining the planet"



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