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IMF Says It Is Prepared To Feed The World's Hungry (While Invoicing US Taxpayers For Its Services)

Tyler Durden's picture





 

In a report released earlier summarizing the fund's findings from the irrelevant G-20 meeting over the weekend, "Global Economic Prospects and Policy Challenges", the IMF finally acknowledges what pretty much everyone has been warning about for over two years now. Namely: "From an external perspective, however, there is concern that quantitative easing in the United States could result in a flood of capital. In economies where recovery is already well established, policymakers will need to pay increasing attention to building inflationary pressure. Central banks should continue to stand ready to address liquidity problems in the banking sector, particularly in the euro area." Actually the liquidity area that should be addressed is that in the 3rd subbasement of the Marriner Eccles building where the printers work on full blast 24/7. Furthermore, the IMF points out another glaringly obvious factoid of today's global ponzi economy, namely the Chinese property bubble: "Residential real estate prices in some of China's larger cities have risen rapidly since the crisis, spurred initially by stimulative policies aimed at easing restrictions on real estate lending and subsequently by strong income growth, high savings, and limited alternate investment vehicles. While it is difficult to predict how significant the stress from potential property price correction would be, if these risks are realized, there could  potentially be global ramifications." But arguably the most interesting observation in the report is that the ongoing tsunami of Fed-driven food price surges across the world, in most cases leading to outright revolution, will end up being invoiced to... you - dear US taxpayer.

"The recent food price increases come in the wake of the deepest crisis since the Great Depression, when countries are more vulnerable and have, in general, less fiscal space. In addition to the inflationary implications, the rapid increase in food prices may  have adverse social implications, particularly in low income countries (LICs). The IMF also stands ready to boost its financial support to LICs and other member countries to help them stem the adverse effects of rapid food price increases."

Which means that soon the IMF will be subsidizing countries around the world, all of whom will adopt the Mutual Assured Destruction made so famous by our lunatic Treasury Secretary, and tell the IMF (whose number one sponsor happens to be the US), that either they get bailed out, or bloody revolutions will follow. And yes, America will foot the bill for that too.

Key highlights from the report:

On QE:

With inflationary expectations well anchored, accommodative monetary policy in major advanced economies remains appropriate for now. High unemployment and large output gaps are keeping wages and inflation expectations in the major advanced  economies in check, notwithstanding large increases in food and energy prices. Continuing monetary policy accommodation is thus the right policy from a domestic perspective, considering also that the recovery is expected to remain sluggish going forward. From an external perspective, however, there is concern that quantitative easing in the United States could result in a flood of  capital. In economies where recovery is already well established, policymakers will need to pay increasing attention to building inflationary pressure. Central banks should continue to stand ready to address liquidity problems in the banking sector, particularly in the euro area.

On Chinese property crash:

In addition to well-known downside risks associated with real estate in major advanced economies, an emerging risk to the global recovery stems from a potentially steep price correction in Chinese property markets. Residential real estate prices in some of China's larger cities have risen rapidly since the crisis, spurred initially by stimulative policies aimed at easing restrictions on real estate lending and subsequently by strong income growth, high savings, and limited alternate investment vehicles. Over the past year, the authorities have stepped up efforts to rein in property prices, recently announcing a range of measures, including raising the minimum down-payment for second-home buyers and enforced a 5½ percent business tax on properties sold within 5 years. Given the government guarantees in place, financial sector risks threaten the fiscal outlook. While it is difficult to predict how significant the stress from potential property price correction would be, if these risks are realized, there could potentially be global ramifications.

And most curiously, on what could be the headlines of tomorrow: "how the IMF fed a hungry world":

Sharp food price increases pose a particular challenge for many emerging and developing economies. The recent food price increases come in the wake of the deepest crisis since the Great Depression, when countries are more vulnerable and have, in  general, less fiscal space. In addition to the inflationary implications, the rapid increase in food prices may have adverse social implications, particularly in low income countries (LICs). To minimize the social and economic costs from rapid food price increases, policymakers would need to: (i) avoid discretionary policies, such as export bans and taxes and price controls, that  seek to insulate domestic markets, as such actions can increase world food price volatility; (ii) accommodate first-round effects, but be ready to tighten policies to avoid second-round effects that could result in persistent inflation; and (iii) ensure that the poor are protected, ideally through targeted and cost effective social safety net programs. The IMF also stands ready to boost its  financial support to LICs and other member countries to help them stem the adverse effects of rapid food price increases.

How providing additional capital does not lead to increasing local inflation in said "LICs" we fail to comprehend. But we will leave that logic to someone with an economics Ph.D.

Full report:

 

 


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Wed, 02/23/2011 - 17:15 | Link to Comment unwashedmass
unwashedmass's picture

 

what's to worry? Bennie already has the press running to keep the market up, he'll just run a few more 100B to hand out worldwide.....

what we should concentrate on is keeping those peasants in wisconsin under control.....they are getting WAY WAY too much air time...

before long someone is going to start talking about why the pension funds are empty....and bring up things like, oh, i dunno ,,,, MBS....

Wed, 02/23/2011 - 17:33 | Link to Comment Sudden Debt
Sudden Debt's picture

100 billion a week?

Wed, 02/23/2011 - 17:38 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Isn't that enough?

Ha!

Wed, 02/23/2011 - 19:02 | Link to Comment Sudden Debt
Sudden Debt's picture

I don't know... Africans have a pretty expensive taste...

Wed, 02/23/2011 - 17:33 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

MBS...pensions....silver supply/demand...oil production...fiat...I wouldn't call it the perfect storm, I would call it the perfect sh*tstorm.

Wed, 02/23/2011 - 17:16 | Link to Comment tony bonn
tony bonn's picture

"....flood of capital..."

fuck you lying asshole banksters.....debased currency is not a flood of capital....it is a flood of putrid donkey shit....

Wed, 02/23/2011 - 18:43 | Link to Comment Weisbrot
Weisbrot's picture

we may not be that far away from being egypt or crapistan

Wed, 02/23/2011 - 17:16 | Link to Comment LFMayor
LFMayor's picture

They can eat flies, I know they have plenty of those since I've seen it on the starving kid TV commercials.

Wed, 02/23/2011 - 17:25 | Link to Comment topcallingtroll
topcallingtroll's picture

Actually in those countries they look forward to termite mating season, all that flying protein tastes sweet and sour and has a crunchy texture. Best served raw.

I have been a student of teotwawki for a decade. I can find food anywhere!

Wed, 02/23/2011 - 17:33 | Link to Comment LFMayor
LFMayor's picture

LOL, yeah doc, I've actually tried roast termites that some missionaries smuggled in back in. (that was back in the 80's).  Tasted a lot like roasted soybeans, not bad at all.  Also watched a documentary where they were eating the Lake Victoria versions of mayflies, too.

When teotwawki hits, these populations are gonna drop everywhere (like flies!) because our food subsidy to them will dry up.  Wendigo will move into the warm climates, even. 

Wed, 02/23/2011 - 17:34 | Link to Comment Sudden Debt
Sudden Debt's picture

Once ate bugs in Thailand after a binch drinking contest.

I don't fully remember the details, but in the morning I still had their little feet in my mouth and a pretty discusting taste.

Wed, 02/23/2011 - 23:03 | Link to Comment vxpatel
vxpatel's picture

And Americans can eat the fat from their neighbors back, plenty to go around in the land of the fat lazy dumb consumers!

Wed, 02/23/2011 - 23:08 | Link to Comment vxpatel
vxpatel's picture

And Americans can eat the fat from their neighbors back, plenty to go around in the land of the fat lazy dumb consumers!

Wed, 02/23/2011 - 17:17 | Link to Comment potatomafia
potatomafia's picture

Geez, I didnt know the IMF had a farm..  Where is that located?

Wed, 02/23/2011 - 17:25 | Link to Comment TorchFire
TorchFire's picture

They do...they have named it "Monsanto". Location: Planet Earth. Once they get the whole world eating their garbage GMO slop, they will throw the kill switch and starve the people....er...i mean the useless eaters. The Elites with their seedbanks in Antarctica will be ok though. It all sucks.  Just look at what Monsanto is doing to the indigenous cotton grower in India. Evil bastards the whole fuckin' lot. 

Wed, 02/23/2011 - 19:04 | Link to Comment Sudden Debt
Sudden Debt's picture

Next to the soylent green factories.

 

Wed, 02/23/2011 - 17:20 | Link to Comment Josh Randall
Josh Randall's picture

"Let them eat GMO"...

Wed, 02/23/2011 - 21:30 | Link to Comment MrSteve
MrSteve's picture

Are genetically modified organisms keyed to certain genetically-altered pesticides and fertilizers or just patent royalties or all of the above?

Wed, 02/23/2011 - 17:21 | Link to Comment Segestan
Segestan's picture

Good place to start fixing these problems....Abolish the IMF and throw their ass' out.

Wed, 02/23/2011 - 17:21 | Link to Comment Scottj88
Scottj88's picture

How kind of the IMF...

This will go well with their desire to host the global currency too.  Too bad they own all this toxic paper debt as a proxy for debt....

Inflation coming soon... prepare yourselves...

http://thehardrightedge.com/troubledwater/

Wed, 02/23/2011 - 20:51 | Link to Comment Bob Sponge
Bob Sponge's picture

I would not be surprised to see the central bankers/IMF try to "help" the world via a one world currency.

Wed, 02/23/2011 - 17:20 | Link to Comment Snidley Whipsnae
Snidley Whipsnae's picture

They can send me all the 'invoices' they like...I will send my invoices to the Fed since they are printing my money...

Wed, 02/23/2011 - 17:22 | Link to Comment buzzsaw99
buzzsaw99's picture

Will the imf use helicopters to re-distribute the clownbux?

Wed, 02/23/2011 - 18:08 | Link to Comment Sean7k
Sean7k's picture

Global food stamps- get your microchip here...

Wed, 02/23/2011 - 17:22 | Link to Comment the not so migh...
the not so mighty maximiza's picture

All invoices will be returned to sender.  American tax payers don't live here anymore.

Wed, 02/23/2011 - 17:26 | Link to Comment plocequ1
plocequ1's picture

Thank god. I havent had a good meal in days. Where do i sign up? I like Pancakes

Wed, 02/23/2011 - 17:23 | Link to Comment Quinvarius
Quinvarius's picture

So, we are going to create more money to give to people to buy food?  That ought to stop the inflation.

Wed, 02/23/2011 - 18:03 | Link to Comment silver_serf
silver_serf's picture

+1

now we're getting it, just needed more money, fools!

Wed, 02/23/2011 - 17:22 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

OH HELL NO!

Wed, 02/23/2011 - 17:41 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

OI!  OI!  OI!

Wed, 02/23/2011 - 17:57 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

This is a dire prediction and deserves appropriate typesetting.

Food stamps for the world, bitchez! What's next IMF Section 8?

Wed, 02/23/2011 - 18:06 | Link to Comment silver_serf
silver_serf's picture

Next they will make the WI teacher's union face the starving 3rd world for their fair share of gubn'mnt chedda

Wed, 02/23/2011 - 18:30 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

What's better than a good old fashion urban-elementary American edubacation? Maybe Obama could have his crack dealer point man, Jayzee show up to do the pledge of allegiance.

Looks like the US taxpayer is going to have to foot the bill for most parts of this New World Order thingie.

Wed, 02/23/2011 - 19:06 | Link to Comment Things that go bump
Things that go bump's picture

Is it going to be a cage match?

Wed, 02/23/2011 - 17:25 | Link to Comment Cleanclog
Cleanclog's picture

Time to reread "Confessions of an Economic Hit Man" by John Perkins.  Very telling book on how IMF, World Bank, and the like subjugate those they help into indebtedness they can't escape and expand wealth gaps within those countries.  Now coming to the developed world I guess.

Wed, 02/23/2011 - 18:06 | Link to Comment ivana
ivana's picture

yes yes yes

+7653126298

But these days almost everybody knows the game.

That's why this bs crisis will last for years and years

Wed, 02/23/2011 - 18:32 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

I just dialed 765-312-6298 and a girl answered. Is that you ivana?

Wed, 02/23/2011 - 17:25 | Link to Comment Mae Kadoodie
Mae Kadoodie's picture

China announces enlistment of Bob Geldorf to spearhead All Star studded cast of musicians and entertainers for Live Aid ll: Feed the Americans.  Ministry of Food very concerned that if Americans are starving they will not be able to pay their debt.  More to follow.

Wed, 02/23/2011 - 17:30 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The tables are turning, and about time too. Time for the west to subsidize others leisurely lifestyles now. Let's see if the average U.S. citizen is capable of doing real productive work and not those token non-jobs they've been performing for the last few decades.

Wed, 02/23/2011 - 17:44 | Link to Comment LFMayor
LFMayor's picture

Token non-jobs?  You mean like inventing most of this fun shit that keeps your miserable lifespan prolonged past 38 years?  Or how about keeping the sea lanes open and free for trade, so that all that fun shit can actually make it to these savages?  Like pharma, ag (often given as "aid", the very goddamn internet that we happen to be communicating on...  but here I am repeating a diatribe I used a couple days ago. 

Since you leftists cannot be taught, you'll just have to be shown instead.  How I pray for the great economic collapse, the greatest and harshest lesson ever taught to useless eaters, world wide and live!  So when you're starving in the near future, and/or your more populous international neighbors are busy pillaging your neighborhood, I'd like you recall your dumbass statement and remember that here in flyover country, many useless Americans are growing so much food that we burn it in our vehicles, drink it for pleasure and even make whole kernel cat litter so our overweight pets can shit all over it.

Wed, 02/23/2011 - 18:44 | Link to Comment melachiro
melachiro's picture

You owe me a keyboard...great friggin' response but, you caused fluid release through my nose.

 

...f'ing moral relativistic lefties

Wed, 02/23/2011 - 19:08 | Link to Comment nufio
nufio's picture

true US has a lot of technological advances to its credit but if you look at numbers i think the majority of american population are doing "token non jobs".

american college graduation statistics: http://nces.ed.gov/programs/digest/d08/tables/dt08_271.asp?referrer=list

Wed, 02/23/2011 - 19:16 | Link to Comment nufio
nufio's picture

 


   Total ..................................................................................... 1,524,092 Business ........................................................... 327,531 Social sciences and history ........................................ 164,183 Education ............................................... 105,641 Health professions and related clinical sciences ............................ 101,810 Psychology ......................................... 90,039 Visual and performing arts ............................... 85,186 Biological and biomedical sciences ....................................... 75,151 Communication, journalism, and related programs .............................................. 74,783 Engineering ........................................... 67,092 English language and literature/letters ....................... 55,122 Liberal arts and sciences, general studies,   and humanities ................................. 44,255 Computer and information sciences ........................... 42,170
Wed, 02/23/2011 - 18:57 | Link to Comment tmosley
tmosley's picture

For every one of the productive workers you mentioned, there are two support workers (like barbers, firemen, etc) who are needed, and five government employees, five private employees to deal with the government employees, and five salesmen/women who are not.

The GP was referring to the latter group.  Yes, there are some scientists and factory workers still producing in this country, but they are getting fewer and fewer as time goes on.

 

Wed, 02/23/2011 - 19:07 | Link to Comment melachiro
melachiro's picture

TM,

If that was who he was talking about then I stand corrected.  As a small business owner in healthcare I am fully aware that I produce nothing but a service.  Without production and usage of our natural resources in a sound way I and WE are all screwed.

Wed, 02/23/2011 - 21:39 | Link to Comment robertocarlos
robertocarlos's picture

It's still disgusting that you grow corn so a cat can poop on it. At least Africa has proper cats.

Wed, 02/23/2011 - 17:32 | Link to Comment cranky-old-geezer
cranky-old-geezer's picture

IMF Says It Is Prepared To Loot US Taxpayers Under The Guise Of Feeding The World's Hungry (While Invoicing US Taxpayers For Looting Them)

Fixed it.

You're welcome.

Wed, 02/23/2011 - 17:31 | Link to Comment Sudden Debt
Sudden Debt's picture

Thats the last resort before it all crashes.

My silver never shined so nicely :)

Wed, 02/23/2011 - 17:32 | Link to Comment Seasmoke
Seasmoke's picture

working on a chain-gang , never looked that bad

Wed, 02/23/2011 - 17:32 | Link to Comment plocequ1
plocequ1's picture

Let them eat PCLN

Wed, 02/23/2011 - 17:33 | Link to Comment Misean
Misean's picture

"will end up being invoiced to... you - dear US taxpayer."

Go ahead, put it on my tab, along with the other trillion$. I'm good for it.

Wed, 02/23/2011 - 21:40 | Link to Comment MrSteve
MrSteve's picture

You sound like Ripley in Aliens, advocating nuking the mining station colonized by aliens. When the company man objects to the destruction due to the cost of the facility, Ripley tells him, "Bill me!"

Wed, 02/23/2011 - 17:35 | Link to Comment ivana
ivana's picture

ha ha ha ... great now we can eat as much as we want!!

Just wonder what will interest rate look like? Or any type of payback?

For TD: not only US taxpayers are paying for this ... many other countries and taxpayers worldwide which are in "globalized" financial markets are paying for this cynical scam idea of financial cabal.

Wed, 02/23/2011 - 17:39 | Link to Comment plocequ1
plocequ1's picture

I dub myself Non Taxpayer. I quit

Wed, 02/23/2011 - 18:10 | Link to Comment ColonelCooper
ColonelCooper's picture

I'm so close.  My job is hanging by a thread. Every check is possibly the last, and in a sick sort of way I almost can't wait for the axe to fall.  I am perfectly willing to live like a peasant if it means I am no longer playing this shit eating game.  Hell, I spend most of my life working so I can afford to live like a peasant in my spare time anyway.

 

Wed, 02/23/2011 - 19:04 | Link to Comment tmosley
tmosley's picture

I developed a plan for what I would do if I lost my job that excludes looking for another, should such an eventuality come to pass.  This includes building a nice aquaculture hut, installing more solar panels, and building an Earthship somewhere out off of the beaten path.  I like the ideas so much, I actually look forward to not having a job.  The work I plan to do would make me totally self sufficient, with a little extra income coming from selling electricity back to the grid, along with whatever I could get at the farmer's market to supplement my income.

I'm also considering putting together a reprap/self replicating machine shop.  If I lost my job, I would have lots of time for stuff like that.  If I didn't love my job, I would leave to go start that now.  Who says you need a job to live?  With my savings and some ingenuity, anyone can build a very comfortable life for themselves without much input other than labor and simple materials.

Wed, 02/23/2011 - 20:04 | Link to Comment Threeggg
Threeggg's picture

tmosley

"This includes building a nice aquaculture hut, installing more solar panels, and building an Earthship somewhere out off of the beaten path"

question:

are you the only-one in this newly dicovered hood with power, food and a spaceship ?

"I'm also considering putting together a reprap/self replicating machine shop"

question:

So your bringing a Dell A-920 all-in-one ?

 

Wed, 02/23/2011 - 21:56 | Link to Comment cxl9
cxl9's picture

Come to Mexico. Saw a place today when I was taking my morning jog on the beach: 1BR furnished flat right on the ocean for $160/mo., gas and water included. Add another $400/mo. for food and alcohol, and you could live just fine here on $700/mo. if you really want to go minimalist. One of my major reasons for moving here was to cut my cost of living to the point where I don't have to work as much and consequently will pay very little in American taxes. Let someone else pay for banker bailouts and Obamacare. The American way of life has become a rip-off.

Wed, 02/23/2011 - 17:36 | Link to Comment themosmitsos
themosmitsos's picture

I'm fucking *trying* to read this bullshit [IMF report], but it's like the Onion published it.

Wed, 02/23/2011 - 17:37 | Link to Comment Misean
Misean's picture

!!!!!??!!!! You weren't supposed to actually read it! RUN!!!!!

Wed, 02/23/2011 - 17:42 | Link to Comment no life
no life's picture

Need to make sure Idol is still on the tv too..

Wed, 02/23/2011 - 17:48 | Link to Comment trav7777
trav7777's picture

So the IMF can print food huh?  Or else do they mean they will print money to keep up with the increasing price?  That'll work, right?

The problem again is that no nation will let their currency appreciate against the dollar.  They are too beholden to their darling export ponzis built atop 40 years of our debt.

People act as if the USA is the only delusional nation; the activity in all these exporters wouldn't exist but/for our debt racket.  They have themselves to blame as well.

Wanna stop food riots all over?  Stop pegging to the dollar.

Wed, 02/23/2011 - 18:01 | Link to Comment ivana
ivana's picture

sooner or later some idiocratic "democracy" will start tax tarifs and other tools to decouple from "globalized" markets ... at that point starts deflation party

Wed, 02/23/2011 - 18:04 | Link to Comment Ragnarok
Ragnarok's picture

It truly is a global Ponzi.  So those in the US can take solace in the fact that we're all fucked and no country will escape the coming shit storm.

Wed, 02/23/2011 - 19:10 | Link to Comment Things that go bump
Things that go bump's picture

Thats cold comfort.

Wed, 02/23/2011 - 21:47 | Link to Comment MrSteve
MrSteve's picture

Certain EW gurus have postulated that all "all" paper currencies could be zapped by the big reserve currency reset yet he still persists in staying invested in nuclear powered entities' bonds. How does all that compute?

Wed, 02/23/2011 - 17:51 | Link to Comment SwingForce
SwingForce's picture

Hey like Mike Krieger says, it's not my debt. I do not donate to Social Security or Medicare so I don't care, but just how much can the 91% working class USTaxpayers bear?

Wed, 02/23/2011 - 17:51 | Link to Comment John McCloy
John McCloy's picture

Well ..New World Order goal of distributing wealth of the middle class & upper class and reverse socialism for them take the largest pieces of the pie for their "troubles" is no myth folks.

Wed, 02/23/2011 - 17:52 | Link to Comment Scisco
Scisco's picture

But you can't eat linen.

Wed, 02/23/2011 - 17:53 | Link to Comment savagegoose
savagegoose's picture

print me up a steak benny

Wed, 02/23/2011 - 17:59 | Link to Comment mt paul
mt paul's picture

let them 

eat dollars...

Wed, 02/23/2011 - 19:06 | Link to Comment Sudden Debt
Sudden Debt's picture

that little metal wire didn't pass FDA tests yet, but they're working on it...

 

 

Wed, 02/23/2011 - 18:12 | Link to Comment gwar5
gwar5's picture

People will come to love the IMF as the next bringer of food.

They'll be the next central planner and Economic Cargo Cult.

 

Cargo Cult Management: Tech News and Analysis «

 

 

 

Wed, 02/23/2011 - 18:10 | Link to Comment lynnybee
lynnybee's picture

I am learning.  I am asking a serious question.   Is this I.M.F. (bank) a criminal syndicate or not ?   Why do countries even get involved with this organization ? !   When I was growing up a bank was a respectable & trustworthy insitution !    I'm having a difficult time wrapping my brain around all the shit I read on the internet about the current state of banking !     

Wed, 02/23/2011 - 18:16 | Link to Comment Misean
Misean's picture

" When I was growing up a bank was a respectable & trustworthy insitution !"

When was that, 1837?

Wed, 02/23/2011 - 19:14 | Link to Comment lynnybee
lynnybee's picture

true ...... it was in the 1950's when we also went to church with little white gloves on our hands, ate family supper on Sunday with our grandparents, & drove cross country on ROUTE 66.    a time when no one even knew who worked in WASHINGTON or WALL ST.    all we knew is that we felt safe, we & our neighbors all had little houses on a 15 year mortage, & we all paid them off in 10 years.   Dad went to work, Mom stayed home & her grocery bill was $5 for the trip.   I sat at the local pharmacy soda fountain & ordered chocolate phosphates or cherry cokes for only 10cents & HERSHEY bars were a nickel.     we all carried around silver coins in our pockets & Dad & Mom saved money in banks for a rainy day ........... & then, NIXON.......

Wed, 02/23/2011 - 20:11 | Link to Comment oygevalt
oygevalt's picture

Lynnybee, I truly do appreciate your efforts to learn, but pursuant to an earlier thread... you do realize that Nixon was decidedly not Jewish, don't you?

Wed, 02/23/2011 - 21:21 | Link to Comment lynnybee
lynnybee's picture

L.O.L. .......... but, HENRY KISSINGER IS !!

Wed, 02/23/2011 - 21:50 | Link to Comment oygevalt
oygevalt's picture

Yes, he happens to be, and I'll never argue in his favor - but I really want to put this question to you.  Sticking with the recent financial crisis for argument's sake: Geithner, Bernanke, Paulson, Bush, Greenspan... most of that quick list are Jews.  All are men.  All are white.  All are Americans.  Why are you suspicious of the Jewishness and not the other aspects of their identities?

Thu, 02/24/2011 - 00:27 | Link to Comment trav7777
trav7777's picture

perhaps that you can make other quick lists excluding the american part.  And you can make other lists where the other attributes have low correlations.

I mean, gfd, you got a gigantic majority of jews and you come and say oh what about the fact that they all have hair

Thu, 02/24/2011 - 05:55 | Link to Comment oygevalt
oygevalt's picture

They all seem to have gone to elite colleges, too.  And have gotten married and had children.  Jewishness is not common to all of them.  Since when is a "gigantic majority" 3 of 5, especially since I deliberately chose a list with a majority so I wouldn't be accused of leaving out anyone important?  Kashkari- pretty sure he's not Jewish, for example.  Everybody loves to compare the US now to Weimar Germany, and no serious person now argues that Jews caused Weimar inflation, and look what happens when a group gets hated on as a scapegoat.  Why not think of that before screeching?

Wed, 02/23/2011 - 19:08 | Link to Comment Common_Cents22
Common_Cents22's picture

IMF=central bank without borders, possibly eventual central bank of central banks.

Wed, 02/23/2011 - 19:21 | Link to Comment gwar5
gwar5's picture

What they said, plus:

The IMF is a "fund" that was supposed to function as an economic liver and sop up economic messes of the 187 member nations. They have 2,900 metric tonnes of gold as of July 2010. The IMF is an international organization HQ'd in DC that helps currency stabilization and distressed countries clean up their default messes, etc. Formed in 1946 at Bretton Woods. For many years critics have said it has become an pernicious instrument of economic imperialism (true). Over time it has come under more UN and European influence than the World Bank. Most recently, the IMF has been acting and behaving as a functional bank by issuing bonds, being a clearing house for SDR's (special drawing rights) for countries like China that don't want to accept failing currencies like the USD, and even proposing a new world currency (bancor) of their own.  Joseph Stiglitz has been calling for even closer ties with the UN. Global bank, global government = NWO. A Global Central Bank that can issue fiat currency could wield immense power and effectively abolish sovereignty and democracy. Considering how sociopathic the current Central Bankers are, I'm sure there's no reason to think elevating  unelected elitists to ultimate power would make it worse. Paranoid yet?

The World Bank is a US dominated counterpart, also formed at Bretton Woods. But this a US sponsored bank and has always been considered an instrument of US economic imperialism by critics under the guise of helping poor countries. The head of the bank must be a US citizen. Also HQ'd in DC.

 

 

Wed, 02/23/2011 - 19:32 | Link to Comment A_MacLaren
A_MacLaren's picture

That's 2 questions lyynybee...

Is this I.M.F. (bank) a criminal syndicate or not ?

In my opinion, yes, not that the world court or any other competent court with jurisdiction would agree.  However the court of popular opinion might (once they understood it).  ;-)

Why do countries even get involved with this organization ?

Countries don't get involved, their "leaders/rulers" make that decision for them.  If a vote would have been taken by the populous of those afflicted nations, I would guess the answers would be a resounding F.U.  But then again, even Iceland took their loans...

Wed, 02/23/2011 - 21:16 | Link to Comment Yes_Questions
Yes_Questions's picture

No LynnBee, there is no Santa Claus.

Presumably you are less than 98 yrs of age so, on that assumption, banskter filth was cheating your folks (and all working people) when you were growing up.

 

Wed, 02/23/2011 - 21:24 | Link to Comment Yes_Questions
Yes_Questions's picture

I junked myself for being rude..

 

Wed, 02/23/2011 - 21:25 | Link to Comment lynnybee
lynnybee's picture

it's obvious ........ i was living in a 1950's la-la land most of my life, that's what happens to good little Dutch girls living in a good little small town.  i was raised in some sort of sheltered small town reality ..........  no one has to rub it in anymore.   I get it, people !!  THOSE DAYS ARE GONE, WELCOME TO REALITY !  

Wed, 02/23/2011 - 21:30 | Link to Comment Yes_Questions
Yes_Questions's picture

Thats why I junked myself.  You did not deserve my Snarky Ass Remark.

 

BTW, Hang in there: your are amongst friends.

Thu, 02/24/2011 - 06:33 | Link to Comment Overflow-admin
Overflow-admin's picture

1) IMF is a criminal syndicate. Just learn from history. I.e. Argentina 1995+.
2) Countries get involved because of politic weakness. Just think what you might do in such case, when el padrino makes you an offer you can't reject. There are still other options but at that time all seem worse (short-term) than accept the lobby's offer.

Wed, 02/23/2011 - 18:44 | Link to Comment metastar
Wed, 02/23/2011 - 18:26 | Link to Comment jkruffin
jkruffin's picture

RUT-RO, this is a Nasty H&S

http://finance.yahoo.com/q/bc?s=^DJI&t=my&l=off&z=l&q=c&c=

look out below!!!!

Wed, 02/23/2011 - 19:01 | Link to Comment gaoptimize
gaoptimize's picture

____, ________ knees and toes, knees and toes

Wed, 02/23/2011 - 18:33 | Link to Comment Diamond Jim
Diamond Jim's picture

I suggest the IMF go out and rent a copy of "Soylent Green"....and as far as handing us the bill.....screw them.

Wed, 02/23/2011 - 18:36 | Link to Comment DonutBoy
DonutBoy's picture

I know this is bad - but I just laugh.  "With inflationary expectations well-anchored.."  LULZ.  The global spin-game.  Thanks to ZH for shedding light in the dark corners so the liars can't hide.

Wed, 02/23/2011 - 18:38 | Link to Comment Common_Cents22
Common_Cents22's picture

Hey, an AAPL a day keeps the riots away!

 

MicheleO (while snacking on ribs) sez, two SNAPs up!

Wed, 02/23/2011 - 18:46 | Link to Comment Judge Judy Scheinlok
Judge Judy Scheinlok's picture

The 1600 Pound Gorilla. Obama foundering like a horse who broke free from his stall and engorged on a 50lb bag of grain. The internal fermentation process will soon twist his intestines.

"Last Friday’s American veto of the United Nations Security Council resolution that would have called Israeli settlement activity on the West Bank illegal was not only shameful, it was possibly the low point of the already foundering Obama presidency. To be sure, United States UN Ambassador Susan Rice accompanied the veto with a stirring rendition of “I’ll cry tomorrow” as she described how the Obama White House really is opposed to the settlements."

http://mycatbirdseat.com/2011/02/philip-giraldi-aipac-vetos-u-n-resoluti...

Wed, 02/23/2011 - 18:52 | Link to Comment RichardENixon
RichardENixon's picture

So the U.S. taxpayer goes from being the bottom guy to being the Lucky Pierre.

Wed, 02/23/2011 - 21:53 | Link to Comment MrSteve
MrSteve's picture

Somebody has  to make the sandwiches or the IMF ain't gonna have the picnic it is promisin'

Wed, 02/23/2011 - 19:06 | Link to Comment gabeh73
gabeh73's picture

Unelected Bilderberg water-carrier David Cameron wasted little time in making nice with Egypt’s new post-”revolution” military dictatorship as part of an effort to cash in on the tidal wave of “democracy” now sloshing around the region.

The British Prime Minister led no less than eight (yes – eight!) different defense firms on a tour of the region, even as Libyan dictator Colonel Gaddafi used weapons bought from British companies to slaughter hundreds of protesters.

 


<A HREF="http://www.youtube.com/watch?v=ff7_gM_SoAk"><font color=blue>new bosses expected to buy more weapons than old bosses </font></A>

Wed, 02/23/2011 - 21:55 | Link to Comment MrSteve
MrSteve's picture

Hey no problem! it's all fully deductible as a business trip, business as usual.

Wed, 02/23/2011 - 19:16 | Link to Comment dcb
dcb's picture

twilight zone unreal

Wed, 02/23/2011 - 20:27 | Link to Comment AldoHux_IV
AldoHux_IV's picture

The IMF is the epitome of centrally planned economic idiocy.  This organization is a front for the elite to continue their enslavement of nations through the guise of aid but the cruel yoke of debt.  To find nations in their most dire moment (which they helped create in the first place) they then take advantage of less informed nations.  This is very much how evil works-- creating the dire straits and providing a false hope.  The IMF needs to be dissolved and all workers past and present be tried for their crimes against humanity.

Wed, 02/23/2011 - 21:30 | Link to Comment lynnybee
lynnybee's picture

thank you !!  that's the kind of explanation / education i was asking about earlier !!  merci beaucoup !  

Wed, 02/23/2011 - 20:40 | Link to Comment curbyourrisk
curbyourrisk's picture

Bernanke is currently trying to figure out how to print OIL.

Wed, 02/23/2011 - 20:45 | Link to Comment Sizzurp
Sizzurp's picture

The Fed, IMF, BIS and various other assorted central planner idiots caused all this to begin with.  Now they want us to bail them out for their epic fail.  Sorry, I think not.  The French devised an ingenious cure for inflation during the French revolution.  They discovered that if you chop off enough heads they stop printing money.  Throw in gold Napoleans and viola, problem solved.

Wed, 02/23/2011 - 20:54 | Link to Comment robertocarlos
robertocarlos's picture

Sounds like a good plan. I vote yes.

Wed, 02/23/2011 - 20:57 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

I'm not paying for it.

Wed, 02/23/2011 - 21:05 | Link to Comment robertocarlos
robertocarlos's picture

Why do you pay for all the useless eaters in your own country? Shouldn't you be revolting?

Wed, 02/23/2011 - 22:01 | Link to Comment MrSteve
MrSteve's picture

Who or what is more revolting than someone like you advocating genocide on the masses, labeling them "useless eaters"? Is there any more fascist assumption possible than robertos' here about the utility of humans that you could make? Apparently it is not only bankers who we should be labeling as zombies..

Wed, 02/23/2011 - 22:46 | Link to Comment Bobbyrib
Bobbyrib's picture

The IMF just said they wanted to change the reserve currency of the world from dollars to something else. Now they want us to print money for food inflation caused party by our Federal Reserve? I agree with everyone else calling this a joke...

Wed, 02/23/2011 - 23:41 | Link to Comment michigan independant
michigan independant's picture

http://www.youtube.com/watch?v=uuiKJ0rRTAo&feature=related

Congratulation's you're one step closer to hitting the bottum.

 

http://www.youtube.com/watch?v=Yxz58T2638M&feature=related

You are working for something more than you.

 

 

 

 

 

 

 

 

 

Thu, 02/24/2011 - 00:17 | Link to Comment sgorem
sgorem's picture

 "considering also that the recovery is expected to remain sluggish going forward." Yeah, like a fucking squashed slug. I just cannot, to this day, comprehend ALL of the fucking pearl studded scrotum sucking morons on this planet. I feel all alone, until I open the vault.........

Thu, 02/24/2011 - 06:38 | Link to Comment vxpatel
vxpatel's picture

I worked at the World Bank for 3 years...never heard the word poverty used their, not once, not even over latte's and fine wine in the company cafeteria. Which happens to be subsidized and one of the best restaurants in DC.

God save the rich, kill the poor.

Thu, 02/24/2011 - 08:49 | Link to Comment rustymason
rustymason's picture

Who could even have guessed that our fate under Obama, the neo-cons, and the other MultiCultists/globocapitalists would be that of Detroit, Brazil, Rhodesia, South Africa?  Total surprise.

Thu, 02/24/2011 - 10:17 | Link to Comment Weisbrot
Weisbrot's picture

only to the kool-aide drinkin' dummies that voted them in

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