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Meet Greece's New Saviour
Many have asked why all the consternation about the IMF bailing out Greece. After all as Bob Pisani claims it is headed by some woman called Dominique Strauss-Kahn? That name sure doesn't sound like it came from Alabama. So what is the big deal?
Exhibit A - the headquarters of the International Monetary Fund:
Exhibit B - A listing of all the parties that make up the IMF's lending capacity
Japan - $100 Billion
- IMF Signs US$100 Billion Borrowing Agreement with Japan (February 13, 2009)
- Borrowing Agreement with the Government of Japan
- IMF Lending: IMF Signs $100 Billion Borrowing Agreement With Japan
- IMF head Dominique Strauss-Kahn thanks Japan for $100 billion loan
European Union - $178 Billion
- IMF Signs Agreement to Borrow up to €1.03 Billion from the Czech National Bank (March 31, 2010)
- IMF Signs €120 Million Borrowing Agreement with the Central Bank of Malta (February 12, 2010)
- IMF Signs Agreement to Borrow up to €4.74 Billion from the National Bank of Belgium (February 12, 2010)
- IMF Signs Agreement to Borrow up to €440 Million from the Slovak Republic (February 12, 2010)
- IMF Signs €1.06 Billion Borrowing Agreement with Banco de Portugal (November 30, 2009)
- IMF Signs €1.95 Billion Borrowing Agreement with the Danish Central Bank (November 4, 2009)
- IMF Signs €5.31 Billion Borrowing Agreement with De Nederlandsche Bank (October 5, 2009)
- IMF Signs €4 Billion Borrowing Agreement with Spain (October 5, 2009)
- IMF Signs €15 Billion Borrowing Agreement with Deutsche Bundesbank (September 22, 2009)
- IMF Signs €11 Billion Borrowing Agreement with France (September 4, 2009)
- Statement by IMF Managing Director Dominique Strauss-Kahn on the European Union’s Announcement of Additional Financial Support (September 4, 2009)
- IMF Signs US$15 Billion Borrowing Agreement with the United Kingdom (September 1, 2009)
- Statement by IMF Managing Director Dominique Strauss-Kahn on the European Union's Announcement of Financial Support for the IMF (March 20, 2009)
Norway - $4.5 Billion
- IMF Signs US$4.5 Billion Borrowing Agreement with Norway’s Central Bank
(July 6, 2009) - Statement
by IMF Managing Director Dominique Strauss-Kahn on Norway's
Announcement of Possible Financial Support for the IMF of up to about
US$4.5 billion (March 28, 2009)
Canada - $10 Billion
- IMF Signs US$10 Billion Borrowing Agreement with Government of Canada (July 8, 2009)
- Statement
by IMF Managing Director Dominique Strauss-Kahn on Canada's
Announcement of Financial Support for the IMF of about US$10 billion (April 3, 2009)
Switzerland - $10 Billion
- Statement
by IMF Managing Director Dominique Strauss-Kahn on Switzerland's
Announcement of US$10 Billion in Financial Support for the IMF (April 8, 2009)
United States - $100 Billion
- IMF
Managing Director Dominique Strauss-Kahn Welcomes U.S. Congressional
Approval of IMF-Related Legislation, Including U.S. Financial
Commitment of Up to US$100 Billion (June 18, 2009) - Letters from the President of the United States to U.S. Congressional Bipartisan Leadership on NAB Fund (April 20, 2009)
Korea - At least $10 Billion
- Korea Finances IMF's Lending Resources (May 4, 2009)
Australia - $5.7 Billion
Russia - Up to $10 Billion
China - Up to $50 Billion
- IMF Signs US$50 Billion Note Purchase Agreement with China (September 2, 2009)
- IMF Managing Director Dominique Strauss-Kahn Welcomes China’s Intention to Invest Up to US$50 billion in Notes Issued by the IMF (June 9, 2009)
Brazil - Up to $10 Billion
- IMF Signs US$10 Billion Note Purchase Agreement with Brazil (January 22, 2010)
- IMF
Managing Director Dominique Strauss-Kahn Welcomes Brazil’s Intention to
Invest Up To US$10 Billion in Notes Issued by the IMF
(June 10, 2009)
India - Up to $10 Billion
- IMF Signs US$10 Billion Note Purchase Agreement with India (March 12, 2010)
- IMF Managing Director Dominique Strauss-Kahn Welcomes India's Commitment to Buy up to US$10 Billion of IMF Notes (September 5, 2009)
Singapore - $1.5 Billion
- IMF Managing Director Dominique Strauss-Kahn Welcomes Singapore’s Commitment of Additional Financial Support for the IMF (September 8, 2009)
Chile - $1.6 Billion
- IMF Managing Director Dominique Strauss-Kahn Welcomes Chile's Commitment of Additional Financial Support for the IMF (September 24, 2009)
»
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yeah some international monetary babe runs it
Maybe RoboTrader can hook us up with a pic of the IMF babe. ;)
its a dude I think
Dominique Strauss-Kahn is a man. Pisani has shown once again that he knows nothing. Never reads a newspaper. He is a talking head.
A picture for Bob:
http://www.imf.org/external/np/omd/bios/dsk.htm
Bummer. And I was hoping for a dominatrix -- something along these lines:
http://en.wikipedia.org/wiki/File:Ma%C3%AEtresse_Fran%C3%A7oise.jpg
Nah, see the shackes? That's the IMF lady :)
[being from a former IMF subject country I should know]
Yeah, that's the guy. Just take off the wig and put some hair on that chest, and voila!
Bruce : exactly. +100 Euros.
Now that's one for the record books. The "most reputable financial news channel" doesn't even know if the head of the IMF is a man or a woman?
GenderTalk.MSNBC.com
Bob..... go join your wife and huxter houses for a living. Doing that requires no thought or edumacation.
......and Geithner needs to go to jail.
+1
LMAO. PISANI FAIL.
Bob-o, educate yourself, you moron.
Maybe Bob "Piss on me" Pisani is just seeing what he wants to see?
A picture of Bob "C3PO" Pisani aka "The Genius":
http://www.cs.bris.ac.uk/admissions/schools/Seminars/Images/C3PO.jpg
Bruce, you are so right, it's embarassing that this guy has air time!
He clearly meant to say "... some womanizer named Dominique Strauss-Kahn..."
Dominique Strauss-Kahn (born 25 April 1949 in Neuilly-sur-Seine, Hauts-de-Seine), often referred to as DSK[1]; , is a French economist, lawyer, and politician, member of the Socialist Party (PS)
some international monetary french socialist dude runs it
Im just sick of it all. Sitting on top of a nuke wondering when they can no longer turn the mechanism back a few minutes to prevent it from going off.
Damocles lived his whole life under a dangling sword.
Dude, dudette, what does it matter? I'm more ticked by the fact that the IMF is principally funded by two already bankrupt countries: the US and the UK. As I live in one of those, and will pay for this bailout, I'm scheduling a stop at Walgreen's on the way home for some jelly...
Can you at least read the information posted on ZH?
EU financing = US$ 178 Million.
USA financing of the IMF = US$ 100 Million. Same level as Japan.
UK is part of the EU. So, the EU is financing the whole thing. Whether the EU is about to implode is left as an exercice for the reader.
Thanks for your suggestion. As it happens, I read lots of things, ZH is among them.
Try: http://www.petersoninstitute.org/publications/chapters_preview/3870/23ii...
The IMF "quotas" among member countries are particularly hard on most of the smaller countries, typically at least 15% of their "assets" can't be drawn upon because the little guys owe but haven't ever actually paid. Among the reminaing countries, only 25% of the quota payers have currencies that are suitable for direct use, the rest use the ubiquitous SDR, which is the fiat currency of the international community set, all of which in the end gets backed by the core countries that have usable currencies.
My only hope is that the IMF has as much difficulty getting "approval" from their various disparite masters on this bailout deal as they do in obtaining authorization for their bi-monthly announcements regarding their intent to sell yet more tones gold before the price goes any higher...
Well yea I did read the information posted on Zerohedge.
You need to replace those 'M's with 'B's.
Ah yes, the Wrath of Khan...where the Genesis Device reorganizes all matter in the Nebula.
Only in the fantasy of modern global finance is this considered 'being saved'.
I was more hoping for the Omega-13 from GalaxyQuest. That would have a far better chance of doing something useful for all of us.
I like the BRICs up to values. Don't count on it...
Tyler I think you forgot to list the most important contributer
Federal Reserve Printing Press - $ Up to Infinity
Bingo, we have a winner!
Tyler I think you forgot to list the most important contributer
Federal Reserve Printing Press - $ Up to Infinity
It's a man, baby, YEAH!
Shall we shag now, or shall we shag later? How do you like to do it? Do you like to wash up first? You know, top and tails... whore's bath? Personally, before I'm on the job, I like to give my undercarriage a bit of a 'how's your father'!
Yo, Pisani! Does this mean that that former Atlanta Hawks/Boston Celtics guard with the 43" vertical leap (Dominique Wilkins) was in drag, too? Could have fooled me.
Geez, would it hurt this putz to do 5 seconds of homework to justify his paycheck? It's not like Strauss-Kahn isn't on tv every day or so, albeit not on the cartoon network.
Greek's savior is the junta.
I will make a few calls to my spys at the IMF and get to the bottom of this.
Most or all of the european and asian "support" for the IMF is underwritten by the US and the Fed/Treasury/Wall St. cabal. In other words, the US prints the money, then swaps or gives the money to these various countries, and then these various countries "pledge" the funds to the IMF... who will then structure a never-ending string of bail outs (Greece is only the beginning) via which the IMF funds are funnelled directly to private Wall St. banks and other guilty/criminal participants.
None of this concerns the average american serf... move along, nothing to see here...
IMF = US taxpayer & currency on the hook to bailout EVERYONE ON THE PLANET.
Exactly. The IMF is the bankers’ plan for world government; they plan to morph it into a single central bank, with one currency, one printing press.
“Don’t ever ask a question,“ the old lawyer reminds us, “unless you know the answer.” And don’t put the money and the power into an organization such as the IMF unless you know who runs it, its purpose and if you can trust it to operate on your behalf. The IMF, after all, is a creature of the U.S. central bank, the Fed. And the officials who run it can be trusted to deliver for the owners of the Federal Reserve.
As country after country falls into bankruptcy under financial fraud, the IMF/World Bank globalists will force nation after nation to hand over their sovereignty to an international monetary regime directed toward a central-controlled world economy, where the U.S. eventually is reduced to just one part of the collective whole.
Insider players who form the IMF weave in and out of the international banking cartel. Timothy Geithner, a former director of the Policy Development and Review Department at the IMF and now U.S. Treasury secretary, already has called for an eventual world currency. Among other IMF officials are the scandal-tainted, left-leaning Socialist Dominique Strauss-Kahn, an important link to central bank officials; JP Morgan’s John Lipsky and David Romer, husband of Christina Romer, head of Obama’s Council of Economic Advisors.
As to the questionable future of the U.S., IMF Managing Director Strauss-Kahn has called on Asia to play a leading role in guiding the global economy to “a new, more sustainable path for global growth.”
Lipsky, a senior official of the IMF, has said how inadequate the world’s regulatory supervisors were in curbing the lax lending standards at the heart of the housing and credit bubbles, with the implication that new standards likely will give IMF officials more power. Lipsky is former Vice Chairman of the JP Morgan Investment Bank. In this position, he advised the firm's principal market risk takers, published research on the principal forces shaping global financial markets, and was actively engaged with JP Morgan's key clients and key decision makers around the world.
The IMF’s sister organization, the World Bank, is headed by Robert B. Zoellick, former managing director of Goldman Sachs and a signatore of a letter drafted by the Project for a New American Century to President Clinton calling for "removing Saddam [Hussein]'s regime from power," i.e., Middle East war.
Maybe the IMF can raise sone fast cash by selling more of that fictious gold they claim to have? Oh, wait, GATA is selling the same 191 tons yet $100 BELOW market value per ounce... provided you agree to the same IMF terms of course.
www.gata.org/node/8495
Euro tranny.
IMF just needs to watch CNBC, where they can make some Mad and Fast Money, on some Options Action!!
Hey CNBC jackasses BTW Dominique is a MAN, not some financial chick as you announced. But what do you care, your only job is to provide cover for Wall St.
Demonique Strauss Chan, silly it's the reincarnation of Mr. Genghis, baby.
Greek media propaganda say that IMF is a Saviour. We, Greeks must obey according to propaganda
"The value of the sword is not that it falls, but rather, that it hangs." Another interpretation of the Sword of Domacles from wikipedia. I think the sword is more of a danger to the big countries than the little ones. Also Popadous doesn't want to go to the IMF, because if he did he would have went awhile ago. He's trying to get some type of loan from europe where it has "promises" on it that he and his country won't uphold. With the IMF they will essentially have the countries financial system in receivership and Greece will be forced to do what the IMF wants (smaller countries have no choice in many cases, the larger ones like russia can get away from thumbing their nose but eventually they do pay) or they won't be able to be part of the global financial system or sell bonds to other countries etc.. He wants a sweetheart deal with imaginary strings (at least on his part), but with the IMF he knows that he will be under the gun.