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The Ebola Epidemic Silver-Lining: IMF Bailouts For Everyone
Never waste a good crisis. While we already knew a major reason for The West chasing into Africa was to leverage its relatively low credit levels as the last bastion of Keynesian-stimulus-hope in the world (estimated at between $5 and $10 trillion in secured debt, using its extensive untapped resources as first-lien collateral). And so it is little surprise that, as The WSJ reports, The International Monetary Fund on Thursday warned the West African Ebola epidemic requires a "large scale" global intervention to control a crisis that is ravaging economies in the region. All three major Ebola-suffering countries were already in bailout programs ($200mm loan in 2012 for Guinea, $100mm loan for Sierra Leone, and $80mm credit facility for Liberia) but with the "world community taking forever to respond," The IMF is happy to step in and secure some assets / lend over $100mm more to each nation to fill financing gaps.
As The Wall Street Journal reports,
The International Monetary Fund on Thursday warned the West African Ebola epidemic requires a "large scale" global intervention to control a crisis that is ravaging economies in the region.
The IMF, the world's emergency lender, said it is in talks to boost bailouts for Sierra Leone, Guinea and Liberia as the disaster slams economic output and overwhelms government financing.
"Beyond the human toll that this outbreak is exacting, the Ebola outbreak looks set to cause significant harm to the economies of Guinea, Liberia and Sierra Leone," IMF spokesman William Murray said in a news conference Thursday.
Of course, we noted previously the economic collapse this epidemic was having
This year was supposed to be a bright one for the three deeply poor governments bearing the brunt of West Africa's Ebola problem. After 50 unbroken years of dictatorial misrule, Guinea—a democracy since 2010—had planned to auction off a multibillion iron-ore concession. Liberia, scene of a horrific 14-year-long civil war, had begun auctioning off offshore oil blocks. Sierra Leone was set to be Africa's fastest-growing economy for the second time in three years, the IMF had projected.
But now the fund estimates the epidemic will cut growth in Sierra Leone to 8% this year from a previous rate of 11.3%. Liberia's growth will more than halve to 2.5%. Guinea will see its prospects fall to 2.4% from a previously expected rate of 3.5%, the fund said.
So The IMF will lend them even more money, putting them in even more debt...
All three countries were already in bailout programs. The IMF approved a $200 million loan in 2012 for Guinea, a $100 million loan for Sierra Leone late last year and signed an $80 million credit facility for Liberia two years ago.
The World Bank has also boosted its financing to the region, mobilizing a $230 million package for the three worst-hit countries, including $105 million in emergency grants.
Each of the three countries faces a financing gap of between $100 million and $130 million due to the havoc hitting agriculture, trade and other commerce, the fund said.
* * *
Finally, as we noted before, this move by The IMF appears to be exactly what they hoped for...
While those in the power and money echelons of the "developed" world scramble day after day to hold the pieces of the collapsing tower of cards in place (and manipulating public perception that all is well), knowing full well what the final outcome eventually will be, those who still have the capacity to look, and invest, in the future, are looking neither toward the US, nor Asia, and certainly not Europe, for one simple reason: there is no more incremental debt capacity at any level: sovereign, household, financial or corporate. Because without the ability to create debt out of thin air, be it on a secured or unsecured basis, the ability to "create" growth, at least in the current Keynesian paradigm, goes away with it.
Yet there is one place where there is untapped credit creation potential, if not on an unsecured (i.e., future cash flow discounting), then certainly on a secured (hard asset collateral) basis. The place is Africa, and according to some estimates the continent, Africa can create between $5 and $10 trillion in secured debt, using its extensive untapped resources as first-lien collateral.
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Africans driven into slavery again, this time by debt.
Ahhh... The IMF Loans...
They say Silver-Lining, but they don't mean it.
99 conditions, but the debt ain't one.
Imagine... Jackson Hole as an Ebola hot spot..... unknown until the banksters get home to their wives & skank mistresses.
Dang, what a rage.... I gotta fap this one off.
Imagine Ebola rampant in Israel home of the Jew...
That map doesn't include Alaska -- which is a huge part of US territory.
That was 'China - Part 2'
Swiss Bankers are loving it; the African Dick-Taters lining up to deposit their share of the IMF Loot or purchase another chateaus on Lake Geneva.
Bullish!
The IMF will counsel: “There is no better time to embrace severe austerity and hand over your remaining assets than after you have been ravaged by Ebola”.
I'm surprised there wasn't any mention of Ghana's $1B eurobond placement at 8.125 a few days ago - while it is in the midst of negotiating an IMF bailout. (ostensibly because it cannot borrow in the marketplace)... Taking WTF??? to a whole new level.
Nothing like abusive usury. And the Rothschilds go "Amen".
Fascists. Wow. IMF/WB/OECD/BIS/WTO What a magnificent Cartel.
You forgot WHO ;-)
The IMF is an evil organization, and I guarantee that any African nation being provided any financial "assistance" by it will have to literally pledge critical infrastructure and mineral/oil deposits as collateral for that assistance.
The IMF is the same entity that, along with Bechtel of the U.S., tried to get the government to pass legislation criminalizing collection of rain water by sovereign citizens of Bolivia, as a condition to loan assistance for infrastructure improvements (they even encouraged the Bolivian gov't to use live ammunition against protesters, killing and seriously wounding many young people).
http://www.pbs.org/frontlineworld/stories/bolivia/timeline.html
The people who sit as directors of the IMF, with smiles and silver tongues, are evil people with banksters' & globalists' agenda as their true mission.
Jews
It's not collateral, it's sale under duress. I can see it now - We (banking cartel) work all morning to create some FRNs for them at no cost, and then in a little while, we get our choice of the prizes.
PTI,
Damn..... IMF..WB...equals....payday loans....and car title....scams
How true.
Lagarde with ebola. Now thats something i would enjoy
Would she bleed red? Or orange?
Tricolor French, just like the last head of the IMF.
Course it could be UN blue, lets find out! ;-)
I'm thinking she bleeds white, like a surrender flag. She is French, don'tchyaknow?
my roomate's sister-in-law makes $72 hourly on the laptop . She has been out of a job for 6 months but last month her payment was $18482 just working on the laptop for a few hours. use this link... www.payvalt.com
So the corrupt at the top get a slush fund in these countries as well. Do these IMF morons realize that less than 1% of funds thrown at 3rd world countries actually make it into the gp?
"Do these IMF morons realize that less than 1% of funds thrown at 3rd world countries actually make it into the gp?"
Do YOU think they give even one flying fuck?
The bankers don't care where the money is used. Their only concern is the return they get on their "investment".
Their only concern is the return they get on their "investment".
So much irony, so little time.
Investment = The Treasury issuing bonds that the Fed buys, then releases pixels on a screen into an "account" to the IMF. US Taxpayer on hook for it.
Return = They all default, IMF gets drilling mining etc. rights. Fed gets theirs from US Govt.
Sweet!
And if the parties refuse to play along an alphabet agency creates havoc in your country. If they can't get the job done the MIC can always bomb some freedom into you.
If you don't play along I will hold my confetti and bomb you into the Stone Age
First the economic hit men. If they fail.
Second send in the jackals. If they fail.
Bombs and boots.
Any place you find turmoil you can find a banker who will profit from it.
USA has everyone beat though, but we can't swear who is Running the USA. FED, Jesuits, Zionist, Masons, Illuminati... still look at the Long Term Sales of US Treasuries:
Repost:
Check page 35 of both TICData reports (2002 & 2013) for Belgium, Cayman Islands, and Luxemburg. LT US Treasuries go from $10 Billion to $366 Billion. (partly due to safe haven effect, but also due to Financial System on Steroids) Or just take a look below to refresh your memory.
Interesting of the $26 Trillion in Foreign Owned US Assets put out by BEA.GOV on IIP Data, looks like about half is accounted for in the 2013 Data Report as Equities, LT Corporate Debt, LT Agency Debt, LT Treasuries. Which leaves me to conclude foreign owned US Real Estate must be about $12-14 Trillion (page 30). But I am not an Economist or Financial guy. Maybe Europeans are also buying US Real Estate.
http://www.treasury.gov/ticdata/Publish/shl2002r.pdf
http://www.treasury.gov/ticdata/Publish/shla2013r.pdf
(http://www.treasury.gov/ticdata/Publish/mfh.txt)
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm
Last Data is from April 2014.
Belgium 2002 = $10.8 B, then 2013 = $163 B, Today $366 B
Cayman Islands 2002 = $10.7 B, then 2013 = $66 B, Today ??
Canada 2002 = $8.4 B, then 2013 = $46.6 B, Today $60.5 B
China 2002 = $95 B, then 2013 = $1,272 B, Today $1263 B
Hong Kong 2002 = $37 B, then 2013 = $89 B, Today $155 B
Ireland 2002 = $6 B, then 2013 = $91 B, Today $112 B
Japan 2002 = $260 B, then 2013 = $1,023 B, Today $1210 B
Luxemburg 2002 = $20.2 B, then 2013 = $107 B, Today $141 B
Philippines 2002 = $3 B, then 2013 = $36 B, Today $34 B
Poland 2002 = $7 B, then 2013 = $31 B, Today $30 B
Russia 2002 = $3 B, then 2013 = $138 B, Today $116 B
Switzerland 2002 = $28 B, then 2013 = $157 B, Today $178 B
Taiwan 2002 = $0 B, then 2013 = $183 B, Today $175 B
United Kingdom = $45.7 B, then 2013 = $130.6 B, Today $186 B
Let's Tie UK & Ireland LT US Treasuries purchased by these countries... in the US Global Wars...and to after the 2008 Financial Scandal & Crisis.
So let's look at Debt:
we are becoming the UK, with Low Wages, Low Benefits, and High Household Debt to GDP of 200% per household...
Look at what the Rothschild's did to United Kingdom:
http://www.usdebtclock.org/world-debt-clock.html
UK External Debt to GDP is = 462%
Ireland External Debt to GDP is = 1061%
Greece, France, Portugal & Spain all look better than the United Kingdom who have Enjoyed the Rothschild's indomitable "Banking Expertise" for over 200 Years.
We should say rather the Rothschild's Interminable "Banking Expertise".
IN 1980 the USA was looking Sweet, till Ronald Reagan got into Office:
Debt to GDP = 35% in 1980
Debt to GDP = 100% Today
http://www.usdebtclock.org/1980.html
Wages & Compensation = Decrease
Household & Private Debt = Exponential Increase
Federal Debt & Budget = Exponential Increase
Corporate Taxes & Tax Base = decreasing
TBTF Bailouts, Bail-Ins, & QE = Exponential Increase
Sale of US Assets & Property to Foreigners = Exponential Increase.
Household Debt to GDP for United Kingdom©
2011:Q4: 204.34306 Ratio HDTGPDGBQ163N, Updated: 2013-10-01
http://research.stlouisfed.org/fred2/series/HDTGPDGBQ163N
---
How can UK & Ireland afford to hold US Treasuries while paying Interest on National Debt?
How can the Vatican or Israel for that matter hold huge Financial Assets while holding poor people in misery, despair, and agony...?
WTF isn't government supposed to think, help, and conserve money for future projects... versus use public funds for war & empire & inside deals with other nations while suppressing & blackmailing other nations.
And if you are looking at China & Japan LT Treasury holdings... I guess we know why the US is keeping Trade Free.
A Deal looks like it was made. Buy US LT Treasuries in exchange for "Free Trade".
"How can UK & Ireland afford to hold US Treasuries while paying Interest on National Debt?
How can the Vatican or Israel for that matter hold huge Financial Assets while holding poor people in misery, despair, and agony...?
WTF isn't government supposed to think, help, and conserve money for future projects... versus use public funds for war & empire & inside deals with other nations while suppressing & blackmailing other nations."
Govenments are privatizing their populations via bond issuance. The IMF is just an informal off-shored entity performing the same conversion.
EEEEEEEBOOOOOOOLAH!A McMolotov TM
When the black swan is sighted Dimon will race to embrace it an engage in carnal relations with it probably sacrafice a "virgin" or two.
This is so sick. If this is just 30% honest reporting, the IMF, BIS, FED have GOT TO GO! And, find out who, how, what, when, where (WE KNOW THE WHY ) EBOLA is being deployed.
Despite all our rage we are still just rats in a cage...
smashing pumpkins///
They have to exploit EVERYTHING.
Hooray!!!
WRONG. They have accomplished world dominion and we let them.
I don't know why I even bother being angry?
Because once you've moved past anger, you've transitioned into acceptance. After that you might as well swallow the blue pill.
Cynicism works well without the burning anger and resentment issues so oft employed as foils to confuse and distract.
Cynical sarcasm.
You are one of my favorite writers around these hills Doc. Well said.
Thank you for the kind (and humbling) compliment. I learned a lot from those who came before me. It's too bad so many great commentators left.
You don't move past anger, you do something with it. You give it to God or you give it to the deserved. But if you don't give it, you turn on yourself.
There is a difference between just being angry and understanding the situation and hating what they are doing.
Look,this stuff is not secured collateral anymore than the MBS shit was fungible.Was it only a few weeks ago that
Portugese were bailing out Espirito Santo holding companies because of an unpaid (defaulted) loan to Angola?
All the rosy estimates about Africa do not take into account a) Swiss accounts (corruption) and b)Defense
expenditures.
Maybe they are just printing to save the world and they really don't expect it to get paid back.
Right? Right?
Maybe they're printing just to keep us from thinking about the meteor they haven't told us about yet. And they'll catch it first.
Oh yeah.
If we print enough, maybe we can make it all into a giant ball and fire it at the meteor.
Maybe a re read of Heart of Darkness is in order---
Without an army to enforce their claims, the subject countries could tell them to FO and reclaim their assets. So the obvious thing to attempt would be to deprive the cartel of access to a willing army.
What a scam.
Now I understand all the relentless media hype - we need "global intervention" to solve this "ebola crisis". And to create a few trillion more in interest income for the globalists.
All these lovely resources but all these darn africans in the way...Anyone got a spare vial of ebola?
Problem solved.
Fortunately the IMF are happy to come in and take ownership of their assets for them.
Liberia and close neighbors have no assets for the IMF, only liabilities. Maybe Nigeria has oil for the IMF if they got desperate.
They must have something, what about slavery?
So are we at 3K "official" deaths yet? To seal this deal, IMF better send some Kevin Henry's to ink it in a saloon in West Point. Drink up!
The 1% must be busy now making lots of plans how to spend their "IMF Bucks".
Luxury hospitals.
Super security.
Lots of brass and lead.
Special police.
Dacha compounds and perimeter land grabs.
Busy !
(dismal)
As the ebola epidemic gets closer to Kenya, Obama is asking Congress for $1 billion to fight Ebola. Can we just send Obama instead?
No, but he's sending many others. Time to go AWOL. I would.
Breaking news:
"Obama administration to assign 3,000 US military personnel to combat Ebola in West Africa - @AP"Where's your heart. These people have suffered enough already.
Ebola should do a nice number on the economy when it hits the US.
Get your natural rescources penny on a dollah. Ebola the gift brought to you by those doing God's work--Goldman Sachs and Loyd Blankfein..
Here come the loansharks. Net step, economic hit men. I hope Goldman doesn't miss this opportunity.
America is sending 3000 troops, to Africa, to help with the Ebola epidemic. Another 3000 ways to bring Ebola to America.
map maker never gone in africa, ever.
The WEST will stop at nothing to achieve their bloodthirsty desires
http://pneumatikeconomist.wordpress.com/2014/09/05/the-white-blood-bank/
i hope Africans can become wise and escape its fangs
http://pneumatikeconomist.wordpress.com/2014/08/19/the-33-billion-fruit-...
http://www.reuters.com/article/2014/09/16/us-health-ebola-obama-idUSKBN0...
http://www.reuters.com/article/2014/09/16/us-boeing-lockheed-martin-bezo...
Officials at Boeing and Lockheed declined comment. No comment was immediately available from Blue Origin or United Launch Alliance (ULA), the Boeing-Lockheed venture that uses Russian-built engines to power some of its rockets.
ULA had sent out a request for information asking the U.S. aerospace industry earlier this year for ideas on how to replace the Russian-built RD-180 that powers ULA's heavy-lift Atlas 5 rockets, which are used to launch many U.S. military and spy satellites.
I hope they are there to call in air strikes. ISIS is nothing compared to ebola.
COOL! Now we can call them the Ebola Monetary Fund.