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IMF Says It Will Continue Lending To Ukraine Even After A Default, And Why This Is Bad News For Greek Gold
With Tsipras' delegation in Brussels desperate to work out a last minute deal and preserve Greek pension cut "red lines", not to mention Greece in the Eurozone, it is the IMF which has become the biggest hurdle to getting a deal done because while even the European Commission is ready defer €400 million of cuts in small pensions if Greece reduced military spending by same amount, the IMF promptly scuttled this suggestion according to FAZ.
So as we enter Sunday and what may well be the last possibility to get deal done before the "accidental" Grexit scenario is put in play, we thought our Greek readers would be interested to learn that while Lagarde's "apolitical" IMF is digging in tooth and nail against giving Greece even the smallest amount of breathing room, the equivalent of half an our of a typical daily Fed POMO notional amount, yesterday the same Lagarde said that the IMF "could lend to Ukraine even if Ukraine determines it cannot service its debt."
This is the same Ukraine whose bonds last week tumbled by 9% after the country's American finance minister Natalie Jaresko said Ukraine will default on its debt unless creditors (among which both Russia and the US taxpayer via the IMF in addition to various hedge and mutual funds all used to getting a last minute bailout on their terrible investments) acquiesce to their demands for more aid (i.e., more debt).
Lagarde's statement also indicates that the Hermes and tanning bad connoisseur does not know the difference between a loan and an equity investment, which is what "lending" to an insolvent Ukraine would be equivalent to.
But more to the point, the very reason why the IMF has kept such a hard line position with Greece is precisely because the IMF alleges that unless Greece takes steps to solvency, the DC-based IMF will no longer give the country funds sourced primarily courtesy of US taxpayers.
In other words, under pressure by someone (and ZH readers know who), what for the IMF is a deal killer in Greece, is not even a small stumbling block when it comes to Kiev.
From Deutsche Welle:
IMF chief Christine Lagarde has reassured Ukraine that funds can still be made available even if the country fails to repay its private creditors. She ruled out resorting to national reserves to avoid defaulting.
Christine Lagarde, head of the Washington-based crisis lender, which had launched a four-year loan program of $17.5 billion (15.6 billion euros) in March for Ukraine's government, said that the IMF was still encouraging a settlement in the debt talks, while highlighting that there were backup options in place.
"I believe that their program warrants the support of the international community, including the private sector, which is indispensable for the success of this program," Lagarde said. She stressed that the IMF did not have to cut off its funding of the Ukraine government if it stopped servicing its private debts.
"But in the event that a negotiated settlement with private creditors is not reached and the country determines that it cannot service its debt, the fund can lend to Ukraine consistent with its lending-into-arrears policy," Lagarde explained.
There actually is such a thing: as the following document reveals there is an "IMF Policy on Lending into Arrears to Private Creditors", one which a 2006 paper described as merely encouraging moral hazard. Although with the world so far past the point of terminal insolvency, with capital markets centrally-planned from Tokyo to Shanghai to Frankfurt to New York, regional or global moral hazard is the last concern on anyone's mind.
Also, sadly for Greece which barely has any private creditors left as all the debt has been funneled over to the public sector and the ECB, this loophole is impractical.
Actually, there is one loophole.
When talking about Ukraine, Lagarde ruled out recent speculations saying that Ukraine could use its central bank reserves to pay back creditors. The reserves of the National Bank of Ukraine "cannot be used for sovereign debt service without the government incurring new debt," which she said ran against the aims of the IMF bailout program for the troubled country.
Actually, the reason why the reserves of Ukraine, which already received $5 billion from the IMF loan in March with the proceeds long since sent offshore by criminal, US-muppet politicians, can not be used is simple: with foreign reserves barely there, Ukraine's true reserve, gold, was long ago confiscated and/or sold in the open market as we reported last November when Ukraine Admitted Its Gold Is Gone: "There Is Almost No Gold Left In The Central Bank Vault."
Greece however does.
Some 112.5 tons of gold to be precise, or a fraction more than the infamous Bank of International Settlements, which at today's price of gold is just over $4 billion, or enough to keep Greece solvent for a month or so.

It is also an amount which the BIS, or any other central bank would be delighted to take. Why just today the NY Fed learned it will have to part with another $1 billion in gold to satisfy a suddenly very concerned about its assets state of Texas.
So one wonders: will Greece use its last card, and agree to dump its gold using the proceeds to repay 1-2 months of arrears to the IMF or the ECB which will gladly print the money it needs to purchase all the gold Greece has to sell.
And if so, just how will the Greek population react it when it learns that it too was "Ukrained" and sold out by its corrupt western-puppet politicians to the highest central bank bidder, all of which can print fiat but none can print physical gold?
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hey, why not greece go this way too.
Greece need to stop paying debt
The reason why the IMF is so interested in Greece Military Spending at this point is that they are planning for Hot War. The Greek Government has been targeted for an overthrow.
Then they will seize the Gold after a cooperayive Government has been installed.
Tsiripas needs to stop dealing and declare a default now...to take down the entire Western Banking System and destroy the US Dollar hegemony. Of course the sooner this happens then the better it will be. The USA will have to opt for a Military response.
But that the IMF is interested in Greece's Military should telegraph that War is imminent.
Both Russia and China need to intercede rapidly.
This is a chess game and somehow I believe the Russians have more than one checkmate move planned out.
And BTW they are far more solvent than any western player and strong enough that you don’t really want to F with them.
That's precisely why the US is attacking them. US doesn't want well run, strong, low debt countries to be around when the US collapses into its own asshole. Something about trying to be the least dirty shirt.
I look forward to the inevitable day that the US bully gets its neck broken by picking fights with the wrong crowd. That day looks to be fast approaching.
The US will not get its neck broken. However, it will wage the nastiest war the planet has every seen. So nasty, it will have to take over the world lest its leaders be hunted down to the last man and America broken up and cast to the wind like the 12 tribes of Israel.
I think that Nazi Germany had the same neocon dream.
Where did it get them?
Oh. I know. They are now playing the role of a USA Policy Stooge.
And they..they hold a lot of the Greek Debt.
LMAO.
Most never learn while weaving deceitful webs and seeking total Global Domination.
Russia will loan them $8 Billion for $4Billion in Gold with Gold as the security. Greece is not in a card game with only the EU, Russia and China are in the game.
Yep, IMF Lizardface Orwell Lady is proclaiming...
Some Euroweenies are more equal than other Euroweenies.
I wonder if Christine LeGarde would lend me 20 bucks till payday with zero percent interest. Probably not. But she does look good for her age.
When was the last time you paid a visit to your optometrist?
“$8 Billion for $4Billion in Gold with Gold as the security”
Dear Fed,
Please ship all of our gold to Moscow immediately.
efcharistó.
-Greece
I would love to see that letter.
the show must go on!
The fed can't relinquish (gold to texas) something that it doesn't have, gold plated tungstun on the other hand, give um all you want. Strauss proved it and payed the price.
Hey Kings Whore, you know that Christine Lagarde is actually a guy, don't you? Google is your friend.
Sorry for the shameless Blog post, but I did promise people I would let them know when the day came...and I always keep my promises.
http://twoshortplanksunplugged.blogspot.com.au/2015/06/second-company-es...
“But she does look good for her age.”
Geez, I’m not sure if you need a shrink or an ophthalmologist.
When I look at her (?) I hear Ricardo Montalban hawking the "rich Corinthian leather" of a Chrysler Cordoba.
That car was a pig and one of the reasons I will forever curse Lee Iacocca.
But at least the seats had a smoother appearance than her epidermis.
Back to topic...
Nice CheesePope hit List.
Despite not being American , every time i look at Ms Lagarde i think of Thanksgiving Dinner, Gobble, Gobble.
Speaking of Turkey , despite their 5/6 faces ( which is maybe why ) they seem to hold the balance of power in this battle of East v West.
King-Makers as such, although the scum that is erDOGan sees himself as KING.
Janus comes to mind.
Both Fugly.
Where is the Greek gold held? If its in Greece, the Greeks have the upper hand. If not and it is held in England, France or NY, well then, they're screwed.
https://www.bullionstar.com/blogs/ronan-manly/spotlight-on-greeces-gold-...
“If not and it is held in England, France or NY, well then, they're screwed.”
The terminal portion of your post connotes the most likely probability. :- (
The Fed is going to redefine the meaning of “counter-party risk”
And another thing.. everybody wants to blame the politicians..
Well yeah, they are harlots of the first order.. but to the bankers.
First and foremost, hold the bankers to account when the SHTF.
As when a conjurer takes a lease
From Satan for a term of years,
The tenant's in a dismal case,
Whene'er the bloody bond appears.
A baited banker thus desponds,
From his own hand foresees his fall,
They have his soul, who have his bonds;
'Tis like the writing on the wall.[4]
http://www.readbookonline.net/readOnLine/38875/
Congress borrows from the bankers. Nobody held a gun to the borrowers head.
The United States is a registered Corporation. A cabal of inner-circle families control it; The Corporate State with a global span.
They are holding a board meeting right now at a hotel in Europe, where members of governments and members of the Corporations are gathered, full public shutdown, collectively making plans on how to coordinate the continued pilphering of the wealth of individuals and nations through debt obligations, created by governments on behalf of their citizens.
The structure of the Corporation is such that; The government representatives are there to pledge their co-operration in the theft and reiterate their promise to provide citizenry's compliance through application of their force, both legal and leathal.
The bankers are there to facillitate a conduit for currency and the distribution and growth of debt. They are the Corporation's accountants. They know every thing there is to know about you financially. They hold your assets and savings. They own and control you financially. They own you. Your social security number and birth certificate are the records of your bondage to the state. This corporation is the same one the world over.
Get it?
It's time to "KNOW THYSELF".
There are changes in the wind that will force us all to think about where we stand and what we are prepared to sacrifice, when it comes. You can smell it, Greece, Argentina, Ukraine, all affluent at one stage in their history, now debt slaves and ruled by tyrants or politicians. The middle classes of the world all being abandoned after trusting in their system, The State. The State Representatives of those countries are all behaving as described above. Tell me I'm wrong (with the exception of Greece, there's faint hope yet).
We are all going to have to rethink what our needs are in life and perhaps abandon the relentless and unnecessary consumption of the world's resources in pursuit . Hoping for profitable outcomes in debt based market societies is fraught with failure, 100% of the time.
My point was we are complicit enablers of their expanding control. We're not victims, we're volunteers. We sign our names into debt to live beyond our means. We vote and enable representatives to expand our sovereign debt. We do this willfully and the consequences will be just.
I upvoted you
Understand 'Counterparty Risk'.
It doesn't just apply to financial kabuki.
Enuf' Said?
Dup.
I rather think that numbers 1, 6 and 7 in the table above are in the wrong positions.
DavidC
"The US will not get its neck broken. However, it will wage the nastiest war the planet has every seen."
The USA will do nothing of the kind, due to the fact 1) it lacks the cojones. Russia and China ain't no Vietnam (er... what Vietnam looked like from abroad, back then, to unsuspecting yanks, i.e, a weak country) 2) you know why the dollar was unpegged from gold back in 73? Think "colossal costs of the Vietnam war", "need to print itself out of deep shit" and you'll get it. The nowadays debt-ridden, failing USA would wreck its economy to its very foundations if it thought of taking on such world powers as China or Russia.
So, ain't gonna happen any time in the foreseeable future.
TungstenBars has it right with "the US collapses into its own asshole", which he got my upvote for. Thank you for the laughing fit, TungstenBars.
Lea -> +1. For this one. Will expand that thought...for the unwashed. Including dates.
US is living on credit extended by China and Gulf Emerites and Korea, they will no longer extend credit if US goes to war with same. Like me asking my bank to lend me money so I can buy bullets to shoot them with. LOL.
1971 Nixon takes US off gold standard.
http://www.federalreservehistory.org/Events/DetailView/33
1973 Fort Knox gold moved to New York Assay office
http://2.bp.blogspot.com/-fCrwHVHV0fY/UW3k8FzQtbI/AAAAAAAAA8c/cq2paAJJCm...
1981 Reagan moves UST New York Gold balance to Switzerland.
http://www.knology.net/~bilrum/811215_FtKnoxGold_globe.jpg
http://chasvoice.blogspot.com/2013/04/fort-knox-was-looted-of-7000-tons-...
US has couple of barrels of gold coins in reserves. Est. 3 billion $.
To quote Bugs Bunny "that's all folks!"
At 10:00 P.M. Saturday night November 7, 1981, a secret meeting got under way at the New York Assay Office. Those present included: Donna Pope, Director of the Mint; Dr. Alan Goldman, Deputy Director of the Mint; James Edwards, Officer in Charge at the West Point Depository; New York Assay Office employees, and others. The entire group remained at the Assay Office overnight. Then at 5:00 A.M. the following Sunday morning, November 8, they departed. They were accompanying the first secret shipment of gold out of the New York Assay Office 'reportedly' bound for the West Point Depository. The shipment consisted of four (4) truckloads totaling 2.18-million
Thank you, ThirteenthFloor, for the details and links on the non-whereabouts of the US gold.
Of course, a non-accountable, ever-hungry Fed would have sold it as soon as it was not required to back up the dollar anymore. What else could we expect?
(Bunch of low-life crooks).
Manthong +1. Both Russia and China have this played out three-four moves ahead.
That list by World Gold Council is very out dated and wrong as well. The great gold robbery...
https://whitewraithe.wordpress.com/2014/06/15/the-great-fort-knox-gold-s...
PS. For example, that list shows gold in Libya and Ukraine which we all know is long gone.
I'm getting tired of that stupid list which is an insult to everybody's intelligence...
What world powers advise Greece is radically opposite than what they advise Ukraine, though both have the same bad debt problem! That too in the FT!
This world is going to explode soon ....as the control by a few hundred people at the top over 7 billion fellow humans (with no differentiaition over color, income, geography or asset levels etc) becomes blatantly obvious in order to take forward their agendas whether for subservience or for monetary control or hegemony or objecting to whatever their insane agenda may be!
In my view, Greece will continue until it cannot, simply because there is no clause in the EU treaties for an exit of anyone. The misfortune and the pressure will only apply to the citizens, not to the masters, on whom the impact will be the greatest.
My advice: Leave Eurozone and get out of the tentacles of the Eurozone monetary system or stay behind and pay the consequences. If there are less people living within the Eurozone, the lower will be the control of the Eurozone masters and hence quicker will be the resolutions to the Eurozone single monetary experiment. There will no peace until the politically motivated 'monetary unification' experiment is dissolved.
As the article suggests Ukraine is useful in its anti-Russian agenda while Greece serves no purpose hence the anti Greece sentiment in the MSM and the free advice by the FT to Greece to reduce pensions and not expect any debt reduction!
The headline says it all:
The dictatorship of finance capital: Greece and Ukraine
13 June 2015
https://www.wsws.org/en/articles/2015/06/13/pers-j13.html
This cannot be contained to the EU.
We had a 60% collapse in Oil Prices...in less than a year.
Just how levered is the Derivatives Market? How profound was the collapse in Oil Prices in creating systemic Fatal Fractures in the Global Derivatives Market?
There is nowhere to run.
Hell. That movie, Rollover, is becoming more prescient.
Thanks Saudi. Thank you for your Oil. Thank you for your greed.
(Oh. We are iust as damned guilty I guess. It has been a good run. We are a bunch of myopic idiots.)
Think about it. We are cooked. There is nowhere to run.
Nothing changed - since there is (that failed experiment experiment) human race.
A few (maybe 0.01%) determine the fate of 99.99% sheeple - which let it happen. Since stonage.
So they fuckers get what they deserve.
The earlier this useless short memoried crap is wiped of the map - the better for the planet.
There is absolutely no need to complain or point fingers anymore.
As both, the 0.01% as well as the 99.99% are 100% guilty.
End of debate.
You are absolutely right, fxpmtrader.
However, today there are 7.1 billion people who are 99.9% while 100 years ago, they were barely 1bn approx. The 0.01% has always remained consistent.
This is why there are so many problems globally. The job losses and bad debts have exacerbated this problem along with rising hunger, health issues and the thousands of laws.
This is why we see people snapping everywhere from US to ISIS to Middle East to Latam to Europe and taking law in their hands. Did you hear what happened in Dallas last night for over 6-7 hours?
Cops think they are God...billionaires think they are God....top bankers think they are God.....now the 99.9% also think that they are God and are taking away some lives and causing chaos before taking their own?
If a person has nothing to lose, he or she will do crazy things! Hope is simply not an option any more for the penniless, job less, hungry and the homeless who are growing in numbers at an abnormal speed!
Guess what the IMF proposes is to do austerity in Greece and other nations.....when they need a little bit of hand holding to come out of it. No wonder protests are rising at Davos...IMF...ECB meetings...and Bilderberg meetings.....G-20 summits...etc ...more than a decade ago!
Dubaibanker makes a good point about EU people leaving the eurozone. In fact, I see more Europeans buying in my area. Used to be mainly Chinese, and very wealthy Indians but now I'm seeing some wealthy Europeans.
Anyone notice China's gold not listed in the reserve chart. I really wish Greece would just tell everyone to Fuck off period that the fiat that was lent to them is just paper shit paper and to take there gold no way
You know they will sell out and the gold will be goneski.
Still, yes, it is time for Greece to stop paying.
Yeah, pretty much.
I mean "Greek gold"? Really? Maybe 3000 years ago.
I do like the whole "print up another 100 billion ECB!" thing though.
What's the interest rate on Greek debt again?
Greeks didn't give up anything, as it's been well hidden.
They have history on their side.
EU are chumps in the Book of Life.
Maybe they can make a deal for jelly donuts. Instead of printing money you can bake it.
The established systems are debt slavery, backed by wars based on deceits. The Ukraine already has their war based on deceit, while Greece is being set up to get theirs later.
SWEET!
Short, Concise...
A lot of information, clear and in a few words; brief but comprehensive.
Damn I knew you could do it!
SEVEN is Greek for SATAN
edit; Hahrumph
Can't Russia just buy Ukraine at this point?
Nato have about 20000 militants in Ukraine. You can't buy something until war is over.
That is true. I wonder why NATO is so involved in this? Ukraine doesn't really have oil or diamonds but they do have the hottest women on the planet. Hmmm...
You wonder why really? Ukraine is a great place to stage a pre-emptive war on Russia... The ``bonus`` was to kick Russia out of Crimea to make them weaker but now it's pretty much game over thanks to Putin's political savy... the neo-cons have lost the bonus round but they still are in possession of the main prize (for now).
http://thesaker.is/nikolai-starikov-why-putin-doesnt-recognize-dlpr-as-s...
be careful from starikov
What he says seems to make good sense.
Why careful?
I really don't think the fight is that deep. Putin is a billionaire....Oblama is not (yet). I tend to think this is all an exercise for sheep (you know, us). If they were really in a fight, we would have charred people standing in poses. We don't have that and we don't have a fight with Russia.
If your comment isn't snark or rhetorical here is my take
Clinton left in 2000 with a small surplus
Shrub came in cut taxes and put two wars on the credit card: $10 trillion debt
Peace Prize came in and expanded wars, socialized the Bankster debt. Total corrupt and inept governance has led the DC Visa bill to 18 tril with 18 months of more of the same.
Cankles will have at least 20 tril when she waddles into DC
-----
Russia's ViSA bill: 250 billion. If Lemonhead wanted he could pay that off out of petty cash.
So what the corrupt and gelded Obama is trying to do is force Russia into massive debt to either fight Ukraine or bail them out
Putin has said nyet. No invasion. No more free ride
Transnistria is meant to draw him in and bleed him white
"Ukraine" is a province of Russia, which Germany needs to return to Russia immediately, renouncing all claim to it forthwith and forever. Russia should not have to buy it back.
On the contrary, Germany owes Russia big. Same way they owe the Greeks, the Jews, and every other nation they've robbed and persecuted. Germany still owes 500 billion USD to Israel alone.
On that happy day Russian troops return to Berlin, Israel may finally have a realistic chance of seeing that money. Russia will need her help establishing a lasting order in the Middle East.
Gas yourself.
How much do you figure the Israelis owe the Palestinians? The Lebanese?
What about the tens of thousands of Roman and Greek denizens of Cyprus way back when?
What about America, for decades of parasitism, and for the USS Liberty, and 9/11?
Zionism can only destroy. Its erradication is the sine qua non for peace in the Levant.
- What Is Antisemitism? by Michael Neumann
"IMF Says It Will Continue Lending To Ukraine Even After A Default"
'Anti-Russia' must be maintained at all costs.
british empire did the exact same thing to germany pre WW1.........somethings never change
Well, Russia isn't Germany so that much changed.
Rhyme
Do you recall this headline from 2013 - Want to Cut Government Waste? Find the $8.5 Trillion the Pentagram Can't Account For.
If you subtract the $2.3 trillion that Rumpelstiltsfeldt confessed about being "lost" on the eve of 9/11 and compare the result with the number of USSA attempted coups during the same time period, it's around a trillion joobux per operation. Bumps on the road, like Syria and Ukraine, decrease their ROI which is a bad thing if you're a greedy psychopath poised for world domination. They're getting nervous, hence the breach of Minsk II. Keep your eyes on Transnistria...
IMF = US. So the American taxpayer will gladly support anothe endless world class shithole, out of sheer patriotism...
The Greek borrowing against the SDR chit game with the IMF was stupid.
Parting with any amount of it's precious gold resserves to pay the vig on fraudulent/odious debt is insane.
They had the political will to steal from Cyprus but not enough to save themselves apparently.
They call themselves Socialists but they can't even nationalize a gold mine?
Bwhahahahahahaha...
So, Hitlery was bribed with large amounts of money to create a war in the Ukraine (something that is illegal according the United States Constitution ... but not enforced by the "lack of" justice department). What is the likelihood that LaGarde was bribed as well by those who want the Ukraine coup to be successful and permanent?
This is after the bankers stole the Ukranian people's gold reserve.
Canada is the biggest joke on this planet.
Less gold then Nepal. Same amount as Bosnia
We have gold in the ground. If it stays there, it's harder for the international commies at the IMF to steal it
Check out SEA on the TSX.
why?
He wants you to buy his paper gold.
http://www.gurufocus.com/news/324491/an-investing-treasure-hunt-with-sea...
http://www.newswire.ca/en/story/1546841/drilling-begins-at-seabridge-gol...
According to this we have 430 million ounces in deep storage.
http://www.zerohedge.com/news/2012-11-29/visualizing-worlds-gold-mines-a...
And we have the energy resources to dig it up.
Supposing there are 430M oz.
Supposing we do have the energy.
We use up all the energy digging up all those ounces and then what? Let us deal with the bird in hand before we chase the two in the bush.
Then we get to go with the gods back to heaven because we were good slaves and dug up the gold for them.
That is why we're here, bred and born to dig.
I approve of this comment
All we have to do is hold on til 2900AD when Nibiru 's elliptical orbit brings them back to Earth
But will you have the water ??? AND digging up 13.5 k metric tons will take quite a while... ...while monetary disasters occur very fast. The exponential function is a bi#ch... My take, even if the deep storage gold is there, it won't be any remedy for what's coming down the pike in the intermediate future... Time will tell and I hope to live and see how this mess we're ALL in pans out. Good luck to all. x
As long as Harper is in control you are still the biggest joke on the planet.... except for Abbot in Australia.
If your soverign government is registered as a Corporation, it is a subsidiary of the IMF and the World bank, its resources security for debts agreed to on your behalf, therefore the property of The Corporate State. Safe? Think again.
Yeah, I know. Is there an echo in here?
http://www.zerohedge.com/news/2015-06-13/writings-wall-texas-pulls-1-billion-gold-ny-fed-makes-it-non-confiscatable?page=3
Sat, 06/13/2015 - 18:58 | 6194205 Kirk2NCC1701
"The Royal Canadian Mint gold vaults are EMPTY! Canada has NO phyzz!"
That's deliberate, according to my reliable sources in Canada. It's to prevent the Parasites and Usurpers from transferring (stealing) mined, processed and stored gold.
At least they aren't pretending to have 8000 tons...
More gold than China holds is in Ontario, Quebec and BC and held as reserves by the largest gold miners in the world who trade primarily in Toronto. Anytime Canada needs 1000 tons of gold they mine it. Ukraine and Greece, well, not so much.
The reason Canada has so much gold in the ground is because environmentalist and 1st Nation peoples won't let them dig it up. As well, leftest socialist minded people say (to mining companies) just because you discover it, pay for it, quantify it and mine it doesn't mean its yours and therefore a great disinsentive exist to production. Its called no profit.
No worries. They've got Parker Scnabel on it.
One of these days, that kid's going to do an IPO.
With the world's largest supplies of moose and maple syrup, Canada will be fine.
Alchemy at it's finest...
Says much that (supposedly) 'polls' reveal that Greek captives...er I mean citizens, support continuing to be raped by Brussels rather than go 'free' style.
YUCK!!
Sell ? Hell no. Buy!
Anyone left trying to argue that the IMF ain't the US elite's tool of world domination??
I don't think anyone is - or will be - asking the question (at least in public). But you have to believe no one in the US or at the IMF feels the least bit obligated to explain anything to anyone anyway.
It is good to be king.
Yeah right, China has only 1000 tons of gold. Sure....
Soon to be announced China has between 20,000 and 30,000 Tonnes of Gold. Buy Silver.
And France has more than Russia...... Ok,
Hell no Greece will come out with a gold backed crypto-currency known as the Greekcoin and issue arrest warrants for Blankfein and Dimon.
Ah, the words Greek and coin bring an old joke to mind: Three companions, a Jew, a Greek and an Irishman all died in a freak accident. Upon their arrival at the Pearly gates it was discovered by Saint Peter that their time for judgement hadn't arrived and they werent supposed to be there. Because of this they were allowed back to earth to continue there mortal lives, with the admonishment that they must give up there favorite sin or be immediatly whisked away for final judgement. Soon after returning to their mortal lives, the young Irishman bought a bottle of whiskey and took a long drink and poof he was gone. Very frightened at this, the Jew and the Greek forsook the bottle and walked quickly away from the area. The Jew soon espied a coin on the sidewalk and bent over to pick it up and poof the Greek disappeared.
Naturally. There's never a thin dime for debt relief for countries robbed of their birthright by rich thieves.
There's always plenty for wars to settle the banksters' scores against people who defy them.
Nobody in his right mind will lend his own money to any nation crazy enough to start a war with Russia while the outcome of that war is at all in doubt. If the Kiev junta lose access to western central bank-confetti, the only question is whether they'll be driven from Kiev by Russian tanks or the rabble that passes for "Ukraine's" own army. Either way, that would be the end of the Fourth Reich's plan to conquer Russia.
Well Lagarde, you POS. July 7,2015
Press Briefing on the U.S. Article IV Consultation
http://www.imf.org/external/mmedia/view.aspx?vid=4275676184001
http://www.imf.org/external/np/ms/2015/060415.htm
Rate hike in early 2016- IMF toolkit.
Greece, Ireland, Spain. Portugal to name a few, will be getting hard ball IMF game plans, while over in bankrupt non-EU Ukraine, the IMF will dole out billions even in the face of default to private creditors. The reason is plain, the IMF funds are what fights the war, plus secret US and Saudi cash. But really, without IMF cash, the war effort would collapse.
You wonder how Greeks feel reading this stuff? Free money for a defaulter, while no write downs, austerity and debt slavery for Greeks. Too crazy.
The USA and EU has bet all their chips on Ukraine. But they have bet on the biggrst fucking con artists in Europe. For 2 decades Ukraine blackmailed tens of billions from Russia, in return for stable relations, Russia was forced to give nearly free gas, plus billions in free money, plus low interest loans. Now that Ukraine has gone west, Russia is still paying for Ukraine through cheap gas deals.
Ukraine stopped buying Russian coal, and sighned a huge deal with South Africa, the ships arrived, unloaded high quality coal in thousands of tons, BUT, Kiev never payed. They kept taking delivery, but not paying. Till South Africa cut them off. This story escaped western media attention! But South Africa just got taken in by Ukraine, who are used to free Russian coal and gas. Kiev was actually shocked South Africa wanted payment. Russia never pressed for it. Other deals Kiev signed have collapsed due to non payment. Kiev never pays, Urkaine never pays, they just keep expecting handouts. Ukraine is corrupt, lazy, feckless and a gang of liars and crooks. The EU is learning, Kiev will steal everything they can get, and ask for more.
Like all bad gamblers, the USSA Neocons and NeoLiberals (same shit, different names), are doubling down on their losing bets. They are desperate to salvage a plan gone wrong; No Crimea, No Whitestream, No Sevastopol occupation by NATO forces, no Fracking in the Donbass, No New Kharzaria, No control over the Black Sea. All that is left is a devastated rump Ukraine, a black hole sucking endless amounts of money.
As for the Greeks, if they don't default now, they are truly the supreme chumps of the EU.
Excellent post Latina. Especially as regards Greece. If they don't default, then they are mad.
It's just money cycling isn't it? IMF "loans" ultimately come home again to buy armaments?
https://www.youtube.com/watch?v=ft62BNrmQC8
Same old business as always.
https://www.youtube.com/watch?v=FtoDnussUvE
"..with its lending-into-arrears"
The dog has not been fed in years. It's even worse than it appears. But- it's alright.
I agree. Everyone should just get on the bus.
LOL the IMF is like one of the most corrupt institutions on the planet, if not the most corrupt criminal enterprise known to man.
The fact that it is giving anyone money means that they have a hand in dirty deeds going on inside those countries they are involved with.
If they stop giving a country money, its pretty much a sign that the country in question is cleaning up its act/routing out corrupt politicians.
good overview of this situation
http://www.wsws.org/en/articles/2015/06/13/pers-j13.html
"IMF lending is barred for a member state in civil war or at war with another member state, or for military purposes, according to Article I of the Fund’s 1944-45 Articles of Agreement. This provides “confidence to members by making the general resources of the Fund temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of payments without resorting to measures destructive of national or international prosperity.”
- http://www.blacklistednews.com/IMF_breaks_its_own_rules_with_loan_to_war...
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“To learn who rules over you, simply find out who you are not allowed to criticize“ Voltaire Dear new-to-this blog friends,Why do I speak of “AngloZionists”? I got that question many times in the past, so I will make a separate post about it to (hopefully) explain this once and for all.1) Anglo: The USA in an Empire. With roughly 1000 overseas bases (depends on how you count)...
Death to the NeoCONs...i mean it
Greece has a leftist Russia friendly government - Ukraine has a fascist neocon government spitting at Russia at every opportunity.
Any wonder they are trying to strangle Greece und blowing billions in Ukraines ass?
It's so obvious and blatant - but really - who cares???
As as long as you have food on the table and games in TV and an iphone and something to fuck - and for ZHers your daily Tyler - what else do you really need?
Some things never ever change(d).
You obviously don't live in Greece,like i do, or else you'd know that Syriza is anything but Russia friendly.They voted in favour of more sanctions against Russia and they declare ,on a regular basis,that Greece belongs to the West.The only reason Greece is strangled ,is so that the people get into a state of panic where they'll more easily accept the new moratorium that's coming and harsher fiscal policies. Germany and the EU is attempting to make an example out of Greece, for the rest of Europe to see, and to be honest they're succeeding.
Yp,
Please give us a report from the ground. What is life in general like. How are things differant? What are folks doing to cope?
Thanks
They're investing in toilet paper,canned goods and the odd Merces-Benz for the weekends after default......................................
Well first af all i'm 100% Greek and not some illegal immigrant that was fast track named Greek. My parents,grand parents and so forth where indigenous and i've lived in Greece all my life.What people here fail to see is that a nation can survive fiscal and financial troubles but not mass immigration. It has come to a point that, while riding the bus, i don't hear people speak Greek anymore,it's terrible that with our borders wide open in a few years we, Greeks, will be a minority in our own country and it doesn't help that Syriza wants to not only give citizenship to every legal and illegal immigrant but name them "indigenous" Greeks as well.Currently in Greece there is a law binding distinction between being a citizen and being indigenous. Anyone can be a citizen but you need to have both parents being Greeks to be indigenous.Syriza is changing that law and now everyone can be indigenous as well. Now as far as finances and the economy go, the situation is pretty grim but not entirely hopeless because unemployed adult Greeks are being supported by their parents and family. Yes, in Greece if you're in trouble your parents support you financially regardless of age,so there is still some solidarity in society,but it's waning fast. Young Greeks are leaving the country and look for work abroad because thanks to many years of free public education, almost every Greek has a higher degree of somekind. So the population is educated and skilled but has been brainwashed to the point of apathy. They can and do accept even the most absurd laws and lies from the Goverment and it's driving me nuts.
It's the same garbage being pushed on all people from European descent - it's become obvious that the power elite have a hatred towards indigenous Europeans - that or they will do anything for profit.
Take South Africa, the systems of the country were built on European Civilization foundations, they colonized parts of it (to colonize means to turn a *wilderness into farmland*).
Some white people are being told to "go home" despite having been there for 400 years. Conversly no one can tell an immigrant into Greece or UK to go home even if they have beeen there only 6 months! When white South Africans with eduation and skills try to leave to go to Europe they are told they are not welcome. Meanwhilte the UK sends ships 1000s of miles to collect Africans out of the sea!
Here are 2 videos that outline the situation quite well.
White genocide (foreced multiki and immigration)
https://www.youtube.com/watch?v=uMfk5UeGw4E
Random killings of White South Africans (**Warning**, this video is the most **sickening** video I have ever seen. *You cannot unsee this video* You have been warned)
https://www.youtube.com/watch?v=06Twyq8s2po
Can you provide us with your thoughts on Golden Dawn?
Well where to begin with, in regards to Golden Dawn.First of all they are pro Euro and i criticise them for it ,because in my view you can never have any freedom if you need other peoples money to survive. In that regard i'm in favour of Sovereign money or the Drachma if you like. Secondly ,despite having some extreme views,they are prosecuted without hard evidence. In fact they are the only party that has been audited by the Greek IRS and been found to have no illegal income sources. Despite that they are led to court on accusations of being a Criminal Organization.It's crystal clear to any lawyer or judge that without profit there can be no organized crime. The way i see it Syriza will fail and Golden Dawn will gain in popularity even more, but by the time this happens,uncontrolled imigration and financial troubles will lead to the Dismemberment of Greece. You see ,unlike other countries, Greece is surrounded by enemies and everyone wants a piece of it. Turkey wants Half the Aegian sea,Cyprus and Thrace, Skopja or "Macedonia" as you call it wants the Greek Macedonia and Albania wants Epirus. If they get what they want there will be left only half of todays Greece. So yeah i'm pro Golden Dawn,but don't see how Greece will survive the coming Catastrophe.
Greece can never be free if it stays in the Euro. Greeks need to stop protesting in Parliament square - those puppets have no power to issue a currency they don't control. For far too long people have been like children viewing the government as some big daddy. The Greek government can't do shit to pay peoples expectations in Euros. If they want to protest they need to do so in Brussels and Frankfurt.
If the Greek government agrees to the next loan, they will just be borrowing even more simply to pay people for 3 more months. The only way to keep up the interest payments will be to sell of the whole of Greece, land, public utilities, hospitals (privazation), basically everything. Greece will then be foreign owned, since Greeks no longer control the currency, they will have no way of getting their country back - they will be disinherited of the land after 3000 years. This is what is at stake.
The other choice is to leave the Euro. This will mean mass poverty, loss of bank accounts, loss of pensions and people dying but the maintenance of Greek sovereignity. Normally what happens (like in Latin America) some politician will lie and say that somehow you can issue a currency you don't own, and that somehow this will work - people then believe the lies and sell out heir own country without really understanding how this happened.
Finally to hear from an actual Greek living through this tragedy
I never had one second of optimism Syriza would embrace Russia as an alternative
Tsipras and his lot will toe the Euro line on Russia.
Just like the false Hope of Obama: we aspire that an outsider will come in to wash the shit out of the Aegean stables like Heracles did
No outsider ever has a chance against the monolith
Sorry for the suffering of the common Greeks, but their gov't has chosen debt slavery as the cost to remain European
I have zero sympathy for Tsipras and his plight. Slavery is a choice
Next...
"They voted in favour of more sanctions against Russia and they declare ,on a regular basis,that Greece belongs to the West."
Why?
Exactly what has Russia done to Greece to cause the latter to feebly (laughably) wage economic war that hurts them more than their 'enemy'
Criticizing / chastising one country while dropping on there knees and swallow for nations asking them to do this for unjustified and unproven reasons isn't exactly a bell ringer example of a thinking independent People.
They're going to lend somebody more money, knowing fair well they can't repay the existing loan you created out of thin air.
This is either a case of Jews supporting Jews or must keep the Ponzi scheme going no matter what, which is it?
You realize the "Jews" in New York and Frankfurt still owe the real Jews whose blood they spilt during the war USD500 billion---roughly the value of the gold hoard of the US and Germany combined, and enough to pay off Israel's entire national debt and set her up with a good-sized sovereign wealth fund like Norway's.
Jews helping Jews? That I would welcome. Nazis helping Nazis not so much.
IMF = international slush fund to bailout the select few during a bank run. That's it. Nothing more.
Way more sophisticated than that. ("Segmentally, this plan seaminglessly connects." Rosa Koire. (20 min - worth a listen - Agenda 21)
https://www.youtube.com/watch?v=ACDTgCIjrdE
It would be funny if Texas broke the bank.
Anyone else look forward to the collapse of the fiat clusterfuck?
No matter how dire the consequences will be, a hard reset is long time overrdue and needed.
Actually, not really. Whatever form the Great Reset will take will be catastrophic even if nuclear war is somehow avoided.
If you're young, male, and can boast a first-rate physical condition and few moral scruples, you have a bright future ahead of you as one of the bandits or pirates who will feast on the carcass of civilization. It'll be a violent and short life, but at least you won't be bored or ever want for anything normal men happen to like---gold, beer and pussy.
Everyone else is fucked. Forget stocking ammo---anyone who's serious about taking your gold and your woman will always outgun you.
91. Canada 3 tons
I guess that's what honest reporting gets you.
It is still a push for war, don't let them fool you, the Chosonites feel that it is NOW or NEVER !
https://vimeo.com/allenhenderson/warorpeace
UP WITH DOPE , DOWN WITH HOPE!
We faced the giant Persian army-TWICE, and laughed in the face of death! You think a Zionist sponsored little default is going to phase us? HA! You people have been drinking too much ouzo not us.................
PUBLIC JUSTICE for people like IMF, FED, ECB, etc
There is something completely wrong in this century. And the people sleep on... Dont want to know, dont want to be bothered.
Lets just agree that humanity lost any right to survive evolution.
Walking zombies, we are /s
Rumor has it that Legarde actually does like it Greek style. ;)
What's good for greece should be good for the ukrainer.
3 reasons why I am happy this happened
1. West vs East divide : leather face would rather give a blank check to corrupt oligarchs, who have already stolen funds from past tranches. against Greece, one of its own members. Should infuriate wobbly members like Spain or Portugal. Plus they break their rules precludimg loans to nations at war
2. Europe bankrolling Nazis looks corrupt to the rest of the World. Is essentially funding a proxy war against Russia. More incentive for Putn to realize "his Western partners" will never relent
3. Greece should take this hypcorisy all th way out of the the Troika to AIIB and join BRICS
NATO > ECB.
They got real weapons and the ECB don't.
Same as it ever was when shit gets real. You find out who the real boss and priorities are. All institutional issued money is ultimately backed by lead and brass. There is no full faith in credit without the threat and occasional use of force. No banks, IMF, FED, ECB, etc. can back up their money without sovereign military's or organizations of groups of sovereign military's.
Full faith and intimidation go together like peanut butter and chocolate. Set, subset. If push came to shove would you be afraid of some banker in a three piece suit tell you to take their money or else (verbal intimidation) or someone with a gun pointing it in your face telling you to do the same (physical intimidation)?
So who am I supposed to be rooting for, Pootin, Chairman Wong. I don't think so. Leadership worldwide is fucked no matter where you look. It's a three dimensional chess game and no one knows how to play. Don't kid yourself, no one is going to save your ass but you and then only if you are lucky.
Thumbs down for you being a retard
Sorry, what does it mean: "Hermes and tanning bad connoisseur"?
Lagarde is a rich Frenchwoman (who.likes Hermes bags). She also likes sunbathing too much, which has ruined her skin and made her look much older than she is.
Hope that helps.
I had no idea she was a woman
lol
O.T. Five articles on MarketWatch front page this morning advocating the purchase of silver and gold
http://www.marketwatch.com/
Greece needs to pull itself up .... by it's own sandal straps .... embracing Capitalism .... would be a good start !
I'd take those sandal straps and tighten them around your neck you tosser. Which country does a punk like you consider practices capitalism?
True capitalism is dead and has been for a long time.
Welcome to the neocon world where those at the top feed off the socialist model.
Choice? You want capitalism shut down the total neocon world, where everybody fights everybody else and last man standing can practice capitalism once more not having to feed the socialist model trhe neocons feed off.
Now, that the Muslims have oil .... they need to pay reparations .... for 1400 years of savagery .... and displacement .... of Christians, Jews, Hindus and others .... there were only 5 crusades .... there were over 230 Muslim invasions .... return Turkey to the Orthodox Christians .... Istanbul was their "Rome" .... their "Mecca" .... all other war reparations are a joke .... the biggest debt is owed by Muslims !
Most of that oil is under the surface of Greater Israel in any case. Give the Jews back their oil and flush the Arabs down the toilet of history.
The Arabs are everything the Jews are said to be by anti-Semites and worse. No wonder our masters get on so well with them.
Can anyone who understands Greece by having lived and worked there give the ZH community an update on the status of Golden Dawn?
I understand that this is controversial, but I am curious what is going on with them in light of recent developments.
Not one nation in the world is solvent except maybe for Iceland.
All nations now, lets see everybody pay down all their debt so nowhere in the world is there any debt on 1 day.
You can't!
So when you see the likes of the IMF demanding Greece be solvent not a chance then Ukraine is allowed to get off without paying down all its debt for one day you realise how corrupt the system is and that the IMF are the tyrants on a global level.
The sooner the world gets rid of the IMF the better and Greece needs to side with the East not the West and see how the western banking system holds up. If Greece leaves chances are either Spain or Portugal will fill the position Greece currently holds propping up the fraudulent EU (having never signed off a set of financial books ever!).
Not sure Iceland is solvent, Greenland maybe. Iceland still had to bring in the IMF
Wonder how the chart would look if we had a real number on US Gold?