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Guest Post: Christine Lagarde’s IMF Action Plan: Reassure The Idiots
Submitted by Brandon Smith from Alt Market
Guest Post: Christine Lagarde’s IMF Action Plan: Reassure The Idiots
This past week, in a rather surprising attempt at public relations, new IMF head Christine Lagarde released an essay on the worldwide economic meltdown entitled “Global Action For A Global Recovery”:
http://blogs.reuters.com/great-debate/2011/09/26/global-action-for-global-recovery/
The gesture appears similar in nature to the Federal Reserve and Ben Bernanke’s sudden efforts to assuage negative public sentiment towards central banks using highly publicized media events designed to add a “human identity and touch” to the normally faceless and soulless global banking cartel. Giving Nosferatu a sentimental makeover while the country struggles entrapped by his icy bear-hug of death is no easy task; it takes finesse. Something which neither Ben Bernanke nor Christine Lagarde seems to have.
For those who theorized that Largarde’s ascension to IMF mascot was due to a nefarious plot meant to supplant former head Strauss-Kahn because of his overt pursuit of the destruction of the U.S. dollar, I would like to point out that though we have not heard much from Lagarde so far, what we have heard has been almost directly in line with the policies of Kahn, and the end of the dollar’s world reserve status is still very much on the menu for the IMF. All in all, it is highly probable that Kahn is just another perverted sadist (like most of the banking elite), and that the IMF had to move fast to nominate a woman to replace him before the words “banker” and “rapist” became interchangeable (as if they weren’t already). The overhaul was purely cosmetic. The threat that the IMF presents to our national sovereignty and financial future continues. Thus, a fresh propaganda campaign is clearly in order…
We are going to hear several carefully fashioned talking points concerning the economic collapse over the course of the final quarter of 2011, especially in light of the dismal end of the stimulus driven bull market that sustained public optimism since the derivatives implosion in 2008. Let’s not forget, three years ago mainstream economists and the Obama administration were calling for a near full recovery by 2011. Obviously this never materialized, and so, the game has to shift to a new dynamic to keep us all guessing. The deflationary boogieman will be resurrected to frighten taxpayers into taking on even more debt in order to feed the fiat machine, but this is going to meet extraordinary resistance. If you think the protests on Wall Street today are gaining momentum, just wait until Helicopter Ben announces QE3! The next logical step in the progression of banker planning is the call for “Globally Coordinated Action”; global initiatives tying numerous countries together in a unified effort to whitewash the crisis and solidify their real purpose of economic centralization.
National programs to throw fiat at debt have failed to do anything but create increasingly volatile inflation in prices. Consumer costs continue to climb in countries like the U.S., China, and the UK, despite deflationary symptoms in equity markets, which should supposedly counteract the poison of the printing presses according to Keynesians. If sovereign efforts to counter deflation using currency devaluation and propagation have failed at a fundamental level, then it hardly serves logic to suggest an international and simultaneous move to inflate and devalue would be much different. However, this is exactly what we will be offered in the coming months as a solution to escalating disaster.
Lagarde’s open call for global action has numerous underlying meanings as well as consequences, and her “plan” to confront what she refers to as a “dangerous new phase” in the economy is absurdly vague (or deliberately vague), but there is indeed a focused message behind all the smoke and mirrors. Let’s take a look at some of her double sided statements now…
“One of the main problems today is too much debt in the global financial system – among sovereigns, banks, and households, especially among the advanced economies. This is denting confidence and holding back spending, investment, and job creation. These countries face a weak and bumpy recovery, with unacceptably high unemployment. The eurozone debt crisis has worsened, and financial strains are rising. Political indecision in some quarters is making matters worse...”
Here, Lagarde presses the debt issue as if it is actually solvable within the confines of a government or central banking framework. It is not. In fact, even if all nations come together in peace, brotherhood, and creepy universal harmony, there is STILL nothing they can accomplish in practical terms that would block the trainwreck already in motion. Their one and only tool for economic intervention is the application of fiat. That-is-it. And, as we are seeing today, the bliss of fiat stimulus eventually fades. The only tried and true formula for surviving a deflationary storm is time, plus free markets, plus production, plus concrete savings. The IMF and its policies are in opposition to all of these elements.
In these circumstances, we need collective action for global recovery along four main policy lines: repair, reform, rebalancing, and rebuilding.
And there it is; “collective action”. You see folks, it wasn’t the IMF and their central banking cohorts around the world that fed the creation of the derivatives bubble and massive debt to GDP ratios using artificially low interest rates and highly questionable fractional reserve banking practices; it was our “addiction to sovereignty”. If only we could simply submit to the undercurrents of the collectivist stupor and start thinking of the “greater good”, the economy would be in grand form and we could all live on floating cities in the sky powered by magical fairydust dragons. Selfish individualists with their “personal liberties” and demands for self determination are the real cause of our global financial grief. Time to meld with the hive mind and be happy!
“First, repair. Before doing anything else, we must relieve some of the balance-sheet pressures – on sovereigns, households, and banks – that risk smothering the recovery. Advanced countries need credible medium-term plans to stabilize and reduce public debt…”
“There is a solution. Credible measures that deliver and anchor savings in the medium term will help create space to accommodate growth today – by allowing a slower pace of consolidation…”
If this sounds like a bunch of financial babble-talk, that’s because it is. Lagarde at no point offers any specific examples of what these “credible measures” are. She only goes on to say they will be “different for each country”. Ok. So then my question to you, Christine, would be this: How can you possibly implement a “collective” program of action to solve the debt crises of multiple countries when each nation’s necessary measures are different? Would you not just end up stepping on your own feet with solutions that are too broad?
Also, how can central banks or governments possibly “anchor savings”, even in the medium term, in the face of so much debt? Stimulus definitely isn’t the answer, as we have seen over the past few years, so what else is there?
“With respect to the United States, I welcome President Barack Obama’s recent proposals to address growth and employment; actions like more aggressive principal-reduction programs or helping homeowners to take advantage of low-interest rates would also help. And, in Europe, the sovereigns must address firmly their financing problems through credible fiscal consolidation. In addition, to support growth, banks must have sufficient capital buffers…”
Been there. Tried that. Next…
“And, in Europe, the sovereigns must address firmly their financing problems through credible fiscal consolidation. In addition, to support growth, banks must have sufficient capital buffers…”
Loosely translated: Lets feed banks even MORE fiat at the expense of taxpayers.
“The second issue is reform, with the financial sector a high priority. On the positive side, we have broad agreement on higher-quality capital and liquidity standards with appropriate phase-in arrangements. But substantial gaps remain and must be addressed through international cooperation in order to avoid regulatory arbitrage…”
Really? What standards would those be? Because all I’ve seen so far is the same corrupt shell game banks were playing back in 2008. Robo-mortgages, toxic assets rated AAA, insider trading, blatant manipulation of securities, and the deliberate misreporting of assets and liabilities, all still in existence. You see, the problem was never the need for global reform. The problem has always been the need for governments and agencies like the SEC to actually do their jobs and enforce the many regulations already in existence. When Lagarde talks about “reform”, what she is really calling for is even greater centralized control of finance along with vast new universal regulations to the point of economic totalitarianism.
“The third target of collective action, rebalancing, has two meanings. First, it means shifting demand back to the private sector when it is strong enough to carry the load. That hasn’t happened yet…”
Do you ever wonder if elitists use deliberately cryptic language and inconclusive statements in order to sound more intelligent than they really are? Well I’m here to tell you, yes, yes they do…
What kind of “demand” is Lagarde referring to? That’s hard to say. Demand for materials? Demand for credit? Demand for labor? Demand for finished goods? Government isn’t carrying the load in any of these areas, and neither is the private sector, so, where is the rebalancing supposed to come in? What load? Where the hell am I and who are you people?!
“Rebalancing also involves a global demand switch from external-deficit countries to those running large current-account surpluses. With lower spending and higher savings in the advanced economies, key emerging markets must take up the slack and start providing the demand needed to power the global recovery. But this rebalancing, too, has not happened sufficiently, and if the advanced economies succumb to recession, nobody will escape…”
Loosely Translated: BRIC nations should start buying more stuff, but not just any stuff; western stuff. The problem, at least in the case of the U.S., is that we barely manufacture stuff anymore, definitely not anywhere near the levels required to sustain an export (stuff) based economy. On top of this, we have no “savings” to speak of, and I’m not sure where Lagarde stumbled over that idea. With no savings, and no stuff, the U.S. is not only already in a recession, but a depression, and eventually a hyperinflationary collapse. It’ll take a lot more than demand from China or Brazil to pull us out of this hole.
The rebalancing that Lagarde muses about is simply impossible in the short term, and impractical in the medium term. Where are most American owned factories? On foreign soil. It took decades to dismantle American industry, and it will take decades to rebuild it. So, where are developing nations going to buy all that extra stuff if the West isn’t producing anything? They’ll buy it from each other, of course! China has already strengthened economic bonds with numerous developing countries that manufacture their own goods and has even stopped using the dollar in trade with Russia, so why bother with the U.S. at all? Of course, Lagarde is already well aware of this, which is why one of her first pursuits as head of the IMF was to recommend China and other BRIC’s be considered for inclusion in the organization’s new world reserve currency; the SDR.
“The fourth policy imperative is rebuilding. Many countries, including those with low income levels, need to rebuild their economic defenses – for example, by strengthening their budget positions – to protect themselves against future storms…”
By golly that’s genius! Stop spending beyond your means and you too can avoid unsavory bouts of fiscal Armageddon. I can see why the IMF’s views on economic restructuring are taken so seriously in the mainstream. I mean, this is cutting edge financial analysis, people!
“In these circumstances, the International Monetary Fund – with its 187 member countries – is uniquely positioned to foster collective action. Our policy advice can help shine a light on the pressing issues of the day – growth, core vulnerabilities, and interconnectedness. Our lending can provide breathing space for countries in difficulty. And, looking beyond the crisis horizon, the IMF can also help construct a safer and more stable international financial system.
This is no time for half-measures or muddling through. If we seize the moment, we can navigate our way out of this crisis and restore strong, sustainable, and balanced global growth. But we need to act quickly – and together.”
As inspiring as that closing note was, I can’t help but question the motives of Lagarde and the IMF, rather than be reassured. They do have a long and well documented history as global loan sharks; parasites that slither in to snap up the debt positions of faltering nations then slowly bleed them dry until they and their natural resources become wholly owned subsidiaries of Diablo Inc. The assumption of some Americans is that while that may be true in the case of downtrodden African nations or war torn Central American cultures, it would never happen to us. If you hold that view, then you aren’t very bright, but let’s set this fact aside for a moment. Instead, ask yourself, why should we even take the chance? Why invite a known ghoul into your living room on the gamble that he’s eaten enough of your neighbors to satisfy his hunger?
The message of Lagarde’s letter to we serfs is clear, and is repeated over and over again in subtle language; if sovereign nations do not conform to IMF oversight, there will be catastrophe. If we do not relinquish full control of our economies over to a collectivist dynamic, we as a people will be held responsible for any damage eventually done to any portion of the greater system. Lagardes solution to the chaos ahead? Even more centralization of power. The very con we have been warning about since the disintegration began.
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Fuck IMF
"If we seize the moment"
now where have I heard that before?
Speech-writers have been replaced by hot-air post-modernistic nonsense generators.
"Giving Nosferatu a sentimental makeover while the country struggles entrapped by his icy bear-hug of death is no easy task"
Yeah it's like putting lipstick on Nosferatu. Wait a tick ... he's already wearing lipstick. Uh oh, that's not lipstick.
Totally agree. Bob Chapman has been saying precisely this for some time now too. He only publishes weekly, but it's a pretty good read.
http://www.theinternationalforecaster.com
“banker” and “rapist” are not interchangeable.
“banker” and “ass rapist”, now that's interchangeable.
This from Rickards in MAY of 2010 !
Same old crap from the government banksters and Wall Street, only a year and a half later.
In other words.. No mattter how many trillions, quadrillions or quintillions they conjure up, there will always be sextillions, septillions or octillions of synthetics to bet on defaults and must be covered by the serfs to in order to avoid the demise of civilization.
They will do anything to keep the con going ad infinitium.
http://www.youtube.com/watch?v=dxR8NXTds9U
Anybody got a picture of Christine Lagarde eating a hot dog?
Betchu she was hot some time ago....
What is it with these Bankers - They all It appears Use that Sign with the middle finger on the side of their Face.
Barnanke's was a classic -Up Ours
re: "If we seize the moment"
now where have I heard that before?
no, i think you are confusing that with: "if we seize their wallets..."
like my momma used to say...
"No matter how much frosting you put on a pile of shit, when yur done it still don't make it a chocolate cake."
Now, Let Us Pray For America.....
More Alcohol. (If a little is good, a lot is better, and a Whole Lot is Better YET!!)
Dumber Television. (Of course Everything You See is All True...that's why it's on TeeVee!!!)
Bigger All-You-Can-Eat Buffets. (Can I carry THREE plates with two hands?)
Deeper, Softer, Recliner Couches and Better Remote Controls. (I may NEVER have to get up!)
But Above All, Let Us Pray For More
FAITH AND CONFIDENCE IN THE SYSTEM.
Let the Congregation say "Amen."
"Don't shoot Mongo. It just pisses him off."
say..............................
who took the imf lady's picture down and replaced it with this longshoreman?
I heard you dig longshoreman when ever Olive Oyl runs off again.. is that true ?
yes, with the biggest $($* ever. avoid debt, there is always fraud in the mix.
http://expose2.wordpress.com
The IMF was set up so economic crisis would never escalate into international wars. We can argue about IMF policies, but the need is there--especially under current global financial distress.
Already, we are witnessing a crisis of capitalism. Not only American capitalism. But European capitalism.
Capitalism is a highly adaptive, schizophrenic economic system. The class struggles between labor & capital in the early 20th century was mollified by the organization of labor into a political unit, which propelled rights (health & safety laws), and concessions (minimum wage & 40 hr work week) from the capital class. And the middle class ballooned in large parts to the dialectic between labor & capital (American innovation, and ingenuity). Capital also re-organized to form the infinite want apparatus--PR industry, hollywood, celebrity culture, main stream media, so there would always be an illusory material need for its products & services from lthe labor class; progress without self sufficiency. The capitalists values would be diffused to become the wish-fulfillment of labor.
The middle class acted as a buffer between socialist reforms and capital accumulation. However the middle class was predicated on rising wages so it could consume at the same rate as the nation's production. But since the 1970s household income has been stagnant. So the middle class had to borrow to maintain purchasing power. And they borrowed for 30 years.
In America debt was accumulated by households to maintain purchasing power. Europe also has had stagnant wages, but more social programs to ameliorate the political gains of capital, thus debt was transferred to the public treasuries.
Now that the debt bubble has popped, and the middle class has been eroded, the background struggle between between labor & capital is thrusted towards the foreground.
As world government attentions are preoccupied with debt we are ignoring a looming crisis: global warming, and climate change, which may ultimately be more devastating
The IMF was set up so economic crisis would never escalate into international wars. We can argue about IMF policies, but the need is there--especially under current global financial distress.
get a fucking clue dormroom. the imf exists for the purposes of manipulating and surpressing weaker/vulnerable countries in order to bleed them dry. period. learn a little about the history of the imf, its relations with large western nations, and its effects on latin countries.
He's right the IMF makes sure an economic crisis will only escalate into a civil war in small developing countries. The IMF is neocolonialism and nothing more.
Confessions of an Economic Hit Man: http://www.youtube.com/watch?v=yTbdnNgqfs8
Do you think the status quo until recently in the Western World (G7/20) could have been accomplished without being predicated on just such predation?
Capitalism is not the problem. This is a crisis of fascism, or crony capitalism. Also, Capitalism is not schizophrenic. Perhaps you meant to say capitalism is anarchic... I would agree. A state of individual actors participating in a collective for their own self-interests is self-correcting. Your comment implies that coordinated central control is a solution... always a house of cards and pretext for tyranny. Your "need" for the IMF is rooted in a compromise of individual liberty based on an illusion of safety and security that it cannot provide. By the time your koolaid hangover is wearing off, you'll be wondering how to remove the chains fastened by your hands. Wake up, brother... do a little reading outside the Marxist classroom. Why don't you start with Road to Serfdom.
I would argue that Captalism is the offspring of liberty. When capitalism is adulterated by political ambition you have corruption. Government is there to regulate, set the speed limit, provide for the common good, make and enforce laws, coin money. Mixing up a free market enterprise with political corruption is NOT a failure of capitalism. It is a failure of government. JMHO
Argh. First word is italicized, so cannot give you a green. So, here: +1
Accurate.
Capitalism failed the same reason as Communism.
Greedy leaders abused their power and theory didn't turn out well in practice despite good intentions.
we are past road to serfdom.....we are already serfs.
Start reading Grapes of Wrath.
"Capitalism failed the same reason as Communism."
No
Democracy is failing for the same reason as Socialism.
Namely...Sloth.
The difference is Socialism is an attempt to universalize it, where as Democracy relies on vigilance against it.
IMHO
Her picture alone says a thousand words...two of them being "Got Phyzz"?
"Psychopathic, soul-sucking parasitic skank" would be five others.
You might want to add, Focused, and Lethal. Women are particularly good at fucking over (stupid) men, time and time again.
Every man I meet wants to protect me. I can't figure out what from.
Mae West
In sales we learn to look at body language and touching the nose means :lying:
Think Pinocchio. Think Banker. Think"distortions of the truth".
Legarde is in it deep, up to her nose!
While the bitch is yadda-yadda talking, just some more silver bullions arrived here.
MOVE ALONG!
Who is trying to help society more, her or you with your silver?
Society is helped by people who prepare, take care of themselves, and plan ahead. That said, the plan to "have more silver" is more do-able than some pie in the sky open ended plan to "save the world".
He is helping himself first, so he can then have something over to help his family and neighbors (assuming he wants to, and that they even want help).
She is helping to perpetuate the status quo.
Frankly, I wish she'd stop 'helping'.
Screw the IMF . Time to end the IMF and the FEDS. They have raped the World enough.
Don't forget the Paris Club.
Jail-time solves all problems.
Lock up around 5000 bankers to kick things off. Minimum 10 year sentences for fraud and white-collar financial crime.
That'll get their attention.
you don't get the message, the 'real time' is dictated by them and they've ended your independence.
We should consider that Lagarde was more pragmatic until she was called before her masters. I am proud that Mark Carney did not bend so easily. Thanks Mark, Canada loves you for your courage
kabuki.
bukakki?
..who do you think has been selling the CAD?
Dont Panic!
Did you notice there's a "financial" Dilbert, today? http://www.dilbert.com/strips/comic/2011-10-01/
Maybe the IMF-Bitch should read that.
How appropriate that the MBA is drawn in the form of a penis.
The IMF is an artificial construct by bankers. Since the IMF has no authority to tax it has no way to raise funds except through soverigns and central banks giving it fiat and in some instances, gold.
The IMF would disappear as suddenly as it appeared if soverigns and central banks stopped supporting it.
I vote to stop supporting the IMF before it begins printing up SDRs (strategic drawing rights) on a grand scale.
Otherwise, the IMF will become the depository for the worlds overvalued debt instruments...Or, a super bad bank where the chosen ones can send their toxic debt and it can be hidden indefinitely...and, eventually the banksters will use SDRs as claims on real wealth of soverign nations and their citizens productivity. Of course, the IMF will attempt to remake themselves into a 'super soverign' and become a taxing authority over all soverigns.
If we allow this bs to continue we will be one step closer to a one world financial union and from there a one world government.
SDR = just another god damned piece of paper.
yeah, why does this person have so much power to play with our money?
Taxes are soooo 20th century (and labour-intensive to collect ... just ask the Greeks). Printing is the 21st century path to prosperity!
"Taxes are soooo 20th century" ... Run this thought by the IRS.
"Printing is the 21st century path to prosperity!" ... Only the US and N Korean can print dollars... and the N Korean dollars are superior to those 'made in USA'...
Criminy, I hope you haven't fallen for that bullshit propaganda that N. Korea is producing those counterfeit supernotes. That country can't even generate the electricity to illuminate a 100W lightbulb, let alone print anything.
Supernotes are produced by the UST and funneled through the mossad/CIA to fund things that can't be funded through the normal corrupt channels and for bribing politicians.
Here's a thought to pass through the IRS: Fuk U Parasite Scum
Get with the times.. start thinking like a new age 22nd Century Pogressive or a 4th Millenium Intellectual.
As I posted in another thread..
This is so simple to fix it’s almost silly.
As the Greeks are now considering a "Century Bond" to push the debt into the 22nd century, all the ECB needs is a humungous “Millenium Bond” that matures sometime in 3012.
That should assure adequate funding for at least the next week or two.
http://www.reuters.com/article/2011/09/30/greece-century-bonds-idUSL3E7KU0E920110930
blah blah
We have to choose between cultural posttextual theory and capitalist neotextual theory. Thus, the premise of the constructivist paradigm of narrative suggests that reality is created by communication.
thats easy for you to say.
The very positing of a constituative, binary split between subculturalist theory and the Constructivist's narrative paradigm is a subtle, a priori acceptance of narrative's essentializing logic. Better is to recognize the open, Event structure of the questioning itself such that this kind of epistemological closure is kept in abeyance.
Indeed.
Also bear in mind in this context that if one examines the precapitalist paradigm of consensus, one is faced with a choice: either reject the dialectic paradigm of expression or conclude that society has significance, given that neoconstructivist materialism is invalid. In a sense, the subject is contextualised into a Marxist class that includes reality as a reality. If capitalist theory holds, we have to choose between cultural discourse and `powerful communication’.
stop; you are giving me an existential, non consensual, neo-constructivist, pseudo contextualised, real hard-on which is impossible to communicate; as its silent in dialectical pain on vertical plane; true cultural discourse of primal type.
Oh the humanities!
ROFLMAOOLWMHITS!
Errr, you get to choose..
Ben could have dispersed the Wall Street protestors by dropping some dollars from his helicopter. Where is he when the banks need him?
Seriously, does anyone see a way out of this other that global QE?
The problem is oversaturation of debt chasing overpriced stuff in extreme overabundance. I fail to see how forcing even more debt on that situation can solve anything.
Yes.
Let Sovereign Debt be attributed to all individual citizens equally, principal and interest; where interest is accessible and the principal is withdrawn every 35 years.
Your question implies there is a relatively easy, painless solution in QE, which is not a solution at all, tho it is the one being advocated and attempted.
Countries, corporations & people, primarily in the west, have simply borrowed too much money & lived beyond their means for too long, accumulating debt to the level where they now cannot repay it. Finally, creditors (banks) have recognized the problem & started to cut off the lending, but not before they put themselves at risk. So now they want governments to bail them out by printing, which for the most part is happening.
The problem with printing is it will simply cause inflation which will hurt the many poor the most, while benefitting the few rich and eventually, printing may contribute to hyperinflation, which will destroy the currency and result in societal chaos.
Sadly, most people (meaning countries, corporations & individuals) will look for a relatively easy, painless escape from this problem when there is none. Ironically, though, not taking personal responsibility & instead trying to pass problems off to someoen else, is laregly how "we" got into this mess in the first place.
Since we live in "democracies", which are actually controlled by an elite few thanks to apathy & mindless support of politicians bought & paid for lobbyists & special interests, the few who realize the painful solutions necessary to actually restore order will be marginalized in favor of the more vocal, clueless majority.
Here's a quick solution. Reestablish the gold standard at $2067 a once. Do a 1 for 100 trade in of old dollars for new dollars and we'll be back to where we were in 1932. All the millionaires will have $10,000 in real money and will stop pretending they are rich and go back to making money. Of course no more printing without gold to back the new money. The deflationary liquidation might be ugly for a year or two but after all the promises are broken we could start over again. Like China did in the early 1980's and former communist countries in the 1990's. Oops, sorry, just woke up. Go ahead and scr*w everybody, especially the working poor with some more QE. Bankers and other wall street speculators still have not accumulated the last few percent of real wealth in the country.
That suggests that the U.S. already has at least some gold on-hand to begin the process. You perhaps forget that Fort Knox is essentially empty now, Nixon having had his way with it. Why do you think Nixon wanted the U.S. off of the gold standard? Nixon very much wanted to do some off-the-books spending. Why do you think the FED wants to avoid being audited so fervently? The FED knows Fort Knox is currently off-limits to peering eyes, and they very much want to keep it that way. Can you imagine the hue and cry that would sound if U.S. citizens found out Fort Knox was now an echo-chamber? Not to mention the powerful shockwave that would rip through the USDollar? There would be blood. And that would just be the beginning ...
There is no way out of this with or without QE.
It is either coordinated global default or uncoordinated global default. Regardless, there will be multiple defaults.
Structural damage is the driver of this due to the acceptance of "debt is wealth", and the subsequent relentless, and wreckless monetization,
to inflate away debt, that will never be reconciled on it's own. The warnings were put in place long ago, and have been ignored with impunity.
This is a 100 year generational deflationary event, number two, if you will. In this particular cycle, most, if not all, fiat currencies will fail, starting with
the weaker currencies, eating it's way up the chain to the larger currencies, finally ending in a convulsionary flight from fiat into ______________.
The more monetization that occurs now, will serve as the gas pedal to shorten the failure timeline. With 0 mph representing "success" and 100 mph representing "failure" of currencies, my best guess is our speedometer is currently reading 60 mph, and the monetary powers that be, want to "punch it" pedal to the metal style, for surely, it will work this time..
I have spoken.
a little taste of heroin won't hurt you. we are here to help you with your pain.
she looks like the evil draco malfoy character from harry potter movies
Cruella Daville from Chicago.
this witch/bitch left the French Govts books in such a shambles they had to raid/rape long term pension savings to pay short term casflow payments ...a perfect CV for the crone tragedy that is the IMF then
the State is rammed to overflowing with incompetent, worthless, f'ing windbags (retards) like Legard who are billed as having a 'great reputation' ..it's like the blind leading the blind, the loons running the asylum, an academic moron like Ben Bernanke or Paul Krugman put in charge of the US's monopoly money system
the only 'good' that'll come out of these losers actions will be systemic wide lemming-like collapse ..about time for a free market in money (market and money rigging crook, Rothchild, can go fuk himself)
Andy Worhol
I bet Bernanke gives the IMF a lot more money...trillions....its looks like you are helping out the world...when in fact they are doing your dirty work for you....politically he can´t bail out European banks...but the IMF can...and we know Obama loves a world order to distribute wealth to the poor countries....I bet that after his first term this is where his next job is...
Taken as a whole the US is hardly richer than the EU ... they are both poor, both running massive trade deficits. The US has a bigger stick, but not a better economy.
yeah. go look up that EU trade deficit relative to GDP and compare it with the USA before spewing ignorant nonsense.
http://www.tradingeconomics.com/euro-area/balance-of-trade
Fuck, yeah.
Funny...that site says 'surplus'...can you say, "surplus"? Can you remember the last time the US had a trade surplus? I can't...but mostly because I was in diapers at the time.
Thanks for the link Fool.
Disintegration resulted from attempts to centralise , in regards to the euro, as those who wish to centralise and control lost the reins to those who wish to self regulate and profit from wherever and whatever and centralisation gives to them free ( easier) rein over a wider domain ( remember that GS and other US banks financially gained from helping Greece deceive the true level of their debt in order to join the euro) . Self regulation of the finance markets and banks and the centralisation of control ( implied) of the IMF are conflicting ideas, And in $$$ terms the IMF is not a big player.
"National programs to throw fiat at debt have failed to do anything but create increasingly volatile inflation in prices. Consumer costs continue to climb in countries like the U.S., China, and the UK, despite deflationary symptoms in equity markets, which should supposedly counteract the poison of the printing presses according to Keynesians."
I identify as a Keynesian, yet I don't suppose that would work ... except in a balanced trade world with fundamentally sustainable economies.
In a country with a trade deficit sustained by military might and/or the temporary ability to export know how money printing is simply a diversion. There is no solution, without slavery trade balance is inevitable (although being able to put it off for 4 decades and counting has been an impressive feat). Trade balance means reduction in living standards for the US and the EU, period.
Does Keynes work consider a world with a dominant military superpower?
War is a racket. It 'disrupts' the flow of goods & capital in such a way as to allow a few control freaks to make huge profits in a short but highly destructive period of time. War destroys those who have a weak military and history has shown that the aggressor meets the same fate in due course of time. Nobody wins in the end.
War is also a distraction...it keeps the peons waving flags and signing up when they should be directing their aggression at much closer targets.
The recipes outlined by Christine cannot succeed.
Which trade surplus nation will start to run deficits in order to allow deficit nations to close the gap? So much for collective action.
How can austerity produce growth ?
The mega rich need to write off the paper debt they hold which cannot be serviced or repaid. If they do not write it off and persist in collecting interest, then sooner or later their serfs will tell them to fuck off and it will be on for young and old.
There may well have been an opportunity to transfer the non-productive portion of the government sector to the productive private sector had governments and the large corporations not conspired to transfer the manufacturing and other jobs overseas and if governments had at least spent their deficits on infrastructure renewal instead of overseas wars.
Will the serfs really tell them to fuck off? At the moment the serfs seem to be buying feudalism hook line and sinker ... just look at most of the crowd here (who'll never own up to the fact that feudalism is just anarcho capitalism with concentrated land ownership) or the Koch Party. These people are looking on gleefully as the people who are telling the mega rich to fuck off get trampled by police, satisfied with the fact that they can hitch a ride with the big theft by investing in PMs.
Yes they will tell them to fuck off, although admittedly it may take some time for it to happen. There is still much bread and circuses for the public to consume and the level of misinformation together with sub-standard education could well keep the show going for a lot longer than we suspect.
"[The people at ZH are] satisfied with the fact that they can hitch a ride with the big theft by investing in PMs."
That is partially true, but PMs also protect against a complete collapse of the game, if the serfs win. Other measures are being taken as well.
The Koch party (well played) calls for austerity, which is just a plea to TPTB to impoverish the other guy. In return the Koch party offers to lick TPTB's boots clean.
That bitch looks like Julian Assange after a 5 year meth addiction.
I am Chumbawamba.
It all comes down to printing money
Money for nothin,
http://m.youtube.com/index?desktop_uri=%2F&gl=AU#/watch?v=dlPjxz4LGak
Unfortunately for DSK the chicks weren't free :)
" Obviously [the recovery] never materialized, and so, the game has to shift to a new dynamic to keep us all guessing."
So true. When the peeps won't swallow hopium and get cynical, keep them guessing.
Is she "twisting" her nose because it is getting longer?
Typical body language.
She´s listening to another serial liar.
Hand to mouth area while speaking or listening to others is indicative of lies and deception.
Looks like she's smelling her fingers while thinking about last night.
From your hole to Lagarde's lips.
The negative sentiment toward Wall Street is growing.
Will we ever see a time where someone who has worked on Wall Street or similar must leave the experience off his/her resume to get hired in a productive industry?
In the U.S. the ratio of total credit market debt to GDP topped at a stunning 380% in 2009. Since around 1980 it had been in exponential rise from 150%.
It has now dropped to 340-350% in spite of govt. hectic debt increase. So, the private sector is liquidating debt quite aggressively and heading down to a suatainable level. This necessary and healthy process, if left in peace, should take 10-15 years.
Never let a crisis go to waste.
"It has now dropped to 340-350% in spite of govt. hectic debt increase."
How much of the drop would you attribute to consumers defaulting on existing debt? ... How much of the drop would you attribute to consumers paying down existing debt?
How much of the drop would you attribute to home owners not paying their mortgages and taxes on their underwater real estate, and using those monies to pay down revolving credit and other debt?
I don´t have access to that information.
The net swing is certainly huge, around $5 Trillion. Since the govt. has increased its debt by $3-4 Trillion over the period, the private sector has pulled in its horns to the tune of $8-9 Trillion.
such a nice little jewess.
http://4.bp.blogspot.com/-KTFxyyiaZKo/TefSNgewyoI/AAAAAAAAASA/JBSnWWPkq6...
She's just counting with her fingers. That's one for the people.
knock 'em, if you like... but when they're smart and right-in-the-head, they're good people to have around
I know it was said,but it needs repeated.
Fuck you IMF.!
"The gesture appears similar in nature to the Federal Reserve and Ben Bernanke’s sudden efforts to assuage negative public sentiment towards central banks using highly publicized media events designed to add a “human identity and touch” to the normally faceless and soulless global banking cartel".
WE ARE NOT THAT FUCKIN STUPID, WE KNOW WHO YOU ARE, WE KNOW WHAT YOU HAVE DONE AND ITS TIME TO GET YOUR FUCKIN ACT TOGETHER AND COLLAPSE THESE BANKS AND RESTRUCTURE THIS DEBT.
I agree with 90% of what's already been said. I have only to add that she has one of the most amazing noses I've ever seen. Its almost genital in nature.
I would contend that when the Fed bailed out european banks on the sly, we already started this phase, but you don't get the Captain Obvious sign hung around your neck, because it's a good observation that the propaganda campaign to support what they have already begun is about to kick into overdrive.
Thanks Brandon, good article.
Good point that Lagarde ignores the fact that the debt problem is already so bad that it can't be solved. They can't fix the problem, all they can do is move it around onto other people's shoulders. Her comments about how concerned she is about household debt are hilarious inasmuch as the solution being offered is debasement of our currencies. What a tool.
Ha! Was this written by Hank Paulson? Quick, give me what I want or we all die!
What a buffoon.
Her first job is to hold on to her job. That's all this statement is. There's only one way to destroy the dollar and that's for her and the world bank to create a dollar backed by gold which will capitalize a new banking order such that "terms of trade" can be maintained. And that of course is where all of you here go "off-roading" with all your...WILD... "evil cabal" this and "conspriracy" that. These folks are simply looking at the data that trade flows have been in free fall since 2008--had a brief reprise in 2010--and are now declining again. Simply put the only counter-parties that the private sectors trust are their respective governments hence "there goes trade" as we've known it. It's amazing actually that we made it this far if you think about it. Anywho the IMF will not be "rescuing" Europe anytime soon. That's the petri-dish and the USA and East Asia need to watch closely and hopefully learn as well. That also means what happens in Europe will be the exclusive realm of politics for the forseeable future btw.
The IMF/FRB and all the rest are no different than the satellites and the high tech drones that wander the skies of AfPak.
They look around for boogie men.
Maybe fire a missile or two after some turncoat on the ground rats out some expedient target.
But those drones never hold the ground.
Night vision, burst communications, crazy mile plus sniper shots, bribes to the local strongman, cultivate and protect Opium/Heroin shipments to kids in Europe and yet you can never hold the local village with any certainty for any length of time.
10 years of high-tech high octane fighting supporting a logistical freak-show and some dude walks into a secure area inside a US embassy, or forward operating area and kills at close range. It happens again and again and again. Never mind the IED.
It happened to Alexander the Great, the Mongols, the British, the Soviets and now the Amerikcan Army. The point is an alien force - like the IMF - can hover over the Land with the best (worst) of intentions, but the local population will ALWAYS resist. ALWAYS.
What we are seeing is the formation of the Red Coats - an occupying force in America, supported by ill meaning Corporate elites and hapless politicians. The hammer drops when the out-to-lunch Obama/Perry/Clinton/Romney/Cain brigade directs US taxpayers to work their asses off to support the IMF and the bailouts of more foreign banks for fake debt.
I can say on the ground right now, good people are dropping out of the economy, going to barter and growing their own food in order to cope with an increasingly hostile government. People are beginning to not have money to buy enough food calories every month, register their car, or pay for Obamacare insurance. Name ONE thing inside an Amerikan household that is getting better. ONE.
Its worth going back to the US Declaration of Independence and reading the list of grievances between the colonies and the King. Where are you on that list today between the Citizens and the Government? Der Social Contract ist kaput.
Where is your elected "representatives" in protecting you and other Citizens?
Busy sucking Fed's and IMF's cock.
The Federal Reserve is neither Federal nor a "Reserve". This private bank run by the "Bank of England" has been stripping the US of its assets since the days of Andrew Jackson. If the $16,000,000,000,000.00 given away secretly, since 2007, to the member banks isn't reason enough to overhaul our entire government financial system then our country is doomed to financial failure. You won't read this in the mainstream media....but it may emerge in the coming elections. Read about this first ever audit of the Fed and understand why we are in such trouble. Tuesday, September 27, 2011 First Ever GAO Audit Of The Federal Reserve(You can click on the site and read the report).
The first ever GAO audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill (HR1207), so that a complete audit would not be carried out. Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve nearly 100 year history were posted on Senator Sanderâs webpage earlier this morning.
sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3 (Summarized below)
What was revealed in the audit was startling:
$16,000,000,000,000.00 (TRILLION) had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the worldâs banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest.
Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs. To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is only $14.5 trillion.
The budget that is being debated so heavily in Congress and the Senate is only $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world. In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion. ****
When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self-identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.
Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and super-corporations like Halloween candy.
The list of institutions which received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows:
Citigroup: $2.5 trillion($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion* ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
IT WILL BE INTERESTING AS TO HOW MUCH ATTENTION (AS WELL AS THE SLANT) THE MAINSTREAM MEDIA GIVES THIS UNBELIEVABLE POSITION OF OUR GOVERNMENT HAS PLACED US IN WITH NEVER PREVIOUSLY HAVING AN AUDIT OF THE FEDERAL RESERVE.
I AM CONFIDENT THAT WE WILL HEAR SOMETHING LIKE THE FED HAD TO GIVE STIMULUS TO WHOM THE $16 TRILLION WENT TOO BECAUSE IF WE HAD NOT ALLOWED THIS IT WOULD BE THEIR COLLAPSE AND THE OURS.
HAS ANYONE EVER HEARD OF CLOWARD AND PIVEN ECONOMICS? (PARAPHRASING) IT INVOLVES TWO HARVARD PROFESSORS WHOSE BOOK SAID TO CHANGE ANY GOVERNMENTâS ECONOMIC SYSTEM INTO A SOCIALIST ONE, IT SIMPLY DRIVES THEIR ECONOMY INTO THE DITCH THEN THE CITIZENS ALLOW THE GOVERNMENT TO DO WHAT THEY WISH TO SAVE THEM
We are all getting fucked by the banking system. World wide. Housecleaning, anyone?
Staggering:
1° The problem is global the solution must be global. The thesis of Central planners and IMF.
2° The problem is global. The solution is to walk away locally, and build local solutions. Let the global ponzi burn itself out. The ZH thesis.
At least the two positions are now clear.
What we don't know is the true reality of size of financial hole created to date by the global financial ponzi...Nobody will own up to it, saying, if we disclose it to public, panic will only make it worse. Classic "regulatory capture" play. No way to find out where the truth lies...Must we all stifle in silent attrition? Lke the Greeks today...tomorrow, whose next?
Another socialist who thinks the whole world is just a giant circle jerk only awaiting a liberal to mold them into climax.
OT-
First units of Qatari Cavalry arrive in EZ to save the Grecian Damsel in distress...
ATHENS | Sat Oct 1, 2011 4:52pm BST
ATHENS (Reuters) - Qatar Holdings will invest a total of $1 billion in European Goldfields, including $600 million to finance operations in Greece, where the London-based firm has a permit to mine gold, the chief executive of the sovereign wealth fund said on Saturday.
Qatar Holdings will buy a 10 percent stake in European Goldfields from Greek building firm Ellaktor and has a call option to buy another 5 percent, CEO Ahmad al-Sayed said after a meeting between Greek and Qatari officials in Athens.
"In total, we will invest in the company about $1 billion," Sayed told reporters.
Sayed also said Qatar was "examining different opportunities in the country."
(Reporting by Lefteris Papadimas Writing by Ingrid Melander; Editing by Peter Graff)
Low on the value chain natural resource plays are hardly going to help an economy.
Her solution for failing Eu socialism is world socialism.
LOOK!
It's a woman
It's a man
It's a bull dyke
NO... it's
Superillumanatibitchdykepuketard
That was a bit Yahoo of you, EofI --- not that I can disagree.
I want the bankers to be strung up by their heels. Lagarde wants global cooperation to declare a new banker/dictator. But she is right that we do need vast new universal regulations to the point of economic totalitarianism, and those regulations need to be draconian.
They need to outlaw robo-signing and prevent creation of AAA-rated toxic assets. Those measures will, of course, destroy the fraudulent securitization model. Regulations need to force legitimate accounting of assets and liabilities, which will, of course, expose the zombies. We need to crush the OTC derivatives market back down to insignificance. We need to separate banking activities with an impenetrable and permanent wall. We need to withdraw any and all possibility of taxpayer relief of bank balance sheet pressures. CDS contracts need to be regulated as insurance, which will, of course, kill that market for good. We need to audit the Fed.
Badges? We don't need no stinking totalitarianistic badges!
To put it short - IMF does not produce anything of value but can only print money and even printing is only in exchange for promises to pay-back which consumer cannot make anymore. So IMF is powerless at this point.
real solution would be:
1) write off bad debts
2) wipe out bankrupt banks but take over their infrastructure to continue to provide basic financial utilities
3) abandon bad policies that distort the markets
4) address structural inbalances in the economies that've formed because of bad policies of the past
5) rebuild monetary system on the foundation of sound money
If they did all that then in no time things would start getting better on their own
That my friend, makes way too much sense.
This girl is an enigma. She popped on the French political scene in 2002 litterally overnight with the "she's big in America" tag. What we were not told is she was big in America **as a lawyer** not as someone with a degree in economy.
9 years later she's parachuted at the IMF and she pours gas on the fire ("the Euro banking system needs new blood or it"ll die") then she tries to piss on the fire she started...
The older she gets the more she looks like Andy Warhol
Bow down to your new queen of queens
Nah.
Look, the whole point of all this is to get you to the point where you shriek "Do something! Anything!".
"Anything?" they ask... "Anything?" And poof! we have a new world central bank and currency to supplant the dollar and all the national currencies. All will bow down before it and pay obeisance or they will perish. The lords and ladies of the bank will rule the world.
There may be no other way out as to abandon dollar as world reserve currency and devaluate it to the fair exchange rate especially with rimimbi. Otherwise, when China finally floats their currency in a ten years or so there would be nothing left of Amerca's real economy. Sure, treasury department can print by then as much US Dollars as he pleases, Soviet Union did the same at it's end
I'd still give that LaGarde one....
Christine Lagarde: living proof of why Frenchmen cheat.
as much as WS and US oligarchs? Is cheating an ETHNIC trait?
Not ethnic, but cultural. It has a lot to do with priorities....for example, financial concerns taking precedence over monogamy.
I'd have thought it was the opposite; polygamy costs more for the man, simple financial math. So do mistresses. For the woman, of course, all is fair in love and war. After all, she is no more than Adam's rib in Abrahamic lands. So she can act as the proverbial spare rib and enjoy grilled sausage à volonté...That is poetic justice, not cheating!
Does any one else think Lagarde is just DSK in drag?
Like a Peter Sellers movie where all the main characters are... Peter Sellers...
BTW: “Global Action For A Global Recovery”
On Wall Street, that is called "Bailout My Bonus!"
You should never put your fingers in your face like this. It's flu season for crying out loud! But why would she worry about a little thing like the flu at a time like this. haha Of all the contagious things she's thinking about I'm sure the flu is the last thing on her mind.
http://www.youtube.com/watch?v=BnTp8yUcuG8&feature=related
...so what these ''elite'' evil bastards have already done, through offers of temptation and corruption, it just ''happens'' to perfectly fall in line with their secular new world order occult global U.N. Agenda, which just happens to be describe in prophetic scripture. The occult and the Word of our Father in Christ describe the timing of what we now are witnessing upon this generation, that is a reality most refuse to consider. We already know the works of the so called elite and it is no secret that the occult elite have accepted the claim of dominon they are now offering. Scripture declares this evil offer, now upon this ''last'' generation, stems from deception derived from what the occult base their claim upon, a ''lie'' of course, the deadly one. The IMF and the central bankers etc... describe their ''moral hazard'' and we now see the mark of their moral hazard devouring labor. The point of no return or negative rate of return, based on ''their mark of debt'', is described in scripture as the ''want'' of Babylon, Babylon which is fallen and Babylon being described ...as the whole world deceived, or all the nations under a single global corrupt market. So, this delusional IMF woman, riding the new world order global market beast ...of; debt and demand destruction, riots, uprisings and war, she is offering what scripture defines as the Cup of Fornication and her offer well defines the strong delusion of the elite claim of dominion, which is founded upon the bottomless pit ...or the end goal of their delusional offer ...to establish their own image of their own global currency, which everyone will be forced to use in order to buy sell or trade the elite occult lie. ''Their'' own ''occult'' will and ''designed lie'' does not agree with The Truth, it sacrifices The Truth of the individual laborer of the harvest instead of defending the right of the individual laborer. That is insane. It's the image of killing your brother and expecting his dead body to provide a greater yield from the harvest that sustained the wealth your brother provided before his death. The pyramid on the Dollar is the prime example of their occult image of that same negative rate of return, which marks the time of entombment, and future failure, the moment people accept the fiat currency of the elite new secular occult order. There is no doubt, it's not a secret that can be kept from the public.
From this point on, based on how the world was put in this crisis, these evil bastards mean to destroy anyone that does not accept the occult new world order global agenda. That has already been proven throughout human history. We are at war my friends and we are not going to overcome this elite crowd of evil bastards, they have the people busy fighting the war ''waged'' against them, which the elite have established with their own labor, which is the only real foundation for the war against labor. The IMF etc... Whore of Babylon is offering the same old bullshit, which is; go ahead and take a bite of the apple, accept our offer and our claim of dominion, even though you have been told by history that when you do accept the occult image you will die upon the occult alter for the purpose of sustaining the delusion of the evil bastards that unsealed the black hole, ...oh no that will not happen. How pathetic, labor is in the black hole and there is no stopping Babylon from falling.
So, this crazy bastard IMF nutball represents opening the gate of hell on Earth. She wants the ''lie'' to enter in to every person on Earth. The seal of this mark, of that lie, is the death of what was The Truth. That lie is the seal and mark of the occult reality of the elite. The ''unbecoming laborer of the harvest is the global new world order host of corruption and death. The goal of the occult is to defile the temple, which is the laborer of the harvest. In order to do that the gate of the temple must be ''changed'', in the mind of man, through deception. The gate of hell is is establish by the lie and the lie unsealed the host for the corrupt and the occult elite bastards. The lie shall then stand where it should not. among the laborers of the harvest, as deadly soldiers in the field. The occult can only enter into corruption through the ''lie'', that lie is what the elite would have standing within everybody in the field, in order to claim dominion over the entire global population,. The elite evil bastards must try to get everybody to accept the lie they have to offer in order to do that. That lie is the offer and goal of the elite and this IMF moron, and it means war. So, in order to control labor ...labor must be deceived through the mark of ''debt'', which devours labor before labor has even rendered it's own capiltal rate of return, which is required to sustain labor, and these elite bastards ''want'' everyone to accept more debt to sustain the lie ...which is killing labor. That is the mark of the beast, or the ''want'' of Babylon, which this IMF elite whore wants people to accept as ''security''.
There is no need to tell these assholes to go to hell, and they sure ''as hell'' have no interest in a commerce tax only system, which will suck the life out of the elite power. The elite only know how to wage war by using debt to establish their new world order beast, which they have been able to hide in their mark to myth etc... black hole they are now basing thier ''borderless new world order offer on, The occult elite want to control the entire global body of labor. Well, who on Earth is ever going to accept this evil offer? What moron would serve under this new world order? ..this stupid evil offer of contempt? ...much less as a soldier or police officer willing toture and kill people that refuse to ever submit to this evil offer? Well, ...look at the soldiers and the police now! From the IMF and World Bank protests in Seattle to D.C., to the current protest in NYC, to the Middle East and Europe, to the streets of the Great Wal Mart of China, Labor is in an obvious black hole, war, and prison state all over the world. Any individual that refuses to go along will the lie discovers that out and walks through the valley of the shadow of death knowing both good and evil, because, ...their eyes are open to ...the Monster Mash.
http://www.youtube.com/watch?v=KzsYEsc_bQw&feature=channel_video_title