IMF Releases Steering Commttee Communique On Greece - Full Text

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Sat, 09/24/2011 - 13:57 | 1705545 oogs66
oogs66's picture

blah blah blah?

Sat, 09/24/2011 - 14:05 | 1705580 spiral_eyes
spiral_eyes's picture

collectivism, bitchez.

Sat, 09/24/2011 - 14:23 | 1705626 falak pema
falak pema's picture

Oligarchism imposes collectivism through surrogate politicians on sheeple, to ensure its uber-alles stature. 

This is not a Bolshevik type collectivism. It is the other type. That of the Oligarchs. In medieval times it was called feudalism and the sheeple were called serfs. We are heading that way. So read about medieval times to refresh your minds about the future.

She has the legs of Margaret Bogenrief as well! ....I'm referring to my lead lady in novel!

Sat, 09/24/2011 - 18:30 | 1706108 Pizza spaghetti...
Pizza spaghetti and mandolino's picture

This is neo-Trotskism, not feudalism, as it is very "liberal" on manners.

Also don't forget that taxation in the Middle Age was way lower than it is anywhere in our days. Typically it was about paying the tithe, i.e. 10 % income tax. As for the serfs in medieval times they had their own plot of land on which the landlord had no say. Obviously the regime of  modernity doesn't like such comparisons and has suppressed the true history.


Sat, 09/24/2011 - 22:46 | 1706577 jeff montanye
jeff montanye's picture

while neo-trotsyist in habillement, feudalistic at the core, imo.  i don't think serfs had their own plot of land on which the landlord had no say.  

although not good, and certainly not as good as we expected, i really liked ike, it really is better than it was a thousand years ago.

Sat, 09/24/2011 - 21:29 | 1706452 madbomber
madbomber's picture

what is the point in refreshing then? :)

Sun, 09/25/2011 - 05:54 | 1706988 falak pema
falak pema's picture

nothing is permanent. The fight goes on. Swings and roundabouts. I'm on the side of those who fight for "bottom up" emancipation; not "top down" imperialism. Checks and balances as Montesquieu said; exposing the "two swords ponzi" as Voltaire showed the world : both of temporal and religious Oligarchies. 

Sat, 09/24/2011 - 14:24 | 1705633 smlbizman
smlbizman's picture

steering committee sponsered by rube goldberg....

Sat, 09/24/2011 - 14:37 | 1705668 I am more equal...
I am more equal than others's picture

That great sucking sound coming from Europe is from the vacuum of leadership.  The void causing this vacuum is growing at an exponential rate.  What gets sucked in will be dangerous when it takes control.  If history repeats, or even rhymes, then it would suggest the next great leader will take these event and deceive most and bring destruction on a scale not known in humankind.  Think Hitler of the 20's.  Think Mao of the 40's.  Think Pol Pot of the 70's.  That is recent history.  Nature abhors a vacuum.  It will be filled.  It won't end well. Have a nice day.

Sat, 09/24/2011 - 17:47 | 1706036 narnia
narnia's picture

Nonsense.  We are witnessing a fracture of confidence in central planning, not a vacuum of leadership or a shift towards fascism.  The central wankers have no clothes, and the more they speak the more people start to acknowledge that fact.

The EU will fracture into the way it was before the EU.  The world will not end.  It will be better in the long run.

Sat, 09/24/2011 - 22:38 | 1706570 DosZap
DosZap's picture

I am more equal...

What gets sucked in will be dangerous when it takes control.  If history repeats, or even rhymes, then it would suggest the next great leader will take these event and deceive most and bring destruction on a scale not known in humankind.  Think Hitler of the 20's.  Think Mao of the 40's.  Think Pol Pot of the 70's.  That is recent history. 



Sat, 09/24/2011 - 14:38 | 1705669 I am more equal...
I am more equal than others's picture


Sat, 09/24/2011 - 15:30 | 1705796 Arius
Arius's picture

Ms. Shafik and Mr. Zhu ????

yeap .... New World Orlder

Sat, 09/24/2011 - 16:47 | 1705931 AbelCatalyst
AbelCatalyst's picture

Collectivism as in a thousand Bison running off a cliff together... Oh, and when they do all those USD swaps go up in smoke... Who's going to bail out the FED again??? Oh right, they can just print their way out.... Riiiiight!!!

Sat, 09/24/2011 - 16:06 | 1705870 english serf
english serf's picture

Its such shit. Only two options, keep printing or default. I'm fucking ignorant  and even i know that

Sat, 09/24/2011 - 16:51 | 1705941 toady
toady's picture

What about keep printing AND default? The third, most likely, option.

Sat, 09/24/2011 - 20:19 | 1706332 Dugald
Dugald's picture

Ah! been gazing at yers navel again Mucker?

Sat, 09/24/2011 - 20:22 | 1706341 Waterfallsparkles
Waterfallsparkles's picture

They are not Bailing Out Greece they are enriching the Bankers.  Nothing like a crisis to plow Money into the Bankers hands at the expense of the People.

Sat, 09/24/2011 - 21:59 | 1706508 TheGoodDoctor
TheGoodDoctor's picture

@english serf Please note that I gave you a positive vote but that it wasn't because you are ignorant! :p

Sat, 09/24/2011 - 16:50 | 1705938 Shvanztanz
Shvanztanz's picture


Sat, 09/24/2011 - 17:01 | 1705958 william shatner
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Is gold becoming the new currency? The Swiss stock exchange will soon offer clients the possibility of having post-trade profits paid out in gold.

Introducing the new service, post-trade specialists operating on the Swiss stock exchange Six Securities Services (a subsidiary of Six Group, owner of the Swiss stock exchange) said the new payment versus delivery service using gold was the first of its kind in the world and would operate “exactly like” a new currency.

Sat, 09/24/2011 - 17:21 | 1706000 agent default
agent default's picture

Oooops.  Let the bofire of the fiats begin for real.

Sat, 09/24/2011 - 17:39 | 1706031 augie
augie's picture

all of this is blah blah blah. you have beginings of a fucking revolution brewing in lower manhattan AND ZEROHEDGE HAS NO COVERAGE! WTF TYLER!?

Sat, 09/24/2011 - 18:22 | 1706094 toady
toady's picture

Like I said a few days ago about a similar video;

The cops will win every time until some of those cell phones and video cameras everybody is hold turn into hand guns.

Sat, 09/24/2011 - 20:05 | 1706302 BurningFuld
BurningFuld's picture

You think that is bad?

Free speech?   I laugh at you.

Sat, 09/24/2011 - 21:41 | 1706476 zhandax
zhandax's picture

Interesting; YouTube has frozen the 'views' counter at 304 even though the 'likes' counter went up by 10 while I watched it.

Sat, 09/24/2011 - 13:59 | 1705549 Cassandra Syndrome
Cassandra Syndrome's picture

New World Order bitchez

Sat, 09/24/2011 - 14:36 | 1705665 Long-John-Silver
Long-John-Silver's picture

New World Disorder Bitchez.

Sat, 09/24/2011 - 15:26 | 1705681 Sudden Debt
Sudden Debt's picture

I was amazed by the amount of US debt that my country holds. If they sold it all we wouldn't have anymore debt!


Our rates are almost double of those of the US!

What I would like to know is why we don't sell it. Why do we keep the debt of our own?


 On the other hand, if Europe breaks up and the euro becomes worthless, and the dollar survives WE'RE RICH!

 But in the end, everybody will sell the US bonds to cover their own asses, and that's why the US will go down for sure. And nobody wants to be the last one to sell when there are no more buyers so once it starts, it will go down fast.


Sat, 09/24/2011 - 16:40 | 1705924 DoneThis2Long
DoneThis2Long's picture

NWO .... just one more grandiose 'experiment' in a long and illustrious historical string of experimental bombs, by the power hungry egomaniacs to gain ever more control over the dwindling world assets and natural resources, in order of making a few more bucks, control a few more millions, yet forgetting that the more things change, the more they remain the same. NWO which will be as suckcessful as, Communism, Naziism, Socialism, UN, NATO, WTO, IMF, and the rest of equally worthless.

Humanoids are a self destructive, patheic species, bound for extinctions - soon - for we are among the dumbest species around - of course, contrary to our beliefs. How often we've made the same mistakes, yet, expected different results? The harder a handful of egotistical bastards try to impose their greedy views on the rest of us, the more explosive, and dangerous the end will be. When in the fuck will we learn? About the only talent we have is to destroy the natural order ... the environment. Unfortunately, we fuckup millions of years of natural evolutions as we pursue whatever the fuck we are pursuing, since nobody really knows. We are too fucking stupid to comprehend a simple basic concept: the Earth can only sustain only so many people, not several times that magic number.

[Shakes head in disgust].

Sat, 09/24/2011 - 17:39 | 1706023 Think for yourself
Think for yourself's picture

I always see the same defeatist fallacies when someone whips out the malthusian view.

In a bid to make a seemingly cogent argument you acknowledge the elite's influence on globe-shaping entities, yet you assign all the blame to the people. You miss the obvious elephant in the room; that is, that for centuries the elites have fought against the sheeple's enlightenment as a devil in holy water, through deliberate suppressing of living standards (so they don't have time to figure it out while busy surviving), through mass control like religion, state education, top-down consumer media, mass drug administration and god knows what else.

The elite's greed for power has led them to shape power mechanisms as tools to maintain scarcity - the financial system, through the origin of money, being a prime example - and to fight off abundance by all means necessary, abundance being the enemy of profit. It seems obvious, by straightforward game theory analysis, that this was done to ensure that the sheeple would evolve within an environment where competition, not cooperation, is the most individually viable strategy, countering general welfare interests - yet it is somehow human nature or the peoples' fault for being a "self-destructive, pathetic species"...

Why this blame on human nature? Don't you grok that human beings are, fundamentally, self-optimizing complexity machines responding to their environment? Scramble willfully the inputs, both informational and environmental, and of course the machines will come up with fucked up optimization algorithms.

Are you just trying to make a verisimilar statement that would covertly skip this inconvenient fact? That would make you a shill. Otherwise, can you not face the fact that there is no such thing as "human nature" and that, as potentially self-directed, conscious beings, each and every one of us are responsible for what we make of ourselves? In that case that would make you a coward. Choose your poison.

One last point, less vital than the previous yet ultimately as fatal to your argument. The earth's carrying capacity is directly related to the individual level of consumption and overall efficiency of production. That is, just like 3 billion people couldn't have survived for a year in the 15th century without half of them starving to death - same for 9 billion in the early 20th - current technologies could probably very confortably accomodate 12 to 15 billion people if there was actual political will to make the jump to post-scarcity economics. But don't let that stop you in your aspiration to genocide a major part of the population. Let me guess, with 500 million people we'd be fine, right?

If you honestly think something like this then do yourself a favor - and to us too, incidentally - and kill yourself. That's the only ethical way to attain your goal, anyway, so set the example.

[nods head in support]

Sat, 09/24/2011 - 21:49 | 1706493 madbomber
madbomber's picture

King James Bible
Be sober, be vigilant; because your adversary the devil, as a roaring lion, walketh about, seeking whom he may devour:

Sat, 09/24/2011 - 17:50 | 1706039 Piranhanoia
Piranhanoia's picture

We killed ourselves and decided slow was fine. We started in the 1940's, and have been working hard to insure everything will die with us. We started when we claimed killing people was saving people. The planet never did us any wrong, and we decided to kill every thing it made above ground.  Harry Bates and Edmund North told everyone almost as soon as it began.

Now we have a whole smart country that can't find anyone smart enough on the whole smart planet to stop an ongoing nuclear disaster in at least 3 reactors. This is the same country that is tool crazy and people have robotic sex. They know how to make tools.

This all happened when (at least) one currently problematic reactor was shut down cold when an earthquake hit. Most countries have no place to store the spent nuclear fuel or waste so they let it build up for dozens of years. The smartest idea to store crap that will never be safe was to put it in pools 3 stories high, in the same building as the working reactor. So cold shutdown appears to mean nothing more than, extreme danger level 1a.  Somehow the word "containment" became associated with "keep the damn barn door shut, your're letting all the animals out." Damn roof blows off,  ahh.  Radiation all over the neighborhood. The neighborhood is round and tiny and blue green and has a moon.

Our collective intelligence is on display and we don't give up easy. We find a way to turn some of the waste into projectiles. Pokes holes better that way. Pokes holes in all kinds of tissue better. Now we shoot it at little targets where it only poisons the local population if it misses them. Gives everyone an added incentive to leave the area, for good.

But don't worry,  fish is on the menu. Nightlights will become slowly, given one's perspective,  obsolete.

Sat, 09/24/2011 - 14:07 | 1705587 Irish66
Irish66's picture

Uncoventional waters

Sat, 09/24/2011 - 14:00 | 1705553 williambanzai7
williambanzai7's picture

Nice crock...

Sat, 09/24/2011 - 14:09 | 1705588 RSloane
RSloane's picture

It is very much like an intricately painted, lavishly detailed crock that unfortunately has a hole in the bottom so when you fill it with w[h]ine it dribbles all over your feet.

Sat, 09/24/2011 - 14:29 | 1705645 DeadFred
DeadFred's picture

They make it sound so simple and straightforward. I guess things are going be be just fine, right?

Sat, 09/24/2011 - 14:54 | 1705719 citta vritti
citta vritti's picture

sounded to me more like one of those ancient ritualistic prayers, refitted into today's socio-politico-econ speak, where you recite what you want the world to be in the hope that somehow it will turn out to be that way once you've finished. Once the group doing the chanting have convinced themselves it will be so, their next job is to convince everyone else, by various soft or hard weapons, I suppose, as ever. For the one world order fans out there, the words that jumped out to me from the communique: global financial safety net. And, no surprise, no banks or their employees are to be harmed in the making of this film.

Sat, 09/24/2011 - 16:57 | 1705953 vjmali
vjmali's picture

I agree, It sounds like a manifesto of a socialist organization, declaration of a resolution written by a junior bureaucrat ratified by senior ones enjoying taxfree salaries and perks. It is not even a plan but a deleration that there should be a plan.  And ofcourse a good ass licking thanks to others in the end.  We are fucked!!

Sat, 09/24/2011 - 16:59 | 1705955 toady
toady's picture

You read 'The Secret'!

Sat, 09/24/2011 - 17:26 | 1706008 vjmali
vjmali's picture

Right,  Only for those with assured cushy taxfree job for life and all the perks and pension. IMF should be handed over to chinese who will have the Europeans in work without pay under a gun to appreciate the concept of work for money and forget one month vacation and retirement at 55 or 58.

Sat, 09/24/2011 - 15:08 | 1705749 DaveyJones
DaveyJones's picture

steers over the cliff

Sat, 09/24/2011 - 14:01 | 1705556 CClarity
CClarity's picture

Dear IMFC,

You might want to meet again, before April 21, 2012, if you really believe governance reform is critical and that the IMF has an important role to play in this unfolding crisis.  Either get with it, or get out of the way.  Time is awasting.  More time is not the solution to Greece, Europe and global debt saturation.

Sincerely, the rest of us.

Sat, 09/24/2011 - 17:11 | 1705980 vjmali
vjmali's picture

Like we say here in the U.S never ever underestimate Europe's ability to disappoint the world.

Sat, 09/24/2011 - 20:35 | 1706366 Dugald
Dugald's picture

People in Glass Houses should not throw stones!!!

Sat, 09/24/2011 - 14:02 | 1705564 Dick Darlington
Dick Darlington's picture

And all they have to offer is more debt. All this bs abt "bold action", "vigilance", "what ever necessary" etc are just hollow words to manage perception.

Sat, 09/24/2011 - 14:03 | 1705571 frugartarian
frugartarian's picture

so... all talk, no walk?

Sat, 09/24/2011 - 14:03 | 1705572 PulauHantu29
PulauHantu29's picture

Mission Impossible:

"Yet despite China's rising power, experts say its economy is still not big or strong enough to compensate for meltdowns elsewhere: Chinese investment and spending is only one-sixth that of the European Union and United States. "From a global perspective, China's domestic demand is still way too small to offset the impact of a recession" in Europe and the U.S., Deutsche Bank economist Ma Jun said in a report.

To make up for a 3 percentage point drop in growth in those economies, China would have to grow by 18 percent this year, he says. "This is mission impossible."

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