I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.- Thomas Jefferson.

debt clock

Wednesday, April 14, 2010

Debt problems

Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink. - Ludwig Von Mises

Here are a few stories about debt-

IMF Executive Board Approves Major Expansion of Fund’s Borrowing Arrangements to Boost Resources for Crisis Resolution

Press Release No. 10/145

April 12, 2010

The Executive Board of the International Monetary Fund (IMF) today approved a ten-fold expansion of the Fund’s New Arrangements to Borrow (NAB) and the transformation of the Fund’s premier standing credit arrangement into a more flexible and effective tool of crisis management. The NAB will be increased by SDR 333.5 billion (about US$500 billion) to SDR 367.5 billion (about US$550 billion), representing a major increase in the resources available for the Fund’s lending to its members.  more

Can anyone tell me what an SDR (special drawing right) actually is, and why it's worth about $1.5 US?  It's bad enough when individual countries and the EU print worthless fiat money, but now the IMF, a group of semi-private bankers, can on a whim, conjure into existence 34 billion SDRs, to be used to enrich more of their banker friends (I'm sure Goldman Sachs won't miss out on this teat's suckfest.)  In case you were wondering, the US is the largest contributer to the IMF, so those are your tax dollars at work.  We'll probably be bailing out Greece, to be followed by the rest of the PIGS, after selling 200 tons of IMF (mostly US originally) Gold to India, and another 200 tons being sold soon (to China?).  Let's give all our gold away, I'm sure we can trade it for SDRs.  We're f***ed!

Or maybe (conspiracy theory alert), the banksters sold the Indians hollowed out gold bars filled w tungsten, but that's still the banking cabal f-ing some-one.http://www.zerohedge.com/article/genesis-gold-tungsten-rest-story

This is a must read for you conspiracy bugs as it gets into some of the nitty-gritty detail of involvement from Bush, Barrick, Clinton, the Banksters etc.  here

The plate belongs to Morgan Stanley Vice-Chairman Rob Kindler.  Asshole.


California ire over Borat bonds

By Spencer Jakab

Maybe Bill Lockyer not make benefit glorious state California?

Taking a page out of Greece’s playbook, the peeved treasurer of America’s largest state fired off letters this week to the chiefs of Goldman Sachs and other banks questioning their marketing of credit default swaps on California’s debt. The instruments, he complained, “wrongly brand our bonds as a greater risk than those issued by such nations as Kazakhstan.” (follow link for rest of article)


No comments:

Post a Comment