IMF Prepares For “Threat To International Monetary System”

IMFTyler Durden writes on Zero Hedge:

There is a new threat to the international monetary system which means Europe May 2010 redux is imminent. US taxpayers: our condolences.

Back in April 2010, before Waddell and Reed sold a few shares of ES, effectively destroying the market on news that Europe was insolvent, we made the following observation: “The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion.” Little did we know that our conclusion “something big must be coming” would prove spot on just a month later after Greece, then Ireland, then Portugal, and soon Spain, Italy, Belgium, and pretty much all other European countries would topple like dominoes tethered together by a flawed monetary regime. Well, based on news from Dow Jones we can now safely predict the following: “something bigger must be coming.”…

For more information, see original article.

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  • Cocomaan

    I love that site.

  • Cocomaan

    I love that site.

  • rtb61

    Yet that debt affects not one grain of wheat, not one rasher of bacon and, not one cup of milk. The reality is that debt has little or no impact on the poor and very little impact upon the middle class. Who it does affect is the rich and greedy, their perceived illusion of wealth, our choice is whether we accept the illusion of the wealth of the psychopathic rich and greedy via the deceit of mass media or whether we pack those sociopaths off to the loony bin where they belong and out of government and company boardrooms.

    • Andrew

      You got it. Monetary debt is an intellectual construct, and nothing more.

  • Anonymous

    Yet that debt affects not one grain of wheat, not one rasher of bacon and, not one cup of milk. The reality is that debt has little or no impact on the poor and very little impact upon the middle class. Who it does affect is the rich and greedy, their perceived illusion of wealth, our choice is whether we accept the illusion of the wealth of the psychopathic rich and greedy via the deceit of mass media or whether we pack those sociopaths off to the loony bin where they belong and out of government and company boardrooms.

  • Andrew

    You got it. Monetary debt is an intellectual construct, and nothing more.

  • robbery

    we are all controlled by debt. its how the powerful maintain their power

  • robbery

    we are all controlled by debt. its how the powerful maintain their power

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