Sunday, 4 October 2009

I'm from the IMF, and I'm here to help.

Do you believe their intentions are so noble?

BBC - Pledge for more IMF help for the poor

The French and British governments have announced a $4bn (£2.5bn) allocation to the International Monetary Fund to help poorer countries.

The money will go to the IMF's new loan facility to help countries which do not have enough money to pay for imports as a result of the economic crisis.

It will come from a $250bn (£157bn) allocation distributed a few weeks ago.

The money is essentially created by the IMF so, according to French ministers, there is no cost to the taxpayer.

The allocation of special drawing rights (SDRs) was agreed by the G20 summit in April.

IMF managing director Dominique Strauss-Kahn hailed the deal as "historic" and said he hoped other countries would follow suit.

He revealed that the IMF would have run out of money for its low income country loan facility - at zero interest rates - within months had France and Britain not come up with the money.

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First of all, it's asinine to say that there is 'no cost to the taxpayer' because the IMF prints the money. It's called the inflation tax for a reason!

Second, it's not as nefarious as their old school 30% compound interest loans, but there's an ulterior motive to this too...

Cartoon by Mike Adams http://www.naturalnews.com (click here for original page)

See this great article - quoting:

The IMF operates as a supranational agency to take control over helpless debtor states, to impose economic policies that force the country ever deeper into debt, while opening the market to foreign, often US capital and global corporate exploitation. The fact that debtor countries never get out of their dollar debt, only deeper in, is deliberate. IMF policy in fact insures this. The dollar debt is a major prop of the dollar system and of private international banks. When that debt is repaid, banks lose power and credit contracts. So long as debt grows, bank credit can grow, the paradox of modern banking.

Whenever I hear about the 'finance oligarchs' wanting to 'help' anyone, I think of this:
source libertystickers.com

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