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IMF poised to print billions of dollars
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Alistair Darling and senior figures in the US Treasury have been encouraging the Fund to issue hundreds of billions of dollars worth of so-called Special Drawing Rights in the coming months as part of its campaign to prevent the recession from turning into a global depression.
Should the move, which is up for discussion by the summit of G20 finance ministers this weekend, be adopted, it will represent a global equivalent of the Bank of England’s plan to pump extra cash into the UK economy.
- A d v e r t i s e m e n t
Simon Johnson, former chief economist at the IMF, said: "The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.
"The objective is to create a windfall of cash. However if everybody goes out and spends the money it could be very inflationary."
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March 17th, 2009 at 9:25 am
I love bacon in my tummy tum tum
i have doody in my bummy bum bum
middleclasssoldier Reply:
March 17th, 2009 at 8:07 pm
lol…wtf….lol
RoyalPain Reply:
March 18th, 2009 at 1:02 am
hotdogboy…..that was one of the most unexpected rotflmao moments I have ever had……holy shit that is stupid funny!
To Alex Reply:
March 18th, 2009 at 4:34 am
This is the reason why I often don’t like to come to this website — adolescent comments like this are detracting from the story. Alex, you need to have people create user names on here, permanent ones so that people can’t come on here and spew such childish nonsense as hotdogbo — I for one am getting tired of these inane comments from stupid readers.
Married to 1/3 Native American Reply:
March 18th, 2009 at 6:44 am
Don’t forget our erroneous sentence structures, and miss spelled words.
1/3 Married But Trying Hard Reply:
March 18th, 2009 at 7:52 am
All you have to do is turn on subscription in the WordPress control panel guys – make people become a member to subscribe – no anonymous comments. Of course, members can use pseudonyms.
Also setup a compulsory spell checker for misspelled words.
Paul Noble Reply:
March 21st, 2009 at 8:08 pm
I understand exactly how you feel but creating usernames won’t stop people posting rubbish.
Unless you won’t to stop freedom of speech there isn’t much to do.
A small price for freedom of expression !
March 17th, 2009 at 9:30 am
Choose sides here. The Illuminati worship “The Angel of Light”. The “New” Agers worship “The Angel of Light”. The eco wackos worship “Mother Earth”. The so-called Eastern religions worship Buddha, enlightened ones, etc. etc. THEY have taken over God’s last stronghold, “the Late Great USA”. THEY have already won.
Before somebody says it most innocents in those places and religions are NOT due punishment but stand clear of the modern day Pharisees and money changers like Rockefeller, Soros, the “New” Agers, etc. who have willfully killed God’s handiwork and the hope of this world vis a vis the great, albeit imperfect, Founding Fathers.
THEorYofLIVEvolution.com
bill Reply:
March 17th, 2009 at 1:49 pm
It’s a shame that santa claus… I mean the good god seems to have failed to notice what has been going on for thousands of years… perhaps he’ll finally wake up, get his divine finger out and do something about all this evil and injustice… I don’t plan on holding my breath!
Major Karma Reply:
March 17th, 2009 at 4:11 pm
It is utter bullshit to say, let alone imply there are only two sides to this worldwide problem and I resent your use of this “Angel Of Light” term, as if any angel would have anything to do with most here and elsewhere. I am not sure what is worse, the Wealthy Elite or the Ignorant Self Righteous whose religion is some Walt Disney Version of Judeo-Christian Doctrine. I bet you are one of those who think that when good people die they become angels or that there are female angels. The fact is this planet is about 70% corrupt and sick..all sides, all colors, all socioeconomic classes. That is why Alex’s fight is pointless. This world needs a major culling and maybe if the “Meak” are the only ones left, they will be worthy of life.
Raging Moe Reply:
March 18th, 2009 at 5:20 am
RR is a troll.
Hunter Reply:
March 17th, 2009 at 5:25 pm
No matter what any of us believe, history happened only one way and I believe our true history has been lost in the sands of time.
We cannot possibly be solid in our belief in any one thing, in any one true history. There is so much that happens in life that it is impossible to accurately record exactly what happened without something being lost, corrupted, twisted, spun in one direction or another. History is more like a dream we vaguely remember after first waking in the morning.
What I know for sure is that humanity deserves a chance; we are all part of one consciousness that is higher than “you” or “me”. What I know for sure is that this life is for us to experience, to create, to love, to simply be, even though many in their own selfishness and mania will do everything they can to ruin this experience for others. What I know for sure is that there will never be peace until we start seeing how we are similar, instead of how we are different.
The enlightened ones understood this and it was taught relentlessly against all opposition. Many died delivering this message. I do not believe Alex’s info war is pointless. I believe it is the very point, in fact. It is the experience that counts; we are all here to -do- something, even if it is inaction, you are still choosing to do inaction and you still have an equally drastic effect on the way history takes place, whether you like it or not.
The problem is choice. We all choose to -do- something. In this pinnacle of history that will surely change the world forever, what will you choose to do?
My friends, it is 1774 again and the “Intolerable Acts” of the new millenium are being enacted by our rogue government of thugs, gangsters and thieves. Whatever happens this time around will happen much faster than it did two centuries ago. Make your choice soon, because eventually it will be made for you.
March 17th, 2009 at 9:59 am
How merciful of them , infortunatly , I don’t like FIAT currency , and I am a staunch believer in
ass washing , so have no need for it …safe n’ except startin’ a good ol’ fire now n’ then !!!
Weben Hadd Reply:
March 17th, 2009 at 1:11 pm
“Look doddy, it raining GREEN CONFETTI”
“Yes Son, I’m just glad we can sewwp up all we want and burn it to keep warm this winter!”
March 17th, 2009 at 10:04 am
to quote Doug Adams:
“Far out in the uncharted backwaters of the unfashionable end of the Western spiral arm of the galaxy lies a small unregarded yellow sun. Orbiting this, at a distance of roughly ninety million miles is an utterly insignificant little blue-green planet, whose ape descended life forms are so amazingly primitive that they still think digital watches are a pretty neat idea.
This planet has, or had, a problem, which was this.
Most of the people living on it were unhappy for pretty much of the time.
Many solutions were suggested for this problem, but most of these were largely concerned with the movements of small, green pieces of paper, which is odd, because on the whole, it wasn’t the small, green pieces of paper which were unhappy.
And so the problem remained, and lots of the people were mean, and most of them were miserable, even the ones with digital watches.”
sums it all up.
Iyllas Reply:
March 17th, 2009 at 11:33 am
Funny book.
March 17th, 2009 at 10:08 am
Have a heart, the IMF is here for you,it loves you,it cares deeply for the peoples of the world.All good flows from the IMF,believe-believe,believe.There now are you not happy?
March 17th, 2009 at 10:45 am
These guys just keep diggin’ this grave deeper
March 17th, 2009 at 10:55 am
Prior to the latest recession, I seem to remember the UN saying that they had billions of dollars to save the world, but there would be conditionalities…
March 17th, 2009 at 11:05 am
RR——
Your blanket statement about Buddha, shows your having little knowledge about that ‘way’ of thinking. Strong arguments can be made about Buddism not even being a religion. While I normally don’t speak ill of Christians, your comments are very close- minded, and really, I guess, hateful.
I chose sides a long time ago. See you in the ditches.
March 17th, 2009 at 11:05 am
follow the money
March 17th, 2009 at 11:13 am
Hey guys,
)
I’m gonna print up some money too! I’m calling it metoo’s SDR money. Boy, I’se gonna be rich;
or at least mighty wealthy.
Teach Reply:
March 17th, 2009 at 12:17 pm
Great idea. I think I’ll print some too. Is there a standard format for the metoo, or can we make it any style we desire? Since the banks can do it, we shouldn’t have any problems with it either.
How about we start a bullet based economy and call it the sez-hoo?
me too Reply:
March 17th, 2009 at 12:56 pm
I like it. We could back the Metoo with bullets. Say, One Metoo would be equal to 50 Bullets, redeemable on demand. Good strong backing!!
We’d be a success!
Wetoo Reply:
March 17th, 2009 at 2:27 pm
We could use the different calibers as coinage. .22 could be like the nickle, 223 could be a quarter.. You get the drift? A 50 cal could be the 1000 note.
Raging Moe Reply:
March 18th, 2009 at 5:25 am
Let’s hire police to arrest the ones using George Washington Dollars and let’s hire judges and jailers to lock up all the sundry influx of uniforms…….
me too Reply:
March 18th, 2009 at 10:03 am
Actually, I’m getting a little lost.
Maybe we should copy the “Big Boys” and back them with
SDRs – in other words, nothing.
~Lemme know what you think.~
March 17th, 2009 at 12:26 pm
GONNA GIVE US SOME MONOPLY MONEY!
March 17th, 2009 at 2:19 pm
This is the Paul Dundes Wolfowitz plan for the World Bank;
AIPAC is at it again -
March 17th, 2009 at 2:32 pm
We don’t need more loans we need decent jobs. Why do these idiots not see this? Why do they think the AmeriKans can borrow our way out of this when we are already tapped? The only thing I see is to loosen the chapter 7 bankruptcy laws so we can file every year and have 0 accountability to obtain a loan. Looks like the Chinese plastic is going to stay on the shelves for sometime yet until someone with HALF A FVKIN brain does a little thinking.
Raging Moe Reply:
March 18th, 2009 at 5:35 am
They do see it, and they don’t give a damn. It is a dog & pony show. Clean your rifles.
me too Reply:
March 18th, 2009 at 7:28 am
About this Money, Special Drawing Rights (from Jim Sinclair)::
“I had the privilege of writing the speech many years ago when SDRs were first introduced. The same problem with SDRs then is the same problem now – they are backed by nothing. SDRs are nothing more than pure paper and are incapable of offsetting the fear of such paper”
How dumb do they think we are? Verrryyyyyyy dumb!
March 17th, 2009 at 6:35 pm
Yes, I’m going to printing up money TOO! SO everybody line up!
Thank you, er I mean you’re welcome!
March 17th, 2009 at 6:37 pm
Wow, they all look so happy. They’re going to get their fix from the printing press.
March 17th, 2009 at 6:51 pm
What gets me is that these people do not even try to hide the fact that they know perfectly well that what they have been doing has been debasing currencies around the world by printing fiat funny money. They do it anyway despite the fact it will eventually make currencies worthless.
These people need to be in jail.
Raging Moe Reply:
March 18th, 2009 at 5:53 am
Get with the game. Get rid of your dollars. Sugar, liquor, gasoline (at 2.00/gal) gold, stocks, food. Stuff that you can save, that doesn’t perish, that you can resell. Use the inflated dollar as a transitionary vehicle from now on. Barter or, if you have to, sell a little gold for 10000 ‘new’ dollars, then immediately buy something else. Put your kid’s clothes you bought last year on Craigslist, back on Craigslist. Park your new dollars into something else (more sugar, honey, gold, liquor. Get it?
March 17th, 2009 at 7:54 pm
Will these be the same old run of the mill money, or will it be the nice new nau money.
March 18th, 2009 at 1:40 am
WHO IS THE KING OF TEXAS
I will show myself on April 22 in Waco Texas at the massacre site. I am calling as many Christians of this nation who can find the time to come and see what it is that you don’t even know that you want.
I have the answers for the Christians who have never been defended by their government but have rather been oppressed by their so called government of freedom.
I also have the answers to the current generated economic crisis. This is a peaceful gathering for YHWH our God. But you might want to bring a firearm just in case. After all let us not forget what they did to us in Waco. MAY OUR LORD JESUS BE WITH YOU FRIEND.
I realize it is off topic please forgive me.
March 18th, 2009 at 5:33 am
Get rid of your dollars. Sugar, liquor, gasoline (at 2.00/gal) gold, stocks, food. Use the inflated dollar as a transitionary vehicle from now on. Barter or, if you have to, sell gold for 10000 ‘new’ dollars, then immediately buy something else. Park your new dollars into something else (more sugar, honey, gold, liquor. Get it?
me too Reply:
March 18th, 2009 at 7:36 am
Just what I think.
March 18th, 2009 at 7:07 am
Burning the Field by Marc F. Brocato 2006
The American Cash Cow – ALL BULLS OUT.
Back in the old days, before fencing had subdivided and cordoned off the once opened areas of land throughout the south, the farmers and cattlemen of the day would burn off the fields and woodlands. During the summer, vegetation in the forms of grasses, briars, and various shrubs would grow in the open fields and meadows. These plants were a source of nutrition for livestock and a major food supply for the herds which where allowed to roam freely. In the fall of the year, winter would set in and the summer growth cycle would end. With the onset of cold winter weather, the grasses and other vegetation would die, leaving the landscape lifeless and brown. The purpose of burning the woods were twofold. First, the fire had a cleansing effect by clearing the ground of useless and unwanted debris. Secondly, nutrients where returned to the soil, making them available for the next succession of growth. One could look north and south, east and west, and see the numerous columns of smoke rising into the sky.
The yearly roundup took place in the fall, at which time the cattle were gathered together. The ranchers collected their ( cash ) cows, some were sold at auction and others where put in places of safe keeping (Euro’s, Swiss franks, Yen, and gold…. ). Not until all the cattle where herded together and relocated were the fields and woods set on fire. This was the economic cycle that reoccurred year after year, a necessary evil of the day and was eventually outlawed.. Thousands of independent ranchers would be replaced by the large cooperate cattle companies. And so it is with food and many other good and services today, from the hands of the thousands who established the market, whatever that market might be, into the hands of the few who now control it. But that’s not the end of this story, it’s far from over. Apply these same principles and methods to the national and global economy. It appears as if the industrialists and financiers who control the economies of the world have been moving their cash cows out of the U.S. .for a long time in advance of a controlled burn or just maybe wildfire. The crash of the ‘30’s was such an action, however, every major market on the face of the earth will be effected this go round. A well planned choreography of events will reshape the global economy in ways which the average individual cannot comprehend. When the fires are out and the smoke clears, the result will be an empty shell of a country, with an economic landscape barren and ready for the next season of growth.
Enjoy your freedom and rights, savor them as you would your favorite meal. Life in the United States and the entire civilized world shall soon go through quiet a transition. Similar circumstances have overtaken unsuspecting populations in the past, but never the entire world, as it will this time. What shall be used as the form of ignition? Will it be a manipulated economic disaster, or some fabricated terrorist act. Perhaps a bonafide and unexpected act of God that was not a part of man’s planning. Maybe those in Washington will legislate the country out of existence by executive order, it’s amusing to think a thing like that is possible. Imagine, a economic system with no exchange rate, a global unit of currency. One currency and one governing authority.
The surest way to prevent seditions is to take away the matter of them; for if there be fuel prepared, it is hard to tell whence the spark shall come that shall set it on fire. – Bacon.
March 18th, 2009 at 9:34 am
Check this news article out !!!Interesting!
The Zionist bankers, our gnomes of Zurich
Gnomes of Zurich is a disparaging term for Swiss bankers. Swiss bankers are generally associated with highly secret policies, while gnomes in fairy tales live underground, in secret, with their wealth. Zurich is the commercial center of Switzerland and the promised land of Zionist bankers….
http://911truth-sherbrooke.org.....of-zurich/
March 18th, 2009 at 10:52 am
If this is done, it will merely roll over the present mounds of worthless derivative paper into an even more worthless derivative paper!
More sleight or hand by worldwide charlatans.
March 18th, 2009 at 1:09 pm
I got the answer to my question—Its the global currency. Thanx aj. global bank/money, global law, global religion, global government, global tracking, global medicine, global food.
March 18th, 2009 at 8:18 pm
It’s really Hell there is one square mile called the City of London there is 10 square miles called the City of Washington and .17 square miles called Vatican City and that’s where all the rules of commerce apply. Payment into a pension plan is prima facia evidence of employee status and a zip code is a Washington D.C. address and the District of Columbia is NOT apart of the Republic of the United States so were do you stand? Slavery is a Voluntary economic institution you get the benefits and privileges of slavery; a pension. You have to stand in the Republic of the United States to have Unlienable rights one nation under God, to have Freedom and Justice for all.
Freedom
“Exemption or release from slavery or imprisonment” (lit. & fig.)
THE NEW SHORTER OXFORD ENGLISH DICTIONARY, 1993.
“The state of being free or liberated”
Black’s Law Dictionary, Eight Edition, 2004.
“The state or condition of being free”
World Book Dictionary, 1984.
See Liberty-”Primarily, the state of those who are not slaves”
The Interpreter’s Dictionary of the Bible, 1962.
March 18th, 2009 at 9:08 pm
Oh did I forget to mention the law society conciters prison a benefit privilege.
The Supreme court has ruled
Politicians don’t have to keep their promises
Law enforcement officers can lie
statements of council in arguments and brief are not facts before the court and are not sufficient for summery judgment or dismissal
You are only allowed to speak to a judge, and you are the only creadable witness in the court the lawyer was not there everything they say is hearsay evidence AT BEST.
It’s against the law to talk to a lawyer, it’s against the law to associate with a lawyer, it’s against the law to associate with anyone who associate with a lawyer under the penalty of death.
A lawyer can only talk to Mickey Mouse, Donald Duck or Daffy Duck so they hood wink everyone to wearing a costume now you Goofy and you can speak to me.
A lawyer can only Read and write they are not allowed to speak except to Her Majesty Queen Elizabeth
A man or woman can write and read if you read what you write you know what it means.
The original sin they teach you to read and write instead of writing and reading because you have to be able to think for yourself to write.
March 19th, 2009 at 12:26 am
How the Federal Reserve is Audited
All Federal Reserve Banks and branches are audited and examined regularly. The scope and frequency of audits are based on the specific risk factors in each Bank’s operations.
Internal audits involve verification of assets, liabilities, and items held in custody.
Auditors evaluate the adequacy of internal controls and compliance with prescribed procedures. Major automated systems also are checked for security and effectiveness.
Periodic Reviews and Examinations
All Federal Reserve Banks and branches, like commercial depository institutions, are audited and examined regularly.
Internal audits are conducted by a permanent audit staff at each Reserve Bank. Each audit staff is headed by a general auditor who reports directly to the Bank’s board of directors. In addition, a private CPA firm conducts an annual examination of each Reserve Bank and its branches on behalf of the Federal Reserve Board. External audits were instituted in recent years in place of annual examinations by the Board of Governors to ensure total independence in this process.
Operations at each Federal Reserve Bank also are subject to review by the Government Accountability Office (GAO), the audit arm of the U.S. Congress. However, GAO auditors are restricted by law from reviewing monetary policy operations and transactions carried out by the Federal Reserve on behalf of foreign central banks. This restriction was imposed by Congress to assure the independence of the Federal Reserve from political influence.
The Scope of Audits
The scope and frequency of audits are based on the specific risk factors inherent in each Bank’s operations, including the nature of the activities it conducts, the prevailing level of controls surrounding these activities, and the quality and experience of the individuals assigned to the operation.
Internal audits at each Reserve Bank involve verification of assets, liabilities, and items held in custody. Auditors check both the physical presence of these items and the timely and accurate reporting of their movement. An evaluation of the adequacy of controls throughout the Bank and of compliance with prescribed procedures also is done. Audits are performed periodically in order to determine if the auditors’ perceptions of prevailing risk levels and operating conditions since the last review remain valid. Periodic audits also help to determine whether previously identified problems and issues were adequately addressed and remedied, and to ascertain whether new problems or issues have emerged.
Although auditing procedures differ among the 12 Reserve Banks, their emphases are broadly similar. At the Federal Reserve Bank of New York, the audit staff reviews the cash, check, fiscal, electronic payments, and accounting areas, and all of the service and professional operations (which include legal, bank supervision and regulation, and research and statistics). It also audits centralized electronic data processing operations and automated systems under development. These audits consist of reviews of the Bank’s data centers, with primary emphasis on environmental software products, including data base systems, operating systems, and data communications systems. Auditors evaluate the strength of internal controls and security of each software product, as well as the procedures and controls put in place by the organizational unit responsible for it. An auditor at the Buffalo Branch reviews activities there.
Audits of automated systems under development similarly concentrate on the adequacy of controls and security. These audits are intended to ensure that appropriate checks and balances are in place for each automated processing operation. Audit teams check the accuracy of records pertaining to transactions that flow through the system and certify that systems under development are fully and adequately tested before being placed into production.
Together with two other departments of the Bank, the audit staff controls activities in the Bank’s gold vault, which stores about one-quarter of the world’s official gold reserves. Auditors monitor all gold transactions, both deposits and withdrawals, and independently verify accounting records and balances pertaining to gold held in custody by the Bank.
Internal Patriot Reply:
March 19th, 2009 at 10:01 am
CRISPUS ATTUCKS – Excellent insight. Sounds like you are ready or already have taken possession of the commercial YOU they happen to be working with on their books. On the asset side of the books and on the liability side of the books. There’s more to this game than just the Federal Reserve. There’s the Treasury, the US Corp, the Federal Reserve, all separate corporations, which are all tied through the IMF, which is a fund. A fund backed by some very valuable and secured commercial paper, left abandoned for the taking.
Some obligations aren’t structured to last for eternity. People are used to using the tools of a previous obligation and don’t like to change that which is comfortable. They aren’t looking at the instruments they are using and understanding what they mean, generally exactly what is written on them – NOTE, evidence of debt. As the books close on one chapter, those that don’t claim what’s rightfully theirs will stand on the sidelines wondering how they didn’t see. Debt is a horrible disease of the mind that either people choose to change it or they choose to stay owing others what’s their in the first place.
Debt note-for dollar exchange will close this deal. Read the agreements and share what you know. Changing how your mind is wrapping around these current events will change the course of events without blood shed. Study the players and study the game without hate or judgement in your minds and hearts and the answers will arrive just in the nick of time. Guaranteed.