Posted on 09/25/2011 5:08:16 PM PDT by driftdiver
The head of the IMF has warned that its $384bn (£248bn) war chest designed as an emergency bail-out fund is inadequate to deliver the scale of the support required by troubled states.
In a document distributed to the IMF steering committee at the weekend, Ms Lagarde said: "The fund's credibility, and hence effectiveness, rests on its perceived capacity to cope with worst-casescenarios. Our lending capacity of almost $400bn looks comfortable today, but pales in comparison with the potential financing needs of vulnerable countries and crisis bystanders."
(Excerpt) Read more at telegraph.co.uk ...
The Chinese don’t need to build a navy.
They can buy Europe !
No.
pretty soon the former 3rd world likes of india and china will be using college-educated europeans for domestic labor.
"Can't believe it took the IMF so long to catch on to this, ''Just ask for money and they'll give it to you scam""!"
All day on the golf course without a hat will do that.
As a crisis bystander, I am rooting for the IMF.
Sad part is, you’re probably right. Unless the economy does get screwed on right, we could start seeing illegal emigration as opposed to immgiration.
America has done enough. It’s time for these jerks to step up. They don’t want us to be the worlds pollice, just it’s bank. No more money, we can’t afford it.
No more bailouts.
Everyone cannot be saved.
It’s time for some economic triage. Cut loose those that cannot be saved and concentrate on those who can.
Obama and Bernanke will print the money to bail them out.
If it will further weaken the dollar Obama will be for it.
That would be me an you
Yet why do I have a feeling that Obama and Geithner are already reaching for our wallets? /
I have that sinking feeling too. We need to get rid of these fools...and fast.
Paging Benny and the Inkjets. Stat.
Both Republicans and Democrats are owned by the bankers!
...go to 25:00 in and listen to W. Michael Cox talking about the Europe situation....it is good.... Dr. Cox @ 25:00 min
Tomorrow will be a VERY interesting day in the markets.
But, “interesting” may not be the way most describe it when its over.
As was posted on the duplicate thread, “game, set, match”. The markets tomorrow morning will look a lot like they did on 9/15/08. And guess what? Those countries have either have a lot of US treasuries (China) and idling factories or not enough net assets to buy a month’s worth of oil (India). The world is not out of money, but the rate at which any of the money that is left is actually moving is minimal, so it works out the same.
Japan is already down 1.55% as I type, less than 2 hours into their trading day, and their exposure to europe is miniscule. The european markets are going to be blood baths and we may see the effective rate on the 10 year treasury at 1.6% tomorrow.
9/15/08 all over again.
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