Skip to comments.G-20 to give $1 trillion to IMF, World Bank (renounces protectionism)
Posted on 04/02/2009 8:56:40 AM PDT by NormsRevenge
LONDON Global leaders pledged an additional $1 trillion to restore credit, growth and jobs in the world economy on Thursday, exceeding expectations in their plan to deal with the financial crisis.
The Group of 20 nations also agreed to renounce protectionism and pledged $250 billion in trade finance over the next two years a key measure to help struggling developing countries, whom they promised to give a greater say in world economic affairs.
The G-20 also outlined a raft of policies to rebuild trust in the financial system, including a crackdown on tax havens and hedge funds and new rules on linking executive pay to performance.
(Excerpt) Read more at news.yahoo.com ...
U.S President Barack Obama (L) laughs with Italy's Prime Minister Silvio Berlusconi (C) and Russia's President Dmitry Medvedev as they pose for a family photograph at the G20 summit at the ExCel centre, in east London April 2, 2009. World leaders are set to declare an end to unfettered capitalism at a G20 summit on Thursday after France and Germany demanded they act fast on promises to prevent a repeat of the worst economic crisis since the 1930s. REUTERS/Stringer (BRITAIN BUSINESS POLITICS IMAGE OF THE DAY TOP PICTURE)
More of our money, which we don’t have, going to other countries. I’m sure that the young lady, trying to feed her children, trying to keep her job, make her house payments, really cares about the IMF.
What is the breakdown in dollars between each of the 20??
I can't wait to be taxed more. Thank you.
“Global leaders pledged an additional $1 trillion”
Global leaders my ass. This money is going to come from the US taxpayers. The taxpayers are already committed to trillions of dollars in future spending, now more money is being stolen from them.
FOX just said that the G20 leaders are doing a joint press conference but Obama will not be present. He has opted to HAVE HIS OWN PRESS CONFERENCE!
His arrogance knows no bounds.
How much money have we wasted on “struggling countries”?
Why don’t we just face the fact that not all countries will end up like us or other major modern countries?
NWO...I guess to ask under what authority zer0 has to do this would be a waste of time.
His goal is to lead the world. It is all about him and his leftist ego. He is one creepy dude.
That’s what I would like to know. I would bet that the One has committed to the bulk of it.
So far FOX has said that Japan & EU have both promised $100 billion each, so my guess is U.S. taxpayers are stuck with the other $800 billion.
I’m moving to the F’N moon...
$800 billion - that’s probably not far off, Kansasgirl
Can we give the IMF 1,000 Zimbabwe billion dollar notes?
Anyone that can’t survive on their own should just drop dead!
And my guess is that the US share is about 500 billion.
In short, Obama just added another half a trillion dollars to our debt.
So $1000 per US resident (assuming we ONLY pay 25-30% of total)...is anyone going to ask us? ...nevermind...
Does Congress have to vote on this kind of expenditure?
He needs his teleprompter.
World losses were recently estimated to be about $50 trillion so far, the US has pumped over $12 trillion into the mess so far, estimates of another $5 to $7 trillion yet needed by the US for forseeable default protection is in sight, AND, a measly $1 trillion to the IMF only buys a little time until another trillion is needed. Interest payment rollovers renew at monthly combinations up to a year and require continual financing. In the meanwhile, middle class wealth in the Western World has more time for transfer to other hands as their tax burdens are loaded well beyond their lifetime, their home equities evaporate, their jobs disappear. I think of Japan where families can service 200 year mortgages. Yup, $1 trillion into the IMF is only 1/8 of the $12 trillion the US alone has conjured up so far. The market ‘rally’ today, just as others recently will be short lived and a downward course will inexorably proceed. World trade continues to sink with no end in sight. The G20 was hard pressed to come up with a $1 trillion...more will be needed.
Legalized theft. Plain and simple.
its only money
LOL. Wut dat flushing sound?
They’re giving it away faster than they can print it.
The Goal: WORLD COMMUNISM. WORLD SOCIALISM.
who do these smiling bozo's think they are?
Please allow me to translate from ‘idiot-speak’ to American:
“LONDON (AP) - Prime Minister Gordon Brown says leaders at the G-20 summit have agreed to give $1 trillion to the International Monetary Fund and the World Bank to help struggling nations around the world.”
translation: Obama commits to taxing Americans to give money away to the One World Government bank
"Brown also says the 20 countries at the summit will enact common policies to crack down on tax havens, regulate hedge funds, and rebuild trust in the financial system to “prevent a crisis such as this from happening again.”
Translation: We will control OTHER countries governments as if we are the One World Government and we will impose our will to them. Oh and the ‘prevent this crisis’ comment has nothing to do with them, we just tossed it in to make it sound good when we tell the government that Swiss Banks will be raided by us.
"He says the G-20 nations will also give emerging powers a greater say in the world economy."
Translation: We will let small, third world countries make decisions (which will, not surprisingly, be what WE wanted to do in the first place to other countries)
WELCOME ONE WORLD GOVERNEMTN!!!!!!!
THAT IS WHY THEY ARE SO SMILING AND HAPPY!!!!
ALL HAIL OUR G-20 OVERLORDS!!!!!
these are said to be the 20 best economies in the world - surely they all will take a share??
The three stooges.
he is a big spender - the greatest spender of all time of tax payer’s money!!
We battled this eventual happening and lost.
Time to succumb to insanity and drop the ax.
The battle is over.
....time to LAL.
He CAN’T DO a joint press conference. It would confuse the other leaders with his infamous Teleprompter!!!!
He needs his teleprompter.
Is their going to be a group pictures in goofy local attire?
We are soooooooooooooooooooo..........
SCREWED! SCREWED! SCREWED!
Can we all have an after the moment cigarette?
Was it good for you too baby? ~snort LOL!
and even thos’ll cost ya a little more.......
Yep, here in the GAYstate aka GAYsachusetts, they’re upwards of eight bucks a pack..........
Forget the trillions. Just say "no" to sloth.
Russia and China will be net beneficiaries in this, they will receive money. The US and UK will foot most of the bill for this.
There are reasons that Russia/”Former” Soviet Union, China, Iran, Venezuela, and others are building up their militaries. They are getting ready for the aftermath of a global economic collapse.
And yet, through this IMF thing, we (The West) will be directly funding the military expansion that will be used against us in the near future.