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Seems the recent issues with the IMF and ECB are so far with countries that have something they might want to gain or retain control over (ie: natural resources).
It's easy to be lured into posting a blow by blow account of things, which is not my intention but I'm finding things quite interesting at this juncture.
I appreciate these links are from UK main media, which some need to be taken with a pinch of salt, but those not from the UK may find them of interest.
This is, imo, a Paulson moment.
If we recall the summoning to a boardroom to announce the collapse of the world unless Congress approved $700Billion by Monday morning, except now we have the Director and Managing Director of the IMF playing the Paulson role.
Who elected these people ?
And who really gained from all that...?
(Btw Managing Director and Director are interesting titles!)
It appears to have gone unnoticed that focus has been shifted from what were bank failures to a necessity to cut governments deficits.
Correct me if I'm mistaken here, but aren't the deficits a result of the banks failures because banks have now made governments responsible for their (the banks) debts by bailing them out!
The IMF mostly "funded" dictator states (John Pilger documentaries explain very well).
Lately we see how the IMF considers "democracies" a more secure debtor.(re: Zondors link to Hudson)
Makes we wonder if all these "spring uprisings" aren't asking for exactly what the banks want them to have !
I digress.
My point was to consider how easily our focus has been shifted.
Some interesting comments in this link from this weekends press: "The difference in opinions over the Greek debt crisis between Angela Merkel and Nicolas Sarkozy may well be explained by the fact the French banking system is at more immediate risk from any meltdown than its German counterpart."
No say, really!!
But do they explain WHY !
And China ...?! "Beijing weighed in with a promise of help.It said it had a vital interest in countries across Europe overcoming their debt woes and was increasing its holdings of euro debt, but gave no figures or time frame."
So the US and EU are being "warned" by the IMF to do what exactly ?
Impose austerity on your population so you can meet the interest payments on the loans the IMF made (out of thin air) to you so you could bail out the banks for losing money (they created out of thin air).
Or what ?
They pull the plug on banking per say for the markets and the man on the street.
No cash machines working, no funds clearing etc..etc..
The world will fall in, in other words which, I agree would not be pretty, for a time, but what we appear to be in is a process of wealth transference of a scale never before seen.
It seems like blackmail in short and a little arrogant.
In a "global" world it's difficult to take on board so many things from so many places.
Thanks for the William Black link Tarkus 11.
He did a good presentation on rating agencies role:
My frustration is at the obvious extent of the malfeasance, the lack of accountability, but more so at how
easily the populace from where I'm from at least, is taken in by the divergence and spin.
Its a though they are sleep walking.
It's astounding how often I here people say things like "oh well we must all tighten our belts now".
Apologies for seeming somewhat crass.
I've been more than aware for some time of the confidence trick, for the sake of a better phrase, that we all live under.
The speed and amount of information has, it seems, created some kind of memory lapse that makes it difficult to see what is essentially the same blue print being played out over and again.
The outcome, each time, seems to be a more centralized control of fewer and fewer players.
Created crises for an intended solution with fewer a fewer alternatives.
As Janice Joplin once said "I think too much, that's why I drink.."
"Goldman Sachs Group Inc. and other owners of large metals warehouses are being scrutinized by the London Metal Exchange after being accused by users like Coca-Cola Co. of restricting the amount of metal they release to customers, inflating prices."
This would probably be labeled "conspiracy theory" if Coca-Cola Co wasn't involved.
It looks like the banks are trying to levy their own personal tax on just about everything. Seeing as how they get the government to pay for their bad gambling bets (by squeezing the citizens), I guess it's not that different an approach.
what is going on.