Britain to seek IMF funds

From my contacts in the media, and a few in Westminster, it is believed that senior ministers are "sugar coating" a British IMF rescue. Since the G-20, significant members of the cabinet have told the media that "there would be no problem" for Britain to ask for IMF finance.

Not only is the notion being considered, rumours persist the British government is already in contact with the IMF. 23rd April is when the budget is presented to Parliament and significant public spending cuts will be implemented - at the request of the IMF.

According to my Westminster source, the UK is not bankrupt but will need IMF assistance to reduce a budget deficit of 10%

The reason for the increase of IMF resources by the G-20 is because the UK bailout will be between £40 - 60 billion - biggest financial assistance by the IMF. European Union aid will be offered too.

Well until it happens there's really nothing to say - unfortunately I don't know your media/government contacts so neither I nor anyone else can agree nor refute what you say.

HAHAHAHA. The UK will be under IMF control. Well, you can thank your treasonous prime minister and the whole goddamn ``royal family``. IF the Uk was a democracy before, it'll be over because the IMF will rule your country. And they aren't elected.

When you receive 1$ from the IMF, they own you. You sign a contract. We'll probably all sign our sovergnity to the IMF....

Remember that in Bolivia, they privatised water, and hired thugs to beat up those who gather water from rain because they were too poor to buy water.

So... do you still want a global government and more power to the IMF?

[edit on 4-4-2009 by Vitchilo]

I know.

The IMF will want spending cuts, tax raises and most likely Euro membership so we do not go begging again.

Seems like your sources are right. I found this article on the web.
Britian Heading For The IMF

The supposed $1.1 trillion G20 package for the IMF contains $250 billion of what are termed "special drawing rights". They were originally imagined to be for poor countries in a crisis, but a softening up operation has been launched so that Britain, and even America, can make use of the money if it is needed. Think of it as a giant extra credit card they can use if things get really tight. If for example the markets won't buy up government debt - as happened recently in Britain

Cant imagine America drawing from the 1.1 trillion, if they do this is way worse then I originally thought.

Well, at least look on the bright side. If Britain becomes poor again it will produce great music again. Music with character and not the pathetic crap that they distribute around the world, particularly Asia, such as Atomic Kitten, Westlife, Blue, Geri Haliwell, etc.

Infinite - I've got to hand it to you, this news is BIG.

I was just mulling over starting a new topic titled something like "What would you say are the chances the G20's $1,100,000,000,000 will actually end up in the hands of the governments of developing countries in keeping with the official press releases, as opposed to in their own coffers?"

You can fool some of the people some of the time...

...Except many people are now fully awake.



reply to post by tide88


GREAT link. And well worth a read. (Only takes a minute, folks.)

Cant imagine America drawing from the 1.1 trillion...

I can.

...if they do this is way worse then I originally thought.

Unfortunately it's way worse than anyone thinks.

And don't forget drawing on these funds means more debt.

Anyone think the PTB are too wise and/or too philanthropic to take this money for their own use?

Boy, oh boy...

:bnghd:

I just realised how this whole IMF thing was insanely brillant from a criminal point of view....

The UK government gives money and power to the IMF saying that they will help poor people. People love it/accept it. The IMF gives back the money and the country is now owned by private corporations! HAHAHAHAHAHA

Let's see.

You pay 100$. They loan you back your 100$ but with interest, so you're -200$ + interest on the second 100$ and you no longer control your country.

This is SO CRIMINAL, it's GENIUS.

[edit on 4-4-2009 by Vitchilo]

reply to post by Vitchilo

This is SO CRIMINAL, it's GENIUS.

It is isn't it???

Like the Fed on steroids...

From the first cent ya borrow at interest...yer scroomed...

The only way to pay interest is to borrow from the source...

Lather...wash...rinse...repeat...


[edit on 4/4/2009 by Hx3_1963]

But it is all based on good faith (fiat).
That's why Gordon was so happy, like a child, shouting about yard.
They have finally found Zero Point Field - a free source of energy, er... free energy source... energy free source... whatever

Originally posted by Essan
Well until it happens there's really nothing to say - unfortunately I don't know your media/government contacts so neither I nor anyone else can agree nor refute what you say.

All I can say in my defence is that I broke the British recapitalisation program on ATS - three days before it was announced in Parliament.

I suggest infinite has earned the benefit of the doubt. This deserves to be flagged a lot more than to date. Unfortunately months of bad news has meant we have (understandably) become a little numb to the enormity of breaking economic news like this.

But the implications are huge.

I think most on ATS here have known that the UK is pretty much bankrupt. This is not good news at all for my brothers and if we here in the US take a loan you know the Shiite is deep.

To me, this raises an even bigger question:

What is the IMF about to become?

If the British government view at, as the metaphor describes, "taking money out of the bank" will the IMF become a de facto world central bank?

reply to post by infinite

What is the IMF about to become?

If the British government view at, as the metaphor describes, "taking money out of the bank" will the IMF become a de facto world central bank?

That's the kind of question that should be being raised in the UK parliament. And not just on the back of this one particular (albeit huge) news item.

Take this from 2:08 to see what I mean:





...Or will parliament just roll over and ask for its tummy to be scratched?

Just where are the great parliamentarians these days who can perceive and ask the big questions?

The size and number of astronomical promissory notes and complicated loan guarantees passed around in just the last few months indicates something to us all.

It's all more double talk and paper shuffling escalated to an insane level.

Much is being said and done to deflect from the primary concerns. Apart from dozens of totally dead economies in the Third World, the US, UK, many Western countries have no way of supporting debt that has to be serviced or defaulted. The US is technically bankrupt, ditto the UK, Germany, Russia, and the list goes on and on.

By having the world reserve currency, the US dollar, the inevitable is has been forestalled by printing more paper. But that has it's own longer term downside - hyperinflation.

No one can say with certainty how all this will play out. Do places like China and Saudi Arabia receive tangible assets as partial repayment when they demand to pull their purchase of US Treasury Bills? With the Triple A ratings no one ever asked questions like what was their what was the collateral.



Mike



[edit on 6-4-2009 by mmiichael]

news.bbc.co.uk...

UK deficit is much worse

Originally posted by infinite
To me, this raises an even bigger question:

What is the IMF about to become?

If the British government view at, as the metaphor describes, "taking money out of the bank" will the IMF become a de facto world central bank?

Surely the IMF will be what it has always been.

And it's not as though the UK hasn't borrowed money from the IMF before!