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World Bank could "run out of money" within 12 months

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posted on Oct, 4 2009 @ 07:36 PM
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And the hits just keep on comin, folks...





The World Bank is close to running out of money, its president, Robert Zoellick, has disclosed.

The Bank, whose job it is to support low-income countries, has had to hand out so much cash in the wake of the financial crisis that its resources could run dry within 12 months.

“By the middle of next year we will face serious constraints,” said its president Robert Zoellick, as he launched a major campaign to persuade rich nations to pour more money into the Washington-based institution.

He conceded that such a task was likely to be extremely difficult, given the difficulties facing countries in the wake of the developed world’s biggest recession since the Second World War.



More at source:
www.telegraph.co.uk...




posted on Oct, 4 2009 @ 07:41 PM
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World Bank...you mean Bank of America? Just kidding, I know what World Bank is.

But seriously...what else is new? Or, what else can happen?

Stuff just keeps getting curiouser and curiouser.



posted on Oct, 4 2009 @ 07:48 PM
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World Bank could "run out of money" within 12 months


GOOD!



posted on Oct, 4 2009 @ 08:02 PM
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They have the 3rd largest stockpile of gold in the world and last I heard they were selling it to raise money. Might be a good idea to buy some gold when they are forced to sell and if it deflates prices significantly. It's hard to justify buying at $1000 but if the world bank is forced to sell quickly and it pushes prices to $600-800 I will be buying plenty.



posted on Oct, 4 2009 @ 08:29 PM
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Cant they just print more out of thin air like the federal reserve does??


[edit on 4-10-2009 by consciousdrum]



posted on Oct, 4 2009 @ 08:42 PM
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Originally posted by mecheng

World Bank could "run out of money" within 12 months


GOOD!


Why is that good? One word responses don't quite explain your opinion.

You're American like me, so tell me why you think this is a good thing? How does this affect us?



posted on Oct, 4 2009 @ 09:39 PM
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reply to post by BaronVonGodzilla
 


The world bank is a giant ponzi scheme that all developed nations pay into via taxes and never see much in return. It's almost impossible to tell if any developed nation actually benefits from the world bank but my guess would be no. So if it colapsed there would be less tax burden on people on developed nations. However they are now wanting China and other BRIC countries to give them more cash in exhange for more voting power and if they can convince them to do that the scheme might be able to survive for a bit longer.

Since your tax money is funding the world bank it might be a good idea to read about it and decide if it's a good idea for yourself.

en.wikipedia.org...



posted on Oct, 4 2009 @ 10:24 PM
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Excellent! Does this mean my country's debt will be forgiven/forgotten?

Thanks, Bono!



posted on Oct, 4 2009 @ 10:57 PM
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reply to post by eldard
 


No because the world bank gets money from you and lends to other countries. It's China, Japan, UK and a number of private institutions that hold US debt. If the world bank fails they will want America to print or borrow more money to bail them out. The entire situation would be a joke if it were not real.

[edit on 4-10-2009 by Jacob08]



posted on Oct, 4 2009 @ 11:05 PM
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I didn't think the world bank had any money to begin with...

Things should get interesting in the next year.



posted on Oct, 4 2009 @ 11:37 PM
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This article that surfaced on Bloomberg recently comes to mind.



Dollar Declines as Nations Mull Reserve Currency Alternatives

 

June 2 (Bloomberg) -- The dollar weakened beyond $1.43 against the euro for the first time in 2009 on bets record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency.


Another piece of the puzzle.



posted on Oct, 5 2009 @ 12:54 AM
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reply to post by Jacob08
 


I'm affraid you are mistaking the International Monetery Fund for the World Bank. The IMF has the 3rd largest stockpile and is currently liquidating assets.

Both the IMF and WB are controlled by Washington.. there really is no need for two mafias in this world, I see the WB going extinct and the IMF take over its opperations.



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