posted on Sep, 27 2011 @ 12:35 PM
In order to SOLVE the problem, you must first know WHERE the $$$ comes from.
For IMF, it came from a combination of SAVINGS from 17 nations. These are not money 'out of the blue skies'. They were the savings from the
soveriegn people of those 17 nations - tax revenues, social security, etc, excesses from their annual social expenditure meant for their own soveriegn
They are willing only to LOAN those money, so that it may earn or accrue some interest dividends, with more to spend for their sovereign people
espacially on rainy days should it come one day, as it will naturally in the course of civilisation.
It is not for the govs of that day to spend as they wish, more so to waste it on 'bailouts' of the irresponsible - banks!
Banks, despite its atrocious behaviour in the past of foreclosing properties on debts in the past, are nothing to compared to banks of today with
their VILE behaviour. In the past, loans were carefully made to ensure there are returns.
But TODAY, banks practically force anyone to take debts regardless if they are capable of paying or not, in the hope of forcing them into perpetual
debt bondage, such as happening in Greece today.
In the past, 3% annual interest for depositors were good enough and accepted by mankind. But today, banks got more ambitious, some even offering 20%,
but with small print that it depended on its performance and every cent could be wipe out. Most folks, espacially the old were not aware of such
clauses, and lost almost their lives in 2008 CDO derivative markets CREATED by banks.
Some banks went even worse. The masses trusted them to look after their monies, supposedly knew what they are doing to deposits, afterall, solid as
rock was a term coined for banks and bankers. But unfortunately, bankers used deposits frivolously to give HIGHER YIELDS on deposits - 10%/20% and
subsequently made losses for such interests are unstainable in a capitalist market and a fuzzy logic mankind where the only constant in life is
change, and not the crystal ball gazing data of statisticians or economists as the crisis of 2008 had proven.
The banks are now in trouble again, short of liquidity. They had not learnt from the 1st bailout. They hoarded up monies, played the stock market,
forced NATIONS to borrow loans even knowing full well that they could not afford to pay back, thinking that as nations, they would not be allowed to
go bankrupt. They thought wrong. The Greeks is telling them now, and are ready with pitchforks if any creditor comes into the country to place collar
shackles around their throats.
Banks are only CAPITALIST enterprises. They are not gov institutions, or elected to become bankers by soveriegn people. Profits belong to them. BUT
HELL IF DEBTS ARE TO BE SOCIALISED!!!
IMF must ensure its funds are guaranteed to give returns, or if given for charitable causes - it must meet with the approval of its owners. IMF thus
have no reason to help irresponsible bankers anymore, if the IMF leaders have any conscience left. OR, the soveriegn people from the 17 nations will
want their heads on a pike.
Let the bankers now face the wrath of depositors for their unconscionable acts when they cannot pay back guaranteed deposits. They are responsible for
their mistakes. No point bailing them out anymore, or worse will only come with a totally debt bonded mankind under the thumb of bank/corporations.