Time to Cut IMF's Credit, End Europe's Bailouts

story from Breitbart
by Rep. Cathy McMorris Rodgers (R-WA)

Time to Cut IMF's Credit, End Europe's Bailouts
This article was written by a U.S. Representative, Rep. Cathy McMorris Rodgers (R-WA)

One interesting point is that the U.S. Government is involved in "credit" lines extended to the International Monetary Fund.

They are the ones who loan money to governments and whatnot.

Many people are not aware of just how deeply involved the U.S. is when it comes to the current European Union financial structure and their problems.

That must mean the U.S. could be on the hook for E.U. bailout failures ??

Read the entire article

Like a bad soap opera, the European debt crisis never wants to end, and it’s likely to enter a worse phase when Greece holds its next election on June 17. With less than two weeks to go, the outcome seems preordained: the major Greek parties want to end the bailouts and the conditions that come with them.

That’s why the next few weeks are so crucial: Instead of waiting on the inevitable, the European Union, the International Monetary Fund, and the Obama Administration – which provided a $100 billion line of credit to the IMF, which is being used for the bailouts – should rethink their “Bailout Universe” strategy. That strategy has failed, and a new one is needed.

The failure is easy to see: while Greece, Ireland, and Portugal have secured over $500 billion in bailout money over the last two years, their debt burden continues to grow. Meanwhile, Spain and Italy face a similar crisis because of too much spending and borrowing. Nearly one-third of the bailout money comes from the IMF, and the largest contributor to the IMF is the U.S. The Obama Administration has quietly endorsed these bailouts because they believe that while the bailouts are costly, by enforcing “austerity” on Europe, they will also solve the problem.

related link to the IMF --> IMF Standing Borrowing Arrangements

this can't be sustainable

what happens when everybody is in more debt than they can pay ?

hyper inflation ? WWIII ?

the usuall bankers are up to their chinny chin chins in the debacle
THEY NEED THE BAILOUTS so they can buy upop their victims at firesale prices I beleive cart blanche is in the works..Geithner wants to use his "template" in europe
video.foxbusiness.com...
deposit insurance sure enough it will transfere the banker collapse to the tax payers who fund the insurance

Originally posted by Danbones

deposit insurance sure enough it will transfere the banker collapse to the tax payers who fund the insurance

DING DING DING... we have a winner!

The whole "bailout scheme" boils down to a massive syphoning of wealth from the tax-paying citizenry to private, para-national financial institutions.

When given the chance to express their opinion, citizens overwhelmingly want no part of them... of course, this leads to the replacement of elected officials by financial insider technocrats. Democracy, it would seem, is only tolerated if "the people" go along with the wealth transfer scam.

On the bright side, it seems that more and more people are catching on and popular pressure against these policies is growing... looks like we might be in for an interesting summer!

the Billmeister

Originally posted by syrinx high priest
this can't be sustainable

what happens when everybody is in more debt than they can pay ?

hyper inflation ? WWIII ?

think of it this way, a family has more spats about money than anything else. When you have to pay your debt and your short of fundage, the stress level goes up 10 fold causing conflict as both parties (spouces) cannot agree how to spend what little they have, and what they can do without.

In which case, all hell breaks loose and most of these relationships if not strongly bound by love, wind up in divorce...sometimes that divorce is often nasty.

So yes, WWIII isnt a stretch in this case.

Thank gawd i got a jerry curl, a parrot, and a good woman to hold me bayonet......

Originally posted by syrinx high priest
this can't be sustainable

what happens when everybody is in more debt than they can pay ?

hyper inflation ? WWIII ?

The result is more Centralized power. The IMF uses debt as a control mechanism. It is no different than the shady neighborhood loan-shark that offers to help you out, but they don't really intend to help. It's an excuse for them to lay claim to everything you own and to harass you without mercy.

The IMF offers to hold your hand as you cross the street, but they never intend to let go once you reach the other side.