IMF's epic plan to conjure away debt and dethrone bankers

reply to post by sligtlyskeptical

Perhaps they mean the banks would be able to lend 100% of assets, and then use the Treasury as their "reserve" in periods of instability and such?

No I don't think so... it's just as I said. Step one is to force all banks away from fractional reserve banking and into full reserve banking. Step two is have the banks borrow reserves from the treasury, those reserve loans will have a usury (an interest fee), which will generate a profit in the same way the banks make a profit from handing out loans. Step three is to use some of that profit to pay off debt in the private sector.

But as for the rest of what you said I completely agree. Spot on.

While I more or less agree that in the long run forcing banks to only be able to lend money they actually have is a real solution, the idea that this can be done without a horrendous depression being incurred is absolutely stupid.

There is no magical fix for the debt the whole the industrialized world is in. Its as simple as this there is more debt than can be paid back - therefore many debt holders are going to be screwed. Whether you realize it or not that means everyone will be effected, either through higher taxes, no jobs, higher prices, loss of bank deposits or retirements, cutting of government programs, some way some how everyone is going to feel a LOT of pain.

Also no human on Earth can stop the US economy from failing, short of starting a war of conquest that would kill millions. We are simply too far in debt, don't believe Romney or Ryan when they say they can fix the economy - they can't and they know it. Ryan has the audacity to claim we can grow the economy 5% a year twenty years straight. We have not grown 5% two years straight since the early eighties, and never twenty straight, even when we really were a superpower. Even if we could do that which will not happen he is unwilling to make any real cuts, and without some that would still not be enough to balance our yearly budget let alone start to pay off the existing one.

We cannot dig ourselves out now, the hole is just to deep. The only fix is to go through the depression and discharge the excess debt NOTHING ELSE will work.

There is no real magic and it will not go away, prepare accordingly.

reply to post by magma

Carbon credits are yet another exchange set up by the bankers.

Once again, all money flows to Wall Street.

No thanks.

reply to post by proximo


There is no real magic and it will not go away, prepare accordingly.

well, ive had a feeling for a while now thats whats going to go down, they will wipe country debt and "to big to fail" companies world wide, then restructure the economy accordingly. my thoughts are they will basically tell people whats in the bank isnt worth jack. if you have a 100k in bank its now worth 10k or something crazy like that. what got me even more interested in that idea is that we just bought almost a billion rounds of cop killer amunition for services like "post office" "weather service" federal banks". im sorry, my mail man( oh wait, mail person for all you dorks out there) cant even get the f ing mail correct, and i want him holding a gun. ERRR WRONG! lol

reply to post by magma

Except it is bound by a contract, which is mutually binding,

labor unions and employees have contracts with employers that seem to be rather inconvenient at the present time to keep....
so well, there's an outcry to break those. And, our deposits in financial institutions are supposed to be separate from the money they invest, and well, that is down the tubes....

and then there are those rich people who walked away from multi-million dollar real estate deals when the bubble burst....strategic defaults.....

the point being, although the sanctity of contracts is preached....it seems that when they become too terribly inconvenient, many seem to have no problem ignoring them.

seems to be that a financial institution would have a contractual obligation to protect the assett that is used as collateral. and yet, I find myself wondering if their actions didn't somehow endanger the property rights of my home by not obeying the laws of the states and communities as far as recording transfers the proper way. if I am right there, then well....the financial institutions already broke the contract!!!

it's possible that the reason why fannie and freddie and the fed are buying up all these mortgage backed securities is that it's the only way they can legally foreclose, and possibly declare a property free of any debt owed to it. because at the moment, I don't think anyone knows just who owns the note to any piece of real estate unless it's paid in full, and even then, some without any debt connected have been foreclosed, or at least they attempted to foreclose on them!!!

everybody always gripes about how crappy the gov't operates....but I don't think that anyone, or any gov't agency could have made a bigger mess out of the real estate market as wall street gerus did. without a clear title, your options to sell your home are limited to owner finance, or reducing the price to that which someone can buy without the use of the loan.
maybe the gov't is the only one that can clean up this mess and restore the property values to something reasonable???

You know how it goes, consolidation,the big banks will get concessions to give them advantage
OR it wont happen its just an article to quite the masses

I just want to ad the UN/IMF are going to try and microchip YOU

For those who think there is no way out of the mess

a guy called Bill Still has the answers

google: Bill Still's Wizard of Oz Documentary

he basically says just change the fed reserve to government hands and the notes

Also jobs need to be created, like Germany does
or protect some industries if need be

of course it can all be wiped out with one stroke - one little key-stroke can get rid of all the digital money that ever existed. surprise, surprise...

what's worse than this garbage, is that this article is acting as if it's a given that the IMF is a trustworthy entity!

reply to post by soulshn


The Fed, and the IMF are despicable organizations.

What we need is a new version of the French Revolution to storm the banks, the FED and the IMF.

The closest this ever came to fruition was the recent actions of Iceland. They arrested the crooks and did a complete banking reset. Of course the people of Iceland live in the oldest Democracy on earth, and the people voted the correction into place. Want to put your money safely somewhere, I'd vote for Iceland. Of course they may not want our overly inflated money in the first place.

What a load of garbage from the Telegraph!

The IMF is the SOURCE of all debt-based takeover of countries and debt enslavement!

Like expecting a fox to guard a chicken coop. Duh!

reply to post by soulshn


Flatly, absolutely, positively NO. A Central bank - in any form (privatized or government run) is awful!
We need to abolish the Federal Reserve (a quasi-private) bank and never return to any type of Central authority in banking. This is just absolute nonsense! If you put the power of a nations currency under the Governments control, you might as well just ask them to enslave you.

It's bad enough we have a semi-national private central bank running things now - but the answer is to abolish all forms of central banking and go back to regional / community banking. There is no reason at all to have a central bank that controls the flow of money in nation.

This article is a wolf in sheeps clothing. It pretends to solve our economic woes by putting the power of the economy in the governments hands.

Now for the conspiracy side - one wonders if this is a move by the NWO / TPTB. Now that they have corrupted the government of most - if not all - modern nations, it would only make sense to move the power of your banks into those hands in order to facilitate oppression. You may be able to control the money supply, but if the Government can move in and MAKE you change (the bank) on the whim of the people - then logically you would want to put the money in control of a Government that you already control. Thus you leave no recourse for the people.

I'm telling you - putting a central bank in the hands of the Government is an extremely bad move.
Let us have our regional banks back and let THEM work together to foster the economy. We don't need no central banks!

Originally posted by TheBlackHat
yes...correct...or you could continue the current model..of living on credit... having a few boom years...then having a massive economic collapse because you couldn't pay back all the money you borrowed in the first place...

Saying borrowing is the sole cause of the boom and bust is simplistic.

STUPID needs to be added as an adjective before "borrowing" to get the true cause.

good borowing helps create productivity - eg investment in production machnery that can pay back the debt, as opposed to speculation in land/property values that is essentially gambling - despite someone saying that "real estate is the only true value" or something like that.

Borrowing to improve productivity, to employ people gainfully, and not just to gamble on the future value of something is a good thing.

Making money by gambling on the value of money - that is not productive and pretty much teh cause of every bust you've ever seen - whether it be borrowing to gamble on the value of stocks and bonds in 1920's and 1980's, or on eth value of housing and land in the 2000's.

Ditto with currency trading.

Originally posted by proximo
While I more or less agree that in the long run forcing banks to only be able to lend money they actually have is a real solution, the idea that this can be done without a horrendous depression being incurred is absolutely stupid.

There is no magical fix for the debt the whole the industrialized world is in. Its as simple as this there is more debt than can be paid back - therefore many debt holders are going to be screwed. Whether you realize it or not that means everyone will be effected, either through higher taxes, no jobs, higher prices, loss of bank deposits or retirements, cutting of government programs, some way some how everyone is going to feel a LOT of pain.

Also no human on Earth can stop the US economy from failing, short of starting a war of conquest that would kill millions. We are simply too far in debt, don't believe Romney or Ryan when they say they can fix the economy - they can't and they know it. Ryan has the audacity to claim we can grow the economy 5% a year twenty years straight. We have not grown 5% two years straight since the early eighties, and never twenty straight, even when we really were a superpower. Even if we could do that which will not happen he is unwilling to make any real cuts, and without some that would still not be enough to balance our yearly budget let alone start to pay off the existing one.

We cannot dig ourselves out now, the hole is just to deep. The only fix is to go through the depression and discharge the excess debt NOTHING ELSE will work.

There is no real magic and it will not go away, prepare accordingly.

edit on 22-10-2012 by proximo because: (no reason given)

edit on 22-10-2012 by proximo because: (no reason given)

I pretty much agree with your take on this. And do you know how I am preparing? I managed to get debt free this year! I am slowly stocking up on extra food and supplies incase a collapse does occur, but honestly I think the best thing you can do is become debt free. If it is beyond your ability to get debt free, then stock up on guns and food so when collectors come knocking during a collapse you can tell them to get lost.

reply to post by ChaoticOrder


That is the big problem while debt is nothing but fake, so is the markets loses and earnings, since Wall street is no longer an entity that does their transactions in cash but with the push of a buttom deals are done, without papel trail.

High speed trading is nothing but a scam and so are the banks none has been regulated regardless of what happen during 2008 and all the hoopla that congress pony show told the public.

Obviously more than a few people that are clueless about how our financial systems work on this thread.

The elimination of fractional banking will mean a 25 year depression due to the destruction and elimination of M1 money supply leaving only M0 money supply to conduct trade. You will be on the streets battering your chickens for heating oil. Your car will be worth $1k. Your house will be worth $10-50k. I'm actually ok with this scenario, I am heavy cash and ammo.

But it's not even a remotely viable solution. A more workable solution is the elimination of all the QE programs and a reduction of government spending coupled with increasing taxes to balance the budget, a haircut on all existing pensions, reduction of social benefits (medicare, social security, etc) and unwinding of all the bad ABS that's still stuck within the system. A 5-10 year depression and we'll be on the road to recovery.

Of course quitting is never the number one choice of a heroin addict.

it's possible that the reason why fannie and freddie and the fed are buying up all these mortgage backed securities is that it's the only way they can legally foreclose, and possibly declare a property free of any debt owed to it. because at the moment, I don't think anyone knows just who owns the note to any piece of real estate unless it's paid in full, and even then, some without any debt connected have been foreclosed, or at least they attempted to foreclose on them!!!

No, Fannie and Freddie's role is the creation of such ABS through the consolidation of quasi-government backed low interest rate mortgages. Their current role is really just to survive and not implode leaving US Taxpayers directly on the hook for billions in soured mortgages and Congress with a political cluster-F... To do this they need to continue underwriting mortgages.

The FED on the other hand is buying all sorts of ABS (MBS, CMBS, etc.) to pull really bad crap off the books of financial institutions and onto the FEDs balance sheet so these financial institutions can continue to function.

reply to post by jr429


www.csmonitor.com...

sounds to me like the banks were pawning the crap off on fannie and freddie....

and, well, kind of sounds like they were aware that it was crap that they were pawning off???

Originally posted by boncho

Originally posted by magma
So what is the outcome for somebody who has a house mortage that they will repay over the next 20 years?

Will assets be revalued to suit the plan?

I think that's a very good question. What happens to real estate and other hard asset values. And most importantly, why is this coming out of the IMF? If it's not favourable to them, why bother publishing the study results. We are talking about a private corporation after all, not a public one.

And, with the latest downturn, there has been a massive redistribution of wealth (which made the downturn seem manufactured in my opinion). How does that fit into this whole thing?

The IMF will not support anything unless it and it's stockholders are coming out on top. Very interesting indeed.

have to agree with you there, makes no sense why the IMF, AKA banksters, would cut off their hands to feed their faces.

something rotten this way comes.

something i have been thinking about is a possible manipulated crash that has been going on for a while. once the banksters realized their ponzi was coming to a close they make every attempt to push to collapse and swoop in as the new savior.

i think we need a new system but i don't think it will come in it's true form from any one involved currently in global banking.