Oh Do Come On (IMF)
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-01-18 15:30
by Karl Denninger
in International
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Oh Do Come On (IMF)
 

Time to give them this:

smiley

The International Monetary Fund is proposing to raise its lending capacity by as much as $500 billion to insulate the global economy against any worsening of Europe’s debt crisis.

The Washington-based lender is aiming to increase its resources after identifying a potential need for $1 trillion in financing in coming years, an IMF spokesman said in a statement. The IMF is studying options and will not comment further until it has consulted its members, the fund said. To incorporate a cash buffer, the lender is seeking a total $600 billion.

You cannot solve a debt problem with more debt any more than you can fix a drunk with a case of whiskey.

We lock up the guy on the corner peddling a couple of joints.  If we're going to use that as our standard of conduct then Christine needs to be introduced to the greybar motel and told where to stick it -- specifically, where the sun does not shine.

There is only one way out of this mess: Governments must stop spending more than their citizens are willing to pay in taxes, and accept the temporary, albeit painful contraction back to sustainable levels of economic output that must occur.

PERIOD.

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User Info Oh Do Come On (IMF) in forum [Market-Ticker]
Fraudster
Posts: 4174
Incept: 2011-05-10
Green
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Robbing Peter to lend to Paul. That is the IMF model.


EDIT: And the US will have to borrow to give to the IMF. Great!

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"Let China sleep, for when she wakes, she will shake the world." - Napoleon Bonaparte

"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]." - Foundation & Empire by Isaac Asimov

Antone
Posts: 7663
Incept: 2008-02-03
Green
Seditionia, USSA
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The IMF is just a big tax on the prudent. And you can bet they're going to get all the "money" they want. Plenty of money left to be stolen.

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As if anything has changed:

Wir sind gefickt.
Mo
Posts: 12158
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Silver
Pa.
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They're just stealing their fair share for 2012. They don't even really try to disguise the theft anymore.

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Welcome to Pottersville
Jazen
Posts: 3417
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****cago
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this is extremely bullish, esp. after they secure the financing, use it all and then request even more financing.
/sarcasm.

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I hate our Government, but I still love America.
Widgeon
Posts: 13481
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Green
Region formerly known as the United States
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That's not sarcasm ... that's a business model. For Real.

Bshj
Posts: 347
Incept: 2007-08-07
Silver
Near Huntsville Texas - Execution Capital
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Not only "not sarcasm", the plan is cheered in the market....just look at all the stocks rallying
Docj
Posts: 998
Incept: 2009-09-10
Silver
Duck & Cover
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Fraudster wrote..
And the US will have to borrow to give to the IMF. Great!


Well, it is great - for the rent skimmers. For the rest of us, sadly the bone-jarring irony of that simple and fully accurate statement is entirely lost on most.

FWIW, I prefer "Stony Lonesome", but "Greybar Motel" works just as well.

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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
Eighty6thebs
Posts: 4183
Incept: 2007-06-26
Green
It's contained to sub-prime!
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Stocks just reacting to expected higher earnings from a debased currency.

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"Sounds to me like you guys a couple of bookies" - Billy Ray Valentine

"No I am not scared, and neither should you be!" - Iraqi Information Minister
Fraudster
Posts: 4174
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Green
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Docj, how soon until we then have to borrow some money from the IMF?

/sarc

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"Let China sleep, for when she wakes, she will shake the world." - Napoleon Bonaparte

"Circulation ceases first at the outer edges [Europe and Japan]. It will take a while yet for the decay to reach the heart [America]." - Foundation & Empire by Isaac Asimov

Trades50
Posts: 4215
Incept: 2007-10-30
Silver
Land of Tax and Spend
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And so the printing game continues.

Christine is probably used to the Hotel La Rut.

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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson

Tz
Posts: 785
Incept: 2007-09-18
Green
varies
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We lock up the guy on the corner peddling a couple of joints
That is why hips cost $100k. Organleggers. Were it the shoulder it would be humerus.

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"I am become debt, destroyer of worlds"
Mad
Posts: 19
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You know Karl you are getting a little crude in your posts lately.
Medicdan
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They're just trying to make people like us look like fools.

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Arizona & desert gardening
http://azediblegarden.com/
Bshj
Posts: 347
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Silver
Near Huntsville Texas - Execution Capital
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yes, it does seem pretty foolish to come and read every day how bad things are....the Tickers and general comments merely a snowflake in the avalanche of mainstream good economic news supported by daily stock rallies.
Steelhead23
Posts: 2042
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Green
Portland OR
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Perhaps not of significant concern to the TF forum, but the IMF is a nasty organization. If you have a soft spot for people and want to know what I mean, I suggest Naomi Klein's Shock Doctrine. Basically, among the third world, IMF runs collections for the banksters. The sick part of the 500 B is that it would be used to protect global banking from its own stupidity. These guys wear nice suits and are fluent in several languages - but they believe, truly - believe - they are the engine that makes the world go round. To hell with jail, I wish they'd all just die.

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Andyc
Posts: 333
Incept: 2010-10-24


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Whats the figure for the US's contribution to the IMF's largesse?

15 or 16%?.....or more?


Sure, spend it like we have it......and even if we don't


"They're just trying to make people like us look like fools."

Medic,

Well, they are the experts at it!!!

: )


Jmanng
Posts: 537
Incept: 2009-01-03

Boston, Massachusetts, USA
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/Rally On
Gates
Posts: 6274
Incept: 2008-01-29
Gold A True American Patriot!
Scottsdale
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16% last time I checked.
Jslique
Posts: 466
Incept: 2008-07-28
Silver
Melbourne
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Whats that about when in a hole. Stop digging. They are gonna wind the spring up so tight when it releases watch out,

Imho we should have hit the wall long ago. But with there games we still have a way to go. But when it breaks.
Flappingeagle
Posts: 1227
Incept: 2011-04-14

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Guys this is the banker's answer to everything: debt.

Can't pay back your loans, you need more debt.
Want to build a business, use debt.
Drowning in debt, well you need more debt.
You have savings? Trade it in for debt.

This is the banker way of taking over the world.

Flap

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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
Widgeon
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Quote:
They are gonna wind the spring up so tight when it releases watch out




They've got every central bank of any consequence on the entire planet acting together & coordinated either voluntarily or through coercion/threat. As long as that keeps going, they can keep kicking the can for a long long time; because "people" don't matter to these sociopaths. Some nation/cartel, etc. of actual consequence will need to step out and stop playing along ... of course, that's when the shooting starts too.

Jal
Posts: 512
Incept: 2009-03-25

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off topic
For Karl


http://www.thestar.com/article/1117793--....

TD Bank ordered to pay $67 million for its role in a $1.2 billion Ponzi scheme

A federal jury in Florida has put the TD Bank, the U.S. arm of the TD Financial Group, on the hook for $67 million (U.S.) over the role it played in a $1.2 billion Ponzi scheme.
Asimov
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Quote:
You know Karl you are getting a little crude in your posts lately.


Completely understandable frustration with the ignorance and what's worse, intentional ignorance, of so many people.

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Medicdan
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Exactly ASI.

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Arizona & desert gardening
http://azediblegarden.com/
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