Tag Archives: International Monetary Fund

John Ward – Crash 2 : Berlin Reverses Its Millimetre Of Movement On Eurobonds – 6 June 2012

The Earth may be turning, but the economy is at Dead Stop

‘Germany has not moved one inch towards fiscal union of any kind’ writes Ambrose Evans-Pritchard in today’s Telegraph.

And I’m afraid he’s right. Merkel is a crafty minx, and no mistake: she appeared to have buckled yesterday, but now she’s upped and said “Oooo nein, you misunderstood me”. This isn’t playing well in either Washington (where Geithner is tearing his hair out by the roots) and back in Bankfurt, where – I’m told – even Draghi looked exasperated after taking a phone-call from the Ostikanzler yesterday late afternoon. Continue reading

John Ward – Official : The Eurozone Meltdown Has Hardly Got Going, But Already It Has Wiped Out 80% Of Osborne’s Savings –

British taxpayers have pumped £11.7bn into Greece, Ireland and Portugal through the IMF, an early European rescue fund, and a bilateral loan to Ireland.

That’s £4 out of every £5 of George Osborne’s half-hearted, misguided and much delayed (not really his fault) austerity plan blown away by the hubris of a euro we warned would fail, never joined, and yet somehow now have to help bail out.

Can anyone in Britain anywhere imagine a scenario in which Merkel, Van Rompuy, Barroso and Draghi would bail out the Pound? Continue reading

Mish/ Mike Shedlock – Ponzi Financing In Greece Continues; Greek Banks Receive €18bn Transfer – 29 May 2012

Greek banks have been shut off from regular ECB liquidity operations due to lack of sufficient collateral. Today the Banks have that collateral thanks to a disbursement of funds from the EFSF which in turn will be used as collateral for more loans from the ECB.

If this makes little sense to you it is because it should not make any sense to anyone. It is another act of desperation in a long line of desperate acts. Continue reading

John Ward – Euroblown : Greece : How We All Paid €220bn To Get Deeper In Debt – How To Spend €220bn And Wind Up €20bn Worse Off – 24 May 2012

Another little dose of Greek reality. In Crete as of yesterday afternoon, prescriptions have been refused at all pharmacies unless customers pay the full price. It’s obvious really: if you raid the hospital bank accounts to pay off the bondholders, the hospitals don’t pay the pharmacies, and so the chemist charges full wack. I think under Friedmanite economics that would be called the market deciding. Continue reading

John Ward – Euroblown : New ‘Yes And No Perhaps’ Threat Form IMF To Greece: Greek Politicians Told To Ignore Electorate Or Lose Out – 8 May 2012

Image“The IMF is threatening Greece that they will stop paying bailout instalments if the new government disagrees with the future austerity measures as outlined,” an IMF official to the Dow Jones news agency said last night (writes The Greek Reporter)

According to the news agency, the creditors will wait until Greek parties form the new government, but they do not intend to change their plans. On the contrary, they call on Greeks to obey the ‘rules’ and observe the pledges. Continue reading

Lucas – Here Are A Couple Of Videos you Need To See And Hear – Eurozone, Gold And Silver And Fulford – 25 February 2012

SGT is talking to Ranting Andy Hoffman about the fall of Greece at the hands of the IMF and banksters, Silver to $50 by summer which will help to break the backs of the criminal banking cartel. (Thanks Gilian of Shiftfrequency for that : link to article) Here are following 4 videos with 2 interviews. Continue reading

John Ward – Bankers Given Explicit Timetable For Athens Default (Likely Date for Greek Timetable Default: 23rd March 2012) – 24 February 2012

A written document giving firm dates and detailed actions for a planned Greek default has been in the possession of two top Wall Street bank currency trading bosses since the second week in January. The Slog has separate but corroborative sources affirming the existence of the document, and a conviction among senior bank staff that – at least at the time – the plan represented “a timetable, not a contingency”. The plan gives a firm date of March 23rd for default to be announced after the close of business. Continue reading

Ambrose Evans-Pritchard – Germany’s Carthaginian Terms For Greece – 12 February 2012

The last time Germany needed a bail-out from world creditors, it secured better terms than shattered Greece last week.

 

Germany's Carthaginian terms for Greece

The austerity policy being forced on Greece by Germany and the eurozone cannot command democratic consent over time.

 

 

The US, Canada, Britain, France, Greece, and other signatories at the London Debt Agreement of 1953 granted Chancellor Konrad Adenauer a 50pc haircut on all German debt, worth 70pc in relief with stretched maturities. There was a five-year moratorium on interest payments. Continue reading

Common Dreams Staff – Greeks Compare Austerity To “Dictatorship” As 48 Hour Strike Begins – 11 February 2012

In the second national strike this week, Greeks walked off the job today and violence erupted in the streets of Athens as they again express their outrage to state austerity measures demanded by the “troika” – the European Central Bank (ECB), the IMF, and the EU – in a pending bailout agreement. Continue reading

Benjamin Fulford- Some Updates – 11 February 2012

(I will not post every comment appearing on Fulford’s Typepad. But interesting ones or a selection. The mayor articles I publish of course : Lucas.)

Here are two of the comments today:

1) Fulford Benjamin -From Argentina

Hi Benjamin, greetings from Argentina

I have been reading your newsletter from years. Continue reading