* * *
On a baking hot day in July 2015 Greece’s radical-Left Syriza government won a spectacular mandate to defy the austerity regime of the EU-IMF Troika.
Against all expectations, 61pc of the Greek people voted in a referendum to reject the Carthaginian terms of their latest bail-out deal, a scorched-earth ‘Memorandum’ described by a young French economy minister named Emmanuel Macron as a “modern day version of the Versailles Treaty”.
It seemed as if the long-running showdown between Athens and the EU authorities had reached an explosive juncture. Markets were braced for the ejection of Greece from the euro in short order. Monetary union was on the verge of break-up.
H/t reader sqoudgy:
“Yes, Greece was definitely raped by the Deep State banksters and global corporatists mainly based in EU.
But what does that mean for Italy, Spain, Portugal, Ireland and UK, all bankrupt and rapidly approaching Stage 1 that Greece reached 5 years ago?”
* * *
Austerity is over as governments across the rich world increased spending last year and plan to keep their wallets open for the foreseeable future.
Source: Armstrong Economics
The International Monetary Fund (IMF) in Washington has published a Working Paper on “de-cashing” the economies and the implications. This paper clearly demonstrates that this is the direction we are headed into. It provides advice to governments who want to join in the latest thing – abolishing cash. IMF-Analyst Alexei Kireyev recommends in his conclusions:
And she certainly did not make the mistake to feed the homeless:
Always good to have friends in high places, especially if they are from the Rothschild dynasty…
666, how appropriate…
… and …
“This should help calm all that they’re-only-in-it-for-themselves, anti-establishment feeling out there,” quipped Globe and Mail senior international correspondent Mark MacKinnon about the verdict against Lagarde.
(COMMONDREAMS) Christine Lagarde, head of the International Monetary Fund (IMF), on Monday was found guilty of “negligence” for approving a massive government payout to business tycoon Bernard Tapie during her tenure as French finance minister.
“This should help calm all that they’re-only-in-it-for-themselves, anti-establishment feeling out there,” quippedGlobe and Mail senior international correspondent Mark MacKinnon in response to the latest charge of government corruption.
Once in while, a feel good story comes around. As we covered in our recent episode of ON THE QT @21WIRE.TV, the thought of IMF head Christine Lagarde facing trial over her $440 million pay-off to elite insider Bernard Tapie – is certain to bring a smile to many. For years, the public have had to endure watching globalist elites swooning around their jet-set circuit. From Aspen, to Wall Street, to the World Economic Forum in Davos, they pontificate about ‘economics’, and alongside their pop culture mascots like Bono from U2 seated comfortably in their Gulfstream Jets. They claim to be peddling “solutions’ and that they are somehow saving the world’s poor from abject poverty.
However, Lagarde isn’t the first international bankster luminary to be led into the dock. No sooner did previous IMF head Dominique Straus-Khanannounce during a speech the “risks for the global economy” calling for a new approach to economic policymaking, Straus-Khan was swiftly brought down after being accused of raping an NYC hotel maid. Later, he was dragged over the media coals for his membership to a elite VIP ‘sex party’ ring.
Is Lagarde involved in high level corruption, or is she being decommissioned for another reason? Or is it both?
International Monetary Find (IMF) chief Christine Lagarde will stand trial for her role in a €400 million ($440 million) payout as French finance minister in 2008 to businessman Bernard Tapie from December 12, a French court said on Monday.
The name Rothschild is literally associated with wealth. This is because for over 200 years, the family has remained the most powerful and wealthy family in the world. Most of the Rothschild fortune has been made in the world of banking, but investments in other industries, such as coal, estates, and construction, have helped secure the family’s wealth and immense power.
One of the banks owned by the Rothschild group (the biggest banking group in the world) is the International Monetary Fund (IMF), AKA ’Imposing Misery and Famine’. Not only does the group make money off usurious interest rates at the misfortune of crumbling economies, it literally owns governments and people of power. Because it’s nearly impossible to escape the clutches of the banking group, news of IMF being booted from Hungary is being heralded as a victorious happening.
H/t reader squodgy:
“The extent of the hypocrisy and total dismissal of wealth distribution for the masses is cringeworthy.
If we hadn’t concluded banks and bankers are nothing more than criminals in pinstripes, we have no excuse now.”
You cannot fund terrorists without cash
The IMF released back in June 2016 a document discussing the global scourge known as drug money laundering and the financing of terrorist organizations. We have discussed both of these situations and as one might suspect they are tied at the hip and the same banking cabal has been “fined” in a court of law for both of these offenses. If the IMF, the UN or any government around the world gave two cents about either of these operations ending there would be people either in prison or in front of a firing squad for treason.
The soft sell the IMF is peddling is classic propaganda and misdirection.
Hungary has announced plans to repay its bailout loan from the International Monetary Fund early and asked the organization to leave the country.
The head of Hungary’s Central Bank Gyorgy Matolcsy wrote a letter to IMF Managing Director Christine Lagarde on Monday asking for it to close its representative office in Budapest as it was “not necessary to maintain” it any longer.
The IMF says it is ready to agree since the current IMF representative in Hungary is due to leave soon anyway.
Real Vision TV’s Grant Williams offers a true look into what is known as an absurd debt level and unimaginable central bank manipulation. Less than a week ago we highlighted Grant’s comments on commodities. Although the information contained in the video below is nothing new to Zero Hedge, we do enjoy the way the information is presented. Set aside some time to listen as Grant tells a story about debt and the current investment landscape.
Grant sees people “with more power than you can possibly imagine” as the ones responsible for experimental economics that led the world down a path of self destruction.
“I don’t think there is any argument about whether or not the central bankers of the world should have done something in 2008. The question is ‘should they still be doing it 8 years later‘?”
We recommend viewing the entire clip
* * *
* * *
“When a country embarks on deficit financing (Obamanomics) and inflationism (Quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul
“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul
“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan
“Capital must protect itself in every way… Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.”
– J. P. Morgan
“We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the FED. They are not government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers.”
– Louis McFadden
“It was not accidental [the 1929 stock-market “crash”]. It was a carefully contrived occurrence. … The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.”
– Louis McFadden
“What good fortune for governments that the people do not think.”
– Adolf Hitler
Over three years ago we wrote “At $72.8 Trillion, Presenting The Bank With The Biggest Derivative Exposure In The World” in which we introduced a bank few until then had imagined was the riskiest in the world.
As we explained then “the bank with the single largest derivative exposure is not located in the US at all, but in the heart of Europe, and its name, as some may have guessed by now, is Deutsche Bank. The amount in question? €55,605,039,000,000. Which, converted into USD at the current EURUSD exchange rate amounts to $72,842,601,090,000…. Or roughly $2 trillion more than JPMorgan’s.”
WASHINGTON (Sputnik) — The US dollar has been overvalued by up to 20 percent, the International Monetary Fund (IMF) said in a report on Wednesday.
“At today’s levels of the real effective exchange rate, the current account deficit is expected to rise above 4 percent of GDP by 2020, pointing to the US dollar being overvalued by 10-20 percent,” the IMF stated.
For those confused as to whether or not Abenomics was working, all one has to do is glance at the recent export data released by the Ministry of Finance for confirmation that it’s been a complete disaster.
Japan’s exports fell 11.3% in May on a y/y basis, the eighth consecutive month that exports have fallen according to Bloomberg. Exports to the US fell 10.7% from a year earlier, and exports to China, Japan’s largest trading partner plummeted 14.9% y/y.
Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.
Having successfully used the EU to conquer the Greek people by turning the Greek “leftwing” government into a pawn of Germany’s banks, Germany now finds the IMF in the way of its plan to loot Greece into oblivion.
The IMF’s rules prevent the organization from lending to countries that cannot repay the loan. The IMF has concluded on the basis of facts and analysis that Greece cannot repay. Therefore, the IMF is unwilling to lend Greece the money with which to repay the private banks.
It’s showdown time.
The IMF has threatened it will pull out of the Greek bailout program unless Greece gets debt relief.
German Chancellor Angela Merkel, Austria, Finland, and the other Eurozone creditors will not like today’s development one bit.
We live in strange economic times, stranger perhaps than at any other point in history. Since 2007-2008, the globally intertwined and dependent fiscal system has suffered considerable declines in every conceivable area. Manufacturing around the world is in a slump, from Japan to China to Europe, with the minimal manufacturing accomplished in the U.S. also fading. Consumption is falling, most notably in petroleum and raw materials. Employment is truly dismal, with the U.S. posting over 94 million people as “non-participants” in the national work force.