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Need Money? It's just a few key strokes away.

Started by OldPoop, April 14, 2010, 01:48:50 pm

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OldPoop

If you were like me, you thought only governments and the Fed could create money at will.
Nope!
Now even the IMF (International Monetary Fund) is making up more money out of thin air.

No need to worry. Just a few key strokes on the computer and presto change-O, we have half a trillion $ to bail you out.

The IMF Executive Board approved a major expansion of the fund's borrowing arrangements to "Boost Resources for Crisis Resolution".  The IMF is announcing another increase of Special Drawing Rights [SDRs]... which equates to about US$500 billion.

(I bet that $ will come in real handy if any of the IMF Board members find themselves in need of a crisis resolution.)   

GATA consultant, James Turk says "SDRs are fiat currency, so why not conjure some of those out of thin air too, just like they are doing with dollars, pounds, euros, and all the other fiat currencies. It just shows that when there is no discipline on the process of creating currency, more new currency will continue to be created until it is eventually destroyed."

http://www.imf.org/external/np/sec/pr/2010/pr10145.htm

James, calm down.
No biggie. 
When this fiat currency fails, we'll just create a brand new improved one to take it's place.
And at a 100 to 1 exchange rate, there will be plenty of room for inflation.
We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens my act only by permission.   Ayn Rand

You get what you pay for.   You pay for zombies, you get all you want – and then some. 
Milton Friedman
"To say the government is the source of prosperity is like saying that the ticks are keeping the dog alive."  Jeff Tucker
Government attracts sociopaths the way an open bar attracts alcoholics.      Doug Casey
War - the government tells you who the bad guy is . . . . . Revolution - you figure it out for yourself.