Ordo Ab Chao: IMF begs for $500B so they can “fix” debt with more debt

ozhouse.org

Somehow DEBT has turned into FIREPOWER. If you wanted an example of Orwellian language, look no further. As we have seen, this whole EU debt crisis is nothing more than a banker plot to take over what they don’t already totally control. Just take a look at Italy. The PM and his cabinet are unelected. They are now all banker alumni. Democracy out the window, hello bankster fascism.

theage.com.au

The International Monetary Fund said it would seek up to $US500 billion in new financial firepower as the European debt crisis increasingly threatens the global economy.

With several European countries veering on recession and Greece on the brink of default, the IMF said it lacks the resources to be the planet’s lender of last resort.

“Based on staff’s estimate of global potential financing needs of about $US1 trillion in the coming years, the Fund would aim to raise up to $US500 billion in additional lending resources,” it said in a statement.

‘Ugliest of times’

The World Bank yesterday signalled a downturn so severe it would eclipse the chaos that followed the collapse of Lehman Brothers in 2008. Deloitte Access Economics director, Chris Richardson, said if there was not a sharp turnaround overseas, Australians were in for a rocky ride through a ”GFC Mark II”.

Read more: http://www.theage.com.au/business/world-business/imf-needs-us500b-to-fight-raging-euro-crisis-20120119-1q72x.html#ixzz1jrEPFM9O

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