Failings of IMF surveillance of the financial crisis

[MPB]

I'm throwing this up just as a thought, that I'd need to think a bit more about - the US perhaps wants to isolate itself from the Eurozone crisis economically, and to have compliant Europeans at the helm at the moment is perhaps more politically convenient for that purpose.

The IMF was set up in 1944 to prise open global markets (mainly to the advantage of the US) and to attempt to create stable currency exchange rates.
http://en.wikipedia.org/wiki/Bretton_Woods_Conference

The BRICS are being asked for more money by the IMF and are replying that they want more influence and that appointments should be merit based.

http://en.wikipedia.org/wiki/Interna..._Monetary_Fund

Remember also,that the ECB is not allowed print money, yet there seems to be a never ending flow of money pouring into European Banks. Far more than the books of the ECB actually show. Where is this money coming from? They are not printing it. Although some commentators seem to think that they are.

Early on in the crisis, the FEDs books showed that it had lent billions to the ECB.

It is my belief that the FED is backstopping the entire thing.

Why?

Because the FED is dominated by ex Goldman Sachs, JP Morgan etc, hence the bailout of all bondholders and the socialising of all private Bank debt.

[C. Flower]

Remember also,that the ECB is not allowed print money, yet there seems to be a never ending flow of money pouring into European Banks. Far more than the books of the ECB actually show. Where is this money coming from? They are not printing it. Although some commentators seem to think that they are.

Early on in the crisis, the FEDs books showed that it had lent billions to the ECB.

It is my belief that the FED is backstopping the entire thing.

Why?

Because the FED is dominated by ex Goldman Sachs, JP Morgan etc, hence the bailout of all bondholders and the socialising of all private Bank debt.

Any clues from the Bank of International Settlements ?

[Dr. FIVE]

vomit

http://www.irishtimes.com/newspaper/...330866528.html