IMF to Conduct “X-Ray of the Entire U.S. Financial System”
http://www.spiegel.de/international/world/0,1518,562291,00.html
Officials with the International Monetary Fund (IMF) have informed Bernanke about a plan that would have been unheard-of in the past: a general examination of the US financial system.
For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush’s last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman.
As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests — worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar.
MORE:
http://business.theage.com.au/imf-finally-knocks-on-uncle-sa...
Damn!!!!
These people are something. This is really depressing because if you watch what happened in Argentina the suffering is going to be imminence. Peace
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
RE: Don't blame US, we voted for Ron Paul!
This should be our slogon, every time something unfolds in our economy.
Let everyone know of Ron Pauls warnings! Entroduce them to his book, websites, etc, etc.
hjschaapman
The Winds of Change!
That could cost us reserve currency status
Internation transactions at the IMF are conducted in USD. The federal reserve benefits from this fact. To be blunt, if the IMF has the right to look at any nation's currency, it's ours.
Even if the dollar continues it's decline, and is replaced as the world's reserve currency, this doesn't mean anything negative for international bankers. All they need is some fiat currency. The Euro would do just as nicely.
If you take a US centric, or conspiratorial view on central banking, then you might think that the men who own the Fed are uniquely powerful. They are just another group of central bankers. All world currencies are fiat, and many are controled by central banks. The USD is nothing special.
My guess is the IMF wants to see if the US economy is now unsound enogh to justify the turmoil that would be caused by switching to a new reserve currency. It may be in other nation's interests to switch to Euros, or something else when doing international business, if the dollar is going to continue a steep decline.
new ron paul post
there is a new post (7/5/08) about ron paul's continued influence at the following political blog:
http://thevote.abc13.com/2008/07/the-revolutio-1.html
Well then
I suppose that will solve everything. I'll just go back to playing my Wii now.
-dave
"She's lower than the lowest whore outside the Holland Tunnel at 3am in fishnet stockings." - Michael Savage in reference to Dianne Sawyer
David Burns
Simi Valley, CA
You may want to read just how much power IMF has.
Wonder if the IMF is going to use Real Money or Fiat to replace the dollar.
http://www.yale.edu/lawweb/avalon/decade/decad047.htm
I believe...
this is another distraction from some of the real stuff that is going on in our failed government, and monetary system.
Letting the Foxes inspect the Hen House
This inspection sounds bogus. Why the heck would we allow the IMF or all institutions to inspect the US financial system? The IMF is part of the problem, not the solution. No doubt their "solutions" will require more government intervention.
Register as Republican and Vote for Ron Paul
What a bunch of crap
It's all smoke and mirrors. The FED and the IMF are controlled by the same Banksters. What we are being "fed" here is nothing more than New World Order propaganda.
Bush's handlers gave him the task of creating perpetual war and introducing a police state. Remember the aircraft carrier photo op with the "Mission Accomplished" sign? Well it was Mission Accomplished. He had done his job. Now that he had perpetual war and a police state, the country would be put into an economic tailspin.
It's all just part of the big NWO plot and it looks like the masses are buying into it. What a crying shame.
Congratulations to:
The Astor Family
The Bundy Family
The Collins Family
The DuPont Family
The Freeman Family
The Kennedy Family
The Li Family
The Onassis Family
The Reynolds Family
The Rockefeller Family
The Rothschild Family
The Russell Family
The Van Duyn Family
Your New World Luciferian Order is being accepted by the blind slave masses.
----------------------------------------------------
Ron Paul 2012 - Not just for America, for the World!
I am one of few one eyed men
in the land of the blind.
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Oruval
I guess that makes you king...
Under who's authority?
The USA is a soverign nation and the IMF has no authority to conduct any review of any kind. Unless our government has signed away our soverignty that is.
MANNNN
They have NO RIGHT TO INVESTIGATE THIS SHIT. WHY ISNT CONGRESS DOING ANYTHING? Or is it they dont have any power anymore?
Good and Bad
On one hand, this could be good... This has the potential to shed some light on the Fed, and show people that it's not such a good idea.
On the other hand, why does it have to be the IMF (part of the coming one-world government) and not our own Congress?
If they find some really nasty stuff going on, this could accelerate the fall of the dollar, which may be inevitable, but still not a good thing for our economy.