Paul Revere alert....IMF now printing dollars!!!
Submitted by kerg_99 on Sun, 03/15/2009 - 23:39
http://www.telegraph.co.uk/finance/financetopics/recession/4...
Unless I read this wrong the IMF is going to issue US Currency as part of this initiative. If true, then the US Treasury is taking a big leak on the Constitution again....
Please join me and contact Dr. Paul and your congressman, senators, and the presidents office about this. It is bad enough the FED can create money out of thin air, but when the IMF starts to do it (an organization beyond the reach of congress) thats rediculously unconstitutional.
As most of you know, this will be a direct inflation tax on every American if they are allowed to issue our currency....
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Not Dollar...
But the new world currency. Here is a quote from the article:
The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency"
Interesting
In the article, it goes on to say:
Simon Johnson, former chief economist at the IMF, said: "The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.
"The objective is to create a windfall of cash. However if everybody goes out and spends the money it could be very inflationary."
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Not sure what "everyone" means if it's worldwide, or to a specific country. My feeling is it's just another printing press doing what they do, print more money out of thin air with nothing to back it up. Why print money if they're worried people will go out and spend it, what's the purpose? Or are they expecting people to invest it in stocks and whatever and basicly just giving it back to the bankers to keep.
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I suspect this is a setup to allow the US to help with an Eastern European bailout on the sly. Estimates are that Eastern Europe will need trillions in order to keep the western european banking system from imploding. In my opinion the super dollars will be used to help these countries since Europe as a whole simply doesnt have the resources to bail out all of their Eastern European counterparts.
Got gold anyone???
I am getting SOOOO SICK of this garbage!!
The IMF is not the US Treasury though....unless I missed something.
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You are right
You are right they arent and thats the point. The constitution only allows congress (delegating to the treasury or fed) to "coin" money. Of course modern constitutional scholars intrepret the constitution to mean the FED has the authority to "coin" purely fiat currency....
The IMF being allowed this power is incredibly dangerous......
Don't think you misread
I've seen similiar articles today.
G-20 finance chiefs try to reassure markets
March 15, 2009
http://www.iht.com/articles/2009/03/15/business/summit.php