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IMF - The Central Bank for The Central Banks - What are they planning?

http://www.imf.org

http://www.imf.org/extern...

IMFC Statement by Stefan Ingves, Governor, Sveriges Riksbank

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Actually, the Bank of International Settlements

in Basel, Switzerland, is the head of the central banks. The IMF is quite limited in what it can do in a situation such as this; since, according to the article, it only has $200 billion that it can loan out. That's not even going to make a dent in the $1 quadrillion of toxic derivatives that haven't even started to unravel. Besides, as Dr. Paul is so fond of reminding us, you can't solve a credit crisis with more credit. Any more intervention/money creation is only going to make the matter worse and ensure that complete financial collapse occurs--i.e. all paper assets, and currencies will return to their intrinsic value, zero.