Quote:
Originally Posted by Sunny-Days90
Where are all the Halliburton haters now?
Obama is handing out money to foreigners at the expense of the American tax payer.
Mr. Globalization Obama is setting up America for a total downfall.
If you cannot see what he is doing to us then you really need to find something to do.
Our fake stimulus at work folks.
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the massive taxpayer gift to the IMF should have been an indicator of the global intentions.
In periods of looming collapse, wealthy elites protect their funds. In times past they bought gold when currencies started to weaken. (Patriotism never has been a characteristic of cosmopolitan finance capital.) Since the 1950s the International Monetary Fund has made loans to support Third World exchange rates long enough to subsidize capital flight. In the United States over the past half-year, bankers and Wall Street investors have tapped the Treasury and Federal Reserve to support prices of their bad loans and financial gambles, buying out or guaranteeing $12 trillion of these junk debts. Protection for the U.S. financial elite thus takes the form of domestic public debt, not foreign currency.
It is all in vain as far as the real economy is concerned. When the Treasury gives banks newly printed government bonds in “cash for trash” swaps, it leaves today’s unpayably high private-sector debt in place. All that happens is that this debt is now owed to (or guaranteed by) the government, which will have to impose taxes to pay the interest charges.
The new twist is a variant on the IMF “stabilization” plans that lend money to central banks to support their currencies – for long enough to enable local oligarchs and foreign investors to move their savings and investments offshore at a good exchange rate. The currency then is permitted to collapse, enabling currency speculators to rake in enough gains to empty out the central bank’s reserves. Speculators view these central bank holdings as a target to be raided – the larger the better. The IMF will lend a central bank, say, $10 billion to “support the currency.” Domestic holders will flee the currency at a high exchange rate. Then, when the loan proceeds are depleted, the currency plunges. Wages are squeezed in the usual IMF austerity program, and the economy is forced to earn enough foreign exchange to pay back the IMF. (whitney)
our country isn't the only country being manipulated by oligarchs, although it certainly is out in the open now. our politicians are gleefully announcing what deals they got and wall street bankers are gleefully announcing their bonuses, or that they are "doing god's work".
ARE AMERICANS FED UP YET?
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