"The International Monetary Fund may soon lack the money to bail out an ever growing list of countries crumbling across Eastern Europe, Latin America, Africa, and parts of Asia, raising concerns that it will have to tap taxpayers in Western countries for a capital infusion or resort to the nuclear option of printing its own money. " http://www.telegraph.co.uk/finance/...ay-need-to-print-money-as-crisis-spreads.html We are going through something we haven't before.... incredible..
THe IMF has no reserve, just as the FED has no reserve. The IMF is basically a round-table group for Central Banks. When an international monetary crisis presents itself, such as this, western central banks cede power to mint a certain amount of their countries currency to the IMF, who does so, and hands out accordingly.
SDRs are an interesting beast. its a fiat currency backed by fiat currencies with a central bank with printing capacity(instead of just a currency board) how should one call this
LOL! IMF = U.S. tax dollars. We can't get our system right, yet we will print more to save the IMF concerns. Am I missing something?