IMF can print cash out of thin air. Why do think gold is $1,500 USD/ounce and oil is $100/barrel and food prices have double in grocery stores in the last year. average joe basic monthly expense has increased 40%...same as tax increase or wage cut. transfer of wealth from poor to rich. people who buy gas and people who own gas.
No, but they can probably get the Fed to do it via some swap where the Fed takes worthless debt and gives them cash. Not like that hasn't happened before, wink wink nudge nudge.
Nope, can't do that... The US govt, i.e. Congress, makes all decisions on the funding the US provides to the IMF.
Exactly. The IMF, FED, ECB, whatever central bank you want to name, simply creates money out of thin air. The existance of Gold is somewhat immaterial as far as central banks are concerned.
PLEASE tell me you don't really believe that. I wrote a lot more after this but decided to erase it because I'm not in the mood to get into some useless debate about the topic but I'm surprised to here you say this.
This is not true. I do however believe that Obama and the Democrats will fight tooth and nail to provide as much assistance as possible to Greece, because they realize that they are toast in 2012, if Greece tumbles. If Greece defaults, there will be some level of contagion in Europe and throughout the world. The US is on life support as it stands, so if there is a domino effect, our economy will stall, as will employment and housing. If there is no improvement in those 3 areas, Obama is history. I really don't see how the US gets out of the corner that we're painted in for some time.
who cares about Greece, Greece is a welfare state but the taxpayers dont' want to pay the tax. Greeks want gov't welfare but don't want to pay tax on it. CBOE wants to leave chicago..10% is too high. well you know if nobody wants to pay tax, who is going to pay for the $500 billion/year military budget and the state police or pay for the SEC to enforce market rules. Greek gov't employees want retirement pension at age 50. gov't welfare from cradle to grave ? welfare was for poor people---NO welfare to millionaires and billionaires and corporations who don't want to pay tax and threaten to leave because 10% tax is too high??? 10% tax is low! Greek unions can protest all they want but if nobody wants to pay for it in taxes why should the gov't go in debt and pay for these workers. they don't really need. the problem with greek and communist states is the state spends other people's money with no accountability. welfare was once reserved for poor people... rich people don't need welfare.