Wednesday, September 24, 2008

Is the financial crisis a surprise? Think again

When the IMF comes, you have reached 3rd world country status. The time has come for "them" the PTB's to dismantle our government, our safety nets and dismantle the middle class.
IMF finally knocks on Uncle Sam's door
David HIrst
June 30, 2008

Der Spiegel wrote that the IMF had "informed" Federal Reserve chairman Ben Bernanke of plans that would have been unheard of in the past: a general examination of the US financial system. The IMF's board of directors has ruled that a so-called Financial Sector Assessment Program is to be carried out in the US.

This, Der Spiegel wrote, "is nothing less than an X-ray of the entire US financial system", adding that "no Fed chief in US history has been forced to submit to the kind of humiliation that Ben Bernanke is facing".
The Shrinking Influence of the US Federal Reserve
June 26, 2008

By Gabor Steingart in Washington
Humiliation for Mr. Dollar: Ben Bernanke, the chairman of the United States Federal Reserve Bank, faces a general investigation by the International Monetary Fund. Just one more example of the Fed losing its power.

IMF To Investigate Factors Behind Oil Price Surge
IMF Survey online

June 14, 2008
The International Monetary Fund will prepare an analysis of the real and financial factors behind the recent surge in oil and commodity prices, their volatility, and the effects on the global economy, Managing Director Dominique Strauss-Kahn said.
Responding to a call by the Group of Eight (G8) major industrial nations, Strauss-Kahn said that as part of the analysis, the IMF would look into the possible role of financial market speculation in the recent price hikes.


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