Posted on 02/26/2010 4:47:14 PM PST by Fyscat
Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar.
(Excerpt) Read more at abcnews.go.com ...
The Greeks better start figuring how many olives it takes in trade for a liter of petrol.
And one day it might snow on the world’s global warming hoaxers too.
They didn’t PROPOSE anything, they speculated about SOMEDAY needing ...
And this is the kind of denial I’m talking about. You think they brought those towers down just for the body count? Wake up, it was a strategic target that had implications that we are currently feeling and will continue too. To completely dismiss the possibility of this is foolish, to be polite.
Nam Vet
We might be able to illustrate the downside of this for them if we withheld the hundreds of millions of taxpayer dollars we contribute to the fund.
But that’s the first step. Check out Helicopter Ben’s speech here from 2002 and you’ll see that he has now done absolutely everything he even obliquely mentioned as a remote hypothetical possibility.
http://www.federalreserve.gov/boardDocs/speeches/2002/20021121/default.htm
May I add that former Fed official Alan Blinder wrote an op-ed for the NYT in 2008 where he suggested a new, absolutely crazy government program that he called “Cash For Clunkers”.
“Unity in Diversity”...”E Pluribus Unum” works just fine for me.
Check my posts, been an advocate since 2002.
I own a real nice blazer jacket with buttons like that.
“We might be able to illustrate the downside of this for them if we withheld the hundreds of millions of taxpayer dollars we contribute to the fund.”
That is based on a ASSUMETION that US dollar would still have value to anybody outside the US.
What’s an assumetion? Do you think the IMF is going to turn down $500 million? Do you know where the IMF is located? Hint: downtown DC.
My apologies for the spelling error. As far as the 500 million, whats that? That’s nothing is what it is. Especially in todays market and with whats happened to M3. Do you know what M3 is? The way you make that statement about the 500 million I highly doubt it. I strongly suggest you educate yourself past proper spelling.
big deal.
another guy wants to print his own money
My bad...Your right, no need to think of such things. All is right with our country for we are the chosin ones. And because we are chosin no problem can befall us. What was I thinking, I’m sorry.
Estimating the Cost of Contributions to the IMF
May 2009, Mark Weisbrot and David Rosnick
This issue brief looks at the likely costs to the U.S. Treasury from a $108 billion increase in the U.S. contribution to the International Monetary Fund (IMF). The White House's Office of Management and Budget originally proposed the $108 billion be scored at zero in the budget, and there are indications that it may be scored at as little as $5 billion.
This analysis estimates the cost to the U.S. Treasury would be in the range of $16.6 to $26.3 billion, based on the difference between the U.S. Treasury's borrowing costs and interest received from the IMF. These estimates are conservative and understate the true cost. Also, the $500 billion is mentioned here: http://online.wsj.com/article/SB124294127775444875.html
IIRC, the Holy Bible has a verse or two about this.
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