US to backdoor Euro bailout through new IMF credit facility

Examiner ^ | November 22, 2011 | Kenneth Schortgen Jr, Finance Examiner

[Qbert]

In 2008, the United States government and Federal Reserve helped bailout European banks to the tune of trillions of dollars.  The reactions to this by Congress and the public ensured that any future bailouts would have to be performed through the use of a proxy institution.

It appears that this proxy institution has been found, as the IMF on November 22nd just opened a new credit facility with the primary purpose of providing liquidity to sovereign nations, especially those currently in the Euro Zone.

IMF talking points on new credit facility

* IMF APPROVES CREDIT LINE PROGRAM CHANGES TO PROVIDE LIQUIDITY

* IMF CREDIT LINE CREATES NEW SOURCE OF FUNDS FOR MEMBER NATIONS

* IMF ADDS EMERGENCY FUNDING TOOL TO ASSIST COUNTRIES IN CRISIS

* IMF NEW CREDIT LINE AVAILABLE FOR SIX MONTHS TO TWO YEARS

* IMF CREATES PRECAUTIONARY AND LIQUIDITY LINE

* IMF SAYS ACCESS UNDER 6-MONTH LIQUIDITY LINE COULD BE UP TO 500% OF MEMBERS QUOTA - Zerohedge

[SaraJohnson]

Is there no stopping our Dear Reader from screwing the US like this?

[Varsity Flight]

Systemic monetisation.

Prepare for higher fuel and food/staple prices,
(despite the effects of less driving, and thus less demand plenty of oil supply)

Business demand falling, unemployment food stamps up.
Gasoline: 5.00 at the pump?