IMF in global 'Meltdown' Warning

IMF in global

news.bbc.co.uk

The world financial system is teetering on the "brink of systemic meltdown", the head of the International Monetary Fund (IMF) has warned in Washington.

Speaking in the US capital on Saturday, Mr Strauss-Kahn said: "Intensifying solvency concerns about a number of the largest US-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown."

(visit the link for the full news article)



[edit on 11-10-2008 by OneManBand]

Mainstream media are finally admitting what we have all suspected. Global Meltdown.

And guess what Bush said? -

Mr Bush said the global economic crisis needed a united international response...

...In an interconnected world, no nation will gain by driving down the fortunes of another. We are in this together. We will come through it together..."

It seems the details will trickle out via the MSM in the next few days.

news.bbc.co.uk
(visit the link for the full news article)

no nation will gain by driving down the fortunes of another

Hang on a minute there. Apparently the British Prime Minister doesn't feel the same. He's going after Iceland or has that issue been resolved all of a sudden? I'm confused here. Sounds like a lot of sugar-coated nognam to me. We hear one thing and then another thing. Apparently the book that was been handed out was issued with different pages.

Originally posted by BindareDundat

no nation will gain by driving down the fortunes of another

Hang on a minute there. Apparently the British Prime Minister doesn't feel the same. He's going after Iceland or has that issue been resolved all of a sudden? I'm confused here. Sounds like a lot of sugar-coated nognam to me. We hear one thing and then another thing. Apparently the book that was been handed out was issued with different pages.

My understanding is he is going after Iceland because Iceland is guaranteeing the deposits of its own citizens, but not the deposits in their banks held by people of other nations.

JK

The IMF owns America, so they should know...

www.yale.edu...

Isn't it this guys job *not* to say stuff like this?

reply to post by Mainer


exactly! i nearly fell out of my chair when i read this on the bbc front page headline! maybe they are preparing us for an even bigger headline tomorrow

reply to post by leo123


That may be so. But still if you read further into Bush's statement:

We are in this together. We will come through it together...

Invoking the Anti-Terrorist Act against Iceland isn't exactly helping the situation. Instead the British PM (a G7 member) pulls this. So now look at what's going on with that situation. (See link below.)

This is not "We are in this together. We will come through it together". What does Russia do to try to help Iceland's crisis? - helps them out. That speaks louder than Bush's statement.

www.abovetopsecret.com

reply to post by leo123


Over 100 councils (local authorities) have money in the icelandic banks who have now said that no withdrawals can be made.

The sum amounts to over £1 billion - if the money is not returned, people in the UK who pay council tax face the prospect of tax rises because of Icelands actions in freezing certain accounts.

The PM has said that he will use anti-terror laws if necessary and freeze Icelandic accounts in the UK until the money is returned.

In other words, he's saying "give us back our money, or we'll freeze yours as well"

This sorry state of affairs would never have happened if it wasn't for John Prescott, who instructed local authorities to put money into the highest earning accounts they could find.

At the time of the instruction, the highest paying accounts were in Iceland.

IMO the PM is spot on in his actions - and I am probably his biggest critic.


[edit on 11/10/2008 by budski]

The IMF doesn't own America, it only owns the serfs who run it.
At the end of the day, the people will prevail.
Stock up on Corn Rice Beans Water etc.
You will ride it out without getting shot.
Get some decent defenses some decent hunting fishing and farming equipment.
People will come and try and steal this from you.
That's why I stress get some decent defenses.

reply to post by Mainer


It was his job to prevent a crisis like this, but (yet again) the IMF is asleep at the wheel.

Don't get me started on the World Bank either...

LOL slow down Jones. We aint going 3rd world country just yet. This is shear paranoia.

Originally posted by Interestinggg
The IMF doesn't own America, it only owns the serfs who run it.
At the end of the day, the people will prevail.
Stock up on Corn Rice Beans Water etc.
You will ride it out without getting shot.
Get some decent defenses some decent hunting fishing and farming equipment.
People will come and try and steal this from you.
That's why I stress get some decent defenses.

reply to post by infinite


asleep at the wheel... or just making it look that way, it is in their intrests top have a world currency - more control

reply to post by Interestinggg


Your Oracle of Delphi personality is cute.

Sorry to be so insensate and dissolute, but it is difficult to take survival methods and prophetic warnings seriously from someone who lacks basic English.

reply to post by infinite


You know, some people (likely a lot of people) have this latent attribute that, if they can voice their innermost fears (even within a small arena like ATS's Audience) they believe that by doing so, these will not manifest the way they are expressing. I say, let them have at least that, irrespective of their grammatical ability. Clearly they will not be the one's sending up the Global smoke signals that will trigger 'meltdowns'.

That said, I seriously do believe that even in a mostly innocuous statement like his OR yours for that matter, one thing I believe is that now is not a time where ANY of us should be divisive. We all have a stake in this situation...educated or not.

We's dumazzez gotz ta roll tite wit da enlightened elite ...


AB1