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Friday, November 18, 2011

Cock-a-doodle-doo

Are you an American who really doesn't know or care anything about Europe's financial situation; the type of person who proudly couldn't pinpoint Germany or Greece on a map?  Are you too busy to read or care because of more important things like NFL football, TV shows and internet distractions?

Perhaps you should start to care since its looking more and more like your tax dollars will be going abroad towards paying the Eurozone's bailout...

"The International Monetary Fund is inserting itself more forcefully into Europe's efforts to resolve its debt crisis... Steps taken this week could strengthen the IMF's role in handling the crisis. (For instance) the IMF said on Thursday it would not be joined by EU or ECB officials when it conducts an in-depth review in late November of Italy's economy... By going it alone, the IMF would assert its leadership role and potentially instill greater market confidence." (Reuters)

Ahh yes.. greater market confidence--we Must soothe and calm the financial markets.  Professional investors are the world's true royalty don't you know...

So, back to the IMF- For every dollar this global bank/lending agency gives to a nation, 17.4 cents comes from the US, the highest percentage of any nation and double the 2nd largest contributor nation.  This was done on purpose in its charter so the US would hold an 85% supermajority vote in case the entirety of the rest of the world wanted something to be approved a certain way and the US disagreed.

Anyways, back to the financial--  17.4 cents doesn't seem like much.  Why that's less than a pack of gum.   Oh but wait- Europe isn't needing 1 dollar from the IMF-- its needing more like $200 billion.. at least.   The $200 billion is simply to help recapitalize the European banks.   So if $200 billion ends up being the total sum (which it won't be), then US taxpayers will have paid out $34.8 billion.

$34.8 billion dollars-- Not for job creation.   Not to fix the serious housing problem.  Not to provide any direct benefit to the US populace...  If the IMF gives $200 billion to Europe as has been speculated this past week as a preliminary figure, that $34.8 billion is going eastward across the Atlantic, and without even some croissants, weinersnitchel or hummus as a 'thank you America' gift.

People- With all respect given:  Its time to wake up.. start paying attention to what's going on outside of your personal everyday world.  We are not living in normal times with normal political and economic corruption.  This is not business as usual and the decisions these evil politicians (technocrats in Italy and Greece) along with the banks and global Investor cartel is going to affect the quality of life for billions of people adversely.

Our immediate lives...  our children's...

We as individuals may be too powerless to stop the wheel from spinning, but we all are empowered to educate ourselves, and express our frustrations with knowledge as the 'sword'.