IMF Plots Role as World's Central Bank?

"The multiplication of public offices, increase of expense beyond income, growth and entailment of a public debt, are indications soliciting the employment of the pruning knife."
--Thomas Jefferson, letter to Spencer Roane, 1821
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Dominant Social Theme: The world's economy is a disaster. The IMF is the logical choice to lead the way to a brighter banking future in a consolidated, centralized, world economy. It says so itself.

Free-Market Analysis: Can you hear the whispers coming out of the shadows? Over the past months, we have covered the IMF's increasing efforts to position itself as the world's future central bank and one-world currency issuer. We can see from the above article in Reuters – a chief mouthpiece of the power elite along with the Economist magazine – that the campaign is in no sense winding down. Now the IMF casually, oh-so-casually, floats the idea that it might tap global markets for funding.

Various speculations immediately come to mind. The first is that IMF executives are expecting something big, probably the default of Spain. The idea would be that the EU, which has been struggling with gnats such as Portugal, Greece and Ireland, simply could not handle a default the size of Spain. The IMF has been faithfully at the side of the EU, madly indemnifying Southern PIGS as they fall; but even the IMF could not handle such a bankruptcy, or so we speculate.

Of course, Spanish officials have recently issued a series of statements indicating that Spain is solvent and will remain so, which in our view means a default is almost certainly on the way. Over the weekend, EU officials claimed, as well, that the EU had turned the proverbial corner and that recessionary trends were giving away to recovery. Again, from our point of view, this almost certainly means that the EU is slumping into dire straits, maybe a depression.

More.

Conclusion: One is struck by how fast events are moving. The power elite is hardly bothering to pretend anymore. One paper suggests decades; another paper indicates that instruments might have to be collated tomorrow. Yesterdays' blueprint is applied today; but we can see the articulation beneath the surface and the connections to the Man Behind the Curtain. The great and invisible Oz is neither of these things anymore, but merely visible and obvious. What we tend to see is desperate men running as fast as they can before time runs out.

Via Bazz