Go to Hell IMF: What We Don't Want Is Your Austerity and Taxes

What Do You Think About the IMF?

Is the IMF good for the world?

  • Yes, the IMF helps with lending to countries that need the funds.
  • No, the IMF lends at interest rates certain to destroy the balance sheets of many countries.
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Americans Must Understand the IMF Scam

Americans must understand the IMF and German government view of things in order to protest IMF imposing plans for the US economy. The Value Added Tax, a hidden tax, is an idea right from the International Monetary Fund that has been discussed as a possible way for the US to raise more money. The value added tax is a part of the IMF strategy of tax increases and austerity for mainstreet that is at the heart of the criticism of this powerful bank of last resort.

Bookmark this page and Read below about the Value Added Tax.There is a lot of information here so please try to follow along because I think you can get a clearer view of the IMF and of the New World Order that emanates from IMF influence over developed nations thanks to the G20. We have a bank in the IMF that once just oppressed poor nations, making them poorer. Now that oppression is reaching out to engulf a developed nation near you.

I have written that default and massive debt forgiveness has a better chance of eliminating the debt crunch than does budget reductions and tax increases which are massively deflationary. However, I am talking about default on the part of weak and smaller nations. Please do not construe this to include the United States. That would be a major mistake. I write more about the pickle the US is in at Business Insider.

The IMF is a world bank, funded by the G20. One reason we have no jobs programs that Mr. Obama promised is that the IMF doesn't want Americans to have a jobs program when it could jeopardize the international banker cartel worldwide. This IMF says it wants jobs programs but treating Ireland to austerity gives Ireland 13 percent unemployment. And the IMF wants bondholders paid off first priority, even if taxpayers are on the hook. That doesn't leave much room for extra money for a jobs program!

That is how intrusive this New World Order has become. Remember, the IMF will help a country make Too-Big-To-Fail bondholders/banksters whole. It would be better if a country defaulted, making these bondholders take part or all of the losses without saddling taxpayers, who are already under the gun for social and military spending, with bondholder losses. There has to be some risk in bondholder investment decisions!

Here are the steps for how the IMF and German bank scam works. It is similar, by the way, to what happened in the United States. Here are the similarities:

1. The German (and French) banks loaned the PIIGs countries, Portugal, Ireland, Italy, Greece and Spain lots of money for cars, for construction, for solar panels, and much more. These were easy money loans, similar to the easy money loans made by the shadow banking system in the United States. Think of them as easy money loans to a subprime nation. German companies made money because of the loans. They borrowed from the German banks as well.

2. The German banks want their subprime loans to be paid back, even though they were making loans that were really bubble loans and could not be sustained. But just like Bank of America, Goldman Sachs, JP Morgan, Citibank and Wells Fargo were bailed out, a bailout of Greece or the other PIIGS would result in a defacto bailout of the banks themselves.

3. Credit is withdrawn in the aftermath of the easy money pullback. That is happening in the USA, and in Japan, and is happening in Europe as well. Without easy money, the Germans want Greece to tighten their belts and bow to the BIS and IMF.

4, Large Financial Institutions divide the populace, For example, they divide shop keepers from manufacturing workers. They divide public employees and private employees. They divide borrowers who pay their debts on time from borrowers who cannot afford to do so. In setting up these divisions through the media they control, the big financial institutions deflect blame off themselves and their scams

So, what is the scam you ask? The problem is that Germany wanted to sell Beemers and gave crap loans to Greece, just like ponzi housing banks gave crap loans to Americans. Now the German banks are scared and want their government and the IMF to clamp down on the guys that bought all those Beemers, the Greeks. Germany is a predator. They wanted the easy loans to sell the Beemers and the solar panels to people who could not afford them. Now they want their money. This is predatory.

The IMF fits in nicely with the predatory scam. The IMF places countries on austerity programs. Although countries can default if they see that these programs are too deflationary, there is great pressure on them not to default. Austerity hits mainstreet, and keeps mainstreet down, but the banks go on with their obscene profits and don't miss a beat.While the IMF may rein in the banks some, they are not the central target. Mainstreet is the target.

The IMF is behind the hidden Value Added Tax that has been proposed for the United States. I would suggest that the IMF is not the friend of the United States just like she is no friend of the PIIGS nations! The G20 has given the IMF power to pry into the financial affairs of every nation.

As Gordon Brown once said, following the refunding of the IMF in early 2009, that we now have a New World Order, or should I say, a way to continue to squeeze mainstreet after the easy money is long gone. So, in a word, go to hell, IMF! Don't be fooled, the IMF understands the misplaced power of the US financial system.

But if the IMF was just interested in breaking up the big banks, or in reining in the lies of Wall Street I would support it. But that is not all that the IMF wants to do. Mainstreet is also in the crosshairs!

The Fourth Step Above and the Tea Party in America:

The Tea Party was supposed to be a movement that was opposed to the big banks. But I have my doubts. The flaw in the Tea Party argument is that they blame the borrowers, not the lenders, for the ponzi loan scam. The big bankers must be laughing at these bozos as the Tea Party supports deflecting criticism from where it should be placed. Borrowers were bombarded with a very sophisticated, and planned scam. The Tea Party rascals just don't see it. The Tea Party party crashers, Sarah Palin and Rush Limbaugh will only use this vehicle for their own ends. Beware of the professional politician taking advantage of you but who has not had strong views against the big banks for years

Remember folks, it is the plan of the large financial institutions to pit everyone else against each other. That deflects blame off of them. That is why I am so disgusted with Rick Santelli. He was deflecting away from Wall Street ponzi schemes when he had his rant against the borrowers. He comes across as a populist, but Santelli gets his check from CNBC. He is no populist.

UPDATE: Greeks must walk away and Put Away Their Wallets.

Greeks are going to have to walk away from loans from German and French banks and put away their wallets. Otherwise, the IMF will win now that the austerity measures have been accepted by the Greek government, including wage freezes through 2014. The Greeks have no choice but to commence an underground strategic economic campaign. The Eurozone may be saved, if that is what the member nations want, but it will be difficult for Greece. It will also be difficult for the others to meld into a political union. But if they don't the Euro will be toast or it will be a long process going forward.

Update: US banks are up to their eyeballs in European debt. This includes Citibank, JP Morgan and Morgan Stanley. The Euro is behaving badly, causing disruptions. Indeed, multinational currencies are a tool of the international banking cartel to roil the markets and create instability. The Euro is a way for business to profit in good times and for banks like the IMF to profit in times of distrust. In fact, multinational currencies lend themselves to IMF vulnerability precisely because the countries in question cannot devalue their own currencies, but rather are stuck with the Euro. The PIIGS countries are the best example.

Update: Investors are afraid that the debt cutting is too deep and will threaten the Eurozone recovery. See, this is the conundrum. Quit stimulating and investors will abandon you! Stimulate too much and investors will abandon you!

Update: The IMF is part of the push to weaken public unions. While there has been some excess in public unions, the IMF will come out stronger if these unions are weakened. The IMF will then gain control over the lives of citizens in any nation that comes under the bank's thumb or that potentially could come under that bank's thumb like the USA. If you can't make a decent wage you are forced to borrow. That is how big banks want to fleece you and make money.

So, if you don't trust the IMF, and if you understand the IMF, don't rail against the public unions which will be your only line of defense if the IMF decides to put our country in the deep freeze.

Update: It was reported on Bloomberg that Greece could very well sue US banks for the subprime and CDO fraud. This could be huge. Make the big banks pay but wall off the taxpayers from responsibility. That will be hard to do though.

Update: Keep an eye on Basel 3 as it is the world banker cartel once again interested in putting taxpayers at risk in order that their cronies will have guaranteed riches.

Listen to Max. Greece is a Victim of Goldman Sachs!

More From Max. The IMF is Wall Street!

German Opposition Cares About German Mainstreet

Just to be fair about Germany, the opposition wants German banks to share the pain of the bailout. I hope they get their way. Why should the taxpayer in Germany be scammed like Geithner scammed US taxpayers? Go German opposition!

But of course, the finance minister is trying to frighten the German opposition. Finance Minister Wolfgang Schaeuble stepped up his opposition to bank involvement yesterday, saying that debating such a move risked creating “the misunderstanding in financial markets that we’re not talking about ensuring the solvency of Greece.” But opinion polls show 62 percent of Germans support bank exposure and contribution to any bailout of the PIIGS countries.

About Conspiracy and the NWO

The unholy trinity, ie. the IMF, BIS and World Bank, are under the control of the private central banks, of which the Federal Reserve of the United States is most influential. The conspiracy is that the central banks, under the watch of the Bank of International Settlements (BIS), allowed Basel 2 and allowed off balance sheet banking. I believe that the central banks knew exactly what would happen. I don't believe every detail of every conspiracy, just that the central banks had four pillars of conspiracy, that were no doubt set as policy prior to the bubble. The bubble followed, then the crash, then the bailouts, now the austerity.

The Four Pillars of the NWO conspiracy which were also used against Japan:

1. Bubble Technology/Bubble Real Estate

2.. Crash

3. Bank/Sovereign Bailouts

4. Austerity

Just keep these in mind as you ponder the ongoing activities in the planned NWO, these are not free market actions but rather the actions of capital allocation and political power from the top, the elite, the amoral and the dangerous.


Even the Left Hates the IMF

Pakistan Swallows the IMF Inspired Value Added Tax

The video below has a great explanation of what a Value Added Tax is. But don't think that this tax comes from just Democrats. The value added tax is a NWO tax. One was recently imposed upon Pakistan as a requirement for IMF loans. The problem with the VAT is that it is a tax that will be passed onto the consumer. It will raise the cost of goods and services. It is difficult for me to see how a VAT will control poverty, as the IMF website link proposes. The cost of goods will increase and there could well be even less economic activity. The IMF wants this money to pay back loans made by the IMF. That is the real reason for the tax.

The IMF is part of the evil Trifecta, the BIS, the IMF and the World Bank that wants more taxation upon the American people now that we have bailed out the world and have debts to repay. It all falls upon the US consumer, responsible for 25% of the world's purchases. Put your wallets away in protest of this tax that could come to a government near you!

The IMF is not just for taxation. Probably one reason why the USA does not have a desperately needed jobs program is because the IMF wants austerity. But lets look at what taxation and austerity will do. Taxation takes money out of the private sector. But so does austerity. In fact, austerity has been tried in Ireland, and the result has been less consumer spending and less revenue. Remember that the banks want their money back from the crap loans they made, the IMF may want to lend more in the future, and the austerity and taxation is applied to mainstreet to facilitate the collection of the old loans and the making of the new IMF loans.

It is time for mainstreet to claw back from the banking system. It is time that the IMF be defunded and that money go to jobs programs in the USA. We have given the IMF the money in the first place. And what do we get in return? We get austerity requirements, no jobs program and no help for mainstreet. And we get talk of a value added tax. Go to hell IMF.


Definition of the Value Added Hidden Tax (VAT)

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Comments 35 comments

billyaustindillon profile image

billyaustindillon 6 years ago

Another good hub - I think most people don't realize the extent that America is on the hook for the IMF and how under an IMF bailout the first are paid out first.


maven101 profile image

maven101 6 years ago from Northern Arizona

Two thumbs up for this...and a middle finger to the IMF...Thanks for this enlightening Hub cogently articulated, which even I, though ignorant of international monetary practices, can understand...Larry


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Yes, Billy. The Tea Party people play right into the hands of the IMF, because they blame the botrrower instead of the scamming lender. The lenders are the criminals and want you and I in debt up to our eyeballs. Walk Away! http://dontpaycreditcards.com

And thanks Maven for your encouragement. It is all a process of education.


thevoice profile image

thevoice 6 years ago from carthage ill

read learn new every day great hub detailed read thanks


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

It would be nice if banks could just be responsible in lending. Then they could help America instead of hurting the nation.


eovery profile image

eovery 6 years ago from MIddle of the Boondocks of Iowa

Very interesting hub. I agree a lot with you. Where is the responsibility of Greece and Portugal on taking these loans. Aren't the Greeks and Portuguese smart enough to defend for themselves? There has to be responsibility on their parts, and not plan the Germans only.

Keep on hubbing!


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Well, Eovery, I am sure people are blindsided in a bubble. That is the power of the international banking cabal. Some people see through it, but it is a numbers game and they claim a lot of victims. It has happened throughout history, and usury is an evil thing. So is lack of responsible underwriting that banks do from time to time when it suits them.


Micky Dee profile image

Micky Dee 6 years ago

I always love your stuff. I hate to middle finger so I'm trying to hold my right arm down. That's my shooting hand. Thank you Sir again!


Hello, hello, profile image

Hello, hello, 6 years ago from London, UK

A god point, eovery. The problem lies with the German past and with that anyone who needs money knocks on the door. Dare they say no the past comes up. The same with imigration. Italy and France sends them off like anything but German, oh no, there go the Nazis again. So, the Germans will bail out Greece. Let's fae it, the German finances are not that great either but they will pay. Everybody must be laughing their heads off because as long they keep the Germans on the spot they are well out of it.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Micky you are funny!

Hello, interesting points. While I am sure that Germany will offer a rescue, I am wondering if the PIIGS will take the huge austerity that the IMF is requiring. I don't think that they will. They will have to balance their budgets on the backs of the infirm, elderly and poor. The drop in wages that even private sector will be required to accept will just hurt business in Greece even more.

The IMF could care less about all that.


dallas93444 profile image

dallas93444 6 years ago from Bakersfield, CA

Amen ! Preach it brother. The Greeks have been irresponsible for years.. Almost as bad as the US government. Spend more to create a social "utopia." Let the next generation pay for it...


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Dallas, you miss the point. The predatory banks took advantage of Greece. Unless you understand that, you will always divert attention from the real culprits in the global credit crisis.


justom profile image

justom 6 years ago from 41042

Nice hub, global idiocy in banking is something I have little understanding about and I look forward to reading more.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

I have a few more hubs on the subject, Justom. Hope you realize that really, the issue is the financial industry biggies versus mainstreet. Lots of false expressions of shock out there, but ultimately it is all about mainstreet versus the big, conspiratorial financial industry nearly worldwide.


H P Roychoudhury profile image

H P Roychoudhury 6 years ago from Guwahati, India

The monopoly of G-20 over IMF is a set back of Obama administration. US, the pillar of democracy indirectly become a subject of compliance of undemocratic country like China, Egypt who was the members of G-20.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Yes HP you have correctly read the situation. Not good.


Hello, hello, profile image

Hello, hello, 6 years ago from London, UK

Of course, IMF couldn't care less, they sit on the gold pot. Now we got Cameron who claimed he will bring England out of the recession and blamed Brown all the time for it. Lets see the miracles.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Oh right. Actually Britain will have to do like the US needs to do, make things. This financial pencil pushing won't cut it.


elliotm 6 years ago

Very well written HUB with a lot of great info. However there are two parts to this story which I feel have gone unnoticed by much of the mainstream media. Firstly, since the creation of the modern Greek state in 1834, Greece has had a long history of massive foreign debt to Western Europe and more then once the state has either defaulted on its loans or enforced severe austerity measures to deal with economic crisis. As such I think that a complete picture of Greek debt must be understood in the wider context of Greek history. The second part of this story which is fascinating is the reemergence of Greek communists, in a country that suffered the first civil war in the Cold War world and banned the communist party until the later part of 1970s.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Yes Elliot, the problem is that Greece has two major industries that tend to go boom and bust. Ship building and tourism seem to tank at the same time. It is just the way it is there.

The people are becoming radicalized no doubt, as they see the IMF and the German debt requirements as being fascistic.


Bruce 6 years ago

Actually, Greece has virtually no shipbuilding whatsoever. It does have the largest merchant marine in the world (U.S. is # 5). Services, such as shipping and tourism are a major part of Greece's economy (69% in the service sector 2008 according to the Organisation for Economic Co-operation and Development), and the collapse of these industries since the recession have hurt Greece deeply. The greater cause of their problems stem from the high transfer payments the government is locked into - high unemployment, generous pensions and early retirement. Public sector spending accounts for 40% of the GDP (CIA World Factbook). One needn't look for a conspiracy. Greece just spent money they didn't have. It isn't as fun a story to tell, but the conspiracy story is pretty thinly based.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Bruce, Germany's biggest banks are leveraged up at 60 to 1 (Deutsche Bank) all the way to 124 to one. Trust me, it is a banks bailout of European banks and you don't know what you are talking about regarding conspiracy. It is an admitted conspiracy to bail out the European banks, and is now common knowledge.

You are correct about the Greece economy, but the German banks lent way beyond their means. They were greedy and knew they would be bailed out. If they aren't bailout out the financial system will be badly hurt. Of course then we could have state banks like Ellen Brown talks about.


Bruce 6 years ago

The penny-pinching Germans aren't very comfortable with personal or corporate debt, so the thought of a powerful bank like DB leveraging at 60 to 1 or higher seemed unlikely. I took a look at their recent cash flow statements and balance sheets. I had to go back more than a year, to March 2009. Deutsche Bank did have a 60 to 1 leverage - near the bottom of the trough of the worst recession since the end of the war. When share prices plummet, leverage rates escalate - that's how the formula works. You ask me to trust you, but the data you've offered has been either wrong (shipbuilding vs. shipping) or has been cherry-picked (leverage rates). By the way, who has admitted to the "admitted consipiracy" that is now common knowledge?


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Come on Bruce. Even recent reports still have DB at 49 to 1. You can look it up on Seeking Alpha. Now, the worst US banks were at 30 to 1 and look what happened to them. They still aren't out of the woods.

And I am not talking about share price to leverage, but rather because of balance sheet. Even the World Bank acknowledges this. http://www.worldbank.org/financialcrisis/pdf/levra...


Bruce 6 years ago

Balance sheet leverage? This sounds like equivocation.

Financial leverage is traditionally measured in terms of debt (liabilities) to shareholder equity - check any Finance textbook, Wikipedia etc. The Worldbank discusses different measures, the balance sheet measures are really liquidity measures which offer little insight into the underlying quality of the assets (e.g. Subprime garbage, CDO's).

Even the Worldbank concluded "There appears to be consensus that no single tool or measure would have prevented the financial crisis ... [the leverage ratio] is no silver bullet." The traditional financial leverage method bolstered your argument much better.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

But Bruce, if you consider that the stock market is inflated beyond fundamentals how can you say that your method is accurate either? All I am doing is comparing apples with apples. In other words, if US banks were leveraged up a certain amount, the German banks are leveraged in the same way but with a far greater bet. One major German bank was leveraged 124 to 1 based upon these metrics explained by the World Bank.

This is why investors are so nervous if Greece sneezes. They fear for the financial system in Europe.


Bruce 6 years ago

Apples with apples? What kind of apples? First we were comparing DB, now its "one major German bank." I agree that an overinflated stock market would conceal the degree of overleverage, but the DB example of 60 to 1 was from the end of March '09 (stock price $40.65). Those prices were clearly a panic overcorrection that went beyond a recalibration to fundamentals. Previous stock prices had been over $100 throughout most of '07 and started to collapse in '08. DB's stock price partially rebounded to $52.43 a month later - more than 25% higher and are hanging around $60 now. It's hard to imagine that investors were rushing back to buy overvalued DB securities after they had briefly plummeted to $21 less than two months priviously.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Long term debt to equity ratios applies to most companies, Bruce, but not to banks. With banks a better metric is Long-Term Debt To Capitalization Ratio.

You are talking about debt to equity and I am not. Capitalization is crucial to the financial health of banks.


Bruce 6 years ago

The three components of long-term debt to capitalization ratios are long-term debt, preferred and ordinary shares. Equity is part of the formula.

Last time I checked, banks are in the business of borrowing and lending. Banks' business model is dependent on moving money - to do otherwise would be a poor use of working capital.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Two things are at work here, that I see Bruce. One is the threat of non performance of the long term loans. The second is the continuing threat of mark to market, which FASB and the BIS seem to be fanatical about.


steve8miller profile image

steve8miller 6 years ago from Ohio Great City of Dayton

Great hub here. I recently did a paper on usury It is just wild to think we are now here. The hidden greedy agenda has never died, never been extinguished, the next two years should be interesting. Perhaps there is a fleeting chance of a new human enlightenment in the year 2012. It is going to go one way or the other. Right now it is anyones guess. The people seem to be rejecting the propaganda of things like the Tea Party, and lying media. However the power is uncanny, and it would take nothing short than a war to end it. Like I said the next couple years are going to be interesting, very interesting indeed. I still have hope, we just need more people like yourself.


bgamall profile image

bgamall 6 years ago from Las Vegas, Nevada Author

Hi Steve, yes, the greed is incredible. I just read an article where the payday loan originated as a means to keep people from paying off the loan. Since they cannot get ahead of the loan they end up with fees and additional charges, which was the way the loan was set up in the first place. The subprime ponzi loan was modeled of the success of these working poor loans. It is a scam, and the people who set them up, the big money people who rule the world, should be in prison instead of being in power.


Ingrid 4 years ago

Global Debt Crisis

The greatest private fraud of human history.

Who are the great fraudsters who are becoming the murderers of the human kind? How does the economy "illness" threaten Democracy and the freedom of people?

http://eamb-ydrohoos.blogspot.com/2012/01/global-d...

---------------------------------

By knowing what happened in indebted Greece, where loan sharks created “bubbles” and the current inhuman debt, one can understand the inhuman plan in total ...understand where this plan started just to bring all states at the same end ...understand how this type of plans are established...

Authored by PANAGIOTIS TRAIANOU


bgamall profile image

bgamall 4 years ago from Las Vegas, Nevada Author

Sorry for the delayed reply. You are exactly right, Panagiotis.


The Baby Seal 4 years ago

Alittle off topic, "Ordo Ab Chao"

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