The International Monetary Fund is broke and needs a bailout of $1.4 trillion. Since the United States is a member of the One World Order cartel composed of the Federal Reserve, IMF and World Bank, we have to pay our “fair share”. How much is determined by our total shares in the IMF which is 17.70% or 42,122,400,000.00 Special Drawing Rights.
Update 9/26/11
The cost of the bailout has been revised to $2 trillion which raises our share to $354,200,000,000.
Whether you believe the administration or the Federal Reserve is in charge, the Constitution requires the House of Representatives to make and pass our budget and expenditures. Of course we don’t have a budget. It looks like this week will be another bloodbath in the stock markets as the United States will be pulled into a last ditch effort to save Socialism in Europe. If the financial markets believe that this bailout will work, the markets may rise temporarily. We have seen the markets rise every time another Greek crisis is averted. How many times will it require for us to realize the truth? As Ross Perot would say at this point: that sucking sound you hear is your life’s saving being flushed down the toilet.
David DeGerolamo
United States Percentage of the International Monetary Fund
| QUOTA | VOTES | ||||
|---|---|---|---|---|---|
| Member | Millions of SDRs |
Percent of Total1 |
Governor Alternate |
Number2 | Percent of Total1 |
| Mervyn King | |||||
| United States3 | 42,122.4 | 17.71 | Timothy F. Geithner | 421,965 | 16.76 |
| Ben S. Bernanke | |||||
Europe could boost bailout fund
EMERGENCY plans were being drawn up last night for a massive boost to the eurozone’s bailout facility to protect the banking system from the fallout of the Greek debt crisis.
The Times has learned German officials are studying plans to increase the fund’s effective size by €1 trillion ($1.4tr) to buy up high-risk sovereign debt, in a scheme similar to the $US700 billion ($712bn) bank bailout in the United States approved by George Bush in 2008.
The plan to restructure the European Financial Stability Facility (EFSF) came as Greece’s latest pledge to honour its €350bn debt mountain failed to impress central bankers and IMF officials gathered in Washington.
Evangelos Venizelos, the Greek Finance Minister, insisted his country was not big enough to cause a “domino effect” across Europe, but EFSF officials and central bankers were already focusing on the need to muster “overwhelming force” to prevent the Greek contagion spreading.
After a meeting later with Christine Lagarde, the managing director of the IMF, Mr Venizelos admitted: “If we don’t make these sacrifices, our sovereignty is at stake.”
