The IMF (who are these assholes, really I mean who are they? no country, no assets, no resources just political hot air!) have expanded the "New Arrangement to Borrow" by $500,000,000,000.00 (previous limit $50,000,000,000.00, kinda scary when you see it in numbers rather than say $500bn). Apparently they were tired of being upstaged by old Printing Press Ben and decided to create a half-trillion dollars out of thin air, all at once, you know, just in case somebody (Greece, Portugal, Ireland, Spain....hell just about anybody that can bamboozle their proles) would like to sell their taxpayers into debt-slavery for the next zillion years or so. You have to admit these guys think big, none of this creeping QE for them, no POMO dribble, they went straight to the money-shot (bad pun, I know) increasing the fund by 1100%.
The newly enhugeified (yes, I just made that word up) balance "will boost the fund's ability to prevent or resolve economic crises". Ahhh, nothing like some Central Planning to smooth things along; I mean what could possibly go wrong with that?
The Race to The Bottom just went into Super-Turbo-Hyperdrive, weeeeeeee!
I hope you hold some precious metal, because at the rate they are printing this stuff there soon will be no trees anywhere. On the upside the planet will be set for toilet paper for the next ten thousand years.
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