Brazil says it is to offer $10bn in financing to the IMF to help improve the availability of credit in developing countries.
It is the first time that South America's biggest economy has ever made a loan of this kind.
http://news.bbc.co.uk/...
Brazil's Finance Minister Guido Mantega said it was part of a united approach by Brazil, Russia, India and China to help boost global financial stability.
He said China had plans to invest $50bn and Russia $10bn.
In the past Brazil was more accustomed to seeking help from the International Monetary Fund and the fact that it is now able to offer a loan instead is a striking indication of how its position has changed.
Ahhh remember the days of yesterday when it was America doing most of the loans.
Now Uncle Sam says 'buddy can you spare a dime'....How sad that wanton greed by the elites prevailed in America.
Gorbachev warns that the world’s current economic model, created by "America’s elite," is "cracking"
Point of FACT: Obama and his Wall St bought and paid for economic team have put all their chips on the Banking Oligarchs !
As it comes undone, many will suffer, he predicted. "Including the United States."
In many respects he's right but most Americans today are too ignorant or complacent to demand REAL change
The Bilderberg Plan for 2009: Remaking the Global Political Economy
http://bit.ly/...
One Bilderberger said that, "the banks themselves don't know the answer to when the bottom will be hit." Everyone appeared to agree, "that the level of capital needed for the American banks may be considerably higher than the US government suggested through their recent stress tests."
Further, "someone from the IMF pointed out that its own study on historical recessions suggests that the US is only a third of the way through this current one; therefore economies expecting to recover with resurgence in demand from the US will have a long wait." One attendee stated that, "Equity losses in 2008 were worse than those of 1929," and that, "The next phase of the economic decline will also be worse than the '30s, mostly because the US economy carries about $20 trillion of excess debt.
Until that debt is eliminated, the idea of a healthy boom is a mirage.
But the MSM, the pundits, economist assclowns, and Obamanomics all say recovery is just ahead with many green shoots springing up ;)