LarouchePac: London’s Eurobloc is crumbling

Image: sdmania / *

London’s Eurobloc Is Crumbling

April 26, 2012

With the European banking situation beyond desperate, and disintegrating rapidly, the British have been urgently pushing to establish the ESM by July, as a platform for the kind of hyperinflationary bailout required — i.e., in the order of magnitude of $9 trillion, not the silly (and non-existent) $430 billion the IMF announced last Friday. Continue reading


Ellen Brown: Imposing austerity on Canadians could have been avoided

”Why are governments paying private financiers to generate credit they could be issuing themselves, interest-free?”

Between 1939 and 1974, the government actually did borrow from its own central bank.  That made its debt effectively interest-free, since the government owned the bank and got the benefit of the interest.”

The difference is simply that a publicly-owned bank returns the interest to the government and the community, while a privately-owned bank siphons the interest into its capital account, to be re-invested at further interest, progressively drawing money out of the productive economy.”     
Ellen Brown

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IMF Rating: Downgraded to very negative outlook

First, second and third worlds map / Wiki image *

Press release

The CADTM downgrades its IMF rating and places this institution on very negative outlook.

Committee for the Abolition of Third World Debt (CADTM)

February 6, 2012 

The Committee for the Abolition of Third World Debt (CADTM) has decided to downgrade the IMF’s rating due to this institution’s heavy share of responsibility for the deterioration of people’s living standards in countries subjected to austerity policies it has openly imposed or dictated from behind the scenes. The resulting high levels of unemployment, aggravation of the crisis and the increase in public debt of the States following its counter productive and unjust recommendations justify downgrading the IMF’s rating from NNN to NO-with a further very negative outlook. Continue reading

Argentine President Slams IMF Murderous “Idiocy and Stubborness”

Presidente Cristina Fernández de Kirchner / Wikimedia Commons *

those directly responsible for Argentina’s 2001 failure, and today’s in Europe and the United States, are still trying to force the world to swallow the same medicine”  Cristina Fernandez de Kirchner, President of Argentine

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