IMF poised to print billions of dollars in ‘global quantitative easing’
Note that when Simon Johnson, below, says that ‘everyone’ will get this new money plucked seemingly from the boughs of trees, he doesn’t mean you. He means international banks – which will then lend it to you, get you further into debt, and clean up on your assets (which decidedly do not grow on trees).
Flashback: IMF emergency fund is doubled to $500bn, Northern Rock bank granted $14bn bailout | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | Kissinger Calls For New International System Out Of World Crises | Jim Flaherty Urging Greater Federal, International Control over Canadian economy | IMF may need to “print money”, act as “world’s central bank” as crisis spreads
Edmund Conway, The Telegraph UK
March 16, 2009
The International Monetary Fund is poised to embark on what analysts have described as “global quantitative easing” by printing billions of dollars worth of a global “super-currency” in an unprecedented new effort to address the economic crisis
Alistair Darling and senior figures in the US Treasury have been encouraging the Fund to issue hundreds of billions of dollars worth of so-called Special Drawing Rights in the coming months as part of its campaign to prevent the recession from turning into a global depression.
Should the move, which is up for discussion by the summit of G20 finance ministers this weekend, be adopted, it will represent a global equivalent of the Bank of England’s plan to pump extra cash into the UK economy.
However, economists warned that the scheme could cause a major swell of inflation around the world as the newly-created money filters through the system. The idea has been suggested by a number of key figures, including billionaire investor George Soros and US Treasury adviser Ted Truman.
Simon Johnson, former chief economist at the IMF, said: “The principle behind it is that everyone would get bonus dollars and instead of the Federal Reserve having to print them, everyone gets them.
“The objective is to create a windfall of cash. However if everybody goes out and spends the money it could be very inflationary.”
Source | See Also under Money: G20 officials pledge ‘whatever action necessary’ to revive economy | Mainstream Financial Publication Finally Admits that Austrian Economists Were Right | UK Central Bank begins using ‘new’ money | Central bank tactics pushed to brink | IMF emergency fund is doubled to $500bn, Northern Rock bank granted $14bn bailout | EU backs sweeping new financial rules, more power for IMF | Gold Tops $1,000, First Time Since March as Recession Deepens | Zimbabwe drops state currency monopoly, pegs prices to US dollars | How realistic is a North American currency? | All maxed out? Budget measures would improve credit access | Gold surges past $900 mark | Prominent Economist: Crisis Caused By Government Interventions | Zimbabwe unveils 100 trillion dollar banknote | Bank of England cloaks books, fears of monetary manipulation arise | Canadians starting to save cash, shun debt | Analyst: One Third Of Banks Could Collapse or Merge In 2009 | Banks won’t say where U.S. bailout money going | UK: Bailiffs get power to use force on debtors | IMF Chief Warns Of Riots In Response To Economic Crisis | Bank of Canada ready to monetize distressed equities | The ugly spectre of ‘new Keynesianism’ and the self-appointed Guardians | ‘Outrage’ greets banks’ failure to match rate cut | Mexico to downsize metal in coins to save a few cents | Icelanders storm central bank in protest | UK closer to joining euro, EU commission president says | Iceland turns 90 amid economic ruin, currency freeze | Maybe we should look at Zimbabwe before trying to print our way out of a money crisis | Obama appoints architects of economic collapse, financial globalism to economic team | Paulson, Bernanke defend change of plan: $700-billion now to be given directly to banks | Manipulation Of Gold And Silver Prices Further Exposed | Now the consumer crunch: falling credit limits, rising interest rates | Coming soon to your cellphone: Your credit card via RFID chip | A New World Financial Order: It Better Work This Time | Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 | Ottawa to pour another $50B into mortgage markets | Bank of Canada adds $8B to credit markets | Fed Hides Destination Of $2 Trillion In Bailout Money | Flaherty lauds Keynesian global ‘economic stimulus’ strategies | Who are the Architects of Economic Collapse? | ‘Smart’ Credit Cards, Pilot Project set the Groundwork for Wireless Credit Wallets | Russian government calls for new World Order | New credit cards may shift unauthorized-transaction liabilities to the holder | IMF may need to “print money”, act as “world’s central bank” as crisis spreads | Greenspan tells Congress he’s shocked by credit crunch | Ottawa to guarantee interbank lending | Globalists Exploit Financial Meltdown In Move Towards One World Currency | Wanted: a new financial order | EU leaders to meet Bush and plan “refoundation of capitalism” | Loonie leaps, then reverses course | Bush outlines radical plan to part-nationalise banks | World needs new Bretton Woods, says Brown | IMF prescribes state regulation of ‘global financial order’ | Behind the panic: Financial warfare over the future of global bank power | Tim Rogers: Global Bankers Have Unleashed Inflationary Holocaust | New World Order: Global co-operation, nationalisation and state intervention – all in one day | Federal Reserve Moves to Monetize Commercial Paper Debts | Bank of Canada greases financial system with $12B in new cash | Congressman Ron Paul: Bailout Will Destroy Dollar, World Economy | Canadian Supreme Court refuses to hear appeal in ABCP case | Bank of Canada piles on in global inflationary swindle | Central banks continue inflating global economy | Court Grants Big Banks Immunity from Lawsuits over Derivatives Losses | Financial ’super cop’ role for Fed | Ottawa warns on gold-backed Web trades | Inflation takes over as public enemy No. 1 | Fed eyes Nordic-style nationalisation of US banks | Treasury’s Plan Would Give Fed Wide New Power | Consider a continental currency: Jarislowsky | Globalization makes national currencies obsolete | Vicente Fox Admits Plan For Single NAFTA Currency | Fraser Institute: The Case for the Amero
March 18th, 2009 at 8:05 am
[...] Here is the original: statism watch » Blog Archive » IMF poised to print billions of … [...]
March 20th, 2009 at 9:26 am
[...] | See also under Money: IMF poised to print billions of dollars in ‘global quantitative easing’ | G20 officials pledge ‘whatever action necessary’ to revive economy | Mainstream Financial [...]
March 26th, 2009 at 12:42 pm
[...] future at risk of ‘inflationary outburst’ | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | G20 officials pledge ‘whatever action necessary’ to revive economy | Changes to law could [...]
March 27th, 2009 at 8:40 pm
[...] U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | IMF may need to “print moneyâ€Â, act as “world’s central bank†as crisis spreads | [...]
April 20th, 2009 at 10:46 am
[...] future at risk of ‘inflationary outburst’ | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | G20 officials pledge ‘whatever action necessary’ to revive economy | Changes to law could [...]
April 23rd, 2009 at 4:37 pm
[...] Congressman: Reckless Spending And Taxation Prolonged Great Depression | IMF poised to print billions of dollars in ‘global quantitative easing’ | Maybe we should look at Zimbabwe before trying to print our way out of a money [...]
May 13th, 2009 at 1:23 pm
[...] future at risk of ‘inflationary outburst’ | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | G20 officials pledge ‘whatever action necessary’ to revive economy | Changes to law could [...]
May 28th, 2009 at 5:47 am
[...] future at risk of ‘inflationary outburst’ | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | G20 officials pledge ‘whatever action necessary’ to revive economy | Changes to law could [...]
June 1st, 2009 at 4:49 am
[...] economy | US backing for world currency stuns markets | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | IMF may need to “print moneyâ€Â, act as “world’s central bank†as crisis spreads | [...]
July 23rd, 2009 at 4:38 am
[...] [...]
September 13th, 2009 at 12:09 am
[...] Summit | Which Banks Will Rule? | World Bank President Admits Agenda For Global Government | IMF poised to print billions of dollars in ‘global quantitative easing’ | IMF emergency fund is doubled to $500bn, Northern Rock bank granted $14bn bailout | How realistic [...]
October 17th, 2009 at 5:43 am
[...] IMF Back Agenda For Global Financial Dictatorship | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
October 24th, 2009 at 2:21 pm
[...] [...]
November 8th, 2009 at 3:18 am
[...] that if hyperinflation kicks in on a global scale, it will be that much easier for the IMF to assume control of the money supply as the differences in valuation between national currencies are erased in a race to the [...]
November 28th, 2009 at 9:02 pm
[...] hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
January 20th, 2010 at 8:09 am
[...] hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
January 29th, 2010 at 7:51 am
[...] hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
February 1st, 2010 at 10:18 pm
[...] hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
March 1st, 2010 at 10:45 am
[...] IMF Back Agenda For Global Financial Dictatorship | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
March 13th, 2010 at 8:39 am
[...] | US backing for world currency stuns markets | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
April 30th, 2010 at 7:09 pm
[...] hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
May 1st, 2010 at 12:09 pm
[...] [...]
May 2nd, 2010 at 9:46 pm
[...] IMF Back Agenda For Global Financial Dictatorship | U.N. panel says world should ditch dollar | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]
June 18th, 2010 at 4:15 pm
[...] hails new world order (again) | UN & IMF Back Agenda For Global Financial Dictatorship | IMF poised to print billions of dollars in ‘global quantitative easing’ | Gordon Brown seeks sweeping reforms to give IMF global ’surveillance role’ | IMF may need to [...]