Wednesday, Oct 29, 2008
You heard it first in the SUN....well, probably elsewhere as well.
The Sun: World bank is going bust
THE world’s bank — the International Monetary Fund — is going BUST and must be bailed out, Gordon Brown warned last night. ***Hope there is some left when we need it....
Posted by whostolemyendowment @ 04:29 PM (1073 views) Add Comment
10 Comments
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1. jonb said...
The World Bank and the International Monetary Fund are two completely different institutions, but I guess you wouldn't expect the Sun, or their readers, to understand that.
2. crutchley said...
There's a difference between 'The World Bank' and 'The world's bank' - which is what i think they're getting at
3. charlie brooker said...
The good news is that the Rovers running about of the surface of Mars have discovered an alien bank there and they are kindly offering Earth the chance to consolidate all its monthly outgoings into one manageable monthly interplanetary repayment.
4. cornishman said...
"China is cash-rich, having spent ten years banking profits in a special fund rather than investing them abroad."
- so Brown is 'urging' them to cough up now and help the West out.
In just the same way as any prudent savers in UK now have to cough up to cover the losses the reckless have made.
The man has robbed our pension funds, spent our children's incomes before they come of age and have any say in the matter, forced them to pay interest on the bailouts for the next god-knows-how-long, approved the confiscation of spare funds in dormant savings accounts...
And now he's run out of any money in the UK, he's scavenging around the world looking for any more money he can get his hands on, anywhere.
A bit like people do just before they throw the towel in and declare themselves bankrupt.
5. Whostolemyendowment said...
Similar & more indepth from the FT
www.ft.com/cms/s/0/f718f7c8-a55a-11dd-b4f5-000077b07658.html
6. Alan Lubin said...
spare any change?
7. 51ck-6-51x said...
Nice summary cornishman - ever the astute individual.
8. Pete said...
cornishman don't forget the private finance initative (PFI) debt Gordon Brown has hidden..about £60 billion at last count. Will reposession figures include shiney new schools and hospitals?
9. planning4acrash said...
This appears to be preparing us for a global tax. How else will they afford this?! Fortunately, global cooling will make it very difficult to sell a global carbon tax. Wonder how the Americans will take to an explicit global poll or income tax?! I mean, Massachusetts's are currently voting on whether to scrap the Federal Income Tax!
10. Fence said...
Nice post cornishman. Brown presumably wants to go down in history but is too thick (or vain) to realise these pallatives will bot survive the passing of time that makes history. Greenspan is not looking so smart now (no-one calling him the "Maestro" anymore or asking for him back) and that was not so long ago. Stupid. Really stupid.