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Imf To Inject 250 Bln Dlrs Into Members' Forex Reserves

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IMF to inject 250 bln dlrs into members' forex reserves

The International Monetary Fund said Thursday it would inject 250 billion dollars into member nations' foreign exchange reserves to

boost liquidity amid the global economic crisis.

Employing a rarely used tool, the IMF board of governors approved the allocation of Special Drawing Rights (SDRs) equivalent to 250 billion dollars, the multilateral institution said in a statement.

It was by far the largest general SDR allocation in the institution's six-decade history and will take effect on August 28.

The IMF board of governors endorsed on August 7 the proposed special SDR allocation that had been endorsed by the institution's executive board on July 17.

An SDR is an interest-bearing IMF asset that is based on a basket of international currencies - the dollar, yen, euro and pound - that is calculated daily and which members can convert into other currencies.

The general increase in SDRs was part of a 1.1 trillion dollar plan agreed at the Group of 20 summit in London in early April to tackle the global financial and economic crisis.

All 186 IMF member nations will share in the allocation "in proportion to their existing quotas in the fund, which are based broadly on their relative size in the global economy," the Washington-based institution said.

Haha. Looks like we can go forward, into the sunset, chin held high, with a fat wallet of borrowed USD!

"What has two thumbs and likes a thinly disguised IMF bailout?"

GordonBrownED.jpg

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im a member.

I bought a nice DIY cabinet in our local branch.

Im looking forward to my cheque.

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im a member.

I bought a nice DIY cabinet in our local branch.

Im looking forward to my cheque.

You are getting more and more jaded - hard not to when you know that the entire system is rigged.

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You are getting more and more jaded - hard not to when you know that the entire system is rigged.

It is amazing, they closed the local branch. Cant think where the money is coming from.

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It is amazing, they closed the local branch. Cant think where the money is coming from.

Calm down dear and don't worry - another junk shop selling unput-together-able funtiture will come along to distribute once in a lifetime double discount deals all year around, year in year out.

I am getting tired now - I doubt that we will ever get a real correction - the west know the jig is up and the powers that be are stealing all they can before they debase the currency completely and walk off with the loot.

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Guest Daddy Bear

Now now...move along please...nothing to see here.

mods can we get this moved to the abyss of the economic's section asap as I believe this might be inflationary - and may go against a HPC in nominal terms....?

It can join these troll threads......

Are we heading for a crack up boom?

http://www.housepricecrash.co.uk/forum/ind...howtopic=122623

What is left in Central bank arsenal to figh deflation

http://www.housepricecrash.co.uk/forum/ind...howtopic=122644

Signs Of Credit Loosening And Inflation Policies:, Let's Keep track: Money Printing and other changes

http://www.housepricecrash.co.uk/forum/ind...howtopic=121543

Much appreciated

DB

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Calm down dear and don't worry - another junk shop selling unput-together-able funtiture will come along to distribute once in a lifetime double discount deals all year around, year in year out.

I am getting tired now - I doubt that we will ever get a real correction - the west know the jig is up and the powers that be are stealing all they can before they debase the currency completely and walk off with the loot.

maybe, just maybe, things arent worse.

maybe, they were always like this. just that we didnt know about it.

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maybe, just maybe, things arent worse.

maybe, they were always like this. just that we didnt know about it.

Smack me up some more

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Criticism from free-market advocates

Typically the IMF and its supporters advocate a monetarist approach. As such, adherents of supply-side economics generally find themselves in open disagreement with the IMF. The IMF frequently advocates currency devaluation, criticized by proponents of supply-side economics as inflationary. Secondly they link higher taxes under "austerity programmes" with economic contraction.

Currency devaluation is recommended by the IMF to the governments of poor nations with struggling economies. Some economists claim these IMF policies are destructive to economic prosperity.

Complaints are also directed toward International Monetary Fund gold reserve being undervalued. At its inception in 1945, the IMF pegged gold at US$35 per Troy ounce of gold. In 1973 the Nixon administration lifted the fixed asset value of gold in favor of a world market price. Hence the fixed exchange rates of currencies tied to gold were switched to a floating rate, also based on market price and exchange. This largely came about because Petrodollars outside the United States were more than could be backed by the gold at Fort Knox under the fixed exchange rate system. The fixed rate system only served to limit the amount of assistance the organisation could use to help debt-ridden countries. Current IMF rules prohibit members from linking their currencies to gold.[citation needed]

http://en.wikipedia.org/wiki/International_Monetary_Fund

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It can join these troll threads......

Coming from the guy who's signature is a perpetual provocateur.

How about letting the forum decide what is what, and not jump to the role of censure extraordinaire in chief?

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Guest Daddy Bear
Coming from the guy who's signature is a perpetual provocateur.

How about letting the forum decide what is what, and not jump to the role of censure extraordinaire in chief?

SHEESH - How dumb are people on here! ? :lol::lol:

The other 3 threads were MY threads. :blink:

Anytine I ever write anything which points to inflation it gets moved to the economic forum within minutes.

I WAS BEING SARCASTIC !!!

Sometimes I think the numpties on here deserve all they get.... :rolleyes:

EDITED

signature is a perpetual provocateur

So that's it....my signature - it provokes peole -

Theisblinkered viewpoint and refusal to see anything other then a NOMINAL 50% HOUSE PRICE CRASH is going to cost alot of people on here very dear. Ah well.

Edited by Daddy Bear

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maybe, just maybe, things arent worse.

maybe, they were always like this. just that we didnt know about it.

Maybe - but I can't remember being so outwardly stolen from.

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Guest Daddy Bear
Maybe - but I can't remember being so outwardly stolen from.

1. Global Housing Market Bubble Bursts

2. Global Bank Lending Implodes

3. Global Economy Begins to Contract

4. Global Banks begin to Fail

5. Global Unemployment Soars

6. Global Banks are Nationalised

7. Global Interest Rates are Lowered Dramatically to 0%

8. Global Quantitative Easing will be carried out on a Massive Scale

9. Global (Inflationary) Default on Debt - (Bond Market Collapse)

10. Global Dash For Assets

11. Global Hyperinflation

12. Global New Currencies introduced

13. Global Political Unrest & Change

Well you were warned...

Can you see it now?

:D

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1. Global Housing Market Bubble Bursts

2. Global Bank Lending Implodes

3. Global Economy Begins to Contract

4. Global Banks begin to Fail

5. Global Unemployment Soars

6. Global Banks are Nationalised

7. Global Interest Rates are Lowered Dramatically to 0%

8. Global Quantitative Easing will be carried out on a Massive Scale

9. Global (Inflationary) Default on Debt - (Bond Market Collapse)

10. Global Dash For Assets

11. Global Hyperinflation

12. Global New Currencies introduced

13. Global Political Unrest & Change

Well you were warned...

Can you see it now?

:D

Relax DB - I've got my big gold condom on.

Nor you nor me know exactley what the score will be at the end of this fiasco - all'z I can say is that until wage inflation start to get going I'm not too worried about buying a hovel.

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