Peter's Viewpoint

We as consumers are regulated in the amount of credit that we can borrow but countries weren’t and are still not bound to the same loan regulations.

In my last blog, I should have asked the question:
Who regulates how much money a country can borrow?
The answer is no one.  Each country can use and abuse it’s economy as it wishes because in the end, the people of the country will be the guarantor to repay the debt.  We are the spokes in the wheel that continuously rolls, moving the economies of the countries that we live and work on a daily basis.

My next question is:
Who are those that are behind the IMF?
The inferences by the actions of the EU community decisions that Greece and other European countries waiting in line for a hand out are going to get it through the IMF.  So it sounds logical that the same people that began the financial world crisis are the IMF waiting for easy customers to make consulting and loan interest fees.

The I.M.F. or International Monetary Fund are the bankers of the world.  They provide financial assistance to countries and act like cash buffers to cover the “over drafts” that countries may as one of their help services that work like a small business loan to cover pre-holiday business costs.  For countries that maybe considered a risk, they also help even if a country is on the threshold of bankruptcy.

What most people do not know is that one must be a member of this “club” to be able to receive these benefits and as with all worthy club memberships that fee is equal to a gold membership account.

The problem with the IMF is that it acts posthumous rather than prognosticated even though the IMF degrades the credit rating of any country that using its services.  With all the financial information that the IMF accumulates does this mean that they are performing their work to benefit those who provide trillions as money making global loan sharks?

These days, Greece became the first country in Europe to test whether or not Europe is united.  They have asked Europe to show a display of financial unification that the EU was originally established upon.  The outcome is once again more talk by Europe to discuss the idea of creating a European version of the IMF.  This alone constitutes the lack of faith that Europe has and why the interest rates have skyrocketed but also creates ambiguity that the IMF is just another group of golden boys.

The fact that Germany and France continue to vie for the leadership of Europe, and the fact that they consider Southern Europe as PIIGS, with the hint by Germany that Greece should be “expelled” from the EU, indicate that Europe is united only for border crossings and a single currency but nothing more.  In fact, this display of disunity regarding the unwillingness by Northern Europe to have a central financial assistance policy simply says that Union of Europe is a failure.

The horrific conclusion to all this is that, if countries that have been gulled into these investment scams decide not to repay the debts then the ultimate nightmare will be the loss that could bring the financial collapse of the USA.

Here is a video clip discussion with Max Keiser on Inside Story - Greek Debt Crisis.

If this video is not displayed, here is the link

and the link to the second part of the discussion.

Here is a link to a financial analysis and discussion by Daryl Bradford Smith regarding CDS or Credit Default Swaps and their involvement in the international crisis.