Okay, so I’m reading more about Greece’s little debt problem and a light begins to go on… like the largest contributor to the IMF is Mr. & Mrs. American Taxpayer. Yes, you got it – the US contributes nearly 20% of total commitments to their coffers and the next highest country is Japan at 6%.
Crap… so when you hear the IMF is rescuing another country think 1 out of ever 5 dollars coming from your own pocket.
Next up – check out this item in the Wikipedia article describing the IMF:
In 2008, faced with a shortfall in revenue, the International Monetary Fund’s executive board agreed to sell part of the IMF’s gold reserves. On April 27, 2008, IMF Managing Director Dominique Strauss-Kahn welcomed the board’s decision of April 7, 2008 to propose a new framework for the fund, designed to close a projected $400 million budget deficit over the next few years. The budget proposal includes sharp spending cuts of $100 million until 2011 that will include up to 380 staff dismissals.
Now give them credit… their deficits aren’t described with the word “billions”, but still – they’re broke too!
Whiskey Tango Foxtrot. The whole freakin world is bankrupt yet we’re still running around making loans to prop the whole mess up… it’s a global shell game!