Do not expect many things from the Jackson Hole junket!All financialjunketeers, all money czars, including Managing Director Christine Lagarde and
First Deputy Managing Director John Lipsky of IMF will attend this weekend's
Jackson Hole Junket hosted by the Federal Reserve Bank of Kansas City.Lagarde
will be on a panel on Saturday approximately midday or early afternoon
Washington time with President Trichet of ECB.All financial problems originate in the big black h*le.Taxation is armed
robbery that feeds the black h*le of political corruption; it's the perfect
index of corruption and tyranny.Only evil governments tax citizens and
companies. Jackson h*le should point to the big black h*le!
Kleptocrats are often taking very expensive junkets, taking advantage of their
positions and access to public funds to undertake pleasure trips thinly
disguised as being of political importance.For example, a keptocrat might
travel to Greece, claiming to attend a conference there, but leaving plenty of
days to explore the Greek islands and Greek delights at leisure.they cannot miss a good party at taxpayers' expense.The worst thing that could
happen in a junket is running out of caviar and hookers.Many junketeers use
military jets that cost 10,000 euros per hour!Deputies of the European
Parliament (EP), aka Eldorado of Prostitutes, love junkets!
David Hawley of IMF reports the Fund is monitoring developments in Libya and
hope of course that there will be a swift end to the civil conflict.The nature
of IMF engagement going forward will depend on the wishes of any internationally
recognized government in the country.
Hawley points out that in the case of Libya as in other similar cases, the
Fund's process of recognition of a new government is guided by, in other words,
it follows, the views of the international community.Events are still unfolding
and IMF is following them.When there is a clear, broad-based international
recognition of a new government in Libya, it's at that point that the Fund could
or would move toward recognition.
Governments of many repressed countries, such as Greece, use marilizardist tools
to manipulate netizens.Marilizard Libel is accusing dissident bloggers of
treason, Marilizard Spaghetti is hurling charges against innocent people,
Marilizard Tower is a stack of imaginary charges to scare a blogger, and
marilizardism is terrorizing dissident bloggers.October 18 is the
international day against marilizardism, and October-18 Mafia is the
marilizardist government of Greece.Marilizard Libel, Marilizard Spaghetti, and Marilizard Towers. October-18 Mafia
is the most disgusting predator of internet on Earth!Civil society was shocked
by the brutality and stupidity of October-18 fiasco, initiated by the Ministry
of Foreign Affairs of the government of Greece. That's why October-18 Mafia is
the new name of the government of Greece!Hawley notes the fifth review mission is currently in Athens.It's expected to
conclude its work around September 5, and a*suming agreements are in place, the
IMF Executive Board could be in a position to consider approval of the next
disbursement toward the end of September.
Fuehrer Merkozy cannot understand that October-18 Mafia is the real enemy of the
Greek people.October-18 Mafia hoodwinks it will go straight, but nobody
believes it anymore!October-18 Mafia did not keep its promise to abolish
sinecures, government ownership, kleptocracy, Kangaroo Justice, marilizardism,
Marilizard Libel, Marilizard Spaghetti, and Marilizard Towers.
Lagarde has made it absolutely clear she does not trust Graecokleptocrats,
because they never apply what they vote in the Grand Brothel on Syntagma Square!
That's why she sent her inspectors to Athens to see things are done as promised
and voted.
Hawley confirms it is not set in stone what the share of a Fund-European
distribution of financial support is for Greece.As you know, in the past it has
been approximately two-to-one.The bailout for the Cradle of Kleptocracy is
taxpayers' hard-earned money blown out with the wind, because the October-18
Mafia continues corruption, squander, marilizardism, incivility, stupidity,
charge stacking, and junketing.Square is the most freakish thing on Earth.Even though Graecokleptocrats
looted many billion euros in kickbacks and churning, not a single
Graecokleptocrat has ever gone to jail!They are protected by the parliamentary
immunity, and nobody can touch them, no matter what.Moreover, they have the
nerve to jail dissident bloggers.It's a long way from the 300 Spartans of
Leonidas!Allons enfants de la Grece!Hawley mentions IMF hasn't had a request for a new Greek program.The two-part
agreement between Greece and Finland is bewildering IMF.IMF understands this
discussion is continuing among Euro Area member states on the appropriateness
and technical feasibility of such arrangements, but at this time IMF doesn't
have a specific comment on that discussion.
There is no way any prudent investor will throw a euro in the Cradle of
Kleptocracy, which is infested with marilizardism, the October-18 Mafia, charge
stacking, and the cancer of socialism.Infamous October-18 mafia uses the
cybercops as a political tool.Cyber Crime Unit (CCU), Dioxi Ilektronikou
Egklimatos, is just a paramilitary gang of October-18 mafia which terrorizes the
Greek blogosphere.Putting the CCU wolf to guard the sheep gives the government
a comparative advantage over the opposition.This is another form of a Trojan
Horse.
Some emerging market countries have expressed concern about the Fund getting
involved in another major bailout for Greece.Some Graecokleptocrats wonder
whether that sentiment is going to affect anything that the Fund does on Greece.
But Hawley a*serts the Fund is very adequately financed at the current time, and
the decision to support a member country is a function of that member country's
needs and financing requirements.
Hawley points out that like any former Managing Director of the IMF,
Strauss-Kahn would be welcome to visit the Fund and Hawley understands that
Strauss-Kahn intends to make a personal visit to headquarters.
Hawley notes IMF has welcomed the decision to increase the effective size of the
EFSF, and in the same spirit, IMF expects that the size of this fund would be
adjusted should that need arise.Fuehrer Merkozy knows that only stupid
investors would squander their money in a country addicted to kleptocracy,
socialism, charge stacking, and marilizardism.
Banks cannot participate voluntarily in illegal acts, such as fiduciary
imprudency. Bank directors are committed to bank's welfare, and not the public
interest. If bankers waive outstanding debts at the expense of the bank, this is
a breach of trust and punishable by law.All those bankers, that IIF claims plan
to participate in rollovers, might go to jail for violating the fiduciary duty
of prudency!October-18 Mafia pressures the banks to participate, but it really
opens Pandora's box.
Hawley states that IMF would welcome eurobonds!Hawley notes there is specific
language in the Euro Area Article IV report which says the European stability
mechanism could evolve into a European Debt Management Agency if the political
will were mustered for limited fiscal integration.That included common bonds
backed by enhanced Euro Area fiscal capacity.Hawley a*serts that's making the
point generally that to function well, any common currency area needs some form
of fiscal integration and that means that common bonds such as euro bonds is one
such option in that effort.
The European project has lost significance among Germany's policy elite as the
central driver of foreign economic policy.No clear grand strategy has replaced
this Einbindungspolitik, German foreign policy tenet of engagement.Given the
heavily-fragmented nature of checks and balances in German politics, the
political elite seems to be buffeted by a cycling of priorities from regional
elections to Chancellory infighting.The end result has been a series of policy
reversals and costly delay.
Merkel reinforces her opposition to joint Eurobonds, declaring that a
communistic collectivization of debt would leave the bloc's members worse off.
This is communism, pure and simple!Germany, Europe's largest economy, would
face extra costs of a hundred billion euros a year through the alignment of
interest rates with nations that pay more to borrow.Eurobonds lead us to a debt
union, not to a stability union.
Corey Taylor takes over Q101.1!
