Hypocrisy

Hot on the heels of the resignation of an IMF insider, The Telegraph (and countless other main stream publications) tell us with a tone of bewilderment that:

“The International Monetary Fund deliberately suppressed evidence that Europe was heading for a debt crisis, according to a blistering resignation letter from a senior economist at the fund”.

If our leaders, main stream pundits and economists need the IMF to warn them of the inevitable brick wall built into our monetary model, the inescapable conclusion is that our leaders and their acolytes must have an agenda. It is mathematically impossible for everyone to be unable to calculate the ramifications of this:

FRED Graph
FRED Graph
Now that a 20 year veteran of the IMF for God knows what reason stormed out of the building in a huff blaming all and sundry for what he suddenly feels is a wasteful, self serving corrupt entity (and I suspect it may be something personal that made Mr. Doyle throw his toys out of the pram after 20 years of riding the gravy train), the press and the punditry are shocked, shocked I tell you, that something like what Mr. Doyle describes in his letter may be going on at the IMF.
If some of you may wonder what the IMF has to do with US GDP and Debt figures, then you have not understood the implications of the US$ as a reserve currency let alone the implications of a Floating Exchange Rates.
All together now. We are shocked!
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3 Responses to “Hypocrisy”

  1. Patrick Donnelly Says:

    I know how he feels and I was tossed aside by the Irish tax office in 2003.

    The chap who was responsible for auditing banks and insurance companies had been killed, on his bike, commuting. The wife of the man who was collecting bank branches where there were thousands of evaders was cut in two by a shotgun. Both had difficulty accepting that they should stop what they were doing. My boss had no such difficulty and his Investigation into the largest bank was shut down. He was eventually promoted, after a delay of 6 years, for defying the first request to shutdown.

    I made it clear that the government was in cahoots with the banks. Deafened, I was, by the silence!

    Then the EU allowed the government to increase bank reserves, formerly the taxes evaded by many, by giving a 25% increase, in the capital sum, of deposits made into Irish banks over the next 5 years!

    Bank growth of 30%!

    How did the Irish banks manage to over lend? ….. errr I have no clue!

    I have been in Australia ever since my departure. At least I and my family are alive.

    Who made all the money?

    • guidoamm Says:

      Patrick,
      You have certainly lived an interesting life. Why not consider a book?

    • guidoamm Says:

      Although, of course, I doubt that the Irish Tax Office is a gravy train as the IMF is.

      I find it hard to believe it took Mr. Doyle 20 years to figure out what was going on in his organization and the wider world as conceived by the IMF. Chances are he benefited greatly himself till he fell out with someone for whatever reason and now feels like lashing out… but that’s all he is doing… lashing out…

      Like the World Bank or the United Nations, the IMF is not something anyone is going to go investigate any time soon. These are entities stuffed full of the great and the good of the world of politics and finance whose existence is not only protected by the immunity and reverence our political and educational systems have inculcated in the minds of the population as being owed to high officials, but also because it is predicated on the end justifying the means by dint of nothing but their perceived Raison d’Etat.

      In this case however, the raison d’etat peddled by these entities is the perpetuation of a supranational scheme as represented by the US$ Fiat Monetary System and Fractional Reserve Banking.

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