Friday, April 11, 2008

Couldn't happen to a nicer bunch

Found at Ten Percent:
Yep one of the bastions of globalised neoliberal authoritarian imperialism has some thoughts about recession, like it had nothing to do with it…they also try to subtly threaten countries who don’t trade much with the US that they will still be hit, probably touting for new markets for corporate takeover enabling loans and now investment (their new trick). Because apparently they are so unwanted they are selling off their gold to keep themselves in poverty creating luxury-

The International Monetary Fund Monday proposed the sale of 403.3 tonnes of gold to bolster its sagging coffers as part of a wide-ranging financial overhaul. The sale, amounting to some 12 percent of its gold reserves, could yield around 11 billion dollars, IMF officials said, supporting a reorganization of the institution as it seeks to survive a downturn in lending to troubled countries.

The announcement comes with the IMF in the midst of an intense effort to trim costs and slash jobs as its lending is scaled back, with some countries refusing the IMF’s conditional aid.

The rest.

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