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IMF Gains Power to Create Currency (Special Drawing Rights)

4,061 views · Published 7 April 2009 · 7:09 · Indexed 30 October 2026

Channel: DEMCAD · 2009 · Howto & Style

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The Twilight Zone - The Shelter-S03E03
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http://www.joost.com/0945njv/t/The-Twilight-Zone-The-Shelter#

The G20 moves the world a step closer to a global currency
•A single clause in Point 19 states the following:
•"We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,"
•SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund
•Its been around for years, but now it is being activated
•In short, the G20 leaders have given the IMF the power to create money
•After the meeting, the IMF crisis fund tripled to $750bn
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The-G20-moves-the-world-a-step-closer-to-a-global-currency.html

Citigroup chairman: bankers being 'vilified'
•Richard Parsons, Citigroup Inc.'s new board chairman, said financial institutions are being blamed for creating the nation's financial crisis, but they aren't the only ones responsible.
•"Everybody participated in pumping up this balloon. Now the balloon has deflated," 
•"Everybody, in reality, has some part of the blame. But it's much more in the culture to find a villain and vilify the villain."
•*This doesnt surprise me, because this how Americans are. See, Americans are never responsible for anything. Its always someday else fault. 
•*Should all of the blame go to the banks? No. I blame the Federal Reserve, too.
•*But lets blunt, the banks are being vilified, because theyre villains.
http://apnews.myway.com/article/20090407/D97DIVI01.html

RBS May Cut 9,000 Jobs to Help Repay U.K. Bailout
•Royal Bank of Scotland Group Plc, the biggest bank controlled by the U.K. Treasury, may eliminate an additional 9,000 jobs worldwide as it seeks to repay a government bailout.
http://www.bloomberg.com/apps/news?pid=20601087&sid=anQY8bkIzBxQ&refer=home

U.S. Jobs Index Dropped to 90.1 in March, Indicating More Cuts
•The Conference Boards Employment Trends Index last month decreased 2.3 percent to 90.1, the lowest since February 1994
•The weak demand is driving more companies to make layoffs.
http://www.bloomberg.com/apps/news?pid=20601068&sid=aQNjXoP6EovA&refer=home

Theme-park giant Disney cuts 1900 jobs
•Fifty of Disneys 600 high-level management executives in Orlando and California accepted buyouts
http://www.etravelblackboard.us/showarticle.asp?id=88007

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