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Posts Tagged ‘belgium’

IMF Prepares For “Threat To International Monetary System”

March 26, 2011 Comments off

zerohedge.com

Back in April 2010, before Waddell and Reed sold a few shares of ES, effectively destroying the market on news that Europe was insolvent, we made the following observation: “The IMF has just announced that it is expanding its New Arrangement to Borrow (NAB) multilateral facility from its existing $50 billion by a whopping $500 billion (SDR333.5 billion), to $550 billion.” Little did we know that our conclusion “something big must be coming” would prove spot on just a month later after Greece, then Ireland, then Portgual, and soon Spain, Italy, Belgium, and pretty much all other European countries would topple like dominoes tethered together by a flawed monetary regime. Well, based on news from Dow Jones we can now safely predict the following: “something bigger must be coming.” As if the IMF’s trillions in open lending facilities (many of which have recently been adjusted to uncapped) were not enough, we now learn that the world lender of last resort (which in theory is the Fed, but apparently Bernanke has been getting a little Read more…

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Concern about mission creep grows as more bombs fall on Libya

March 22, 2011 Comments off

theglobeandmail.com

Barely 48 hours into the Libyan war, the American general running the air strikes came under fire about mission creep even while insisting that allied warplanes won’t hunt Moammar Gadhafi or back the rebels seeking to oust him.

“I have no mission to attack that person. And we are not doing so. We are not seeking his whereabouts or anything like that,” said General Carter Ham, U.S. regional commander for all of Africa.

Concerns over mission creep continue to be raised around the world – including in Canada – as a new set of strikes hit Triopoli late Monday. On a day in which Canadian CF-18s flew their first missions over Libya and Defence Minister Peter MacKay said Canada had a “moral duty” to participate, all four opposition parties endorsed Canadian involvement in the mission but pressed for details over how long the mission would last, what it would cost, and how it would Read more…