The ECB standing firm, or rather having some semblance of a firm standing in the face of disaster has so far prevented the money-printing necessary to bail out the entire eurozone. Despite buying both Greek, Italian and Spanish bonds, these operations have so far been "sterilized", which means that the ECB sells other assets so the money supply is not inflated. Unfortunately, this is the reason that Europe is staring into the abyss, while the US is looking a bit more perky due to the mad scientist Bernankes frivolous use of asset purchases. Well, here comes the IMF to the rescue.
In what can only be described as the most evil monetary plot ever, the IMF is planning on bailing out Italy (and possibly Spain?) by lending them money. Their own money, which they previously have contributed to the IMF. This remarkable idiocy has likely been dreamed up by the globalist financial elite as the ultimate way of deluding people into thinking that the situation will be saved, without printing more money. There is only one problem - the money from the IMF comes from the contributing countries central banks.
What will happen is this - central banks will print money, hand it to the IMF, who will lend it back to soon-to-be-serf nations of Southern Europe, while simultaneously demanding different austerity programs in return. It doesn't take a genius to figure out who will benefit from this, and how. Likely, vast swaths of public assets will be "liberalized", at the order of the IMF, and by "liberalized" I mean sold at undervalued prices to corporate friends of the financial elite. We can only imagine what ingenious financial constructions will be created to suck every last penny of value out of whatever state assets that taxpayers have previously paid for, and will now have to surrender to private friends of the financial elites. Why? To be given loans by the IMF, of their own money.
Let me note that I am not against moving assets from public mismanagement to private hands. But this should NOT be done to the benefit of globalist schemers and detriment of citizens, rather such assets (utilities, banks, infrastructure, etc.) should if they are to be privatised be handed back to the citizens that paid for them through taxes. But let's face it - the governments of the West are completely dependent on the financial fraudsters that run the global banking complex, and they really aren't interested in what would be good for any of the European economies. They are interested in creating more financial assets they can arbitrage value out of, through inflationary policies.
The downside of all this? It will be the final piece necessary to start a global inflationary bonanza of unprecedented scale. In addition to this, the Greek protests over losing their sovereignty to the "Troika" will spread through the entire Southern Europe, and the probability of uprisings against the national governments will increase significantly. It's a very nasty secret that neither the welfare statists nor the corporatist elite would like to confess - the fact that they are in a mutually dependent relationship which serves to impoverish the average citizen, and enrich both the financial elite and government bureucrats.
But none of this will last more than a few years. What will happen, I wonder, when inflation burns across Europe and the actions of the ECB will be pointless, as long as new money can be funneled to the markets through the IMF intermediary, to continue to enable government overspending? We are seeing the final moves of a failing financial era, and when it is over not much will be the same. Since 2008, it has become increasingly obvious that the global banking elite have overplayed their hand, and the only way to keep the status quo ponzi game running is to inflate at increasing speeds. It shouldn't be too long before this starts being felt in earnest in consumer prices, and at that point we ask : What now? Game over?
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