IMF Chief Rato Joins Chorus Warning Financial System Is Finished!

4 de may de 2007

IMF Chief Rato Joins Chorus Warning Financial System Is Finished!

The International Monetary Fund (IMF) joined the Bank of England and the Federal Reserve in warning that the global financial system is a goner. The risks of "disruption in the financial markets" are serious, and, if there were a "sharp depreciation of the U.S. dollar" followed by increases in U.S. interest rates, things could get very serious, IMF Managing Director Rodrigo de Rato told the Council of Americas annual meeting on May 2.

Rato identified three areas which could blow:

* The U.S. mortgage market, whose problems are still playing out, he said.

* The "increase in large private equity buyouts financed by a rising proportion of debt, as well as the deteriorating credit quality of leveraged loans." If some of these deals were to turn sour, he said, credit for corporate borrowers could go, too.

* Hedge funds, 30% of whose investment today comes from pension funds, he reported. Rato, a Spanish banker with fascist ties whose name means what it sounds like, commented in his dry manner on this stunning statistic, which ought to get the attention of anyone serious in the U.S. Congress: "A situation where almost one-third of the capital for institutions on the cutting edge of financial risk comes from institutions whose first priority is safe investments certainly bears watching."

Commenting on the fact that 30% of the investment in hedge funds comes from pension funds, Lyndon LaRouche said this is not a natural thing. Rather it is a quasi-genocidal intention to loot the pensions of the world. The people responsible for this want to kill off old people as soon as possible.

Air Jordan