Christine Lagarde, IMF Chief, Asks U.S. To Raise Borrowing Limit
By CHRISTOPHER S. RUGABER 07/10/11 09:19 AM ET
WASHINGTON -- The International Monetary Fund's new chief foresees "real nasty consequences" for the U.S. and global economies if the U.S. fails to raise its borrowing limit.
Christine Lagarde, the first woman to head the lending institution, said in an interview broadcast Sunday that it would cause interest rates to rise and stock markets to fall. That would threaten an important IMF goal, which is preserving stability in the world economy, she said.
The U.S. borrowing limit is $14.3 trillion. Obama administration officials say the U.S. would begin to default without an agreement by Aug. 2.
READ MORE --> https://www.wnem.com/story/15054747/imf-chief-calls-on-us-to-raise-borrowing-limit
Come on Sammy.. you know you want another hit.. you like it.. you want it.. you know it. Go ahead.. raise the limit; you really want another hit so you can feel gooooood..
When all that keeps the financial system together is hope, cheap money and balance-sheet fraud, no one wants anyone to rock the boat. Better to sink slowly and surely, they seem to think.
Just wait and see what happens when Italy or Spain blows and Germany starts not wanting to pay for it again. Expect the "tanks-in-the-streets"-message to be broadcasted globally. Same thing probably goes for any serious effort to cut the US deficit, or if the Bernank gets a conscience and tries to up the federal funds rate more than 0.00001%
@DPH It's Bizarro World man!
Market Pulse Archives
July 10, 2011, 7:55 p.m. EDT
An epic lack of foresight, accuracy and rationale... https://www.tfmetalsreport.com/comment/170246#comment-170246
By Michael Kitchen
LOS ANGELES (MarketWatch) -- A closely watched meeting between congressional leaders and President Barack Obama to resolve the impasse over the U.S. debt ceiling ended Sunday after just 90 minutes, reports said. The relatively brief meeting had been expected to last four or five hours, Reuters reported. No immediate indications were offered over whether the meeting made progress toward a deal, the reports said. The gathering came a day after House Speaker John Boehner said Republicans would avoid a deal on a proposed $4 trillion package of cuts in favor of a small package of $2 trillion in reductions. Ahead of the meeting Sunday, Obama responded to a reporter's question on whether a deal could be reached within the next 10 days by saying: "We need to," according to Reuters.
Not a huge surprise. How is she going to pay for her 5 star meals and hotels if the US doesn't fund the IMF.
Obama can invoke the 14th amendment if he wants to.
Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
The keyword is 'pensions'. Social security classifies as a pension.
I don't think he wants to use it though, because he doesn't want to give credence to the document the NWO-cabal is out to destroy.
Of course Lagarde wants the US to raise it's debt limit. This way it helps to insure that when the US inevitably defaults they will be the last/only resort to either borrow from or systematically carve up the US much like Greece and force us to sell off our parks, buildings, highways, power plants, natural resources and any other public "assets" they deem valuable enough to "compensate" them. This way the IMF can own the US without one shot being fired. Even if a deal is reached, I do not believe it will be one with any lasting solutions. All of us on this site know what $2tril over 10 years means in relation to our pending financial meltdown. Squat.