IMF tells states to plan for the worst

Governments might have to intervene with taxpayers’ money to shore up the financial system and prevent a “downward credit spiral” from taking hold, the International Monetary Fund said yesterday.

John Lipsky, the IMF’s first deputy managing director, said: “We must keep all options on the table, including the potential use of public funds to safeguard the financial system.”

By Krishna Guha in Washington

Published: March 13 2008 02:00 | Last updated: March 13 2008 02:00

Source Financial Times

The U.S. Dollar Is Being Destroyed

The global economy is falling apart all around us. We can expect a continued rise in the price of gold and silver as it is becoming increasingly apparent that the Federal Reserve, the U.S. government and even Alan Greenspan are doing everything they can to destroy the value of the U.S. Dollar. In fact, the policies currently being implemented by the establishment is criminal because by devaluing the U.S. Dollar they are indirectly robbing from the American middle class by destroying the purchasing power of everyone’s bank accounts that are denominated in U.S. Dollars. At this point it is becoming increasingly clear that the establishment wants a weaker U.S. Dollar considering some of the insane policies they are implementing and insane things that they are saying.

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What makes this rise in precious metals particularly interesting is the fact that the IMF has been dumping gold on to the market and gold continues to move up in value. The manipulation of the gold market is starting to fail as is the policy of managing a slow decline of the U.S. Dollar without a parabolic rise in precious metals. The rise in silver has been particularly spectacular rising around $1 in price yesterday and it shows no signs of slowing down. At this point we could easily see gold at $1,000 an ounce and silver at $20 an ounce within the next month or two. So why is all of this happening? Let’s take a look at some of the news that has come out in the past few days.

Read moreThe U.S. Dollar Is Being Destroyed

Gold futures rebound as dollar drops – METALS STOCKS

NEW YORK (MarketWatch) — Gold futures reversed earlier losses on Tuesday, as the dollar fell against major counterparts on bleak U.S. economic data, while traders reconsidered the importance of an expected sale of gold reserves by the International Monetary Fund.

Gold for April delivery gained $8.40 to end at $940.50 an ounce on the New York Mercantile Exchange.

Gold futures had fallen Monday after a senior Treasury official said the U.S. supports the proposed sale of part of the gold reserves held by the IMF.

“But there is an understanding that the IMF issue is minor at best,” said Brien Lundin, president at Jefferson Financial. “The sale still needs congressional approval, which remains doubtful, and the amount would be minor anyway.”

“In the past, IMF gold sales have typically marked a buying opportunity for people who had missed a rally,” Lundin said.

Read moreGold futures rebound as dollar drops – METALS STOCKS

10-Year U.S. Strategic Plan For Detention Camps Revives Proposals From Oliver North

Editor’s Note: A recently announced contract for a Halliburton subsidiary to build immigrant detention facilities is part of a longer-term Homeland Security plan titled ENDGAME, which sets as its goal the removal of “all removable aliens” and “potential terrorists.” Scott is author of “Drugs, Oil, and War: The United States in Afghanistan, Colombia, and Indochina” (Rowman & Littlefield, 2003). He is completing a book on “The Road to 9/11.” Visit his Web site at http://www.peterdalescott.net.

The Halliburton subsidiary KBR (formerly Brown and Root) announced on Jan. 24 that it had been awarded a $385 million contingency contract by the Department of Homeland Security to build detention camps. Two weeks later, on Feb. 6, Homeland Security Secretary Michael Chertoff announced that the Fiscal Year 2007 federal budget would allocate over $400 million to add 6,700 additional detention beds (an increase of 32 percent over 2006). This $400 million allocation is more than a four-fold increase over the FY 2006 budget, which provided only $90 million for the same purpose.

Both the contract and the budget allocation are in partial fulfillment of an ambitious 10-year Homeland Security strategic plan, code-named ENDGAME, authorized in 2003. According to a 49-page Homeland Security document on the plan, ENDGAME expands “a mission first articulated in the Alien and Sedition Acts of 1798.” Its goal is the capability to “remove all removable aliens,” including “illegal economic migrants, aliens who have committed criminal acts, asylum-seekers (required to be retained by law) or potential terrorists.”

There is no question that the Bush administration is under considerable political pressure to increase the detentions of illegal immigrants, especially from across the Mexican border. Confrontations along the border are increasingly violent, often involving the drug traffic.

Read more10-Year U.S. Strategic Plan For Detention Camps Revives Proposals From Oliver North