International Forecaster April 2012: Gold, Silver, Economy + More

by Bob Chapman, The International Forecaster via

We’ve all heard the old adage about adding insult to injury but the IMF has turned it into an art form. The new IMF Director, Christine Lagarde, came to Washington this week begging for yet more billions so the fund can continue propping up insolvent European banks and wrapping developing countries around the globe in debt chains. Lagarde is on a political junket with the aim of raising an additional $500 billion for the IMF, money that will be used for future Eurozone bailouts and other financial crises, or so they say. The speech was delivered 64 years to the day after Truman’s signing of the Marshall Plan (coincidence, surely) as she asked the American taxpayers to search their hearts, take one for the team and dig deep to help foot the bill for Europe. Except this is not 1948 and Europe is not recovering from the Nazis. It’s 2012 and the Eurozone is falling apart at the seams because it was a failed concept from the beginning. The cracks in the Euro have been showing for years, despite the best efforts of the Goldman Sachs gang to paper over the debt swap deal that helped Greece lie its way into the Eurozone and helped Goldman earn 12 percent of its entire trading and investment revenue in 2001 on a single day. Lagarde didn’t mention this in her speech, but she did assure the crowd that at the IMF “your money is used prudently.”

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