Via Scoop.it – Foreign Affairs
It goes like this: private banks borrow from governments, governments borrow from FMI, FMI gets its money from governments, banks buy tresasury bonds… In a more truthful world, this would be called a Ponzi scheme (rough translation of of a great stus status update….) “A European proposal to channel central bank loans through the International Monetary Fund may deliver as much as 200 billion euros ($270 billion) to fight the debt crisis, two people familiar with the negotiations said.”
Via www.bloomberg.com
