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The G20 may let the IMF print up to $250B more in SDRs, its special currency, to help resolve...

The G20 may let the IMF print up to $250B more in SDRs, its special currency, to help resolve the eurozone crisis, the WSJ reports. The SDRs would theoretically help assure investors that countries such as Italy had a pool of reserves they could tap in an emergency, and so lead to lower borrowing costs.
Comments (13)
  • pdtor
    , contributor
    Comments (1486) | Send Message
     
    NO F@$#$# WAY. LET EUROPE CLEAN UP ITS OWN MESS. AN OTHER UNELECTED AGENCY INCREASING SPENDING AND OUR TAX DOLLAR, WITHOUT OUR SAY SO. LET US HAVE A REFERENDUM HERE IN CANADA AND THE U.S. AND SEE IF WE WANT TO SUPPORT THOSE EUROPEANS TO RETIRE AT 50 AT OUR EXPENSE.
    4 Nov 2011, 06:38 AM Reply Like
  • User 353732
    , contributor
    Comments (4787) | Send Message
     
    If printing money ever led to anything other than currency debasement and cruel inflation in daily essentials the Weimar Republic would have been the most prosperous and stable polity in European history.

     

    Lies beget bigger lies which beget massive lies until all the structures and ideologies built upon these lies collapse on themselves.

     

    Financial terrorism is the most frequent and most lethal form of terrorism in human history.

     

    The West is starting to manifestly fall on itself and Central Banks are among the prime causes of willed self destruction.
    4 Nov 2011, 07:24 AM Reply Like
  • fxmaven
    , contributor
    Comments (1455) | Send Message
     
    Thank you for making investing ooh so simple - buy gold and gold miners. Now I can leave for winter holidays.
    4 Nov 2011, 07:43 AM Reply Like
  • wyostocks
    , contributor
    Comments (7628) | Send Message
     
    Are they F**king crazy?
    Have we reached the bottom of the desperation barrel or what?
    4 Nov 2011, 07:56 AM Reply Like
  • Tom Guttenberger
    , contributor
    Comments (717) | Send Message
     
    SDR components:0.6320 (44%) Dollars, 0.4100 (34%) Euros, 18.4 (11%) Yen, 0.0903 (11%) Pounds.

     

    I've said it before, if developing countries had more of a share in the IMF they wouldn't have let the trade imbalances, and therefore sovereign debts, reach these levels in the first place. At this point, there isn't a more feasible solution than diluting our way out of the jam.

     

    Euro should be broken apart, and BRICs need to have a meaningful stake in the IMF or it will be groundhog day in no time.
    4 Nov 2011, 08:10 AM Reply Like
  • Regarded Solutions
    , contributor
    Comments (15469) | Send Message
     
    wait a second my friends....lets think about this.....in the past, the USA has inflated its way out of our little (or big) messes....and it has worked in the way that austerity measures, and belt tightening has never worked during a recessionary spiral......since austerity stunts growth and easier money spurs growth and investment, but leads to inflation, which one would you choose?

     

    It is easy to say that everyone should clean up their own mess, but in todays interconnected world, it is everyones mess.....and the choices need to address all the issues and looking back, seeing what has worked, and what has not......we can fight inflation in 3-5 years, but right now...we need to print our way out and claw our way back.

     

    Just my opinion.....and please, remember that during OUR depression era(1929-1939), tightening didnt work....spending did....and that my friends was the printing of money, and liquidity.

     

    WOW, no easy answers these days.....sheesh!
    4 Nov 2011, 08:10 AM Reply Like
  • old.frt
    , contributor
    Comments (26) | Send Message
     
    Spending did not work to bring us out of the Great Depression--WWII and full employment building munitions and war materials, brought us out.
    4 Nov 2011, 04:11 PM Reply Like
  • WMARKW
    , contributor
    Comments (10251) | Send Message
     
    Aside from the fact the IMF is a non-sovereign entity with no taxing authority to extract money from anyone, who in their right mind thinks 250 Billion will resolve anything?
    4 Nov 2011, 08:44 AM Reply Like
  • Regarded Solutions
    , contributor
    Comments (15469) | Send Message
     
    you are correct, it aint enough.....its just a toe in the doorjam.
    4 Nov 2011, 08:52 AM Reply Like
  • dividend_growth
    , contributor
    Comments (2878) | Send Message
     
    250B is not nearly enough.

     

    Force ECB to print first and bury Germany's Fourth Reich dream.

     

    Euro should never become an alternative to USD, for our own sake.
    4 Nov 2011, 11:07 AM Reply Like
  • HiSpeed
    , contributor
    Comments (1063) | Send Message
     
    More bad ideas from the IMF - the Euros need to learn how to live on a budget if they want longevity.

     

    The historical failure rate for Socialism remains at100%.
    4 Nov 2011, 05:09 PM Reply Like
  • Mutated Photon
    , contributor
    Comments (5) | Send Message
     
    The world economy hit an iceberg a few years ago, and we all know what that means. Problem is folks who know what is going on below the waterline are not being heard. As long as the masses as happy with the musical deck chairs game nothing will change. Once ship starts to have a severe list, the band stops playing, will it be panic or acceptance?
    4 Nov 2011, 06:47 PM Reply Like
  • pippadoc
    , contributor
    Comment (1) | Send Message
     
    The euro has been with us for just over a decade - why has it become so indispensible?
    4 Nov 2011, 07:10 PM Reply Like
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