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And that's like printing USD???? Duh!

Read the link http://www.telegraph.co.uk/finance/financialcrisis/9216956/Britain-pledges-additional-10bn-towards-IMF-war-chest.html Here is the key part: Controversially, though, the Government will not have to put the extra funding to a Parliamentary vote because headroom was built...

Which part of the IMF's financial accounts indicates this?????

The IMF can't print money or so the last time I checked

How do you arrive at that analysis? The real default risk is a bankrupt IMF Will the IMF Bankrupt itself to save the euro?

Parliamentary approval YES A referendum??? I think NOT

Take it from a banker, YOU'RE THE PERFECT CUSTOMER! "lending is always risky, no difference between high or low risk" I'll let my repo desk know that ! As for your IOU, it's toilet paper when the fellow you make the loan to goes bankrupt

right now it's zero because zero money has changed hands

OK let's try it again THE UK GOVT SOUGHT AND GOT PARLIAMENTARY APPROVAL FOR THE IMF PLEDGE Clear now?

China made a 43 billion USD IMF pledge on the same terms! And you need to get it thru your head that this is NOT AN INVESTMENT It's a pledge to fund an emergency crisis mgt pool, if and when needed That's because Lehman went BANKRUPT and every investor/lender (small or big) stopped being...

Here is a bit of advice from a person (me) who actually works for a global bank: There is no such thing as a safe global investment bank! Do bear in mind that you talking about institutions that are typically highly levered even on an ordinary day (let alone in a crisis). The safe label...

Actually, KJ makes an impt point. Most people have no problems with an IMF pledge to aid financial crisis mgt But I believe some people will have a problem with a PAP govt (using the same mechanism) making a $ pledge to a corrupt neighbour ie. remember Suharto's Indonesia

You live on Mars or something? So what about the uproar in the UK amongst the Conservative Party's OWN MPs with regard to the recent UK pledge?

Are you just plain dumb? Go ask George Osborne why he had to go hat in hand to Parliament for permission to "lend" to the IMF

Actually, people didn't lend money wrt to mini-bonds etc. because they INVESTED their monies in these structured instruments that (not so clear to some) had no guarantee of repaying the principal amounts. Singapore's IMF pledge comes with an explicit guarantee of repayment when needed. So...

So let me make the issue clear to you: It's about ASKING for permission (and your views) before agreeing to lend YOUR money to SOMEONE ELSE

The OFR stands at about 200+ billion USD. Is it too much? From the way SGD has been performing, the markets seem to agree with the MAS's levels. Do Singaporeans think that the OFR is overfunded? I think that's a question for the politicians to figure out (both PAP & Opposition). That's why I...

The OFR exists so that MAS can maintain a stable and strong (but not too strong) S$. It has to be necessarily large because maintaining confidence in a currency requires a hefty sum. All govts have some form of OFR as a floating exchange rate system requires it. You will note that when a...

Then why did some many of them not vote for him and his party, when many were already leaning to the opposition cause?

You don't get anywhere by rocking any darn issue without rhyme or reason eg. accusing people of acting ultra vires (with respect to the Constitution) only allows them to seek proper legal opinion to show how stupid you look (at least in the eyes of rational thinking people) KJ needs to start...