Recently the International Monetary Fund (IMF) issued a warning to all advanced G20 Nations, that they must increase their debt creation cycle or face imminent crashes and hardships.
We may see economic collapse in some countries unless G20 creditors agree to accelerate debt restructurings and suspend debt service while the restructurings are being negotiated.
IMF chief Kristalina Georgieva stated in a blog post, along with co-author Ceyla Pazarbasioglu, director of the fund’s Strategy, Policy, and Review Department.
She also said that it is imperative that private creditors also provide relief.
AFP writes, ‘The G20 Debt Service Suspension Initiative (DSSI) expires at the end of the year, and without a renewal, countries would face financial pressure and spending cuts just as new Covid-19 variants are spreading and interest rates are expected to rise, she said.’
Debt challenges are pressing and the need for action is urgent. The recent Omicron variant is a stark reminder that the pandemic will be with us for a while.
Georgieva said these problems are mostly targeted at “low-income countries,” but never actually specified which ones.
No doubt 2022 will be much more challenging with the tightening of international financial conditions on the horizon.
You can read more about it here:
AUTHOR COMMENTARY
[7] The rich ruleth over the poor, and the borrower is servant to the lender. [26] Be not thou one of them that strike hands, or of them that are sureties for debts. [27] If thou hast nothing to pay, why should he take away thy bed from under thee?Proverbs 22:7, 26-27
I am mentioning this because the International Mafia Fund is telling the truth; and if you have been following The WinePress for some time, then you know is the game at play. The strong majority of the broad masses have no idea what is going on, and the media is pointing them in all kinds of ridiculous directions. ‘Look here, look here, don’t look there!”
The fact is, central banks all over the world (especially in America) MUST print endless amounts of debt to keep the charade and Ponzi scheme going. As soon as debt creation slows down, and even ceases, the whole house of cards falls down.
However, what the IMF did not say is that if interest rates are raised, even fractionally, the mega-bubble in the markets will go thermal nuclear and the house of cards falls down.
Either way, it is a lose-lose situation. In the case of the Feds, they want this. They issue endless debt out of one hand, and then they and other institutions come in and buy it back up, which, no doubtably will cause inflation to skyrocket higher. This basic mechanism is the core driver of inflation, but as I said, you are not supposed to know that.
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[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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Economic collapse by 2023 i believe
There is inflation. My family got Costco ribs for $28.60, they used to cost ~$20.00 in 2016