EU Crisis of Deflation Coming to the U.S! Debt PONZI Scheme Meltdown! As debt increases far beyond what can ever be paid back, the only solution to this is more austerity which leads to increasing poverty and unemployment. The IMF has a stronghold on countless countries, as they shake up the nation, collecting the assets of these former sovereign states. Governments hold massive quantities of bonds have seemed to escalate to a clear and evident PONZI scheme that is destined to fail.
All of the dominoes will fall…
The International Monetary Fund, convinced that Europe erred in forcing debtor countries like Greece and Portugal to bear nearly all the pain of recovery on their own, is pushing hard for a plan that would impose upfront losses on bondholders the next time a country in the euro area requests a bailout.
With Europe on the hook for around 340 billion euros ($460 billion) in loans to bailed-out countries in the euro area, compared to €79 billion for the I.M.F., it is not surprising that Mr. Asmussen and his sponsors in the German finance ministry have responded to the I.M.F.’s push for others to accept losses on existing debt by saying, in effect, you first.