IMF – Your Money In Their Slippery Hands

Posted on Sun 04/22/2012 by

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By Andrew Bolt ~

Here they go again:

Australia is among the nations contributing to the International Monetary Fund’s (IMF) war chest to protect against further financial deterioration in Europe.

Overnight the IMF said it had raised more than $US430 billion ($A417 billion) in an effort to assure finance markets that it has sufficient firepower to handle any new problems from Europe’s prolonged debt crisis.

Treasurer Wayne Swan said Australia would contribute $A7 billion to this.

Other countries made a more prudent choice:

The United States and Canada refused to participate in boosting the IMF’s resources, seeking to keep pressure on Europe to do more.

TonyfromOz adds…..

Australia will contribute $7 Billion. WTF. You cannot be serious! Let me see if I’ve got this right. Australia borrows billions of dollars, getting our Country, Australia, further and further into debt. Then we go and give the IMF $7 Billion to assist failing European Countries that are sinking in debt ….. because they have borrowed too much.

Andrew Bolt is a journalist and columnist writing for The Herald Sun in Melbourne Victoria Australia.

Andrew Bolt’s columns appear in Melbourne’s Herald Sun, Sydney’s Daily Telegraph and Adelaide’s Advertiser. He runs the most-read political blog in Australia and hosts Channel 10’s The Bolt Report each Sunday at 10am. He is also heard from Monday to Friday at 8am on the breakfast show of radio station MTR 1377, and his book  Still Not Sorry remains very widely read.

Read more excellent articles from Andrew Bolt’s Blog . http://blogs.news.com.au/heraldsun/andrewbolt/