Funding the new global currency - Obama Proposes $100 Billion Loan for I.M.F.

The New York Times - WASHINGTON (Reuters) - President Barack Obama Monday proposed a $100 billion U.S. loan to the International Monetary Fund to boost the IMF's war chest and urged a bigger stake in the IMF for emerging powers like China and India.

In a letter sent to Democrat and Republican leaders in the U.S. Congress, Obama said the U.S. funding "does not represent a budgetary expenditure or any increase in the deficit since it effectively represents an exchange of assets."

[This is such gross propaganda, no self-respecting journalist would claim the piece as his own.]

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