Global Bankruptcy

IMF, the very institution many world governments want to create new currency announces it will do the same sort of things for countries that our federal reserve does for banks:

The IMF announced the creation of a new flexible credit line for countries with very strong fundamentals, policies, and track records of policy implementation.

Don't think for a minute that 'track records of policy implementation' means anything:

The IMF aims to ensure that conditions linked to IMF loan disbursements are focused and adequately tailored to the varying strengths of members’ policies and fundamentals (there have been criticisms in the past that some IMF loans had too many conditions that were insufficiently focused on core objectives).

So, according to the world's central bankers, the solution to bad loans is more bad loans! They appear to have less self-control than crack-addicts, for crack-addicts do try to do other things now and then.