According to the Bloomberg article, China and Brazil have already expressed interest in IMF bonds. For me, this immediately brings U.S. Treasury bonds into the picture. Let's just suppose that IMF bonds went to market with a 1% higher dividend available than the competing U.S. Treasuries rate. Would this instigate some immediate liquidation of American debt securities? Would this require the U.S. Treasuries dividend rate to go up? One thing is certain, just the mention of a possible IMF bond sale will tend to force some hands.

I believe that therein lies the gambit, because the Bloomberg article makes a few things quite clear. First, although the article suggests that Brazil is interested in IMF bonds, it quotes Brazilian Finance Minister Guido Mantega as calling the idea "insufficient" and "premature."

Secondly, Bloomberg revealed that the IMF feels its current capital desires are not being efficiently serviced by its members. Like any economic-political organization, the IMF wants its clout and it wants it now. By putting pressure on the status quo in the form of leverage sloughing via zero responsibility bonds, the IMF can gain significant sway over world development. The best part for the IMF is that their members would be footing the bill. Remember, the IMF is truly responsible for nothing.

It's no wonder that U.S. Treasury Secretary Timothy Geithner is pressuring the Obama administration to seek approval from Congress to contribute up to $100 billion to the IMF. Obviously, Mr. Geithner would prefer that our U.S. Treasuries continue to dominate the world bond market. An IMF-instigated bond issue could change the balance of world economic power in the blink of an eye.They've been telling you for decades that the U.S. government could never go bankrupt.

You would still like to believe that, wouldn't you?