United States sending $120 Billion to bail out Europe.

OK, you do the math. While the British are vexing over the contribution they may have to pay to prop up the Socialist regimes in Europe, we will be sending $120 Billion since we cough up about 20 percent of the IMF. You can bet this is only the beginning.Pray tell, where is this money coming from? Who authorizes it. Check out the earlier post below this one, and I think we can catch on.:”Too big to fail”. Goldman Sachs post. You guessed it,  U,S, has already provided 20 Billion to bail out Europe

Reports in Italy suggested that the IMF is drawing up plans for a €600 billion (£517 billion) assistance package for the country. Spain may be offered access to IMF credit, rather than a rescue package, to avoid it being “picked off” by the markets in the coming weeks.

Any IMF involvement in European rescue packages would be partly underwritten by British taxpayers, which could leave this country liable if Italy and Spain did not repay any international loan.Full Story at the Telegraph