As we reported earlier today, in somewhat surprising news, the IMF admitted that not only is it an idiot (this was public knowledge) but also a liar (curious, as no "serious people" do this in polite company and certainly not publicly).

Subsequently, it released the full 51 page report. Those who are inclined to read the IMF's admission that all our allegations about the international agency's credibility, competence and corruption (which, as it implicitly admits, was also using taxpayer funds from around the world to preserve the way of life for a few parasitic and unelected European technocratic dictators). But perhaps the funniest is that the "world's bailout organization" (at least in the days before the New Normal) is actually charging $18.00 for every hard copy of the report in which it admits it was morally (if not financially, at least not yet) bankrupt.

So wasting hundreds of billions in taxpayer funds to preserve a broken monetary model and the wealth of a few good bankers is acceptable, but when it comes to attaching a stamp to a letter, the IMF is suddenly prudent and responsible?

Just when one thinks the IMF can't shock any more, they go ahead and fully redeem themselves.

Full report for which we will not charge one penny - pdf link.