Now, just today, the BRIC (Brazil, Russia, India and China) announced that they too would like to diversify and buy IMF bonds. But here is the real deal - the IMF is governed by countries with “voting rights” in the IMF, and this is the breakdown: Brazil has a 1.38% say, Russia has a 2.69% say, India has a 1.89% say and China has a 3.66% say. The US holds a 16.77% say in what goes on in the IMF – they have so much power there, that anytime the Chairmanship comes up, it is the US which has the pick to fill the vacancy.

So with this, let me ask you in Forex Online land: do you really think the US will dilute their power in the IMF, knowing that it could hurt them financially in the long run? Considering that the US Treasury Secretary, Timothy Geithner, is a former IMF head, even with all the changes that Obama has been making, I doubt highly that you will see IMF debt issues anytime soon. Power begets power, and while the US is in financial straits, I doubt they will readily give up some of that power if it will end up hurting them even more down the road.