I for one think it is time for the International Monetary Fund or IMF to disappear. The IMF does nothing other than engender dependency and support the ‘welfare state’ as we are seeing in Europe today and have seen in Africa for decades. While the IMF did turn around post-war Germany and Japan, in addition to be honest Britain and France, those efforts were directed at countries who are capable of paying their own way. This will never be the case for Italy, Greece, Portugal, and Spain.
Some would think the IMF held more assets such as gold than any other entity on the globe. It does not. It depends greatly on the U.S> taxpayer to pump in dollars, even though the IMF does hold just over 10,000 metric tons of gold. There is another private entity approaching 14,000 metric tons of gold reserves, in addition to myriad commodity resources that would be needed to create new islands of prosperity should the overall global economic environment collapse.