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Topic started on 18-2-2008 @ 08:44 PM by DimensionalDetective
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U.S. Banks quietly borrow $50 Billion via new FED Facility
www.ft.com
 US banks borrow $50bn via new Fed facility
By Gillian Tett in London
Published: February 18 2008 20:34 | Last updated: February 18 2008 20:34
US banks have been quietly borrowing massive amounts of money from the Federal Reserve in recent weeks by using a new measure the Fed introduced two
months ago to help ease the credit crunch.
The use of the Fed’s Term Auction Facility, which allows banks to borrow at relatively attractive rates against a wider range of their assets than
previously permitted, saw borrowing of nearly $50bn of one-month funds from the Fed by mid-February.
(visit the link for the full news article)
[edit on 18-2-2008 by DimensionalDetective]
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reply posted on 18-2-2008 @ 08:44 PM by DimensionalDetective
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Has anybody heard of this? This is the first I have. Seems like a kind of hush-hush bail-out.
www.ft.
com
(visit the link for the full news article)
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reply posted on 18-2-2008 @ 08:46 PM by Alxandro
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I wouldn't be surprised if George Soros is secretly involved in some way.
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reply posted on 18-2-2008 @ 09:30 PM by OBE1
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Originally posted by DimensionalDetective
Has anybody heard of this? This is the first I have. Seems like a kind of hush-hush bail-out.
Heard about it here: Fed, Top Central Banks to flood markets with cash 
Next TAF auction: Monday, February 25. Limited transparency.
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reply posted on 18-2-2008 @ 09:33 PM by marg6043
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Interesting that this how they have been able to keep the markets afloat, in the last few weeks.
But lo and behold, none of this deals are passed to the consumer at all, actually some of the mortgage houses were raising the interest last week.
Greedy bastards. 
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reply posted on 18-2-2008 @ 09:33 PM by DimensionalDetective
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reply to post by OBE1
LOL! Guess I didn't read my own thread close enough. That 'term Auction Facility' didn't ring a bell. Well, at least we have a rough figure of the
type of bail-outs that have actually occurred thus far.
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reply posted on 18-2-2008 @ 09:58 PM by blowfishdl
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OMG!!!!!!!!!!!!!! Somebody please tell me where I can exchange my dollars for euros?
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reply posted on 18-2-2008 @ 10:01 PM by HimWhoHathAnEar
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Monetizing Debt by any other name is still INFLATION! It won't be long before the 'I can't believe milk is $10 a gallon' threads start showing up.
These games have a historical and logical end.  They'll start adding zero's to 'dollars' soon. Then they'll rename the paper and take the
zero's off several times in a vain attempt to make their paper worth something. Pathetic. 
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reply posted on 18-2-2008 @ 11:12 PM by cpdaman
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seems another "respected" economist is using the D word Doug Noland
Going forward, I expect a foundering leveraged speculating community to be At The Heart of Deepening Monetary Disorder. The initial victims appear
the fragile global equities market Bubbles and the U.S. Corporate Credit market. Forced deleveraging of hedge fund corporate debt and derivatives is
in the process of creating a massive overhang of securities to sell, in the process profoundly curtailing Credit Availability and Marketplace
Liquidity throughout. The ramifications for our finance-based Bubble Economy are momentous
ya that's not good doug, what else you see in your crystal ball?
As an economic and financial analyst (as opposed to "fear-monger"), I feel it is imperative to highlight that it is more "technically"
accurate to categorize the unfolding scenario in the historical context of an economic "depression" rather than "recession." This is certainly not
shaping up as a short-term inventory-led economic adjustment or "mid-cycle" slowdown. Instead, we have now entered the very initial stages of what
will likely prove a deep, prolonged and arduous adjustment to the underlying structure of our Credit and economic systems
ok wish i didn't ask , but like i have said for a while the current world econmic order is based on the american consumer in the driver seat, and
other national govt's go along with this scheme at the plight of their own citizens, because it is a "globalized business" and they have been
making decisons based on what is good for this business. When the american consumer can know longer be the benefactor of bubble's the need for
another system is created. That time is imminet. The new global business model will be also known as the New World Economic/Financial Order and it
will rise out of the ashes in the problem , reaction , solution model.
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reply posted on 19-2-2008 @ 10:51 AM by welivefortheson
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one of the goldens rules mr gordon brown espouses,dont borrow to finance debt.even i know that and it makes perfect sense.
i guess in this case the have no other option,borrow to finance thier debt or they go bust.its just delaying the inevitable,the more they borrow the
harder the fall will be.
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reply posted on 19-2-2008 @ 11:13 AM by Gools
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reply to post by cpdaman
Do you have a link to the Doug Noland article for those wanting to read more?
.
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reply posted on 19-2-2008 @ 04:02 PM by traderonwallst
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Here was a gift I gave everyone back in August. I was short it for a long time and have finally gotten out of my position.
Here is the original link I gave all of ya.
www.belowtopsecret.com...
No one read it then, but it was easy money if ya had.
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