US taxpayers could be on hook for Europe bailout

The U.S. is coming to Europe's financial rescue.

So far, America's role is fairly limited. But if the crisis continues to grow and the U.S. takes on a wider role, U.S. consumers and taxpayers could feel a bigger impact.

The biggest exposure could come from America's status as the single largest source of money for the International Monetary Fund. The latest round of American financial assistance came Thursday with a promise by the Federal Reserve to swap as many dollars for euros as European bankers need. In the short run, those transactions won't have much impact because the central banks are simply swapping currencies of equal value. If the move helps avert a wider crisis, it could help spare the global economy from another recession.

But over the long term, consumers could feel the impact of central bankers flooding the financial system with cash, according to John Ryding, chief economist at RDQ Economics.

Source: bottomline.msnbc.msn.com...



The bailout of the failing Eurozone reeks of socialist collectivism by the global financial elite, who seek to extend the domino effect from Greece to the Eurozone to the debt-crippled United States.

A bailout move like this would already crack the back of the US economy as it is milked for the EU elite.

Don't worry, Ben Bernanke's Federal Reserve can keep the money printers in overdrive printing more funny money with the worthless paper and ink.

What do you think?

Um, Amerikan magik money was already used to bailout Euro banks.

two

it's what happened before the depression hit also....
one country went down, so germany, I believe it was propped them up....than another, so well....it needed propped up also, then another, and another, and soon...there was no one to prop them up!!!

there's alot of similarities between the 20's and 30's really....
the one big difference is that now, we have food stamps, hud, and unemployment....
so we don't see the food lines and people jumping out of ten story windows as often....