Why are the Fed and the ECB doing this? The Fed could, after all, lend directly to U.S. branches of foreign banks. It did a great deal of lending to
foreign banks under various special credit facilities in the aftermath of Lehman's collapse in the fall of 2008. Or, the ECB could lend euros to
banks and they could purchase dollars in foreign-exchange markets. The world is, after all, awash in dollars.
The two central banks are engaging in this roundabout procedure because each needs a fig leaf. The Fed was embarrassed by the revelations of its prior
largess with foreign banks. It does not want the debt of foreign banks on its books.”
Some quotes from around the net on the subject,
There are $707 trillion in unregulated derivatives. The Fed has no choice but to bail out European banks as every US major bank has large derivative
exposure to European banks.
$1 trillion may not be enough though - not for long anyway.
The Fed has lost its ability to support politicians. A new year is around the corner. God damn Mayans.
So let me understand this...The FED will print a large some of monopoly money and give it to their European gang members at the ECB, so that they can
then hand it out to the fools that run the in debt Euro nations. They will then in turn spend it like drunken sailors until it is gone in say..... a
year? Maybe? Then what? Oh yeah that's right now I remember! Then all of us tax payers can bend over and take it in the ass. Hope they provide us
all with the local rape crises 800 number so we have someone to talk to after this happens.
2012.......... get the beer and popcorn in ........and pull up a comfy chair ONE hell of a ride is to commence.
2012 ATS was made for this
do you guys have a back-up emergency fibre optic internet generator
