Federal Reserve bails out Europe.

[Meat-Hook]

http://www.bloomberg.com/news/2011-11-30/fed-five-central-banks-lower-interest-rate-on-dollar-swaps.html

Today’s move echoes coordinated actions from the financial panic starting in 2007 to create and expand the currency-swap lines, whose use peaked at about $583 billion in December 2008. The central banks also jointly lowered their benchmark interest rates in October 2008.

--------------------------

At the time of this post the Dow is up over 400 points.

If Im understanding these financial matters correctly,...

we are borrowing $$Billions/Trillions from the Communist Chinese ((with interest)) and once we do that the Federal reserve and their sidekick, the IMF, take it apon themselves to play Santa Claus and farm it out to Europe ((again)). In this case its "Currency Swapping",.....which sounds an awful lot like Money Laundering. These people are not even American citizens.

Same with global foreign aid.

If this is true, ..I want to know specifically what law, or exactly who it is, that authorises the Fed/IMF to do this?? and when did this first take affect?? And why has this never been challenged??

Meanwhile;.....millions on foodstamps, no jobs and no bail-outs for them.

[Warthogg]

M-Hook, I've been hesitant to post this story. Glad you did.



Wart

[Meat-Hook]

you bet.

Thanks Wart.

[Warthogg]

http://www.bloomberg.com/news/2011-11-30/fed-five-central-banks-lower-interest-rate-on-dollar-swaps.html

At the time of this post the Dow is up over 400 points.

If Im understanding these financial matters correctly,...

we are borrowing $$Billions/Trillions from the Communist Chinese ((with interest)) and once we do that the Federal reserve and their sidekick, the IMF, take it apon themselves to play Santa Claus and farm it out to Europe ((again)). These people are not even American citizens.

Same with global foreign aid.

If this is true, ..I want to know specifically what law, or exactly who it is, that authorises the Fed/IMF to do this?? and when did this first take affect?? And why has this never been challenged??

Meanwhile;.....millions on foodstamps, no jobs and no bail-outs for them.


the IMF


Via the IMF the US (taxpayer) will fund 17% of Europe's debt. That's on top of the table. I'm not ready to even guess at what's happening under the table.


I want to know specifically what law, or exactly who it is, that authorises the Fed/IMF to do this??


The several trillion dollar question. The Congress has the power to control the Fed but not the will to even audit the Fed. The Fed has been been around (formally) since 1913 and has never been audited.

Herman Cain was the Fed's fan boy in this election cycle.

The Herman's lie: You have only to ask any Fed PR person and they will tell you anything you want to know.

The truth: Bloomberg had to sue the Fed all the way to the Supreme Court to find out what happened in December 2008. Only then did we find out the Fed had also bailed out foreign banks....happened under President Dubya.

Wart

[Warthogg]

Just a reminder:

Federal (NOT Federal but privately owned.)
Reserve (Simply because the word sounded good.)
Bank (NOT a bank.)

Soooo the non federal non bank is a private corporation but the only for-profit private corp in the US that pays no federal, state or local taxes.


Wart

[El Laton Caliente]

Just a reminder:

Federal (NOT Federal but privately owned.)
Reserve (Simply because the word sounded good.)
Bank (NOT a bank.)

Soooo the non federal non bank is a private corporation but the only for-profit private corp in the US that pays no federal, state or local taxes.


Wart

You forgot...

Print Money at Will
Charge the Goverment for Printing the Money
Pass the money out in Loans to Whoever They Please
Loan the Money Back to the Government at Face Value Plus Interest

[El Jefe]

Damn it! :soapbox:

[Richard Simmons]

What would the effect be on our economy if the european banks failed? Not saying what they are doing is right, wrong, legal or illegal just asking if there would be a negative effect if we did nothing and if so how bad would it be or do we even care?

[El Jefe]

What would the effect be on our economy if the european banks failed? Not saying what they are doing is right, wrong, legal or illegal just asking if there would be a negative effect if we did nothing and if so how bad would it be or do we even care?

It most assuredly would have a negative affect. But this is just kicking the can down the road. Someday the bill has to come due and things fall out however they may. By continuing to do this bailout shit, they are really tempting fate. This is the type of nonsense that leads to insurrections.

[Texas Soldado]

I have to wonder why the 'Occupy/99%'s aren't camping out on the monkey house/WH lawn..
Why doesn't 0re0 get some negative press for this?

[Richard Simmons]

It most assuredly would have a negative affect. But this is just kicking the can down the road. Someday the bill has to come due and things fall out however they may. By continuing to do this bailout shit, they are really tempting fate. This is the type of nonsense that leads to insurrections.

That's true if nothing changes. Didn't the EU force Greece to make changes and cuts before they loaned them more money last month? Course the hard part might be making those cuts/changes real once the money changes hands.

[shorthair]

Is it true that old farts that have to take out :amen:minimum amounts from their Roth's will get more bang for the buck?

[El Jefe]

That's true if nothing changes. Didn't the EU force Greece to make changes and cuts before they loaned them more money last month? Course the hard part might be making those cuts/changes real once the money changes hands.

Greece if far from being out of the woods, their books are still in red and that's not even taking into account the idea of paying anything back. plus there's talk of kicking them out of the EU, whatever. The EU was doomed from inception.

[Warthogg]

Didn't the EU force Greece to make changes and cuts before they loaned them more money last month? Course the hard part might be making those cuts/changes real once the money changes hands.

Yes. The EU held up payments until the changes had been legislated.

One of the results was an unelected leader in Greece. Also in Italy. (I suspect we should note unelected technocrats are in charge in both countries.)

Wart

[Warthogg]

Greece if far from being out of the woods, their books are still in red and that's not even taking into account the idea of paying anything back. plus there's talk of kicking them out of the EU, whatever. The EU was doomed from inception.

The EU 'CAN' bail out Greece. The EU probably cannot bail out Italy and certainly not both Italy and Spain........and maybe even all of Southern Europe.

Germany holds most of the European bail-out cards and Germany is very, very afraid of inflation....and with good reason.


Wart


Be assured the Federal Reserve is working overtime to insure the US taxpayer is shafted in this mess.

[O.S.O.K.]

Bandaids are used up - now pulling out the sanitary napkins to soak up the blood.

How much longer before the dike let's go?

[Warthogg]

How much longer before the dike let's go?

IF the US stayed out (we will not stay out of course), things would be 'clarified' by the end of January 2012. Maybe even in December 2011.

Italy's bonds are now 7%+.......not sustainable.


Wart

[American Rage]

Heck, if we're all socialists, why not drown in socialist hell together?

LAGC would be proud.

[l921428x]

From what I have heard it's 7.2 trillion since 08, lent to europe and other places.I think Fox got it thruogh a FIA paper.

[stinker]

What would the effect be on our economy if the european banks failed?

If we let the buble pop it'll hurt, but it'll also begin to fix itself.

Otherwise, we're talking Weimar_Republic (http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic) eventually, but this time on a global scale, and we all should allready know what/who that led to.

[El Jefe]

If we let the buble pop it'll hurt, but it'll also begin to fix itself.

Otherwise, we're talking Weimar_Republic (http://en.wikipedia.org/wiki/Inflation_in_the_Weimar_Republic) eventually, but this time on a global scale, and we all should allready know what/who that led to.

I agree, get it over with, clear the books. But, it must be done above board and not at the expense of the taxpayer. Yeah, I know....

[Warthogg]

From what I have heard it's 7.2 trillion since 08, lent to europe and other places.I think Fox got it thruogh a FIA paper.

News Corp (Fox) and Bloomberg sued the FED all the way to the supreme court and won. Only then did the Fed release the information.


Wart

[Warthogg]

But, it must be done above board and not at the expense of the taxpayer. Yeah, I know....


:boozer::funny-post::santa2::crying::baaa::holy-sheep:



Wart

[Cypher]

It most assuredly would have a negative affect. But this is just kicking the can down the road. Someday the bill has to come due and things fall out however they may. By continuing to do this bailout shit, they are really tempting fate. This is the type of nonsense that leads to insurrections.

All they are doing is trying to pass the problem to the next generation of people. Old fart politicians.

When socialism fails it needs to fail, band aiding if for several years will just make it worse. They don't want to accept it failed but it has, the world is in a mess now, just wait until the house of cards comes tumbling down and there is nothing anyone can do to stop it or slow it down.

[El Jefe]

:boozer::funny-post::santa2::crying::baaa::holy-sheep:



Wart

Just can't help yourself can you.

[stinker]

All they are doing is trying to pass the problem to the next generation of people. Old fart politicians.

When socialism fails it needs to fail, band aiding if for several years will just make it worse. They don't want to accept it failed but it has, the world is in a mess now, just wait until the house of cards comes tumbling down and there is nothing anyone can do to stop it or slow it down.

That's the problem, they never will admit it failed and is an unworkable system. Theres allways going to be another excuse for why it will work if they just do X..If we just had put the right people in charge. If we just had put the right policy in place. If we just had set the taxes at the right level. If we just tweeked this right. If we just had tweeked that right. If we just had more cooperation from the public.

That last one is the most sinister part of socialism and why it allways leads to communism and consequently a government that slaughters it's own citizens. When you finally run out of excuses it's just easier to blame your citizens for your countries failings and use the guns you control to beat them into submisson. As long as his needs are still provided for what difference does it make to the central planner if the people under his rule go without their basic needs met.

This has been going on since long before Marx/Engels but Marx/Engels was the ones to form it into a school of economic/political thought(i use that term very loosely)

Bastiat was right. Legal plunder is what's behind all of this in the end.
The Law pdf (http://www.fee.org/pdf/books/The_Law.pdf)

[Krupski]

Just a reminder:

Federal (NOT Federal but privately owned.)
Reserve (Simply because the word sounded good.)
Bank (NOT a bank.)

Soooo the non federal non bank is a private corporation but the only for-profit private corp in the US that pays no federal, state or local taxes.


Wart

Most people think the "Fed" is a federal government entity. Just like they think our government is a "democracy".