Saturday, 31 December 2011

Fed Secretly Bailing Out Europe

A former Fed official says in the Wall Street Journal that the Federal Reserve is covertly bailing out Europe. Insight with Gerald O'Driscoll, Cato Institute senior fellow, who says the Fed operated a "temporary U.S. dollar liquidity swap arrangement."

They want to keep the scam running as long as possible to keep raking in the bonuses- and to use the present system as strategic leverage ... keeping everyone in the same boat.

[Posted at the SpookyWeather blog, December 31st, 2011.]

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