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Fed to provide more “liquidity” for the Euros

by Rodan ( 32 Comments › )
Filed under Economy, Transportation at November 30th, 2011 - 11:30 am

Ben Bernanke who is a fan of 3rd World economics is back it again. Coordinating with other central banks, he plans to create more liquidity to prop up the European fanancial system. In other words, he is printing money to bail out Europe’s failed Socialist system.

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity. 

These central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to all operations conducted from December 5, 2011. The authorization of these swap arrangements has been extended to February 1, 2013. In addition, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank will continue to offer three-month tenders until further notice.

As a contingency measure, these central banks have also agreed to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of their currencies should market conditions so warrant. At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar, but the central banks judge it prudent to make the necessary arrangements so that liquidity support operations could be put into place quickly should the need arise. These swap lines are authorized through February 1, 2013.

Read the rest: Press Release

This is the blind leading the blind. Bernanke is once again taking care of his connected buddies at the expense of our living standards. This is criminal and whoever the next President is should remove this gangster as the head of the Federal Reserve. No Conservative should support this looting by the Globalist Crime Syndicate. This is not free market Capitalism, this is criminal activity.

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32 Responses to “Fed to provide more “liquidity” for the Euros”
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  1. Bumr50
    1 | November 30, 2011 11:38 am

    Ron Paul can be heard yelling “SEEEE!!!!” from three states away…


  2. coldwarrior
    2 | November 30, 2011 12:08 pm

    welll….this isnt exactly printing money for europe…

    this is more like finding your emergency account checkbook and getting it ready for the big assed bill that might happen.


  3. RIX
    3 | November 30, 2011 12:14 pm

    I wrote a paper in college about bthe viability of
    the European Economic Union.
    My conclusion was that it would devolve into a train
    wreck.
    I am not an economist & took only the required econ courses,
    yet even I saw this coming.


  4. RIX
    4 | November 30, 2011 12:22 pm

    Cyber Monday Deals Going On All Week at Amazon
    It’s a gadget-fest
    Charles Johnson
    Lifestyle • Tue Nov 29, 2011 at 8:02 pm PST • Views: 4,779

    Hmmm, looks like Charles is strong arming to get his
    own bailout.
    He is so Euro groovy!


  5. RIX
    5 | November 30, 2011 12:25 pm

    @ RIX:
    DoD already has it, I should have checked.
    As you were.


  6. 6 | November 30, 2011 12:28 pm

    RIX wrote:

    yet even I saw this coming.

    Everybody with an IQ above room temperature saw this coming.


  7. 7 | November 30, 2011 12:30 pm

    This is just wrong on so many levels. Stocks are up because Wall Street has gone Socialist.


  8. coldwarrior
    8 | November 30, 2011 12:30 pm

    RIX wrote:

    I wrote a paper in college about bthe viability of
    the European Economic Union.
    My conclusion was that it would devolve into a train
    wreck.
    I am not an economist & took only the required econ courses,
    yet even I saw this coming.

    heh, i used to get into some real knock down drag outs over that topic in grad school.

    i was on the side of the train wreck.


  9. RIX
    9 | November 30, 2011 12:38 pm

    @ coldwarrior:

    heh, i used to get into some real knock down drag outs over that topic in grad school.

    i was on the side of the train wreck.

    I never saw the Euros having a seamless union. Different
    languages, etnicities & animosities.
    I did see an Economic Union though in their attempt to riavl
    the U.S.
    To me at least it was predictable that the more Left Euro
    nations would see the union as a saftey net & rush to
    a more socialist utopia.


  10. 10 | November 30, 2011 12:41 pm

    Wow… If you ever wondered what Nuclear Weapons Grade insanity looks like… Here it is

    This imbecile not only doesn’t have both oars in the water, he couldn’t even find a rowboat or water to float it with to save his life…


  11. RIX
    11 | November 30, 2011 12:49 pm

    @ doriangrey:
    This guy has it all wrong. The group orchestrating
    this is the Mystic Knights of the Sea with the evil
    genuis Kingfish.


  12. 12 | November 30, 2011 1:02 pm

    @ doriangrey:

    How on Earth did you find this?


  13. 13 | November 30, 2011 1:05 pm

    Flyovercountry wrote:

    @ doriangrey:
    How on Earth did you find this?

    Somebody commenting over at TheHill linked to it. Somebody with a sock should drop this link over at the Bog of Eternal Stench, good god it would be funny watching Chunkles minions dissect this.


  14. Mashiki
    14 | November 30, 2011 1:25 pm

    This is more proping up national banks, most banks even canadians hold around 30% of european debt. The only way to offset it so you don’t get a currency run is to print more. It’s damn messy, though makes for good times on the forex markets.


  15. 15 | November 30, 2011 1:30 pm

    Mashiki wrote:

    It’s damn messy, though makes for good times on the forex markets.

    Good times, or as the Chinese say, Interesting times???


  16. 16 | November 30, 2011 1:34 pm

    Wow, Newt is conquering Florida…

    More Newtmentum news: Florida edition


  17. Bumr50
    17 | November 30, 2011 1:36 pm

    @ doriangrey:

    A commenter says that the head of the polling firm, Insider Advantage, is Newts former manager.

    I’ll go look…


  18. 18 | November 30, 2011 1:46 pm

    Obama officially just fucked himself seven ways from Sunday.

    Surprise: White House seals records surrounding death of agent killed by Fast & Furious gun

    And to think that Attorney General Eric Holder is getting testy about congressional calls for his resignation. After all, the Justice Department has nothing to hide, right?

    The Obama Administration has abruptly sealed court records containing alarming details of how Mexican drug smugglers murdered a U.S. Border patrol agent with a gun connected to a failed federal experiment that allowed firearms to be smuggled into Mexico.

    This means information will now be kept from the public as well as the media. Could this be a cover-up on the part of the “most transparent” administration in history? After all, the rifle used to kill the federal agent (Brian Terry) last December in Arizona’s Peck Canyon was part of the now infamous Operation Fast and Furious. Conducted by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), the disastrous scheme allowed guns to be smuggled into Mexico so they could eventually be traced to drug cartels.

    The murder of a U.S. Border Patrol agent is related to a Justice Department willingly turning over thousands of guns to Mexican criminal gangs, and Obama administration is hiding information about his death from the public. Amazing.

    This is grounds for impeachment and just might be the straw that turns the untouchable Obama into Richard Nixon Junior.


  19. 19 | November 30, 2011 1:47 pm

    Before the wall fell in Germany in 1989 my cousins in East Germany (the DDR) had plenty of money.

    Plenty of money with NOTHING to spend it on unless by CHANCE something came up, it was rationed. This applied to everything for the average individual. The ONLY people who had access to anything worthwile were the party apparatchiks.

    One year, when my two eldest daughters were little, my cousin Siegfried shipped two Christmas presents to them. Siegfried apologized that there was NOTHING in the toy store on the shelves suitable to buy. The shelves were almost bare, rarely stocked. All the good stuff was earmarked for the tourist/party stores. What he sent were two little rubber cuckoo figurines, one red, one blue. To this day, we have kept them as reminders as prized products of the glorious DDR!

    A pocket full of money that couldn’t buy a cigar! Pocket change was a joke too, aluminum slugs!


  20. SciFiGuy
    20 | November 30, 2011 1:50 pm

    Just in on Drudge as Headline

    “National Poll: Gingrich 45% Obama 43%”

    I can live with that..


  21. Bumr50
    21 | November 30, 2011 1:54 pm

    @ doriangrey:

    Chuckles has his millionth Cain piece up, ironically linking to and quoting Jonathan Martin’s millionth Cain piece, published almost into December declaring how “inept” Cain is.

    If he’s so inept and dead, why are you asshats still writing about him?

    Perhaps the Martin piece (Cain campaign: A study in ineptitude)could be more correctly retitled:

    “A Study In Journalistic Ineptitude: How Jonathan Martin Couldn’t Bring Down The Worst Campaign In American History With Three Months And 1,000 Articles”


  22. yenta-fada
    22 | November 30, 2011 2:35 pm

    Mashiki wrote:

    This is more proping up national banks, most banks even canadians hold around 30% of european debt. The only way to offset it so you don’t get a currency run is to print more. It’s damn messy, though makes for good times on the forex markets.

    Canada is also holding more U.S. debt these days. In other breaking news, my precious metals stocks twitched. They move in tandem with the general markets which is not realistic, as they are a natural hedge. Manipulated markets. Money printing raises all boats. They have no other solution except to yell ‘iceberg’ and head towards the lifeboats.


  23. yenta-fada
    23 | November 30, 2011 2:38 pm

    Rightwing Rebel wrote:

    This is just wrong on so many levels. Stocks are up because Wall Street has gone Socialist.

    Except that Wall Street hands off the losses to the bagholders (e.g. pension funds, mutual funds, etc). Then the taxpayer bails out the banks. Who will bail out the Sovereign Nations!??


  24. m
    24 | November 30, 2011 2:40 pm

    @ Bumr50:

    By Charles’ standards -- that makes him raaaaacist.


  25. orangecrush
    25 | November 30, 2011 2:45 pm

    Germany should turn the spigot off for Greece and let Greece fall into civil war or be bailed out by terms from China.

    Greece is what the OWS protestors want the US to become.


  26. yenta-fada
    26 | November 30, 2011 2:46 pm

    m wrote:

    @ Bumr50:
    By Charles’ standards – that makes him raaaaacist.

    Charles has standards? That’s a news item. :-)


  27. orangecrush
    27 | November 30, 2011 2:46 pm

    Standard of living has to go down in the EU. That is what the EU has brought to them. If they had been more market oriented and less PC they would survive as people would make better choices with confidence.


  28. m
    28 | November 30, 2011 2:47 pm

    @ yenta-fada:

    Ha!


  29. yenta-fada
    29 | November 30, 2011 2:48 pm

    orangecrush wrote:

    Germany should turn the spigot off for Greece and let Greece fall into civil war or be bailed out by terms from China.
    Greece is what the OWS protestors want the US to become.

    The problem (one of them) is that the big French banks are holding the lion’s share of Greek debt. France is too big to fail and too big to bail.


  30. yenta-fada
    30 | November 30, 2011 2:49 pm

    m wrote:

    @ yenta-fada:
    Ha!

    Well, it is grounds for debate.


  31. yenta-fada
    31 | November 30, 2011 2:51 pm

    orangecrush wrote:

    Standard of living has to go down in the EU. That is what the EU has brought to them. If they had been more market oriented and less PC they would survive as people would make better choices with confidence.

    Yes, their social benefits have always been unsustainable. They are Communists who dine out in nice restaurants, take long vacations, wear good clothes and travel. Helloooo. Bill Ayers communism. That guy must be one of the richest assholes in the world.


  32. m
    32 | November 30, 2011 3:13 pm

    @ yenta-fada:

    Yep. You’re absolutely right.


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