Federal Reserve opens credit line to Europe

The Tampa Tribune ^ | May 9, 2010 | AP

[driftdiver]

The Federal Reserve today opened a program to ship U.S. dollars to Europe in a move to head off a broader financial crisis on the continent.

Other central banks, including the Bank of Canada, Bank of England, European Central Bank and Swiss National Bank, are also involved in the effort. The Federal Reserve said the Bank of Japan will soon consider a similar program.

[driftdiver]

Didn't see this as part of the other stories

[neodad]

You mean China opened a credit line...

[goodnesswins]

Gee...we must have SOOOO MUCH here in the States that giving it away won’t matter....

[hinckley buzzard]

Shovelling paper dollars down a bottomless pit. Great. Just great.

[Michael Barnes]

Some crazy stories out there; with crazy numbers attached. I have to wonder if we aren't looking at "weeks" instead of "years".

Maybe our congress-critters know something we don't and November won't even matter.

[Virginia Ridgerunner]

[o-n-money]

Is this like the housing crisis.....lending money to people who can’t/won’t pay it back.

[Gapplega]

tic tock; all of this is going to collapse and fairly soon.

[katiedidit1]

Obama is destroying America as we watch. Less than a year and a half in office. Are we on the eve of destruction?

[ABQHispConservative]

I guess the paper and ink industries need the work :)

[GOPJ]

Throwin’ good money after bad...

[MichiganConservative]

They just keep trying to push off judgement day. The more they push it off, the worse it will be.

Greece is just the beginning.

[JoSixChip]

Why not just give them the printing press? The American dollar is worthless and soon it will become obvious.

[Zeddicus]

So, we're going to borrow more money from China, and steal more money from ours and our children's future, to give it to a bunch of irresponsible socialists who have a nasty tendency to start World Wars when things don't work out well for them?

Who here still thinks "our" government is working in the best interests of US, the citizens of the USA, at all? Folks, this criminal cabal of political elite is robbing us blind and enslaving us to THEIR DEBT for generations to come.

[Chode]

and America takes another one in the........

[CodeToad]

So, while Mr. and Mrs. America must damn near drop their shorts to get a home loan for a mere $200k, every nation on Earth can just get American money for the asking to the tune of billions and trillions of dollars.

Next time anyone bitches about mortgage loans, let’s remind them that foreign nations got many times more for nothing.

[ChildOfThe60s]

The insolvent bailing out the bankrupt.

This seems to me to be a sign that things may be beginning to spiral out of control.

We have an international monetary system based on primarily faith. And that faith is eroding a little more and a little faster almost on a weekly basis.

Note to self:
Need more food and more lead. And lots of TP.

[fahraint]

wait a minute....where did the Fed get all those dollars to send to Europe?

Did it earn them? Investments? Production? (in a sense, if producing means creating out of thin air)

[VRWC For Truth]

Whisky Tango Foxtrot?

Time to JAIL the Federal Reserve Board at GUANTANAMO.

[wku man]

We're on the eve of something. Destruction will be a large part of it.

Scouts Out! Cavalry Ho!