Skip to comments.The World's Fiat Currency System Risks Collapse
Posted on 05/10/2010 12:46:15 PM PDT by Razzz42
...While the Federal Reserve may say these swap lines are necessary "to help improve liquidity conditions in U.S. dollar funding markets and to prevent the spread of strains to other markets and financial centers", NIA recognizes that this is nothing more than another transfer of wealth from the American middle class to bankers around the world through inflation. This program was originally enacted in 2008 when the Federal Reserve loaned $582.8 billion to foreign central banks without any disclosure of which central banks got the money.
NIA believes it is unconstitutional for the Federal Reserve to make loans to foreign central banks. Most likely, the Federal Reserve was pressured by Wall Street to re-establish the swap facilities because Bank of America, Citigroup, JP Morgan, Goldman Sachs and Morgan Stanley have about $2.5 trillion in exposure to Europe, and Wall Street doesn't want to see their bets go bad.
Not only will Americans now be exposed to the European debt crisis through the Federal Reserve's swap lines, but the U.S. will be giving money away to Europe through the IMF. The IMF is contributing up to 220 billion Euros as a part of the bailout, which equals $283.1 billion at the latest exchange rate. The U.S. represents approximately 20% of IMF funding, which means the bailout is costing U.S. taxpayers $56.7 billion, not including the potential losses from loans made by the Federal Reserve and the inflation it will create...
(Excerpt) Read more at inflation.us ...
Printing debt is more dangerous than deflation over a long period of time. Because you totally destroy the currency.
I can’t believe we have educated people working at the FED.
I wouldn’t know. I’ve never seen a deflation. I’ve seen an inflation though. And it’s ugly. Pretty ugly right now as far as that goes, but they cook the books and won’t admit there’s an inflation. But prices go up up and up and your paycheck never does, or at least it never keep up.
“Printing debt is more dangerous than deflation over a long period of time. Because you totally destroy the currency.”
We are into this debt crisis fairly far and deep. Notice how the Greeks react when government tries cut back spending via entitlements, blood in the streets and banks being bombed, better to print than bleed in the short term.
They are highly educated and extremely intelligent people who know exactly what they are doing. It's called the Cloward-Piven Strategy, it was developed at one of the Wee Wee's alma matter's (assuming he really attended Columbia University), by some of Obozo's radical Marxist buddies. And unfortunately, it is being perfectly executed by the b*stard and his minions.
And in the long term, bleed anyway.
why do you think they’re working triple-overtime to put us on the Carbon standard?
Did they sent a note home outlining exactly what is allowed?
A little civil disobedience from both sides is healthy.
CO 2 is actually better than paper because only “those in the know” KNOW how much is out there......wait a minute, both are plant food, but one can double as TP.....