Skip to comments.Fed oks dollar swap facility with Bank of Japan
Posted on 05/10/2010 9:11:22 PM PDT by mlocher
WASHINGTON (MarketWatch) -- The Federal Open Market Commitee authorized Monday the reopening of a dollar swap facility with the Bank of Japan, the Fed announced Monday. The program is similar to the arrangements established yesterday by the Fed and a group of five central banks including the European Central Bank to make sure that European banks have access to dollars if needed. The swap lines were authorized by the Federal Open Market Committee through Jan. 2011.
Japan is in bad shape.
Well it just might be this time. If the whole world goes broke at once, who wins? The whole world is basically socialist, so no one can pay their bills. The dollar is toilet paper now, but it's better than everything else.
God, let us survive the next 2.5 years and let someone with a brain get elected. Amen.