Skip to comments.Here Comes The Global, US-Funded Liquidity Bail Out
Posted on 11/30/2011 9:22:50 AM PST by tcrlaf
As expected, the Fed has just bailed out the world once again:
FED, ECB, BOJ, BOE, SNB, BANK OF CANADA LOWER SWAP RATES - BBG ECB, FED other major central bank to lower the pricing of existing USD liquidity swaps by 50BPS
And as we have been writing every single day, the worldwide dollar crunch is now confirmed:
At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar
And finally, a promise to bailout Bank of America when it hits $4.00 again:
U.S. financial institutions currently do not face difficulty obtaining liquidity in short-term funding markets. However, were conditions to deteriorate, the Federal Reserve has a range of tools available to provide an effective liquidity backstop for such institutions and is prepared to use these tools as needed to support financial stability and to promote the extension of credit to U.S. households and businesses.
This means that the global situation is far, far more dire than the talking heads have said. Luckily, when this step fails, which it will, Mars can always come and bail us out.
"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."
(Excerpt) Read more at zerohedge.com ...
This is the big bazooka, the last resort for Europe, and you KNEW they were going to do it. And Gold, silver, and Oil are rising again.
No oversight, above the law. The ONLY consideration is making sure the economy doesn't crash, as it must, before election day.
I hope the dollar printing press doesn't break down.
I thought Obama said "THE ERA OF BAILOUTS IS OVER!!!"?
Why cant we just buy Paris like any normal country would do?
I suggest you all hit Sams or Costco this week and load up on non perishables in a big way. Then stop by your local “sporting goods” store and buy the appropriate “home defense tools” to protect your purchases.
A word to the wise..........
Arrest Bernanke now!!!
How to Make Sense of the European Union Disaster
I hope when I am paying for the French to take their month-long vacation in August they will at least send me some postcards...
Save the European socialist democracies so our socialist Democrats can stay in office?