Fed Joins with European Banks to Battle Credit Crisis
May 2nd, 2008Meanwhile inflation sensitive investors get 0%.
Via: AP:
The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks.
The Fed said it was boosting the amount of emergency reserves it supplies to U.S. banks to $150 billion in May, from the $100 billion it supplied in April. The Fed took this action and several other moves to boost credit in coordination with the European Central Bank and the Swiss National Bank.
The latest moves are part of a series of actions the Fed has made since the credit crisis struck in August.
The efforts are designed to increase reserves so that banks don’t become hesitant about lending to consumers and businesses, which would make the current economic slowdown even more severe.
The Fed’s decision to boost the amount of loans it makes to banks every two weeks, in a process known as a Term Auction Facility, was aimed at sending a strong signal that the central bank is prepared to supply as much in reserves as U.S. banks need. The latest move was made in coordination with the European central banks’ efforts to bolster their financial systems as well.
The Fed said it was also expanding the types of assets that investment banks can use as collateral to receive loans from the central bank. In March, the Fed used powers it obtained during the Great Depression to begin making loans to investment banks. Previously, the Fed only made direct lends to commercial banks.
Here is a brilliant article that describes the impact of several hundred years of aggressive privatization of the public good of credit creation.
It reminds us, dazed from the fog of international financier propaganda, of the value of hard work and our relationship with Russia.
It reminds us of the incredible productivity of people and the bounty of mother earth. It becomes so clear that all shortages (oil, NZ electricity, food etc) are artificially created to make enormous profits for the money creators.
Finally, it provides a solid solution, and even some personal actions you can take while you are waiting and praying.
Yes, most likely the Rothschild gang will end up getting their guy McCain to bomb Iran, 100’s of millions will die, and China will take over our banking after those wars bankrupt us as planned, but this alternative is something we must learn about and conspire to bring to life.
http://www.globalresearch.ca/index.php?context=va&aid=8854
http://snipurl.com/26vb8
“the privately-managed system of global financial capitalism gives ample opportunity for the world’s richest people to combine for their mutual benefit. Further, global financial capitalism itself is based on the monopolization of money-creation by a world banking system that is largely privately owned, even while working through the central banks of the largest and most prosperous nations. This article postulates the existence of a coordinated and longstanding matrix set up by the controllers of money to dominate the movements of history.”