Saturday, May 15, 2010

The Fed Currency Swaps Begin

That didn't take long.

The Federal Reserve provided $9.205 billion of liquidity to foreign central banks since reopening foreign exchange swap lines this last week, the New York Fed reports.

The European Central Bank was the only institution to draw on the swap lines this week, swapping the full $9.205 billion amount.

The terms for the ECB swap were eight days at 1.22 percent, the New York Fed said.

This number has to be watched closely. If it gets out of control ($100 billion or more), there is no way the Fed will be able to sterilize that kind of money printing and severe inflation will be on the way.


  1. Why don't 'we the people' swap the shitty
    federal reserve thieves...for printing out own damn money...interest free!!!
    Why pay interest on our own money? By printing at interest, the money is debt ridden
    right off the printing press...because we pay the interest to PRIVATE BANKING THIEVES.
    We need to demand that money creation is returned to the people. If they fight, we should print our own gold backed currency.
    (Besides gold backed currency would be practically inflation free.)
    Refuse to use fiat trash-bondage notes.
    Then we won't see private banking thieves stealing our money and giving it away to whomever they please...without even informing us where our money went. And to top it off, the federal government would be forced to balance its budget. A win-win situation for the people.
    Down with the bloody Federal Reserve!!!
    Down with fractional reserve banking!!!

  2. Who knows how true any of the doomsday stories, or, how or what will reduce the quality of life , mountains of mis information, tend to make the masses over react, firsale assests, or over pay for a few houses, or borrow and spend 125% of your weekly paycheck, but if 700 Trillion in bad bets were made, thats 10 time global GDP, really no way, without severe hardship, to recover from that, every cent from the world for next 10 years, or don't pay, and jail the people that used the world as collateral for Casino Bets ! Return USA