More money laundering by Obama.
Ping
THE U.S. FEDERAL RESERVE BALANCE SHEET EXPANDS DRAMATICALLY
http://jsmineset.com/2010/04/17/market-commentary-from-monty-guild-59/
Our friend, Larry Jeddeloh of The Institutional Strategist, in his Market Intelligence Report of April 14, 2010 brought an important point to our attention. He points out a large increase of $421 billion in the Federal Reserve’s balance sheet in the same week that the Greek Bailout took place.
The bailout for Greece was only $41 billion and the Fed balance sheet expanded by $421 billion in loans. What is going on? Obviously the Fed is lending a lot of money. Was some of it lent abroad? We do not know.
One other explanation is that the loans, the U.S. banks had kept off of their books in offshore SIV’s [Special Investment Vehicles] are coming back onto their banks’ books, and the Fed is lending against them to provide liquidity for U.S. banks. This brings us to a major question that all investors and U.S. taxpayers should consider. How did the accounting profession allow this SIV type of activity, where banks were allowed to keep liabilities off their U.S. books in the first place?
Greece in trouble, now junk status but what happened to that $421.8 billion the Fed loaned out?
http://www.freerepublic.com/focus/news/2501828/posts?page=1