Posted on 12/02/2011 8:59:01 AM PST by SeekAndFind
RE: World GDP is only about 62 trillion dollars a year!
So, the good old US of A’s economy is 1/4th of the world’s GDP?
It seems clear to me — if the world economy is going to recover, it has got to start HERE first. And if we implode, the rest of the world does too.
Some people were saying the US never gave money to foreign government banks during the meltdown.
Some sites and blogs were reporting about these loans to foreign governments at the time it was happening but weren’t sure about the amount of dollars involved.
Wouldn’t be surprised the loan amounts were even higher via the Plunge Protection Team, SWAPS, Bank of Japan and all the other unreported backdoor possibilities.
This video gives clarity to the situation.
http://www.youtube.com/watch?v=zI5hrcwU7Dk
They were overnight loans and they are counting the sum of the daily loans, not the amount that was outstanding at any one time. So if you borrow $1 million consistently every night, over a 3.5 year time frame, they are reporting it as 365*3.5*$1 million = $1.3 Billion, when you never borrowed more than $1 million.
It’s a ridiculous way of counting designed to make the Federal Reserve look bad.
All of the loans had collateral and they were all paid back with interest.
The Federal Reserve is the only one up there doing what they are supposed to be doing. The problem is congressional spending, not the Federal Reserve.
There are people like Soros and China who would like to see the Federal Reserve replaced with something they can control or something like the gold standard, that they can manipulate and make money off of.
There is only one candidate with the right response to this.
Just one.
We all know it, whether we like it or not.
The Federal Reserve can loan to foreign central banks, or to foreign banks that do business in the U.S. and have reserves with the Federal Reserve.
It doesn’t loan to foreign banks that don’t do business in the U.S. directly. Any such loan is coordinated through that country’s central bank.
How could we not, there's been a new article on it every other day for the past year, each article making it sound like this is a new secret revelation, that we didn't know about before.
Or that wasn't in the audited Federal Reserve financial statements that have been on the Web forever.
2009 Combined Federal Reserve banks - Independent Auditor Report on Page 3
2009 Federal Reserve Board financial statements - Independent Auditor Statement Page 2
Financial Statements of the Federal Reserve Banks (Combined and Individual banks)
tar and feathers just won’t cut it for this level of government crime
No nothing to worry about. Instead worry about congressional overspending and the erosion of the American manufacturing base and all the associated jobs and services that go with it. Don't worry about the FED.
How bad is it really?
How much do they have as outstanding loans at this moment?
Of the kind reported on by this article about $14 Billion. However total loans not to the U.S. government amount to about $67 billion and this includes $40 billion that was associated with Bear Sterns and AIG.
As of October 26, 2011:
Yeah, but that creepy detached eyebrow thing is a total deal-breaker for me.
/sarc
You are diluted. The US dollar is the world’s reserve currency. It’s the US’s job to make sure the world banks are properly funded in US dollar or, any excuse will do.
You can buy bonds from the US Treasury but the Federal Reserve distributes the cash/credit and by looking at the article, distributes at will worldwide.
Because when people do international transaction they prefer to do it in dollars.
They trust the dollar more than other currencies. They would rather hold the dollar than other currencies, and they'd rather receive payment in dollars rather than other currencies.
They can trade in any currency they want to or any combination of currencies they want to. There is nothing stopping them. There's no international law declaring us the reserve currency and saying they have to trade dollars. They choose dollars.
No foreign banks received taxpayer funded TARP loans.
Foreign central banks did do liquidity swaps with the Fed.
You can read all about it here.
Have you heard about the bond collapses and pension checks stopping? It’s already gone too far. The defaults are already happening. Too late to deflate. Buy and store extra food.
Contagion Catastrophe: Europe is closer than you think to bringing down the American Economy
http://www.freerepublic.com/focus/f-news/2815233/posts
You are mistaken. Clearly I am concentrated.
You have got to be kidding me.
Didn’t you bother to read this post with its article esp. page 131 as part of the excerpt? It says, before all the listed banks including the foreign ones receiving bailout monies, that money was lent out under “Broad-Based Emergency Programs” (12/2007 through 7/2010). The dollar amounts are in Billions.
You are quoting some fantasy guidelines usurped by TARP that was crafted by then Secretary of State Paulson and approved by Congress with little or no guidelines on lending during the meltdown.
It took a FOIA lawsuit by a newspaper and others to get the Federal Reserve to release these figures. The word ‘secret’ appears a few times in the report when referring to funding all banks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.