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Which Foreigners Got the Fed's $500 Billion

Politics / Credit Crisis Bailouts Jul 21, 2009 - 09:17 PM GMT

By: Submissions

Politics Bernanke: "I Don't Know."


This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or 'central liquidity swaps' in Federal Reserve-ese').

Which financial institutions received this money? Bernanke's answer: I don't know.

As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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Comments

James Raider
22 Jul 09, 01:56
THE FED

Bernanke is the same expert who only last year told Congress wonderful fairytales about housing, the markets, and the economy just as the bubble was beginning its implosion.

Apply the controls available, without inventing new ones, and refrain from creating a Nation dependent on its government (through politicized cronyism) for financial success. Prosperity has no address on that road.

http://pacificgatepost.blogspot.com/2009/07/bernanke-and-super-fed-say-its-over.html

Make changes at the top and change the structure over money’s controls.


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