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  • Jon

Jon

8 months ago

in The Fed’s Ballooning Credit Extensions on The Washington Independent
So... if you were the fed and you needed to shrink the money supply to prop up the sinking dollar, how would you do it without asking citizens to give their dollars back?

Simple, sell a financial crisis to Americans and congress:

• Think about it, 8.4 trillion (http://news.yahoo.com/s/ap/wall_street) evaporate from the stock market this year! and still growing
also see - http://www.foxnews.com/story/0,2933,436435,00.html
• 6 trillion (est. http://news.goldseek.com/GoldSeek/1220622331.php) disappear from the housing market in the last two years.
• Untold trillions disappear from the financial banking institutions.

Then, after the fear mongering on Capital Hill two weeks ago, the 'Commercial Paper' market freezes up and the Fed makes moves to take that over. One more option for them to collect interest from banks and corporations that need to borrow massive amounts (we're talking billions and trillions here) of short term funds.

Now, private banks are consolidating and being bought up by the fed.

How is this good for America?
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