Central Banks’ Latest Move Shows Desperation: This isn’t a financial crisis … it’s a bank robbery.
By Washington's Blog
Global Research, December 1, 2011
Washiington's Blog - 2011-11-30
The coordinated swap line bailout by the Federal Reserve, the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank- and China’s reduction of reserve requirements by .5% – shows desperation. (For background on swap lines, see this, this and this.)
The Street notes:
In a separate article, The Street points out:
Ron Paul said today:
As I noted last year:
Indeed, the fact that China coordinated its big cut in reserve requirements on the same day that the big Western central banks and Japan extended swap lines shows the magnitude of panic among world economic leaders.
But At Least a Handful of Insiders Will Make Out Like Bandits
Jim Quinn writes:
Indeed, just as with Hank Paulson’s little tip to the big boys – which is nothing new – some insiders probably made a killing by being tipped off about the swap lines. See this and this.
This isn’t a financial crisis … it’s a bank robbery
Thursday, December 1, 2011
Posted by Deb Simon at Thursday, December 01, 2011