Thread: Fed to bail out Europe (who's bailing out Greece)

[quote name='Lysander Spooner' date='10 May 2010 - 04:22 AM' timestamp='1273490526' post='149522']

Well folks, there goes your money. Wave goodbye, Sam....



http://news.yahoo.co...cial_crisis_fed



http://online.wsj.co...IDDLETopStories







"Dollar swap effort". Ha. Thie is the Fed using dollars to buy up more bad paper. After already buying 2.3 trillion dollars of bad mortgage paper. But what's another trillion? Drop in the bucket, right?



I smell something very bad in the mix. Greece is only the beginning, Portuguese CDS's closed at exactly the same rate as Greece's last night. Italy is right behind. There's only so long they can keep doing this....

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This is illegal for a couple of reasons, the main reason, is simple, the feds are prohibited from buying bad assets, the securities must show a net gain. This is also crazy, and it will only lead to a global inflation rate that is unprecedented.



These people want us to believe that bad paper is good for the economy, but as the swaps continue to tank, their only response is to continue to not only purchase them, but support the initial asset. This simply can't be done, and attempting it has on single result, and that result ain't what they are telling you.

TOPWRAP 1-Excitement over $1 trln euro plan fades, euro slips



This will be worse than the bailouts here, more and more to come, and the inflation, well you will see that for yourselves....



This is nuts, and the really crazy part is, no one seems to understand.