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RPGWatch Forums » General Forums » Politics & Religion » Fed bailed out Euro banks?

Default Fed bailed out Euro banks?

June 12th, 2011, 08:22
http://www.zerohedge.com/article/exc…estic-economy-

"In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!"
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June 12th, 2011, 09:51
Depends on what people mean by foreign financial institutions. Located outside the US? Not fully owned by the US?
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June 12th, 2011, 21:47
That's defined in the article, CA. You might consider reading it.

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June 13th, 2011, 01:11
The article makes some technical arguments that I'm not qualified to analyze, but it does specify US BRANCHES of foreign banks. Since these branches are in the US, they could be considered aspects of the US economy regardless of who owns them.
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June 13th, 2011, 06:23
your fed also bailed out a Libyan bank based somewhere in Arabic peninsula, it was in "free money" article.
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June 13th, 2011, 08:53
Originally Posted by dteowner View Post
That's defined in the article, CA. You might consider reading it.
I did. I must have missed the point then. The article takes the approach from the US'side. The same approach must be taken from the other side, foreign banks to know whether or not those foreign banks are clear from US action.

Banks are an intertwined network. Looking at one side is not enough and foreign banks might be foreign only by names as US banks (can) deploy a similar activity on those foreign banks' 'national' ground.
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