Fed Prints Another $200 Billion Out Of Thin Air
Guess who pays for this?
Wheeee! go the markets
"WASHINGTON (Reuters) - The U.S. Federal Reserve and four other central banks on Tuesday teamed up to get hundreds of billions of dollars in fresh funds to cash-starved credit markets, allowing financial firms to use securities backed by home mortgages as collateral for central bank loans.
Stocks surged, bonds fell and the long-suffering U.S. dollar soared in reaction to the moves, a sign financial markets saw the plan as a step in the right direction to ease a crisis that has threatened world economic growth. The Dow Jones industrials closed nearly 3.6 percent higher."
Wheeee!
helicopter ben
Wheeee! go the markets
"WASHINGTON (Reuters) - The U.S. Federal Reserve and four other central banks on Tuesday teamed up to get hundreds of billions of dollars in fresh funds to cash-starved credit markets, allowing financial firms to use securities backed by home mortgages as collateral for central bank loans.
Stocks surged, bonds fell and the long-suffering U.S. dollar soared in reaction to the moves, a sign financial markets saw the plan as a step in the right direction to ease a crisis that has threatened world economic growth. The Dow Jones industrials closed nearly 3.6 percent higher."
Wheeee!
helicopter ben
posted by nolocontendere at 8:21 PM
2 Comments:
manipulation, manipulation, manipulation...everything's fine!! manipulation, manipulation, manipulation
Just like that "economic stimulus" that's coming in a couple months, noiin. All it is is an advance payment of our own tax rebate from next year. Meaning we have to pay it back. The millions of people who calculate it very close with exemptions at work are going to have to come up with an extra $1200 at tax time in a year. And this "stimulus" is only meant to bail the fucking banks out as most people will use it to pay their credit card bills, the cards they're buying food and gas with.
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