The U.S. Federal Reserve gave $600 billion to Foreign Banks in Seven Months

[Alex Colter]

Er I mean to say PIIGS is for Portugal, Ireland, Italy, *Greece*, and Spain.

On Mon, Jun 13, 2011 at 5:54 AM, Alex Colter <recoignishon at gmail.com> wrote:

>  "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!"
>
> The Fed's $600 billion stealth bailout of foreign banks continues at the
> expense of the (U.S.) Domestic Economy, Or Explaining Where All the QE2
> Money Went<http://www.zerohedge.com/article/exclusive-feds-600-billion-stealth-bailout-foreign-banks-continues-expense-domestic-economy->
>
> Propinquities Pynchonian? PIIGS, I have just learned, is an acronym coined
> to refer to Portugal, Ireland, Italy, & Spain ( I have also recently learned
> that a pig's orgasm lasts 30 minutes, O' Internet!)
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://waste.org/pipermail/pynchon-l/attachments/20110613/afa8d906/attachment.html>