Back in June 2011 Zero Hedge broke a very troubling story:
virtually all the reserves that had been created as a result of the
Fed's QE2, some $600 billion (which two years ago seemed like a lot of
money) which was supposed to force banks to create loans and
stimulate the US (not European) economy, ended up becoming cash at what
the Fed classifies as "foreign-related institutions in the US" (or
"foreign banks" as used in this article) on its weekly update of commercial banks operating in the US, or said simply, European banks.
Read more: http://www.zerohedge.com/news/2013-02-02/how-feds-latest-qe-just-another-european-bailout-vehicle
Read more: http://www.zerohedge.com/news/2013-02-02/how-feds-latest-qe-just-another-european-bailout-vehicle
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