Quote:
Originally Posted by aussenseiter
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I might be reading it wrong but I think it's a fiscal alliance to prevent the contagion thing within the Western bloc by spreading out the risk.
As usual France is not helping.
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So we were lending credit to banks by allowing them to trade equity at the dollar value of treasuries on the day of the swap, meaning they couldn’t drop in value and the fed would eat the cost. That’s my understanding of what we’re doing for our banks. What I don’t understand about this is why those other central banks would be doing this for their own banks BUT in amounts denominated in USD
But I’m most likely misunderstanding the entire situation. I abhor usury and don’t see how any of these people add value and how banking and finance isn’t just over leveraged dickheads making profits off speculation and running to the government for a bail out every 10 years when their risk taking leads to collapse