As the author notes: "No matter the legalistic interpretation, the Fed is, working through the ECB, bailing out European banks and, indirectly, spendthrift European governments." The point to posting this? We are systematically collecting all the world's financial problems, deferring them, but rolling them into one big climactic Dollar crisis. This is a wealth transfer from ordinary Americans and others who hold dollar denominated financial assets, to bankrupt banks (or banksters), and governments in Europe.
Gerald P. O'Driscoll Jr: The Fed's covert bailout of Europe | Gold Anti-Trust Action Committee:: www.gata.org/node/10825
http://chumly.com/n/efe6d6
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