Thursday, April 7, 2011
The Primary Dealer Credit Facility = $9-Trillion+
The Primary Dealer Credit Facility - according to CNN Money and ProPublica, the total extent of this UNDISCLOSED Federal Reserve 'Emergency' (no-interest) Loan program between May 2008 & 2009, was $9-Trillion, and although $7-trillion of the PRINCIPAL has been 'repaid', this represents an increase in the money supply of ~$90-T. Meaning the US$ is worth 1/3 less today than in '08. Has your salary, home equity, or the value of investments risen by 33% in the last three years? If so, you are a winner of this game. Also, the Banks gave bonuses as a result of this 'increase' in capital and lend the money to corporations at interest, creating debt of nothing, and that expense is passed on to the consumer as a cost of business. If they had failed to pay back these 'loans' the US Taxpayer would have been responsible, via an increase in US National Debt. (so much for pocket change of the $700-B TARP, and $800-B 'Stimulus')
http://money.cnn.com/2010/12/01/news/economy/fed_reserve_data_release/index.htm
http://projects.propublica.org/tables/treasury-facilities-loans
http://money.cnn.com/2010/12/01/news/economy/fed_reserve_data_release/index.htm
http://projects.propublica.org/tables/treasury-facilities-loans
The Primary Dealer Credit Facility = $9-Trillion+
2011-04-07T00:06:00-07:00
Philosopher3000
Subscribe to:
Post Comments (Atom)