According to Farias: BREAKING Bush Just Ordered The Fed To Release $620 BILLION. End Run Around

[Wiley50]

congress

amd, if true , Inflation from hell and Death of the Dollar

Waiting for more

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3518671

Fed Pumps Further $630 Billion Into Financial System

Source: Bloomberg

Sept. 29 (Bloomberg) -- The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, causing stocks to plunge and forcing European governments to rescue four banks over the past two days alone.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5...


what happened to democracy?

[gateley]

1. Who/what is Farias? Thanks. nt

[alstephenson]

7. Jeff Farias.

Has a show on NOVA-M radio. eom

[gateley]

12. Thanks -- since you posted this, there have been a couple of other

threads on it, so apparently he's not the only one talking about it. :hi:

[girl gone mad]

2. This happened earlier today..

and the markets still tanked. So much for saving the system by throwing good money after bad.

[Warpy]

3. yes and no

People tend to be dumb and panicky and there will be runs on banks.

This is just to ensure the banks have enough cash on hand to stay open.

[babylonsister]

4. It was released before the bailout failed, according to this:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4126010&mesg_id=4126010

http://firedoglake.com/2008/09/29/fed-to-congress-well-just-print-630-billion-dollars-k-thx-bye/

Fed to Congress: We’ll Just Print 630 billion dollars K? Thx Bye.

[Wiley50]

6. Sorry Folks, I've been out all PM and saw this first thing upon returning

Did see the market closing numbers on tv at doctor

I had just been thinking that he might even declare himself dictator
and order the bailout by decree

so I was in a mood to spook

[tularetom]

5. Need more $$$? Just print it

http://firedoglake.com/2008/09/29/fed-to-congress-well-just-print-630-billion-dollars-k-thx-bye/

[lurky]

8. This doesn't buy any of those worthless derivatives

so they are still on the books of those companies.

[kestrel91316]

9. $10 gas, here we come. And $10 gallons of milk, and loaves of bread.

And 20% unemployment.

Enquiring minds want to know: what grades did Bush and his advisors get in economics in college?

[OmmmSweetOmmm]

10. Kick and recommend! This is a back door scheme!!! Our Congress has now become obsolete.

[OmmmSweetOmmm]

18. ........

[Ilsa]

11. "Ordered" the Fed? I figured Bernanke just decided to do it. nt

[entanglement]

13. They can infuse as much liquidity as they please - but they can't force banks to lend to each other

or to others. IANAE, but how do you solve a credit crisis (caused by a lack of trust) by printing more $$$?

[Trillo]

14. Looks like a " high crime" to me.

Looting the U.S. Treasury without congressional authorization.

[hack89]

15. Somehow I doubt it. nt

[neverforget]

16. Helicopter Ben Bernanke is really busy with those printing presses.

[OmmmSweetOmmm]

17. Kick!

[Supersedeas]

19. the Chimperor can not wait for Democracy