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Old 02-18-2012, 04:43 PM
Franc Tireur Franc Tireur is offline
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Petro-Dollars and the Oil Bourse

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Several years ago free trade, globalization, offshoring and outsourcing were discussed in the major media. As time wore on the issues disappeared and now it is not easy to find discussions of these policies virtually anywhere as the drain of jobs and companies leave the third world.

Not only have the better paying jobs been leaving, but the destruction of economic independence and sovereignty has been a victim as well, something few professionals, never mind the public, thinks about. If America is to ever have an economic recovery there will have to be trade legislation with tariffs on goods and services.

Over in Europe in December the ECB received a $1 trillion illegal loan from the Fed. 523 banks quickly borrowed $650 billion and late in February and they will borrow another $850 billion. Yes, they’ll borrow it all and then some, if available you might arbitrarily add 03% to the 1% cost to cover shortcomings of collateral. That isn’t all that bad because the average yield on senior unsecured bank debts are 4.3%. If invested that way that is a 3% return with little risk. They call this a license to steal. We the public don’t get these kinds of offers. That is $1.5 trillion and if fractionalized at 9 to 1 is more than $14 trillion. In a similar situation the Fed lent to Goldman Sachs, JPM and Morgan Stanley and they made $13 billion borrowing from the Fed, so you can see the tremendous profits that are going to be gleaned by European banks. We’d call this a subsidy or better yet a bailout.
http://www.globalresearch.ca/index.p...t=va&aid=29375

The mega banks at their best...What do you think?
 
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