Guess Who's Bailing Out Europe? You Are!
Below is a short excerpt from an article over at Rick Ackerman's site entitled Watch T-Bonds, Not the Criminally Insane Dow. Pay close attention to the last few lines. I know the average person on the streets doesn't understand credit swaps any more than I do, but here's the bottom line. No one will loan Europe any more money, so the Fed is stepping in and loaning them YOUR money. Again, all courtesy of the banksters who now control the world courtesy of YOUR money. If you have been reading this blog for any time at all and you still own financial assets (bank accounts, stocks, bonds, mutual funds, etc.), then you deserve what you are about to get because your refusal to educate yourself and opt out of the system is part of the problem! The only way to stop this game is to refuse to play it by storing your wealth in gold and/or silver that they can't create out of thin air.


"If DaBoyz can squeeze a 500-point Dow rally out of yesterday’s administered easing of dollar “swap” rates, just imagine what they can do with a little Santa seasonality and a dollop of year-end window-dressing. Let’s be straight about a couple of things. First, no one expects the latest easing of global credit lines to resolve Europe’s debt crisis. And second, the 800 points the Dow has tacked on this week represent little more than trading machines masturbating each other amidst a short-covering panic. Some observers merely yawned, noting that the swap arrangements that make it easy and cheap – and now even easier and cheaper, if such a thing were imaginable — for foreign banks to borrow dollars have been in place since 2007. However, others saw the announcement by the central banks as nothing less than a bold step by the Federal Reserve to begin monetizing the debt of Spain, Italy, Greece, France et al.

It’s a moot point whether the U.S. has begun bailing out Euro-deadbeats, however, since the U.S. is a deadbeat itself, albeit one in sole possession of the world’s reserve currency and therefore of the ability to gin up unlimited quantities of the stuff at will. Meanwhile, there’s little point in pretending that the U.S. is somehow not immersed in the bubbling cauldron of toxic global finance. U.S. banks had stopped lending to their European counterparts, and that’s why the Fed stepped in to pretend it has the situation under control. This may work for another week or so, if that long, but it’ll be interesting to see whether reducing swap rates to near-zero will help suppress sovereign borrowing rates that recently topped the 7% “red zone” for Italy. Would you lend the Italian government hundreds of billions of dollars at 7%? That’s what we thought. But if you live in Europe or the U.S., you’ll be doing it anyway – and for a lot less than 7% –courtesy of the bankers."