Forum Post: Central Banks Throwing Our Money Away Again
Posted 13 years ago on Nov. 30, 2011, 8:48 a.m. EST by aahpat
(1407)
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This morning U.S. and European Central Banks are throwing trillions of dollars more in easy money at global banks and Wall Street because the banks and Wall Street are refusing to use the trillions of dollars they have on their books.
After the original banking crisis hit governments raised capitalization standards for banks to prevent another crisis. Now, instead of forcing the banks to reduce their dangerous assets to meet government imposed liquidity standards the Central Banks are pumping even more cheap and easy money into the banks that already have too much money in hand that they are not circulating into economies where it could do the world some good.
This is massively inflationary money pump serves only to prop up banks that should instead be reducing their dangerous balance sheets to safer levels.
This whole thing is so sad. Capitalism allows weak businesses to fail. Capitalism doesn't exist anymore.
I can't believe this isn't bigger news. How can anyone argue against OWS with this type of activity by our govt in favor of Wall Street and against our citizens happening?
Well said. But the MSM paints everyone in OWS as communist hippies, so the public doesn't actually understand that it is this type of Fed action that OWS despises.
This isn't the government. It is the Federal Reserve and other Central Banks acting unilaterally and in opposition to the laws passed since the 2008 crisis to prevent unsafe big banks trashing the economy AGAIN!
The Federal reserve today is acting in opposition to the laws made by the Congress of the United States and against the interests of the American people to prop up banks that even the right-wing S&P today downgraded.
OWS should be marching on the Federal Reserve right now.
I have tried hard to be supportive of the Federal Reserve during this crisis since 2008 but this action is clearly in opposition to laws passed to prevent another crisis. It is supportive only of the "too big to fail" banking model that got us into this mess.
The Federal Reserve Bank of the United States is a clear and present danger to the United States of America.
IMPEACH THE ENTIRE FEDERAL RESERVE BOARD!!!!
Federal Reserve Counterfeiting and Embezzelment Club..Since 1964,printing money backed by no goods or services,controlling money supply for 300 years,ransacking the world,oppressing and raping people and environment,in a never ending quest to dominate every man, woman, and child,stradling them with debt slavery shackles..
All these banks should be nationalized. Full stop.
Unbelievable. Oil prices are up nearly 2% this morning on the news.
Gold silver and copper are spiking as well.
All very inflationary, for us.
The Central Banks are defeating the legislation by governments since the financial collapse that imposed new higher standards to force the banks to reduce their risk. Instead the banks are extorting the central Banks by refusing to put the trillions of dollars they have to work in the global economy. While at the same time continuing to create their most dangerous lending instruments.
The Federal Reserve and other irresponsible Central Banks are ignoring the problems and propping up the irresponsible Wall Street gangsters.
It's disgusting, isn't it?
Unfortunately, many people will see the stock market rally and think "wow, this is great", but then complain about how high their home heating oil and food prices are