Forum Post: Demand for Dollars from Fed's Discount Window Swells in Europe by 12,735% After Fed Cut Rates on Dollar Swap Lines
Posted 12 years ago on Dec. 8, 2011, 9:06 a.m. EST by MonetizingDiscontent
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Demand for Dollars from Fed's Discount Window Swells in Europe by 12,735% After Fed Cut Rates on Dollar Swap Lines
http://globaleconomicanalysis.blogspot.com/2011/12/demand-for-dollars-from-feds-discount.html
-December 07, 2011-
On November 30, Central Banks Cut Rates on Dollar Swap Lines... http://globaleconomicanalysis.blogspot.com/2011/11/china-cuts-bank-reserve-ratios-by-5.html ...which made borrowing at the Fed's discount window cheaper for foreign banks than US banks.
As a result, Dollar-Loan Demand Swells In Europe and Japan: http://www.nytimes.com/2011/12/08/business/global/ecb-sees-surge-in-demand-for-dollar-loans.html?_r=2&adxnnl=1&partner=rss&emc=rss&adxnnlx=1323353108-F2K0LF1XAOlFrVzKLiDwMw
We talk about the dollar all the time and how it's being systematically devalued and printed into oblivion. But when it comes right down to it, no one, not even the government, has a say in what the fed does. We need good ol' Ronny now more than ever.
We are f*cked. As the Euro and Europe falls, we will be drug down along with them. Then the real hard times will hit.