$85 Billion Created by Fed from Thin Air to Avert Global Financial Meltdown
By Mike Adams, September 16, 2008 | Key concepts: Federal Reserve, Derivatives and Money supply
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The Fed has just diluted the U.S. money supply by yet another $85 billion in a desperate move to prevent a global financial meltdown that could crash every major bank around the world. This $85 billion is created from thin air, diluting the money supply and sapping the purchasing power of your dollars. It's business as usual in the U.S.: Bail out the rich bankers, and leave the working people to ultimately foot the bill.
From Bloomberg.com: American International Group Inc., the biggest U.S. insurer by assets, has been offered an $85 billion U.S. loan in return for an 80 percent stake in the company, according to a person familiar with the situation. The Federal Reserve was persuaded to offer the loan because of the risk that an AIG failure would threaten the stability of world financial markets, according to the person, who declined to be identified because negotiations were confidential. Efforts to find a private-sector solution failed because the company is too big and a long-term fix was needed, the person said.... more
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