or at least TRY to from link "The Federal Reserve and other global central banks announced a coordinated effort to boost the financial system Wednesday by making it easier for banks across the world to trade in U.S. dollars. The step is the most dramatic effort taken by the Fed to contain a European debt crisis that threatens to spark a global recession. "The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity," the Fed said in a statement. The Fed and their equivalents in Europe, Canada, England, Japan and Switzerland are joining forces to "enhance their capacity to provide liquidity support to the financial system." Under the agreement, the banks have agreed to lower the cost of existing temporary agreements to swap U.S. dollars for other currency. They have extended these arrangements to Feb. 1, 2013. The lower rate will take effect on Dec. 5.Under the agreement, the banks have agreed to lower the cost of existing temporary agreements to swap U.S. dollars for other currency. They have extended these arrangements to Feb. 1, 2013. The lower rate will take effect on Dec. 5. " The Link good idea? bad idea? is there a choice?
i like how they keep trying to push back the collapse a little farther down the road. our global version of kick the can. they must need a little more time to build their private bunkers.
Disgusting. This is just another tax on all Americans used to bail out the Euros. The euro is going to collapse regardless. This is just prolonging the inevitable.
Our Fed QE3ing Europe to preserve the value of our dollar here in America is really a corrupt round about form of inflation and thus wealth transfer, which will only accelerate as the crooks sense the end nearing.
^^^^ Yeah, except, I think China is smart to do so. We get involved way too much. We are too busy being world leaders and not busy enough protecting ourselves. An economic collapse in Europe could cause a worldwide depression. However, the US will further weaken itself by getting involved. Then, the US will be in a similar position to Europe, if we aren't already. We are somewhat damned if we do and damned if we don't. The best comparison would be the policy of too big to fail, here in the US, but on a much larger scale. Countries and their populace need to learn austerity and bailouts are not the way to correct the underlying problem.
