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MAYDAY ALERT: Fed BAILOUT today is for PREPARATION for a Euro collapse - THEY FOOLED YOU!
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THIS IS IT PEOPLE. DECEMBER 9TH MARKS THE SPOT!!!
THE AVERAGE PERSON HAS NOT A CLUE; THEY'RE JUST HAPPY THAT THEIR 401K PLANS SHOT UP TODAY!
Q+A: Why everyone cares about dollar liquidity swaps
Q. Why did the central banks act?
The banks said it was "to ease strains in the financial markets" that threaten access to loans for individuals and companies. Outside experts offered more urgent descriptions, ranging from stemming a run on European banks by their money market lenders, to bolstering the markets in case of a collapse of the euro, to, possibly, heading off damage from an imminent failure of a major bank.
"They're basically responding to the looming failure of the European Summit on December 9," said Cornelius Hurley, director of Boston University's Morin Center for Banking and Financial Law and former assistant general counsel at the Federal Reserve. "They're putting foam on the runway."
[link to www.silobreaker.com]
Lowering the cost of currency swaps for investors enabling investors to swap Euros for US dollars cheaply, in quick fashion, is a sign that doom and gloom fastly approaches. Batten down the hatches people!
What does swapping one doomed currency for another doomed currency equal?
Answer:
[link to www.youtube.com]
JD
UPDATE ALERT: 7:22PM (EST): FSA urging Banks to prepare for break up of Euro
Britain's biggest banks have been urged by the City regulator to prepare for a break-up of the eurozone.
The head of the Financial Services Authority (FSA), Hector Sants, has told financial institutions to accelerate plans for a separation of the single currency area, Sky's City editor Mark Kleinman has learned.
Senior excutives from Barclays, HSBC, Lloyds Banking Group, RBS, Santander UK and Standard Chartered were given the warning at a private meeting with the FSA boss.
[link to news.sky.com]
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