Developing...
UPDATE 1: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank have just announced coordinated actions to enhance their capacity to provide liquidity support to the global financial system.
UPDATE 2: According to the Fed, the purpose of the 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."
UPDATE 3: The central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to all operations conducted from December 5, 2011. The authorization of these swap arrangements has been extended to February 1, 2013. In addition, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank will continue to offer three-month tenders until further notice.
As a contingency measure, these central banks have also agreed to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of their currencies should market conditions so warrant. At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar, but the central banks judge it prudent to make the necessary arrangements so that liquidity support operations could be put into place quickly should the need arise, the Federal Reserve said. These swap lines are authorized through February 1, 2013.
BOTTOM LINE:Central banks have agreed on a major global money printing scheme. Major global inflation is on its way.
Source
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5 comments:
What you are witnessing is the groundwork for a "world Bank". When you have one world bank you have a one world government. They are now printing money for the world out of nothing. They will need one standard set of laws to govern the distribution of this global fiat currency and one global agency to enforce these new laws. There were two leaders who resisted this change in their countries in the immediate past. Saddam Hussein and Muammar Kadhafi. No nation will stand in the way of this conversion. None. It wouldn't suprise me to see conflict between the U.S....er...I mean....the U.N. and China or Russia as Syria - who also resists the one world bank/currency scam - and Iran come into the crosshairs. The next few months will be critical for our survival as a soverign nation. Keeps your eyes open America (or should that be spelled Amerika) Don't let this partisan bickering they've created and stir to distract us from the facts.
"Liquidity swap"....a term bankers use to describe one bank buying the bad debts and insolvency from another bank to make it look like everyone is doing just great. Then selling that debt back later to another bank, and so on and so on. Tricks are coming to an end. Even gold won't help --- you can't eat it or dring it and it won't keep you warm. If you haven't started already, you better start saving food and water and acquire the ability to protect yourself. Things will happen VERY quickly, as 9:51 alludes.
totally agree with 9:51 and 12:57. this will happen very quickly. the food market shelves will empty quickly and we will not be able to get water because the electric grid will be closed on and off. fuel will be very hard to get as the transportation will be haulted. life as we know it today will be over.
Life will not be over.
Instead everything that a person needs or wants to live a "normal" life (by 21st century standards) will cost too much to buy.
Only the very rich will continue to live a comfortable lifestyle.
But life will go on and on and on for the sheeple who call themselves Americans.
Funny thing.
We were always taught that America was a better country than Russia, France, England, Spain, China, etc.
Now we will PROVE it by helping those countries pay their debts to the Rothschild Banking Cartel.
We Americans will pay more taxes in order to settle their bad debts. We will do it gladly. Because by paying their debts we will demonstrate once and for all that we were BETTER than them.
Because we were and are better than them we will pay their debts.
Funny isn't it?
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