The Federal Reserve's Unauthorized Massive Bailout Of Europe (and Possibly Japan)

On Monday of this week, I posted a commentary by Ron Paul calling for the halt of a coming Federal Reserve bailout out of Europe (The Coming Fed Bailout of Europe Must Be Stopped!)

Now, beltarian insider Gerald O'Driscoll (former vice president at the Federal Reserve Bank of Dallas and later at Citigroup and now a senior fellow at the Cato Institute) warns, in WSJ, that the bailout that Ron Paul warned about has started, when one examines the latest Fed reports.

O'Drsicoll writes:

This Byzantine financial arrangement could hardly be better designed to confuse observers, and it has largely succeeded on this side of the Atlantic, where press coverage has been light.
Perhaps MSM is spending time on what Dr. Paul didn't write 20 plus years ago versus what he is actually writing now.

Here's O'Driscoll warning about what Dr. Paul spotted:

America's central bank, the Federal Reserve, is engaged in a bailout of European banks. Surprisingly, its operation is largely unnoticed here. [Except for Ron Paul-rw]

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