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12-30-2011, 06:09 AM #1
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Fed secretly bailing out Europe Why am I not surprised
"This is not a risk free venture for the Fed"
Well, Bernake was told not to do it.
He told Congress he was not doing it.
But he's doing it anyway.
If you listened to Karl Denninger earlier this week, you know that this is going to lead to a total disaster. There's not enough money in the world to plug the hole in Europe trying is a very, very dangerous game.
Worst outcome. Everything goes south, the European Central Bank can't pay the Fed back, and all that Fed money goes bye-bye permanently.
But don't worry, if it goes wrong, you'll pay for it.
Congress has told the Fed not to bail out Europe.
Fed Chairman Bernanke in sworn testimony before Congress
said he is not.
Guess what?
He's lying and if it goes wrong, it's going to make
the 2008 Crash look like nothing.
Video:
http://www.realecontv.com/page/6364.html
Ken McCarthy
Real Econ TV
http://www.realecontv.com/videos/cen...ut-europe.html
Is anybody awake out there yet
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