RonPaulCentral
10-31-2008, 12:59 PM
CNNMoney.com
Banks borrow record amount from Fed
Friday October 31, 10:21 am ET
By David Goldman, CNNMoney.com staff writer
http://biz.yahoo.com/cnnm/081031/103008_fed_borrowing.html
So in this article the following caught my attention:
(1) The Fed reported that commercial banks borrowed a record $111.9 billion a day, on average, from the Federal Reserve's emergency lending window over the past week. That's up $6.1 billion from the $105.8 billion they borrowed in the previous week.
Ok... So lets see..... $111.9 Billion a day x 7 Days = $783 Billion Per Week
Ok, next.....
(2) Investment banks, meanwhile, borrowed $87.4 billion a day, on average, down $23.9 billion from $111.3 billion a week ago
Ok, so investment crooks, er I mean banks took $87.4 Billion x 7 Days = $611 Billion
(3) One such program, the Fed's Commercial Paper Funding Facility, has helped lower borrowing rates and provided critical short-term financing to businesses in desperate need of cash. The Fed said it has bought up $143.9 billion in commercial paper since the program began Monday.
Ok, so another $143.9 Billion spent by the good ol FED (And in 5 days!!)
----------------------
SUMMARY OF THE SCREW JOB:
$783 Billion - Commercial Banks (One Week Borrowing)
$611 Billion - Investment Banks (One Week Borrowing)
$143 Billion - Spent buying "commercial paper" (5 Days)
--------------
GRAND TOTAL $1.537 TRILLION IN DOLLARS ENTERS THE WORLD IN ONE WEEK THANKS TO THE CRIMINAL FEDERAL RESERVE BANKING EMPIRE.
And yet the dollar "rallies"..............
We are all in deep deep shit.
Banks borrow record amount from Fed
Friday October 31, 10:21 am ET
By David Goldman, CNNMoney.com staff writer
http://biz.yahoo.com/cnnm/081031/103008_fed_borrowing.html
So in this article the following caught my attention:
(1) The Fed reported that commercial banks borrowed a record $111.9 billion a day, on average, from the Federal Reserve's emergency lending window over the past week. That's up $6.1 billion from the $105.8 billion they borrowed in the previous week.
Ok... So lets see..... $111.9 Billion a day x 7 Days = $783 Billion Per Week
Ok, next.....
(2) Investment banks, meanwhile, borrowed $87.4 billion a day, on average, down $23.9 billion from $111.3 billion a week ago
Ok, so investment crooks, er I mean banks took $87.4 Billion x 7 Days = $611 Billion
(3) One such program, the Fed's Commercial Paper Funding Facility, has helped lower borrowing rates and provided critical short-term financing to businesses in desperate need of cash. The Fed said it has bought up $143.9 billion in commercial paper since the program began Monday.
Ok, so another $143.9 Billion spent by the good ol FED (And in 5 days!!)
----------------------
SUMMARY OF THE SCREW JOB:
$783 Billion - Commercial Banks (One Week Borrowing)
$611 Billion - Investment Banks (One Week Borrowing)
$143 Billion - Spent buying "commercial paper" (5 Days)
--------------
GRAND TOTAL $1.537 TRILLION IN DOLLARS ENTERS THE WORLD IN ONE WEEK THANKS TO THE CRIMINAL FEDERAL RESERVE BANKING EMPIRE.
And yet the dollar "rallies"..............
We are all in deep deep shit.