Hardrock69
08-24-2007, 08:43 AM
The US Federal Reserve injected 17.25 billion dollars into the financial system in three actions Thursday, the latest in a series of moves designed to ease a credit squeeze in global markets.
The Federal Reserve Bank of New York, which handles the overnight repurchase agreements for the Fed, announced the actions on its website.
A first injection of seven billion dollars at 8:30 am (1230 GMT) was followed by another of the same amount at 9:40 am and a third of 3.25 billion at 9:55 am.
The latest injections brought the total to 120.5 billion dollars added to money markets in repurchase agreements in the past two weeks.
Central banks began a series of major cash infusions on August 9 to ease tightening credit due to a crisis in the US high-risk subprime mortgage sector.
The US central bank on Friday unexpectedly slashed its discount rate to commercial banks to 5.75 percent from 6.25 percent to ease lending between banks.
http://www.breitbart.com/article.php?id=070823142033.tdr8v597&show_article=1
Ok so they injected over 120 BILLION dollars into our economy.
Injected?
Yeah right. Considering the Fed is a PRIVATELY OWNED BANK, does this qualify as a 'loan' to the Federal Government? I mean, surely they are not dumping this cash into circulation with no hope of making a profit from it......
Fucking ridiculous....
:rolleyes:
The Federal Reserve Bank of New York, which handles the overnight repurchase agreements for the Fed, announced the actions on its website.
A first injection of seven billion dollars at 8:30 am (1230 GMT) was followed by another of the same amount at 9:40 am and a third of 3.25 billion at 9:55 am.
The latest injections brought the total to 120.5 billion dollars added to money markets in repurchase agreements in the past two weeks.
Central banks began a series of major cash infusions on August 9 to ease tightening credit due to a crisis in the US high-risk subprime mortgage sector.
The US central bank on Friday unexpectedly slashed its discount rate to commercial banks to 5.75 percent from 6.25 percent to ease lending between banks.
http://www.breitbart.com/article.php?id=070823142033.tdr8v597&show_article=1
Ok so they injected over 120 BILLION dollars into our economy.
Injected?
Yeah right. Considering the Fed is a PRIVATELY OWNED BANK, does this qualify as a 'loan' to the Federal Government? I mean, surely they are not dumping this cash into circulation with no hope of making a profit from it......
Fucking ridiculous....
:rolleyes: