Did The Fed Just (Surreptitiously) Bail Out Europe? No, not just Greece - all of Europe. Without Congressional authorization or notice, of course.
Hattip to a nice emailer....
Or if you prefer it on a one-year time scale...
That nice little vertical line is a gain of $421.8 billion dollars of outstanding loans and leases in one week's time.
WHERE THE HELL DID THAT MONEY GO AND WHAT COLLATERAL WAS TAKEN AGAINST A FOUR HUNDRED BILLION DOLLAR INCREASE IN OUTSTANDING LOANS?
You won't find anything like that in the records - because it's never happened before. That's beyond unprecedented, it's ridiculous, and assuming it's also accurate, someone has some 'splaining to do on what clearly appears to be some sort of back-door game being run.
The Market Ticker, April 12. 2010 by Karl Denninger
