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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (94565)	11/4/2010 2:00:43 PM
From: chartseer	Respond to of 224779

The Federal Reserve is known as the lender of last resort. When an institution or a bank is on the verge of collapse or bankruptcy and cannot borrow money anywhere else the Fed is the "Lender of last resort"...... Now the U.S. Treasury is borrowing money from the Federal Reserve. This is the same as the U.S. Treasury just printing up the money it needs. This is called monertization the currency. In all of history this has never worked out well. The Fed chief had said this would never be done. So much for what the Fed chief says. Seems like everyone wants to just get rid of their US currency before it becomes worth less on it's way to being worthless. comrade chartseer