"The mechanism for the bailout of Europe is the Fed's provision of dollar credit in virtually unlimited amounts via central bank swaps lines.....the Fed swap lines help the bankrupt nations of the EU ignore their mounting fiscal problems......Fed Chairman Ben Bernanke is engaged in a little geopolitical engineering in Europe -- and the people of the EU do not yet realize that a political change in control has occurred.... the leaders of Europe now find themselves beholden to the Fed for their continued political existence.... Chairman Bernanke and the FOMC have but to terminate the Fed's swap lines with the various central banks of Europe or start selling the MBS portfolio in the US, and governments from Washington to Berlin will start to fall."
"More fed swap Lines for Europe and the End of Globalization", Clifford Rossi, Institutional Risk Analysis
This has been the constant theme of this recession, soon to be depression. The powers that be, especially in the US, seize or weasel into control of huge entities so that they control everyone else's very existence. They now have it set up to the point that they can almost instantly collapse countries, banks, markets...
Is there any possible way that is a good development?
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