Friday, April 10, 2009

Nationalize the Federal Reserve!

Huffington caught on to what the Fed is up to a long time ago:

"Now, however, the Fed will be able to take the foreign currency it acquires in these swaps, and rather than hold it on its balance sheet, pass it on to U.S. banks, according to minutes from the Federal Open Market Committee's March meeting. These U.S. banks can then use that foreign currency to cover their foreign debts."

Obama really needs to either heavily regulate the Fed or, even better, NATIONALIZE the Fed.

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