The Chicanery Between the Fed and ECB
The Chicanery Between the Fed and ECB
– twin balance sheets near peak levels and many European nations back in recession. Methods of understating US unemployment rates
Posted by mybudget360
The Fed and ECB (European Central Bank) have taken notes from the exact playbook in dealing with the global financial crisis. People tend to believe that these are somehow fully set government agencies but in reality, they are designed to protect their number one constituency group. The Fed and ECB have the primary mission of protecting select financial institutions. At their core they are where the bankers bank.
I was examining the balance sheets of both the Fed and ECB and from 2008 onward their reactions to the financial crisis have been nearly mirror images. But ask most Americans and Europeans if their trillion dollars of asset maneuvers have worked out. To the contrary, many of the European nations are back in recessions while in the US the unemployment rate only falls because people are dropping out of the workforce or being shadowed out in colleges with massive student debt. The central banks have succeeded in allowing the financial system to essentially transfer the waste onto the backs of the public.
Fed and ECB balance sheet look like financial twins
If we look at the balance sheets of the Fed and ECB we realize that they are still holding onto peak levels of questionable assets. First, look at the Fed balance sheet:
fed reserve balance sheet 2012
Not much has changed and the number of “assets” held by the Fed are still near peak levels. Keep in mind that we already know some of these items included failed luxury hotels, strip malls, and gambles that bankers took in the real estate bubble. You need to ask how does this help working and middle class Americans? Nearly five years later we know the answer is that it does not help the public but rather subsidizes the risky bets of the banks in toxic real estate deals.
This only happened in the US with the Fed right? Actually, the ECB essentially followed down the same path: Read more>>The Chicanery Between the Fed and ECB
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