Is The Fed The New World Central Bank?

[Realistbear]

http://www.bloomberg.com/news/2010-12-02/federal-reserve-may-be-central-bank-of-the-world-after-ubs-barclays-aid.html

Fed May Be `Central Bank of the World' After UBS, Barclays Aid

By Bradley "Brad" Keoun and Hugh "Hewy" Son - Dec 2, 2010 5:00 AM GMT

Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

UBS was the biggest borrower under the Commercial Paper Funding Facility, with $74.5 billion overall, more than twice as much as Citigroup Inc., the top U.S. bank recipient, according to the data released yesterday. London-based Barclays Plc took the biggest single amount under another program that made overnight loans, when it got $47.9 billion on Sept. 18, 2008.

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures.

“Has the Federal Reserve become the central bank of the world?

I think that is a question that needs to be examined.”

Talk of dollar's demise could not be further from reality?

Edited December 2, 2010 by Realistbear

[Xurbia]

http://www.bloomberg.com/news/2010-12-02/federal-reserve-may-be-central-bank-of-the-world-after-ubs-barclays-aid.html

Fed May Be `Central Bank of the World' After UBS, Barclays Aid

By Bradley "Brad" Keoun and Hugh "Hewy" Son - Dec 2, 2010 5:00 AM GMT

Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

UBS was the biggest borrower under the Commercial Paper Funding Facility, with $74.5 billion overall, more than twice as much as Citigroup Inc., the top U.S. bank recipient, according to the data released yesterday. London-based Barclays Plc took the biggest single amount under another program that made overnight loans, when it got $47.9 billion on Sept. 18, 2008.

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures.

“Has the Federal Reserve become the central bank of the world?

I think that is a question that needs to be examined.”

Talk of dollar's demise could not be further from reality?

Would you say they saved the UK's banking system from collapse?

[uncle rogi]

Talk of dollar's demise could not be further from reality?

demise ? probably not.

devaluation ? more than likely (see argentina/iceland etc)

one ponzi scheme (the USD) on top of another (the ECB/EURO) is not a sound basis for a world monetary system (assuming there should even be one).

Edited December 2, 2010 by uncle rogi

[Sledgehead]

http://www.bloomberg.com/news/2010-12-02/federal-reserve-may-be-central-bank-of-the-world-after-ubs-barclays-aid.html

Fed May Be `Central Bank of the World' After UBS, Barclays Aid

By Bradley "Brad" Keoun and Hugh "Hewy" Son - Dec 2, 2010 5:00 AM GMT

Federal Reserve data showing UBS AG and Barclays Plc ranked among the top users of $3.3 trillion from emergency programs is stoking debate on whether U.S. regulators bear responsibility for aiding other nations’ banks.

UBS was the biggest borrower under the Commercial Paper Funding Facility, with $74.5 billion overall, more than twice as much as Citigroup Inc., the top U.S. bank recipient, according to the data released yesterday. London-based Barclays Plc took the biggest single amount under another program that made overnight loans, when it got $47.9 billion on Sept. 18, 2008.

“We’re talking about huge sums of money going to bail out large foreign banks,” said Senator Bernard Sanders, the Vermont independent who wrote the provision in the Dodd-Frank Act that required the Fed disclosures.

“Has the Federal Reserve become the central bank of the world?

I think that is a question that needs to be examined.”

Talk of dollar's demise could not be further from reality?

Only if quantity ensured a currency's future. I think the Zim$, French assignat, Weimar mark etc put paid to that idea.

Edited December 2, 2010 by Sledgehead

[oracle]

Not yet.

the world is about to be carved up into vastly different trading blocs than at present.(some people say 10,others say 4-with the southern one becoming 10-divisions/governships).

even the EU as it stands may not be quite as federalist as the present leadership intend it to be..the EU itself could comprise of 4 seperate districts(pretty much mirroring the geopolitical "quartet")

The eurozone is of course one,but don't write off the dollar just yet.They are to merge with canada and form something similar(an anglo-zone if you like...and that's the union we should be joining)

eurasia will do something similar again,and china will form it's own block in the southern hemisphere,comprising a few ex-britis colonies like south africa(and possibly australia/nz) in the process.

This southern bloc is a bit of an unknown quantity because it's going to be a real mix of states with different ideas,many of them quite populous.

brazil,india and china are certainly going to become regional heavyweights.

Edited December 2, 2010 by oracle