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Scooped by L. Charles Burch onto MN News Hound |
Scoop.it!
Virtually all the reserves that had been created as a result of the Fed's QE2, some $600 billion (which two years ago seemed like a lot of money) which was supposed to force banks to create loans and stimulate the US (not European) economy, ended up becoming cash at what the Fed classifies as "foreign-related institutions in the US" (or "foreign banks" as used in this article) on its weekly update of commercial banks operating in the US, or said simply, European banks.
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Scoop.it!
A question keeps nagging at me: Are all of us, including the left, reacting to an entirely engineered reality, fed to us via an all-embracing media? We get blown this way and that, all of it being determined by whatever ‘event’ the globalized media decides to feed us with. Then, just as ‘mysteriously’, the ‘event’ disappears to be replaced by yet another ‘event’. Delete the scoop?
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