The Daily Paul has been archived. Please see the continuation of the Daily Paul at Popular

Thank you for a great ride, and for 8 years of support!

Comment: 3.08 Trillion to foreign banks, not 16T

(See in situ)

3.08 Trillion to foreign banks, not 16T

From the OP's linked article:

Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office's (GAO) analysis shows.

Additionally, asset swap arrangements were opened with banks in the U.K., Canada, Brazil, Japan, South Korea, Norway, Mexico, Singapore and Switzerland. Twelve of those arrangements are still ongoing, having been extended through August 2012.

Don't exaggerate the numbers; the truth is bad enough.

Personally, I don't much care if the money went to foreign thieves and looters rather than to domestic thieves and looters. In fact, it may be marginally better outcome: Money spent domestically will drive up prices here. Money sent abroad will drive up prices abroad, and only gradually trickle home. Best of all would not to allow thieving and looting at all, of course. And the Fedsters hanging from lampposts.

Recommended reading: The Most Dangerous Superstition by Larken Rose