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vriguy (71.66)

May 2010



The Fed shafts us again?

May 10, 2010 – Comments (6)

The Federal Reserve is reportedly arranging for 500 billion dollars worth of repo swaps with various European countries, Japan, and Canada, or at least giving them access to a swap window. The way I see it we're giving them relatively stronger dollars (at $1.30/euro) today in return for possibly weaker dollars (at $1.40/euro) sometime in the future.  Seems like a bad deal for the American taxpayer.  I do not really understand these transactions so I'm hoping someone here can shed light on whether my suspicions are justified.  [more]

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