Associated Press

Fed Easing Liquidity in Funding Markets

Tuesday March 11, 9:33 am ET
By Jeannine Aversa, AP Economics Writer

Fed Announces Further Steps to Ease Credit Crunch

WASHINGTON (AP) -- The Federal Reserve on Tuesday announced it is ramping up efforts to provide more relief to cash-strapped financial institutions, a coordinated action with other central banks aimed at easing a global credit crises that threatens to push the U.S. economy into its first recession since 2001.

The Fed said it will make up to $200 billion in cash available to cash-strapped financial institutions.

"Pressures in some of these markets have recently increased again," the Fed said in a statement. "We all continue to work together and will take appropriate steps to address those liquidity pressures." The other banks involved are the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank.

In addition, the Fed has authorized increases in existing programs called "swap lines" with the European Central Bank and the Swiss National Bank

"These arrangements will now provide dollars in amounts of up to $30 billion and $6 billion to the ECB and the SNB respectively," the Fed said, extending the term of these swap lines through Sept. 30.

The new lending initiative "is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally," the Fed said. Its announcement said that securities will be made available through an auction process on a weekly basis beginning March 27.

The new program, called the Term Securities Lending Facility (TSLF), is geared to provide primary dealers -- big investment firms that trade directly with the Fed -- with short-term loans. They would pledge other securities -- including federal agency debt, federal agency residential-mortgage-backed securities -- as collateral for the loans.

The loans would be made available through an auction process. Auctions will be held on a weekly basis, beginning on March 27, 2008.

The Fed since December has been making short-term loans available to banks through a new auction facility. It has provided $160 billion available to squeezed banks in hopes it will help them to continue lending to individuals and companies.

Last week, the Fed announced that it would increase the amount of loans it plans to make available to banks this month to $100 billion. At the same time, it said it would make another $100 billion available to a broad range of financial players through a series of separate transactions.

The Fed has been working to pump billions of dollars into the banking system to aid an economy rocked by the subprime mortgage crisis and the severe tightening of credit.

A meltdown in the housing and credit markets has made banks and other financial institutions reluctant to lend to each other, causing a cash crunch. Financial companies wracked up multibillion-dollar losses as investments in mortgage-backed securities soured with the housing market's bust. Problems first started in the market for subprime mortgages-- those made to people with blemished credit histories. However, troubles have spread to other areas.

The picture worsened just after the Fed's announcement Friday, when the Labor Department released a report showing employers slashed another 63,000 jobs in February, the most in five years.

They almost control all of the worlds money now. Canada, England, The Euro, the U.S. and even ties with the Swiss.

Is this why?

Billionaire bankers own the world......... amazing.

On a similar note... It's now a sin to become obscenely wealthy

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford

WHO CONTROLS THE WORLD'S FINANCIAL SYSTEM?




Despite widespread suspicion that the world's financial system is controlled by occult secret societies, this conspiracy theory is difficult to prove. The idea that secret societies are running the world is well established. For example, the Bilderberg group is well documented as an elite society of the world's top politicians and businessmen who meet in secret outside the democratic arena, but the public do not know what is discussed or decided at Bilderberg meetings.[1] Nevertheless, "The Insider" can provide some insight into the spiritual beliefs held by the men who control of the world's economy, by investigating how the financial system was established, and examining the relationship between finance and religion.

The men who control the global financial system certainly do not share the same beliefs as those who follow the major contemporary monotheistic religions - Judaism, Christianity, or Islam.



According to the Jewish Torah and the Christian Bible (Ex 22:25)[2], and the Muslim Koran (2:275)[3], charging interest (usury) on a loan is strictly forbidden by God. In the New Testament of the Bible, Christians are specifically instructed to "lend, expecting nothing in return" (Luke 6:34-35). Thus, in Christian doctrine, it is right lend money to those in need but wrong for the lender to seek profit from the loan.


In the scriptures, repossessing property secured on a loan is also directly against God's commandments, especially when someone's only source of shelter is pawned (Exodus 22:26)[4]. Apparently, God's original intention was that people should lend to eachother out of kindness, but not for greed or profit.

"If you lend money to my people, to the poor among you, you shall not deal with them as a creditor;
you shall not ask interest from them."

- Exodus 22:25
"Those who charge usury are in the same position as those controlled by the devil's influence. This is
because they claim that usury is the same as commerce. However, God permits commerce, and
prohibits usury."

- Qur'an, Al-Baqarah, Sura 2:275
Yet the law in many countries permits lenders to charge interest on debts, and law enforcement agencies actively assist lenders in recovering interest owed. The modern legal system also enables money lenders to repossess people's property, for instance somebody's home, if they is unable to repay a loan within the agreed time limit. Mortgage lenders can and do legally take people's property, even if it is their only refuge and they have already paid many times the true market value of the property including interest. In a display of inexplicable hypocrisy, the same law courts which uphold and enforce usury and repossession also require people to swear oaths on the holy books in which God directly forbids these activities.[5]

If you thought you were living in a society based on Christian principles, or Jewish or Muslim ones for that matter, then think again. We all live under the New Secular Order (Novus Ordo Seclorum) now, and this is just the beginning.

The modern global finance system was created by the Knights Templar[6], a medieval military and religious Order which officially came to a controversial and mysterious end on Friday, 13 October 1307 when the Roman Catholic Church closed them down[7], accusing their leaders of heresy and strange religious beliefs[8].

During the era of the Crusades the Templars possessed a huge multi-national empire, and until their demise they were arguably the most powerful organisation on Earth.[9] Could the official version of history be correct, that the entire organisation and its members had gone forever without a trace by 1312 AD? According to popular theory, the Templars went underground and formed the secret society of the Freemasons to preserve their secret tradition.[10] Inside sources do not always openly accept the relationship between the Templars and the Freemasons[11], although there are obvious connections between these two groups[12], and Masons make no secret of their continued interest in the Knights Templar[13]. There is no doubt that esoteric secret societies claiming direct descent from the Templars do exists today, which apparently follow the ancient Egyptian mysteries.

"The Insider" strongly recommends further research in order to better understand this important and interesting chapter of human history, because it has exerted a major influence on the development of contemporary civilisation. The repercussions of these events reverberate strongly in world events to this day - and perhaps more deeply than most people appreciate.

In April 2002 a number of big financial companies merged to form one of the world's largest investment corporations, and on 27 September 2002 the new company was named "Isis" after the ancient Egyptian goddess. Isis Asset Management Plc confirm their appreciation of the ancient Egyptian religious tradition by incorporating the crown of Isis, a horned solar disc, in their official logo. The company's own literature does not mention the religious or historical significance of this new name in the world of global finance, and it would not be apparent except to those with prerequisite knowledge. It would be understandable why, two years into the new millennium, a huge international financial institution has chosen to be named after an ancient deity, if the men who control the company possessed some knowledge of the ancient mysteries.

Those who control the world's largest corporations and financial institutions - the high-priests of capitalism - are among the most influential and powerful men on Earth. The strategies which they employ, and the policies to which you are expected to surrender, directly disobey the fundamental laws of humanity which most religious people believe were given to our ancient ancestors by God himself. The origin of their ideology can be traced back through an ancient brotherhood which apparently survives today in the form of modern secret societies. The course of history has been set, and the future of human civilisation shall be decided, by the influence of these businessmen - the most powerful men in the world.

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

"I believe that banking institutions are more dangerous to our liberties than standing armies...." "Already they have raised up a money aristocracy that has set the government at defiance. The issuing power (of money), should be taken from the banks and restored to the people to whom it properly belongs." The American Revolution was a struggle to wrest control of wealth from the Bank of England and to restore the centers of power to the People where it "properly belongs." The Constitution is specific about the authority of the People, through their elected officials, to control the money, and thus, the affairs of their government." - Thomas Jefferson

Dow Jumps 416 points on the news that the Fed can print money anytime it wants. :huh:

http://www.foxbusiness.com/markets/article...2_514202_2.html