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This article explains the weak dollar, the power of China over the dollar, and how current Fed policy (almost 0% interest to banks) is a windfall for the banks--and explains why Geithner said the US wanted a strong dollar. Why doesn't the Fed loan money to ordinary citizens for less than 1%?
The Fed, China, the Dollar, and More Profits For Banks
Seeded on Sat Dec 5, 2009 12:34 PM EST
Article Source: AL JAZEERA- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
More funds to the banking industry, paid for by possible future inflation... who's running the government and for whom? Why not just set up a federal agency to loan money to individuals for 1%? THAT would stimulate the economy!
- 1 vote
#1 - Sat Dec 5, 2009 12:39 PM ESTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
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