Translation Of Today's Fed Announcement

[DemocratInSoCal]

Here's the "official" announcement:

Source: Associated Press

(03-16) 16:31 PDT WASHINGTON, (AP) --

The Federal Reserve announced a series of new steps Sunday to help provide relief to a spreading credit crisis that threatens to plunge the economy into recession.

The central bank approved a cut to its lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately, and created another lending facility for big investment banks to secure short-term loans.

The steps are "designed to bolster market liquidity and promote orderly market functioning," the Fed said in a statement. "Liquid well-functioning markets are essential for the promotion of economic growth."

The new lending facility will be available to financial institutions on Monday.

It will be in place for at least six months and "may be extended as conditions warrant," the Fed said. The interest rate will be 3.25 percent and a range of collateral will be accepted to back the loans.


And now the Translation:

The Federal Reserve announced a series of new steps Sunday to help Bail Out banks in a spreading credit crisis that has Already plunged the economy into recession.

The central bank approved a cut to its lending rate to financial institutions to 3.25 percent from 3.50 percent, effective immediately, and created another lending facility for big investment banks to secure short-term Giveaways.

The steps are "designed to Crash The Dollar and promote Disorderly market functioning," the Fed said in a statement. "Illiquid poorly-functioning markets are essential for the promotion of CEO wealth."

The new Giveaway facility will be available to financial institutions on Monday.

It will be in place for at least six months and "Will be extended as conditions are Certain to warrant," the Fed said. The interest rate will be 3.25 percent and a range of Zero-Value collateral will be accepted to back the loans.

[JDPriestly]

1. DemocratinSoCal, you got it!!!

Thanks for posting this. Let there be no mistake. Although the Republicans are to blame for this, let's be honest: the very Republicans who caused this will profit from it.

The good news is that Air America Radio has been telling us Democrats to buy gold for months now. Wish I had bought even more. Thanks, Air America Radio where facts are just as important or more important than opinions.

[CK_John]

5. I doubt Air America was telling anyone to buy gold that would be giving advise without a lic but

all the gold sellers have been buying paid advertisement to sell you gold. Not the same thing.

[JDPriestly]

12. They buy ads and the announcers you trust read the ads.

[Demeter]

2. Link?

The Fed cut interest rate on a Sunday? They couldn't wait for Tuesday?

Do they want to crash the economy that badly?

[DemocratInSoCal]

3. Discount Rate Only

The Discount Rate was 1.0% Higher than the Fed Funds Rate, until last year. Then, they lowered it 1/2%, so it was only 1/2% Higher than FFR.

Tonight, they Lowered it another 1/4%, so it is now 1/4$ Higher than FFR.

There are supposedly some differences between borrowing under the Discount Rate versus the FFR, which is the commonly referenced rate.

Basically, all you need to know, is they're GIVING MORE MONEY AWAY, and CRASHING THE DOLLAR some more.

[Yael]

6. Here ya go

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3019027

[Greyhound]

4. Good translation.

You left out the part how what it is doing will not help one single family to keep their homes, however.
ETA; :kick: & R

[HysteryDiagnosis]

7. I'm sure the people who are foisting this on us are the same ones

who cheated at Monopoly when we were kids.

[corkhead]

8. Bail out? Surely these 8 figure salary republicon bank CEOs are too proud to accept these handouts

that would be socialism.

[sarcasmo]

9. DEPRESSION is a coming.

[superkia]

10. They will continue to make sure the elite make mor and more...

money, as they destroy the dollar, run us into poverty and then eventually switch to a new currency. Probably the amero or whatever they will call it and Canada, Mexico and the U.S.(otherwise known as The North American Union) will probably all use this as their new currency.

[HuffleClaw]

11. this crash will 'justify' them stealing the social security money i bet

which i'm told has been their plan for generations

[Elidor]

13. Nicely done

Harrowing, but nicely done.

:applause:

[LuckyLib]

14. Yes indeed, socialized risk and privatized profit.

Makes my blood boil.:grr: