We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow.
President Eisenhower said that in his 1961 Farewell Address.
You're there.
The European Central Bank, the U.S. Federal Reserve and the central banks of England, Switzerland and Japan announced Thursday they will provide unlimited amounts of three-month loans in U.S. dollars to euro zone banks, to ensure they have enough cash for the rest of the year.
The move was prompted by a growing scarcity of loans advanced to the banks by U.S. investment funds and financial institutions amid growing concerns about the health of the euro zone’s financial system.
During the Lehman meltdown of 2008, credit markets seized up when banks became reluctant or unwilling to lend money to other banks, for fear the loans would not be repaid. The lack of credit caused upheaval in the global economy, and unemployment moved sharply higher.
A brilliant plan. Just keep doing what you're doing and making it worse by design so that you can force further integration on the quivering, suckered masses.
But there was no indication that the move would be more than a short-term balm for the crisis engulfing the eurozone. U.S. Treasury Secretary Timothy Geithner is appear at a meeting of European finance ministers in Poland on Friday, where he is expected to urge his counterparts to follow through on their pledges to provide Greece with a second installment of financial aid that would allow the government to pay its bills.
They're just building a bigger time bomb right on schedule and as planned for 2012.
You know 2012, boys ? I know the name of your plan.
SPQR
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