Wednesday, June 15, 2011

The Federal Reserve Acted In The Service of Foreign Banks

Bernanke Helps Out China and Beyond (Now foreigners in control of part of U.S. money supply)

June 15, 2011
By Rober Wenzel

ZeroHedge has done some fascinating reporting with regard to the explosion in the cash balances of branches of foreign banks who are primary dealers.

Primary dealers are dealers who can deal directly with the Federal Reserve. They are the usual suspects Goldman Sachs, JPMorgan Chase etc. plus the branches of foreign banks approved by the Fed. Here is the list via ZH, with the foreign branches in bold:  Read More