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Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever

Tyler Durden's picture


Two years ago, Zero Hedge first made the observation that the bulk of Fed reserves (also known simply as "cash created out of thin air" because money is first and foremost fungible no matter what textbook theoreticians may claim, and the only cash allocation preference is the capital allocation IRR analysis) had been parked not with US banks, but with foreign banks with US-based operations. We followed that with more analyses, showing explicitly how the Fed was providing a constant cash injection to foreign banks courtesy of the rate on overnight reserves which is the amount Fed pays to banks that hold reserves with it, as the bulk of reserves continued to end up with foreign banks - a situation set to become a huge political storm some time in 2014-2015 when the IOER has to rise and the Fed is "found" to have injected tens of billions of "interest" not into US banks but in foreign banks operating in the US, and which then can upstream the "profits" to insolvent offshore domiciled holding companies.

So it was our expectation that while if not slowing down its rate of money-creation (i.e., reserve-production) - something that won't happen for a long time as it would crash the stock market - the Fed's reserves would at least revert to being accumulated at US-based banks. No such luck. In fact as the latest H.8 report demonstrates, as of the most recently weekly data, the Fed's policies have led to foreign banks operating in the US holding an all time high amount of reserves, surpassing $1 trillion for the first time, or $1,033 billion to be precise.

This means that, as we expected several months ago, the only recipient of ongoing Fed money printing are not US banks, but foreign banks operating in the US. For those confused about the big picture, here is a chart showing the breakdown of cash held by big and small US banks as well as foreign banks, superimposed to total reserves created by the Fed since the start of the Great Financial Crisis. The correlation is 100%.

And just to prove that ALL the unsterilized cash from both QE2 and QEternity has essentially gone to support offshore banks, here is the conclusive chart showing the change in Fed reserves and cash held by foreign banks:

Finally, tying it all together, here is chart showing cash at US banks vs cash at foreign banks operating in the US. At $1.03 trillion in foreign cash, the Fed's policies have once again led to more cash being held by foreign banks than all cash held by domestic banks.

We are confident that we speak for all when we say: "Thank you Ben - insolvent foreign banks appreciate your ongoing QE2 and QEternity-funded generosity"


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Tue, 05/21/2013 - 12:03 | 3584272 Headbanger
Tue, 05/21/2013 - 12:04 | 3584308 spankfish
spankfish's picture

Ben Bernanke doing his global Apocalypse Now, Ride of the Valkyries helecopter drop.

Tue, 05/21/2013 - 12:20 | 3584373 knukles
knukles's picture

There are NO Problems with the Banking System Overseas.
Just you little pecker-heads wait until we divulge our total (unnetted) swap lines and Other Assets

Tue, 05/21/2013 - 12:34 | 3584397 The Thunder Child
The Thunder Child's picture

"Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever"

What about the GAO audit which showed $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010 to both domestic and foreign banks. Does that not count or are we supposed to forget about that by now Tyler?

UK bank's Barclays PLC

$868 billion


$541 billion


$181 billion

Deutche Bank AG

$354 billion

Dresdner Bank AG

$135 billion


Tue, 05/21/2013 - 12:37 | 3584419 Divided States ...
Divided States of America's picture

Yup but my bank account gets less and less with low interest rates and a falling dollar. This fucker is a financial terrorist coz hes blowing up my hard earned life savings.

Tue, 05/21/2013 - 13:09 | 3584499 SamAdams
SamAdams's picture

The dollar, our number one export, followed by bombs and soldiers.  USA, USA, USA!!!

Tue, 05/21/2013 - 15:28 | 3585099 imaginalis
imaginalis's picture

Wall Street says Greed is Good.


But they really mean to say Cheating is Good.


Cheating Fucks are still Greedy

Greedy Fucks are still Cheating

Tue, 05/21/2013 - 20:08 | 3586070 King_of_simpletons
King_of_simpletons's picture

Just Buy The Fucking Dip (BTFD) and Sell Before Shit Hits (SBSH)

Wed, 05/22/2013 - 19:35 | 3589276 Shocker
Shocker's picture

We are pumping money everywhere.

Is this really going to help the current situation?


Tue, 05/21/2013 - 13:25 | 3584559 SafelyGraze
SafelyGraze's picture

the fedRes has been bailed in by foreign banks

cyprussed before cyprus

Tue, 05/21/2013 - 12:21 | 3584380 Ruffcut
Ruffcut's picture

The fed has to feed its own. Using that license to print and enjoying every minute of it. Buying all assets, getting more control, thus more power. Its great when a plan comes together.

Make all checks payable to: the feDerAL reSerVe

Tue, 05/21/2013 - 12:35 | 3584415 optimator
optimator's picture

To all those dummies that tried to conquer the world through military power and failed:

Your could have done it with a few printing presses.

Wed, 05/22/2013 - 01:57 | 3586773 nc551
nc551's picture

To be fair the reason the printing presses have so much power is because of our military might.  I believe it is somewhere around 900 bases in around 150 countries.  We did take over the world and the presses are used to extract wealth.

Tue, 05/21/2013 - 12:19 | 3584367 Aeternus
Aeternus's picture

They will never stop printing, they can't, not now, not ever. Position your finances accordingly.

Tue, 05/21/2013 - 12:59 | 3584472 illyia
illyia's picture

So, that means: 1T down 6xxT to go?

Kill the bad derivs regardless...Like lessening the deficit v. debt: Just stop creating moar.

Makes a person wonder what's really going on behind the scenes... i.e. are they really doing that?


Tue, 05/21/2013 - 11:58 | 3584278 101 years and c...
101 years and counting's picture

i still think ben has the best job in the history of the world.  burn down the current financial system because of blatant ignorance and then try to fix it by simply creating money on a laptop.  lying to congress and getting away with it.  AND GETTING PAID TO DO SO.

Tue, 05/21/2013 - 11:59 | 3584286 ApollyonDestroy
ApollyonDestroy's picture

..and getting a sweetass fallout shelter in the meantime 

Tue, 05/21/2013 - 11:59 | 3584282 PiltdownMan
PiltdownMan's picture

And thank Bennie and the Fed for pumping tons of air into the California housing market. Bubbles Bernanke? This guy has a good analysis of housing and The Fed.

Tue, 05/21/2013 - 12:08 | 3584323 GMadScientist
GMadScientist's picture

Sometimes you need to pay attention not only to what is being bought, but by whom.

Speculation ain't growth.

Tue, 05/21/2013 - 13:34 | 3584602 DosZap
DosZap's picture

And thank Bennie and the Fed for pumping tons of air into the California housing market. Bubbles Bernanke? This guy has a good analysis of housing and The Fed.

Great, the question is HOW long will the buyers have a job to pay for them?.At the rate we are currently seeing, I am betting Melt Down part deaux'.

Tue, 05/21/2013 - 17:25 | 3585528 IrritableBowels
IrritableBowels's picture


Tue, 05/21/2013 - 12:25 | 3584287 Kaiser Sousa
Kaiser Sousa's picture

thats ur taxes like good little american serfhoes...

the bankers need their paper like a hog needs slop...


no bitch ass banker slaves over here!

Tue, 05/21/2013 - 12:00 | 3584290 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Viva El Bernank!

Tue, 05/21/2013 - 12:00 | 3584291 FXWulf
FXWulf's picture

Im gonna go Pain and Gain style on ben... right after the dude who won the 600mln in florida gets revealed.... im a do'er

Tue, 05/21/2013 - 12:06 | 3584313 GMadScientist
GMadScientist's picture

Nice cheap talk.

Tue, 05/21/2013 - 12:16 | 3584355 FXWulf
FXWulf's picture

thanks brother, its really all i got left

Tue, 05/21/2013 - 12:02 | 3584293 Cognitive Dissonance
Cognitive Dissonance's picture

"You ain't seen nuttin' yet." - Benjamin S 'Benny Bucks' Bernanke

<They must keep the EU 'experiment' alive bro.>

Tue, 05/21/2013 - 12:02 | 3584297 Cdad
Cdad's picture

Thank you, Ben Bernanke, for this financial and economic wasteland which you have made for me and all of my Average Joe brethren.  We thank you for suppressing our purchasing power.  We thank you for your overhang over the corporate landscape.  We thank you for continuing to fuel DC's spending insanity.  Mostly, we thank you for your continuous bailout of the criminal syndicate known as Wall Street and its zombie banks...who continue to pervert and break our free markets.

A grateful nation awaits...for your resignation...although your prosecution is preferred.   

Tue, 05/21/2013 - 12:03 | 3584303 TrustWho
TrustWho's picture

At least we know POTUS Obama DOES NOT KNOW anything about this.

Tue, 05/21/2013 - 12:10 | 3584332 Hedgetard55
Hedgetard55's picture

Pesident Pakalolo does what he is told, they reward him with choom, it's all good.

Tue, 05/21/2013 - 12:04 | 3584309 Dr. Engali
Dr. Engali's picture

The foreign banks will take the liquidity now, but once the trading blocks are all firmly in place they are going to shove that shit right back down the Bernank's throat.

Tue, 05/21/2013 - 12:45 | 3584443 kralizec
kralizec's picture

Did Ben at least get a cool T-Shirt?


Tue, 05/21/2013 - 13:04 | 3584485 Dr. Engali
Dr. Engali's picture

Spider-Man towel.

Tue, 05/21/2013 - 13:13 | 3584507 waterwitch
waterwitch's picture


Tue, 05/21/2013 - 12:58 | 3584469 buzzsaw99
buzzsaw99's picture

they aren't foreign banks they are jpm counterparties that must keep paying

Tue, 05/21/2013 - 12:06 | 3584314 cloudybrain
cloudybrain's picture

they can burn money papers when it get colder

Tue, 05/21/2013 - 12:06 | 3584315 TrustWho
TrustWho's picture

I told you, Daddy Bernanke cares so much for the little people of USA he will stretch the law until it breaks for the good of all the stupid people.

Tue, 05/21/2013 - 12:14 | 3584318 Ham-bone
Ham-bone's picture

I don't know what "foreign" even means anymore?  Domestic, foreign?  All these reserve holders seem to inhabit the same place and it's a very different place from where I live.  They have their own laws, their own rulers, and seem sovereign entities to me. They make money from nothing, tell me what money is, and tell me how much I owe.  They "swap" currencies in the trillions...and tell me their asset is my liability.  It's all very foreign to me. 

Tue, 05/21/2013 - 12:07 | 3584320 847328_3527
847328_3527's picture

Americans are very generous peoples, aren't they. They don't mind retiring a few years later so their friends in Europe are comfortable.

Tue, 05/21/2013 - 12:08 | 3584324 kurzdump
kurzdump's picture

Ben does what he has to do to keep the US afloat. How else should the huge negative trade balance of the US be balanced if not by inflating bubbles? Seriously, what whould happen if Ben stops pressing the buy / print buttons?

Tue, 05/21/2013 - 12:10 | 3584339 Hedgetard55
Hedgetard55's picture


Tue, 05/21/2013 - 12:13 | 3584345 LawsofPhysics
LawsofPhysics's picture

Well, for one thing, all those dollars would retain some purchasing power, in fact, they might coming roaring back into the U.S. economy to purchase all kinds of real assets!  Boyah!  Oh wait...

Tue, 05/21/2013 - 12:36 | 3584384 Dr. Engali
Dr. Engali's picture

Exactly why this will end badly. The Bernak must print to make up for our lack of production. To support our consumption the major export nations need a steady stream of debt. The problem is the Bernank is destroying the debt's buying power in order to fund our duel deficits. Eventually it will get kicked rejected by the suppliers.

As an empire the U.S. loots the wealth of it's citizens to support the system where Rome looted the wealth nations it conquered.

Tue, 05/21/2013 - 12:51 | 3584454 kralizec
kralizec's picture

Ben's way of saying he would rather face barbarians at home rather than barbarians from abroad?

Uhh, what's the diff?!

The end for Ben & Co is the same, poor insane bastard.

Tue, 05/21/2013 - 12:56 | 3584467 kurzdump
kurzdump's picture

It will end in totalitarian police states with forced labour before it eventually collapses to pure chaos after a few decades. Warlords and failed states will emerege everywhere all over the planet. Some nations might seal off and survive for a while. There will be wars, starvation, plagues. Its gonna happen - theres no way around it. 

Tue, 05/21/2013 - 13:02 | 3584475 Dr. Engali
Dr. Engali's picture

There are ways around it, but it would require bravery and people doing the right thing. Two traits that unfortunately can not be found in a dying empire of hedonism and self-absorption.

Tue, 05/21/2013 - 13:05 | 3584491 kurzdump
kurzdump's picture

Well said.

Thu, 05/23/2013 - 15:40 | 3593322 MeelionDollerBogus
MeelionDollerBogus's picture

Don't be mistaken, the looting of other nations did take place here. The looting of citizens is merely cream on top.

Tue, 05/21/2013 - 12:12 | 3584336 IamtheREALmario
IamtheREALmario's picture

The BIS tied central banking system which the Fed belongs to and is beholden to above all else is a global empire looking for a way to more perfectly control and subjugate the masses for its benefit. The global banking system instigated the wars in Iraq, Afghanistan, Libya, now Syria and in the future Iran as the means to have EVERY country of the world subjugated by a BIS tied central bank. Those countries had previously been free of the evil bankers.

Given that as the frame of reference rather than the frame of reference that the Fed is somehow a sovereign US or sovereign US government entity makes it easily understandable.

The two questions are:

1. Should something be done about it? Maybe it is actually right and good to be subjugated and controlled by slimey, self serving bankers.

2. If something should be done about it, then what?

To actually fight it, the paradigms of warring governments, warring religeons, warring races and warring social classes have to be cast aside as just dialectic manipulation (by the powers that guide the banks) designed to keep the human population of the this world divided and unable to see past the immediate crisis.

Tue, 05/21/2013 - 12:14 | 3584348 LawsofPhysics
LawsofPhysics's picture

"designed to keep the human population of the this world divided and unable to see past the immediate crisis." - precisely why those who don't see a crisis are often targeted first.

Tue, 05/21/2013 - 12:13 | 3584346 Inthemix96
Inthemix96's picture

Now this falls somewhere between unpossible and downright fucking criminal this does,

Let me be clear my ZH friends, tax avoidance is the best possible solution for each and everyone of you posting here this afternoon, you see withholding as much as is humanly possible from this system of fucking thieving loons is the best way forward for all of humanity.  this way we bring these fuckers to their knees and deprive them of the oxygen they need to survive and prey another day.

This is so far down the route of outright evil, and outright theft its hard to keep a clear tab on it.

Remove yourself from this fucking treasonous system as soon as you can, and as fast as you can, bring this fucker down.

Tue, 05/21/2013 - 12:18 | 3584365 FXWulf
FXWulf's picture

couldnt pay taxes if i wanted to anyhow... too busy trying to eat and stay out of living in a cardboard box.... just waiting for the blackhawk helicopters and drones to show up and throw me in a cell for life ... happy happy joy joy

Tue, 05/21/2013 - 12:23 | 3584368 Bay of Pigs
Bay of Pigs's picture

Listening to this Steve Miller IRS criminal is all the proof we need that the FED gov't has gone completely rogue.

Far from upholdoing the rule of law, they are breaking it willfully and brazenly, yet nobody knows anything or why it is occurring.

This bullshit goes right to Geithner's and now Lew's feet, and we all know who they work for

Tue, 05/21/2013 - 12:51 | 3584453 Inthemix96
Inthemix96's picture


The interesting dilema these fuckers have is that they know we know what they are doing, and how much criminality is involved along the way, these fuckers is stalling for time as when this shit show collapses, there wont be a place on Earth they will be safe.

Qui bono?  This is well above geethners and lews pay grade, this smells of top of the tops level shit.  Fuck me, isnt the greasy fucking scumbag geethner meant to have an IQ level in the low 70's?

Tue, 05/21/2013 - 13:48 | 3584665 Legolas
Legolas's picture

Leaving the system is not going to bring it down.  That would presume they spend only what they take in.  And we all know they abandoned that scruple many years ago. 

Leaving the system is just the wise, ethical thing to do, and that out to be reason enough.

Tue, 05/21/2013 - 12:14 | 3584351 ebworthen
ebworthen's picture


Tue, 05/21/2013 - 12:22 | 3584383 Seasmoke
Seasmoke's picture

the is nothing FEDERAL about the Federal Reserve


Enemies Foreign AND Domestic

Tue, 05/21/2013 - 12:30 | 3584404 ApollyonDestroy
ApollyonDestroy's picture

True, but through the heavy hand of 'marti' we'll all soon be FEDERALLY fu**ed. Unless you don't live in the US, then lucky you 

Tue, 05/21/2013 - 12:23 | 3584387 newworldorder
newworldorder's picture

Where does the US Constitution fit into this?

Are we governed by its principles in LAW or has the FED been given extra-judicial powers voted into law by the Congress of which we ware not aware of.

This issue is not a banking or accounting practices problem. It is a governace issue concerning the mandate given to the FED by the Congress of the United States.

Tue, 05/21/2013 - 12:31 | 3584406 LawsofPhysics
LawsofPhysics's picture

"It is a governace issue concerning the mandate given to the FED by the Congress of the United States." - Correct, now remind us, what do politicians need to get "elected" again?  What's that little thing called "lobbying" all about again?

Tue, 05/21/2013 - 12:32 | 3584408 Conax
Conax's picture

The Constitution was trampled over to establish fractional reserve banking fiat currency.  Our 'dollar' is 371 grains (24.1 grams) of silver according to the Constitution, and nothing else can be substituted.

Yet here we are.  I hope Woodrow Wilson is enjoying his legacy from beyond, we sure ain't.

Tue, 05/21/2013 - 12:29 | 3584403 EastCoast90
EastCoast90's picture

I could just picture Ben Bernanke dozing off at the printing press and the bank mafia bosses yelling at Bernanke PRINT MOAR!!, PRINT MOAR!! FASTER, FASTER. Then Ben awakens startled and replies "I'm printing as fast as I can" then he dozes off again.  

Tue, 05/21/2013 - 12:31 | 3584407 Craxi
Craxi's picture

If you want to understand why no one gives a shit about the IRS scandal and the other scandals du jour...just check out Nate Silver's newest post where he claims the "improving" economy is boosting Obama's approval rating

Tue, 05/21/2013 - 13:44 | 3584643 DosZap
DosZap's picture

If you want to understand why no one gives a shit about the IRS scandal and the other scandals du jour...just check out Nate Silver's newest post where he claims the "improving" economy is boosting Obama's approval rating

WHAT improving economy, it's all smoke mirrors, LIES.My spouse is losing her job of 22yrs, with a firm of over 25k employees,as are many hundreds of others.

Thu, 05/23/2013 - 15:28 | 3593279 MeelionDollerBogus
MeelionDollerBogus's picture

but... but.. it's for the children!

Tue, 05/21/2013 - 12:33 | 3584410 vote_libertaria...
vote_libertarian_party's picture

Maybe Issa can put a stop to it....hahhaahhaahahahahahahahaaa

Tue, 05/21/2013 - 12:33 | 3584411 Jena
Jena's picture

OT: Obama to meet with Chinese president Xi Jinping at Sunnylands, the former Annenberg estate in Rancho Mirage next month but I'm sure that he won't be told anything of any significance:

Tue, 05/21/2013 - 12:51 | 3584413 ekm
ekm's picture



Bank of Nova Scotia, New York Agency
BMO Capital Markets Corp.
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co (USA)
Citigroup Global Markets Inc. (USA)
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.(USA)
HSBC Securities (USA) Inc.
Jefferies LLC (USA)
J.P. Morgan Securities LLC (USA)
Merrill Lynch, Pierce, Fenner & Smith Incorporated (USA)
Mizuho Securities USA Inc.
Morgan Stanley & Co. LLC (USA)
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
SG Americas Securities, LLC
UBS Securities LLC.


I highlighted the USA ones, the rest are non USA.


1) I DO NOT TRUST FED DATA. It's simply government manipulated data

2) Would anybody in his right mind think that US primary dealers need no money?

3) Since any gov data is always manipulated as positive as possible, the situation is at least 10 times worse.

Tue, 05/21/2013 - 12:37 | 3584420 credo
credo's picture

Ideas for further elucidation in future stories:

1. How specifically is the Fed injecting this cash?  Are they buying U.S. bonds from the foreign chartered banks?  Buying crappy old U.S. mortgage securities from foreign banks?  Is Ben buying European bonds?  Is that technically possible under QE2 / QEE?


2. Speculation on the purpose?  Is this a U.S. under the table attempt to try and help stablize European banks so the ECB doesn't have to print?  Is this part of why many European sovereign bond yields have stablized and gone down during QE3, cause Fed reserve money is being converted via some shadow mechanism, traveling to Europe, and buying bonds?  the bottom line of this process would end up being something like an exchange of U.S. bonds/MBS via the Fed and the shadow banking system for European sovereign bonds helping stablize European debt prices and the banks.  


Any insights?

Tue, 05/21/2013 - 12:47 | 3584446 Clowns on Acid
Clowns on Acid's picture

Ask Robert Rubin. The Fed has had to bail out (errr...add liquidity to) the foreign banks or they would not be able to settle on all the IRS and CDS (and everything else) with the US banks.

Brooksley Born warned of this insane scenario in late 90's but Robert Rubin and Alan Greenspan overpowered her. They sent her to the woodshed.

In fact a "statute was passed in 2000 called the Commodity Futures Modernization Act [CFMA] that took away all jurisdiction over over-the-counter derivatives from the CFTC. It also took away any potential jurisdiction on the part of the SEC, and in fact, forbids state regulators from interfering with the over-the-counter derivatives markets. In other words, it exempted it from all government oversight, all oversight on behalf of the public interest".

It was the beginning of the end. First LTCM as a "rogue" hedge funbd was backstopped by the Fed (Greenspan), and it took until 2008 for all the cards to come falling down systemically.

Tue, 05/21/2013 - 13:02 | 3584476 newworldorder
newworldorder's picture

We the American people whether we know it or not have truly ceded control of our lives to the world wide banksters. There does not appear to be any power under law to change this. The illusion is stronger than reality.

Tue, 05/21/2013 - 12:41 | 3584431 Tombstone
Tombstone's picture

In any event, no matter how you slice and dice Benny's QE quackery, the good old US taxpayers, the few remaining at least, are the people on the hook.  If this thing goes south, be prepared to pony up the majority of your paycheck and investment earnings to the socialists.  After all, the illusion of socialist craptopia must be keep alive, even if it requires artifical life support.

Tue, 05/21/2013 - 12:46 | 3584445 gatorengineer
gatorengineer's picture

Confusing converted Yen and Benny bucks........????


Even if all of the MBS's they were buying were foreign, still wouldnt explain the cash.?


I think all you are seeing is a short yen, short Euro trade.......


As Credo says whats the rest of the story?




Tue, 05/21/2013 - 13:47 | 3584658 DosZap
DosZap's picture

 Boost in the econ must be the decision YET again to destroy all mil surplus brass.NO MORE can be sold to any mfgr of reloads.It's is all being shredded and sold to?............yep, CHINA.

Tue, 05/21/2013 - 22:26 | 3586421 House of Medici
Tue, 05/21/2013 - 12:48 | 3584447 stiler
stiler's picture

I heard about 1998 QE-- er, theat 2 mi rock headed for earth, that it's got a lot of sooty, ink on the surface. There's a sense of humor in this as it's headed right back to the source, between Bernanke's eyes.

Tue, 05/21/2013 - 12:51 | 3584458 muleskinner
muleskinner's picture

Starship Money Printer has gone from ludicrous speed to plaid.

Tue, 05/21/2013 - 12:52 | 3584459 kralizec
kralizec's picture


Tue, 05/21/2013 - 12:58 | 3584470 Yen Cross
Yen Cross's picture

     What happens when rates go up and the Fed. has to start paying the Europeans interest on excess $ reserves they're holding? The thought of that makes me want to puke.

Tue, 05/21/2013 - 13:07 | 3584498 NEOSERF
NEOSERF's picture

To steal a phrase from that great economist Dan Ackroyd - "Jane, you ignorant slut.  The Fed is saving the world and if he has to bend us all over backward to save it, then pucker up sweetcheeks".

Tue, 05/21/2013 - 13:09 | 3584502 Northeaster
Northeaster's picture

This would be more helpful if the H.8 showed which banks & how much individual institutions receive to come to a clearer conclusion.

Tue, 05/21/2013 - 13:16 | 3584509 venturen
venturen's picture


Dr Evil played by Benny Bernanke

Mini Me - played by Paul Krugman

Number 2 - played by Lloyd Blankfein

Plot line....print enough money to suck up all the world deposits. Then devalue and let Wall Street buy up the entire world. 



Tue, 05/21/2013 - 13:15 | 3584514 Herdee
Herdee's picture

And the free trade agreement the U.S. is negotiating right now with Europe and keeping the talks secret of course is surely tied into all this financial corruption of endless money printing backed by assets that aren't worth dog shite.Just wait,you'll see more rules being shoved down your throat from a bureauocracy overseas.Oh ya,more really great government regulations for everyone.One big cesspool of governments feeding on another.

Tue, 05/21/2013 - 13:16 | 3584525 ThisTimeIsDifferent
ThisTimeIsDifferent's picture

When will you American morons start to understand, that these banks are not "foreign" but part of your own empire?

Let them go under, let the Club Med creditors have the haircuts they deserve ...

-- next thing your top 300 US money bags will lose their policy leverage over Europe

-- an unfettered Germany and its allies will compete head-on with your competent bureaucrats

-- 60+ years of containment from Bill Donovan's ACUE (look it up) to the economic hit men of the 90s will be wiped out.

You choose, morons.


Tue, 05/21/2013 - 13:30 | 3584583 Go Tribe
Go Tribe's picture

Let me be the first to say, FUCK YOU BERNANKE!

(better late than never)

Tue, 05/21/2013 - 13:54 | 3584653 OneTinSoldier66
OneTinSoldier66's picture

Could anyone remind me again why "we" need a "World Bank" when "we" have the Federal Reserve?


Response from Banker Barron Rothschild: I could define "we" here, but then I'd have to kill you.

Tue, 05/21/2013 - 14:15 | 3584786 bobbydelgreco
bobbydelgreco's picture

ben has 1 & only 1 idea $ devaluation why is that a surprise if it makes u feel any better it fails on miss piggy's watch

Tue, 05/21/2013 - 15:51 | 3585187 Shell Game
Shell Game's picture

Journalism at its finest.  Thank you, Tylers.



Oh, and fuck you to the depths of hell, control freak banksters!

Tue, 05/21/2013 - 20:29 | 3586116 Paradigm
Paradigm's picture

Guess the Europeans can bail themselves out as the bad loans there are about a trillion

Wed, 05/22/2013 - 02:36 | 3586800 EZYJET PILOT
EZYJET PILOT's picture

So is this a case of bailing out the euro banks in order to ultimately bail out the yank banks?

Wed, 05/22/2013 - 06:45 | 3586943 TheSharpenedPen
TheSharpenedPen's picture

The almost 17 trillion in US debt (dwarfed by the 100 trillion estimated debt factoring in unfunded liabilities) is not only unpayable - it's unborrowable. How many nations on this planet, other than China, don't find themselves under crushing debt? Very few.

Of those few nations who could loan money, do you think you could squeeze out more than a few trillion in loans for the US? China has approximately one trillion in US treasuries and has been divesting - so, that begs the question - who financed the other 99 trillion dollars of US debt?

It's a fraud. No one had enough money to lend the US in the first place, so it can't possibly owe that much money. It's more than the GDP of the world for God's sake. Who loaned it - that has to be the question.

Now, unless the Rothschild family admits that it is still the richest family in the world, and that it has many more trillions than it has hitherto reported, we find ourselves in a conundrum. If we're all poor, who keeps handing out the money?

Wed, 05/22/2013 - 06:58 | 3586962 TheSharpenedPen
TheSharpenedPen's picture

Now, supposedly, the second largest foreign lender was Japan - but where did Japan get the money to throw into the giant pisshole of US debt? "Japan's gross public debt is projected to hit 230% of GDP by 2014 after years of sustained deficits." Okay, so Japan is insolvent, and could not have lent the US the money they supposedly did.

Now, Britain is supposed to be a big spender lender as well. So, did Britain or does Britain have the money to throw into the giant pisshole of US debt? No! The Mail Online writes that: "Britain's debt mountain reaches £1.39TRILLION, equivalent to 90% of the entire economy". So, Britain didn't have the money to lend either.

This is perplexing - where does all that debt come from? Surely you borrowed it from somebody, or from somewhere right? I'll just keep searching.

Wed, 05/22/2013 - 11:34 | 3588000 XitSam
XitSam's picture

This ZH post is now on

Has that happeded before? 

Wed, 05/22/2013 - 17:19 | 3589431 PolishHammer
PolishHammer's picture

Another trillion coming, no worries.

Thu, 05/23/2013 - 13:48 | 3592807 MeelionDollerBogus
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