The Federal Reserve Is Bailing Out FOREIGN Banks … More Than the American People or Economy!

• The Federal Reserve Is Bailing Out FOREIGN Banks … More than the American People or Economy! 
  by WashingtonsBlog 
  Federal Reserve Policy Mainly Benefits Big Foreign Banks
  We’ve extensively documented that the Federal Reserve is intentionally locking up bank money so that it is not loaned out to Main Street. Specifically – due to Fed policy – 81.5% of all money created by quantitative easing is sitting there gathering dust in the form of “excess reserves” … instead of being loaned out to help Main Street or the American economy.
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  And we’ve extensively documented that a large percentage of the bailouts went to foreign banks (and see this and this). (A 2010 Fed audit also revealed that of the $1.25 trillion of mortgage-backed securities the central bank purchased after the housing bubble popped, some $442.7 billion –  more than 35% – were bought from foreign banks.)
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  It turns out that these themes are all connected. Specifically, most of the Fed-created money which is gathering dust is actually being held by foreign banks. The Levy Economics Institute noted in May:
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  Excess reserves are the surplus of reserves against deposits and certain other liabilities that depository institutions (loosely called “banks”) hold above the amounts that the Board requires within ranges set by federal law. The general requirement is that covered institutions maintain reserves at least equal to ten percent of liabilities payable on demand. For the first time in history, there is statistical evidence that as much as one-half or more of excess reserves are held for United States banking offices of foreign banks.
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  read more!

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