With the ongoing saga taking place in Europe, June is setting up to be the month for the announcement of the latest LTRO-QE-Firewall-Twist.
Considering Chairsatan Bernanke “tricked” the US Congress with a play taken straight from The Vampire Squid, I find it wise to keep an eye on the main vehicle designed to aid countries in need (or those most desiring the beautiful green Fiats), using the Federal Reserve Bank of New York’s Foreign Exchange Liquidity Swap Operations.
As reported previously, Bernanke did in fact bail out Europe and the question today is, how “will he do it this time and if he uses the FRBNY, when will it show up”? As usual, I expect CNBC will bring out Steve “I use a female gerbil therefore it’s not gay” Liesman to proclaim to the minions how great Bernanke is and just how necessary more Fiat debt is to help control the out of control debt machine that is European accounting practices.
All parties participating in the FRBNY FX Liquidity Swap Operations
The ECB only