Think about that while considering this:
Wal-Mart CEO Bill Simon expects inflation
The nation’s largest retailer needs to get back to its roots as the lowest priced one-stop shop for consumers, Walmart CEO Bill SImon said.
The world’s largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors.
Still, inflation is “going to be serious,” Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY’s editorial board. “We’re seeing cost increases starting to come through at a pretty rapid rate.”
Last time I looked at the price of Green Peppers from the USA at the local WalMart Supercenter …..$2.99 PER POUND … AYFKM?
So….
Foreign Banks Tapped Fed’s Lifeline Most as Bernanke Kept Borrowers Secret
U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.
The Central Bank of Libya. THAT’S HOW IT IS.
Would we be better off with NO GOVT HERE?
Are they GOING OUT OF THEIR WAY TO BE STUPID OR IS THIS SOMETHING CORRUPT?
5 comments:
Oh, joy.
I just got back from my accountant's office. Never mind this pathetic net income after medical deductions, deductions which cut our gross income by nearly 75% and putting this household well below the poverty level.
I had self-employment income, which results in a big tax bite.
Quick, AoW call Geoff Immelt !
Never mind that the BBC speculates Libya has nearly 144 tons of gold which could in principle generate millions of dollars in revenue to pay foreign fighters.
and
Arab Banking said Dec. 2 that Libya’s stake in the Manama, Bahrain-based lender had increased to 59 percent. Arab Banking took repeated discount loans totaling more than $2 billion. Marti Adams, a spokeswoman for the Department of Treasury, declined to comment on whether any of the bank’s deposits are subject to the asset freeze.
link
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United Arab Bank Reaps 'Best Trade Finance Offering' Award
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AND THE Pièce de résistance:
Libya-owned bank borrowed from Fed in crisis AND loaned it back to the US Treasury @ higher interest rate
"...we learned that from Dec. 20, 2007 through March 11, 2010, the Federal Reserve provided over 45 emergency loans to the Arab Banking Corp. with an interest rate as low as 0.25 per cent.
"All of these loans were backed by collateral in U.S. Treasury securities purchased by the Arab Banking Corp. In other words, at the same time that the Arab Banking Corp. was borrowing money from one arm of the U.S. government at near zero interest rates, it was also lending money to the U.S. Treasury and receiving a higher interest rate.”
AAAAHHHHHH!
When I agree with Bernie Sanders, there is a giant rift in the time space continuum
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