It seems the FED has now offered "unlimited dollars" to the central banks of England, Switzerland and the European Union.
The other central banks will be able to borrow "any amount they wish" in exchange for collateral. The goal is to flood the financial system with much-needed dollars.
After they borrow dollars from the Fed, the Bank of England, the European Central Bank and the Swiss National Bank will provide private financial institutions with one-week, 28-day and 84-day U.S. dollar loans in the latest attempt to unfreeze credit.
And people were talking about the demise of the dollar as the world currency and other such nonsense. The US seems to be the bedrock of the world economy yet again.
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