Filed under: Big Banks, Britain, central bank, Credit Crisis, DEBT, Economic Collapse, economic depression, Economy, Europe, Federal Reserve, food crisis, food market, food prices, food shortage, gas prices, george soros, Germany, Great Depression, Greenback, housing market, Inflation, interest rate cuts, london, michigan, Oil, paris, Petrol, Protest, rate cut, ration, real estate, riot, Stock Market, UN, United Kingdom, US Economy
Fed Auctions Another $75 Billion to Big Banks
AP
June 3, 2008
Battling to relieve stressed credit markets, the Federal Reserve said Tuesday it has provided a total of $435 billion in short-term loans to squeezed banks since December to help them overcome credit problems.
The central bank announced the results of its most recent auction — $75 billion in short-term loans — the 11th such auction since the program started in December.
It’s part of an ongoing effort by the Fed to help ease the credit crunch, which erupted last August, intensified in December and January and took another turn for the worst in March.
The housing, credit and financial crises have weakened the economy and threaten to push it into recession.
Fuel Protests In Paris and London
CNN
June 3, 2008
Truckers and taxi drivers slowed traffic around Paris’ business district to a crawl Tuesday in a protest over rising fuel prices, and hundreds of fishermen demonstrated in London to demand government help.
Dozens of trucks and taxis in Paris drove slowly toward and around the headquarters of oil giant Total in La Defense, site of the main financial district, to protest a new tax on heavily polluting vehicles.
Authorities said the operation snarled traffic on several highways.
Farmers elsewhere in France blocked ports and oil terminals as part of protests started by fishermen last month demanding government aid to help compensate for high fuel costs.
Fishermen from around the United Kingdom demonstrated in central London on Tuesday to demand their government’s help in coping with soaring fuel prices.
Hundreds of fishermen gathered outside the London headquarters of the department responsible for food, seeking financial support for an industry they say is especially vulnerable to rising fuel costs.
Barrie Deas, chief executive of the National Federation of Fishermen’s Organizations, said the cost of fuel for fishing boats was making it impossible for many in the industry to keep going.
“Boats are going out to sea and fish for five days in terrible conditions and we’re not getting enough to even pay our crews,” he said.
Recent News:
http://depression2.tv/d2/node/118
Rationing at UK supermarkets as world prices soar 70 per cent
http://www.dailymail.co.uk/ne..world-prices-soar-70-cent.html
$75 Credit Card Limit At Pumps Causes Anger
http://www.usatoday.com/money/i..dollar-limit_N.htm?loc=interstitialskip
UN To Meet On Food Price Crisis
http://news.yahoo.com/s/afp/20080..O9baHV0rJPOROrgF
George Soros: ’We face the most serious recession of our lifetime’
http://www.telegraph.co.uk/money/ma..=/money/2008/05/26/ccsoros126.xml
German shops running out of milk
http://news.bbc.co.uk/1/hi/world/europe/7435613.stm
http://www.telegraph.co.uk/news/..S-agents-try-to-beat-property-slump.html
U.S. Bank Failures Loom
http://www.dailytimes.com.pk/default..05..8story_28-5-2008_pg5_26
U.S. Has $99.2 Trillion In Unfunded Liabilities
http://www.roguegovernment.com/news.php?id=9581
U.S. Record $4 Gasoline Remains a Bargain in Europe
http://www.bloomberg.com/apps/news?..ive&sid=aB9b2rPXKVBY
US attacked at food summit over biofuels
Oil will fall to $60 a barrel, says BDT manager
US home prices drop at sharpest rate in 20 years in 1st quarter
Greenspan says recession still likely in U.S.: report
Big Banks Use Astrology To Play Markets
Weimar Inflation In America
Blair Used Taxes To Build Real Estate Empire
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