New Zealand Gets 9 Billion From The Fed
This is Congressman Alan Grayson questioning / grilling Federal Reserve Chairman Ben Bernanke
on $550B of loans to foreigners
(or ‘central liquidity swaps’ in Federal Reserve-ese’).[youtube]n0NYBTkE1yQ[/youtube]
Which financial institutions received this money?
Bernanke’s answer: I don’t know.
As the Fed was lending this money, the dollar increased by 30% in value.
Grayson asks, was this a coincidence? Bernanke’s answer: yes.