This is from my friend Cliff Draughn. Multiple points, but I was surprised at this one: 1. The Fed, at its peak lending in December of 2008, had loaned $11.37 trillion to various banking entities. 2. The largest borrowers were non-US financial institutions. Dexia Credit and Depfa Bank are Germany’s equivalent of Fannie Mae and Freddie Mac. If you look at the “AVG” column, you will see that 74% of the average amount loaned by the Federal Reserve was to foreign entities that compete with US banking corporations. 3. Why not let Germany (Dexia and Depfa), Scotland & the UK (Royal Bank of Scotland), France (Societe Generale), and Japan (Norinchukin Bank) take care of their own banks? I didn’t see the central banks of Europe or Japan jumping up to lend our US foreign banking entities money.