Episode 386 • • 2:32:34 - 2:34:28
386: Balochistan Baloney
Greek Bailout, Federal Reserve Currency Swaps
The hosts discuss the Greek debt crisis, noting that Germany is sending 300 tax collectors to Greece to ensure bankers are repaid. They explain how the U.S. Federal Reserve facilitated a $2 trillion currency swap with the European Central Bank to prop up European banks. This "overnight swap" is described as a way to use American funds to bail out foreign financial institutions.