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March 6th, 2012 
FAKE NEWS for the Zionist agenda
by CapitalAccount on Mar 2, 2012
Fresh off of the ECB’s latest liquidity injection, are we still facing a eurozone banking crisis? Well let’s follow the money shall we?! Two days after 800 banks borrowed 530 billion euro from the european central bank’s 3-year LTRO…deposits at the ECB have shot up to a record 777 billion euro — more than 1 trillion dollars, as banks choose to make a negative return on their money instead of engaging in the sovereign carry trade. Is this a sign that banks could be terrified of what lurks beneath? Could the balance sheet fears of the euro areas largest banks still be haunting the zombie castle? We bring economist and MMT muscle flexer Mike Norman on the program to talk about it.
And since we are on the subject of liquidity — Brazil has fired off another round in the global currency wars in response to all that easy money. Brazil’s stepping up intervention in the market and extending a tax on foreign borrowing to fight against developed nations that print currency and call it money! Bernanke continues to defend the Fed’s policies in response to its purport objectives. Brazil’s finance minister is having non of it. He says Brazil won’t sit by while Bernanke blow bubbles so big that they cut off the oxygen to his rain forest! (those weren’t his EXACT words, but you get the idea)
And Timothy Geithner in a wall street journal op-ed today warns against financial crisis “amnesia” as he sees opposition to wall street reform. But is Geithner lucky people seem to have forgotten about his role in the chris when two years ago people were calling for his resignation? We’ll tell you what we think about his hypocrisy as well.
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