The Fed undermines foreign policy

posted by
April 5, 2011
Daily Paul
by US Rep. Ron Paul (R-TX)  
Posted in Commentary

"We were told that bailing out banks was going to stave off a massive depression. Depression for whom? We now know that the Fed's bailout had nothing to do with helping the American people, who have gotten their depression anyway with continued job losses and foreclosures. ... perhaps the most staggering revelation is that quite a bit of money went to the Arab Banking Corp., in which the Libyan Central Bank owned about a third of its stock. This occurred while Libya, a declared state sponsor of terrorism, was under strict economic sanctions!" [hat tip -- Freedom's Phoenix] (04/04/11)  

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