Even foreign banking interests, with U.S. subsidiaries, enjoyed massive liquidity infusions to help them deal with their faltering financial conditions and debt burdens during the great financial crisis 2007-2010.
Excerpts from: Bloomberg Nov 28, 2011:
“Deutsche Bank AG, Germany’s biggest bank, navigated the financial crisis without capital injections from the German government. The Frankfurt-based bank, which in 2008 reported its first annual loss since World War II, wasn’t so shy about getting liquidity in secret from the U.S. Federal Reserve. The lender tapped the Fed for $66 billion on Nov. 6, 2008 — $28.2 billion from the Term Securities Lending Facility, $21.8 billion from single-tranche open market operations and $16 billion from the Term Auction Facility. John Gallagher, a Deutsche Bank spokesman, declined to say whether the bank took emergency loans during the crisis from other central banks, such as Germany’s Bundesbank.”
Peak amount of debt held on 11-6-2008: $66B
U.S. citizens deserve nothing less than to be granted the same access to liquidity (their own money) that was provided to Wall Street’s financial sector – including foreign banks, like Deutsche Bank, during the financial crisis.
Deutsche Bank tapped into tens of billions of dollars from the Term Securities Lending Facility (TSLF), single-tranche open market operations (STOMO), and theTerm Auction Facility (TAF).
It is now time for the U.S. Federal Reserve to create one additional lending facility, a Citizens Credit Facility (CCF), to provide direct access to liquidity for U.S. citizens – to successfully manage their own financial challenges and reduce debt at the family level.
The Leviticus 25 Plan 2018 – $75,000 per U.S. citizen