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Is the Fed Preparing to Asset-Strip Local Governments?
Thursday, September 11, 2014 12:14
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By Ellen Brown, Web of Debt
The Federal Reserve just eliminated municipal bonds from its list of high-quality liquid collateral assets. Banks are liable to start dumping them in favor of Treasuries and corporate bonds. The cost of credit will increase for municipal governments and decrease for corporate and financial institutions, and power and financial resources will be further shifted from the public sector to the private sector.
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Source: http://www.truthdig.com/report/item/is_the_fed_preparing_to_asset-strip_local_government_20140911/
