Is this really what the Fed has been doing over time, lending to other central banks of sovereign nations?
Clipped from rt.com
Federal Reserve lent to Gaddafi-owned bank
Between September and November of 2008 the Arab Banking Corp. borrowed hundreds of millions of dollars from the American central bank at outrageously low interest rates.
Overall, during the same time frame 22 foreign-based banks borrowed $56.6 billion from the Fed on at least 42 separate occasions.
These revelations have infuriated some lawmakers. Independent Senator Bernie Sanders has written Fed chairman Ben Bernanke asking why the bank lent funds, especially at such low rates and in such large amounts, to foreign firms. Sanders explained he is especially concerned by the Fed’s lending to Arab Banking Corp.
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