http://www.zerohedge.com/article/qe-2-european-bank-bailout-vehicle-story-picks-traction "To make the contrast even more clear, note that while Large domestically-chartered banks have cash assets of some $509 billion v non-cash ones of $6.840 billion (a ratio of around 8%), and small domestics hold $293 billion in cash against $3,595 billion in no-cash (a similar ratio of approx 9%), foreign banks have the startling sum of $940 billion piled up against non-cash assets of $998 billion for a ratio of an incredible 94%. Put another way, despite the fact that all domesticsâ combined non-cash assets amount to getting on for ten times those of foreign banks ($9,633 billion v $998 billion), they actually hold 15% LESS cash ($803 billion v $940)."
please explain further . it seems that european banks are much more cash rich than US banks. is this not better?
Certainly would explain why all of a sudden the Budesbank is singing a different tune and saying that their banks are well capitalized to avoid and significant event.
Maybe QE3 will be when the Fed gives all underwater mortgage holders a bailout - that would make the economy better, since "The consumer is key to the recovery."
Follow the money, starting with AIG and that will answer the questions. QE2 was more than just a "WORLD BAILOUT", it was a move for a ONE WORLD CENTRAL BANK that Hillary spoke about a week ago.