NPR.org, December 12, 2007 · The Federal Reserve and other central banks are collaborating to better manage the global credit crunch.

The Fed (Federal Reserve - the Central - Central Bank) announced in a statement Wednesday plans to offer $40 billion in emergency funds to banks next week through an auction process.

The temporary auction facility will make funds available to banks as well as set up lines of credit with the European Central Bank and the Swiss Central Bank that could be used for additional resources.

Under the plan commercial banks would be able to bid at auction for funds. The money would be intended to help cash-strapped banks raise money needed to keep making loans to businesses and consumers.... click Image below for full story:

"What are the banks using as payment for an auction for gaining extra credit to be handed out as if it were currency?!?!  My guess is gold or something else (not sure, they didn't cover this item in the article) -  This would be one more way for the International bankers to remove real money from our system - Remember those Silver dollars that our currency used to state it would pay to the bearer on demand for dollars backed by the National Treasury? - Yes, the Fed removed them from circulation

- this is why currency is not "backed by Silver and Gold" anymore and why you don't see that guarantee that was printed on the currency which ended in 1964 (The same year that JFK was assassinated shortly after he vowed to end the Federal Reserve system and return to the gold standard), they removed it from us and the banks are not to pay to the bearer on demand as before... this would point out the flaws of fractional reserve banking (the issuing of money created out of nothing) and the fact that the banks tend to lend out vast sums of more credit than they have in an attempt to make a generous profit.

So... who's getting all this gold and silver?  Whoever is controlling the economy... The owners of the private Federal Reserve Bank."  - CP

-- Coming soon: Blog on the history of US Currency.