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News Link • Economy - International

US Taxpayers Could Pay For European Bailout


John W. Schoen
Saturday, September 17, 2011

US Taxpayers Could Pay For European Bailout dollars for euros

The U.S. is coming to Europe’s financial rescue.

So far, America’s role is fairly limited. But if the crisis continues to grow and the U.S. takes on a wider role, U.S. consumers and taxpayers could feel a bigger impact. The biggest exposure could come from America’s status as the single largest source of money for the International Monetary Fund.

The latest round of American financial assistance came Thursday with a promise by the Federal Reserve to swap as many dollars for euros as European bankers need. In the short run, those transactions won’t have much impact because the central banks are simply swapping currencies of equal value. If the move helps avert a wider crisis, it could help spare the global economy from another recession.


2 Comments in Response to

Comment by conan carpenter
Entered on:

Just eliminate money entirely. Can't take it away from you anymore.  Then you say, how will I pay my bills, buy groceries, etc. You should have to have money for those things to begin with. They have become essentials to existence. For any to charge money for them makes those people as evil as Islam, itself.

Comment by James Eldridge
Entered on:

I know this will not happen, but if the world needs the money that we are always hearing is in short supply, then go get it from the Rothschild's and the Rockerfeller's. They have stolen trillions in gold and those fools in Washington are not blind to that. Stop telling the public that they will have to pitch in and pay more when those two devil families are stealing the world blind.

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