http://rt.com/usa/news/fed-european-bank-central-605/ Was not sure if this political, or economics, being probably both I thought the Econ forum needed the bump. Anywho, this is very very insidious, most Americans, in today's economic climate would flat out refuse to bailout these Euro banksters as we "could not afford it!", lost in that is Goldman Sachs and the rest of the Banksters hold significant positions in these Euro Banks, meaning if they crashed, they'd lose their investments. This way, "not a taxpayers' dime was used to bailout a European Bank"! Would be on the surface, "true", where the American People are being screwed right in the wallet is what is paying for this is perceived value in the US Dollar, this undermines it, meaning every good imported into the US will now..be more expensive in relationship to the manufacturing countries currency vs the dollar. So basically, what your lone dollar will buy in December 2011, will be less in 2012, the value of your dollar has dropped so Goldman and Co, and the rest of that ilk, can reap profits from their European operations. These Eurobanks will borrow the funds at .5%, pay off their Deriviative obligations, and still make money buying Govt Debt that is paying them 3% interest, and Americans are losing for it. This "big interconnected global economy" stuff pretty much means "screw you, I made money for my investors!".