As the Great Recession continues around the world, the United Arab Emirates’ Ministry of Finance introduces 19,000,000,000 “dollars” worth of its currency to its commercial banks.  This is on top of the 13,600,000,000 “dollars” in the UAE Central Bank had already lent commercial banks the previous month.

[added 6/5/2021]

       While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Republican (fascist/socialist) President George W. Bush speaking to the national media regarding the “”Billionaire Bailout (and left taxpayers the) Bill,” says, “[T]he Government’s role will be limited and temporary, and they will make clear that these measures are not intended to take over the free-market, but to preserve it.”

       [added 6/5/2021] Thanks to Freedom’s Phoenix for this entry.

       Henry M. Paulson, Jr., secretary of the treasury, announces his unprecedented plan to purchase 250,000,000,000 “dollars” worth of preferred stock (having no voting rights, but paying guaranteed dividends) in some of the nation’s largest commercial banks.  Paulson also states that 25,000,000,000 “dollars” each will go into the four largest: Bank of America, JPMorgan-Chase, Citigroup, and Wells Fargo.

       NOTE: Secretly Paulson told that banks that if they did not issue the stock and accept the loans he would seize the stock anyway.

       Postscript: A year later these banks that were “too big to fail”–that took irresponsible risks–have grown even bigger, while those medium sized banks which made the right decisions were not allowed to grow, and fill the void: JPMorgan Chase, Wells Fargo and Bank of America, the three largest commercial banks in the nation held a combined 2,300,000,000,000 “dollars” in deposits, or 30% of the nation’s total, whereas those three banks three years previous combined only held 20% of the nation’s total.

       [added 6/5/2021] Thanks to Freedom’s Phoenix and Bill Holmes for contributing to this entry.