a possible scenario ?!?, page-22

On the issue of QE2 having been used to bailout Greece, Portugal and Ireland through the IMF, below is information coming directly from the IMF. As you can see the USA quota in SDW is 42,122,400 with 37,149,300 having been paid by 1999.

I also do believe that the USA have made a loan of about 69 billion SDR in 2009 under the expanded New Arrangements, but had neither the time nor the patience to find out if that is correct. However the point is that between 1999 and 2011 the USA quota just went up by 5 billion and if a loan was indeed made then that must have been done in 2009.

United States: Quota 1/

(In Thousands of SDRs)

Effective Date Quota
Pre April 30, 1973 6,700,000
April 10, 1978 8,405,000
December 30, 1980 12,607,500
December 29, 1983 17,918,300
December 11, 1992 26,526,800
February 03, 1999 37,149,300
March 25, 2011 42,122,400

1/ A member must pay its quota subscription in full upon admission to the IMF. Subsequent increases in quota subscription become effective upon the member's consent and payment to the IMF of such increases.

http://www.imf.org/external/pubs/ft/spn/2009/spn0926.pdf

As to the allegation that the FED used QE2 in order to bailout the European banks I also did no have time to research, but let me tell you this:

When there is a financial crises in Europe capital tends to flee in droves to the relative safety of USA treasuries, a situation that can create great problems. For more on this you can go the IMF at http://www.imf.org/external/pubs/ft/spn/2009/spn0926.pdf

During the pick of the crises in 2008 how did the central banks respond when capital fled Europe? They respond in this way: the ECB swapped hundred of billions of euros with hundreds of billions of freshly printed dollars issued by the Fed and then proceed to lend them to the European banks. Because at that time the USA economy was not yet considered to be in a liquidity trap, Treasury sold bonds and put the proceeds with the Fed, that is, it neutralize the excess money by putting it back with the Fed.

If the need for a similar operation happens to coincide with the Fed attempts at QE2 and at a time when the economy is considered to be in a liquidity trap then both processes can be shorten and amalgamated into one. The Reserve prints and lends to the European banks who in turn buy the treasuries on behalf of their clients.

I am not a follower of the Fed's day to day transactions and therefore I cannot say for sure that that was the case, but would not be surprised if it was. As they say, with a single stone you can get two birds.