Federal Reserve and IMF are Getting Good with Handouts.

Does the ‘establishment of temporary reciprocal currency arrangements’ mean anything
to you?

Yeah, it kind of went by me in a blur the first time I read it. Basically, this has become
one of the side shows for the Federal Reserve. They cut their benchmark lending rate
yesterday by 50% and at the same time established temporary reciprocal currency
arrangements (more commonly known as swap lines) with four more global central
banks ... bringing the total number of arrangements between the FOMC and other
central banks up to 14.