one trillion is what it is going to run

[mykil]

So the bail out is to run about ONE TRILLION YA? Oh wow! People that are way in more need could really use this money at one trillion at three hundred million people in out country what would that account for? 3333 per person! Well I for one am pretty sure that there are more important things we could be doing with these funds ya. If each of these individuals went bankrupt and this had a huge affect on our economy. And these people had to give up their homes and live in a rental. You know the poor with nothing would still have nothing! The people that were not bright enough to say no to such high prices on these homes are the ones that still have there jobs. They are not going to suffer this much! But the poor are still going to be poor. I am sorry this pisses me off!!! I think the government should hire a few people to walk around and hand out checks to the homeless for ten grand before doing this bail out this is for sure!!!

[MsTerry]

I want to say something, but if you don't ignore me, you'll be in Barryble trouble


So the bail out is to run about ONE TRILLION YA? Oh wow! People that are way in more need could really use this money at one trillion at three hundred million people in out country what would that account for? 3333 per person! Well I for one am pretty sure that there are more important things we could be doing with these funds ya. If each of these individuals went bankrupt and this had a huge affect on our economy. And these people had to give up their homes and live in a rental. You know the poor with nothing would still have nothing! The people that were not bright enough to say no to such high prices on these homes are the ones that still have there jobs. They are not going to suffer this much! But the poor are still going to be poor. I am sorry this pisses me off!!! I think the government should hire a few people to walk around and hand out checks to the homeless for ten grand before doing this bail out this is for sure!!!

[Neshamah]

$700 billion is about $2,000 for every person in the United States. Why not give $2,000 to every American on the condition that they use it either to pay down debt or invest it in stocks, bonds, or CDs for one year? Not every American will invest it wisely, but it is hard to imagine a worse investment than buying bad debt from poorly managed companies which is all Henry Paulson is proposing.

I understand that Bear Stearns, AIG, et cetera were present when G-d said "Let there be light," but this is America, and new entrepreneurs can and should take the place of poorly run investment banks and insurance companies.

~ Neshamah

[d-cat]

Who Voted For The Bailout?
https://uspolitics.about.com/od/economy/l/bl_roll_call_bailout_29sep2008.htm


Senate May Try to Revive Financial-Rescue Legislation
https://www.bloomberg.com/apps/news?pid=20601087&sid=aHYICE9mPE7c
I guess they're not gonna call it "bailout" anymore :lol2:


You won't believe where that $700-billion bailout figure came from
https://latimesblogs.latimes.com/washington/2008/09/bailout-plan.html


Who Predicted U.S. Economic Collapse One Year Ago?
https://www.prisonplanet.com/who-predicted-us-economic-collapse-one-year-ago.html


While everyone was focused on the bailout, I hear they've "printed" up and loaned $940 billion to the US Treasury, and also passed the biggest defense budget ever ($1 trillion?). The collapse of the dollar is what they're after, I believe, so that they can replace it with the Amero (as well as transfer a lot of wealth from the many to the few). Look into gold & silver (physical, not paper) to protect yourself from the devaluation of the dollar (the diluting of the money supply). And get out of debt - it'll be become harder and harder to make the payments as the cost of everything soars.

https://www.youtube.com/watch?v=z6NfXk7Bvc8


.

[d-cat]

It's not just about the money. Here's what they voted for.



• The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time. That means $700 billion is only the very beginning of what will hit us.

• Financial institutions are "designated as financial agents of the Government." This is the New Deal to end all New Deals.

• Then there's this: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency." Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.

- Ron Paul


You can see who voted for it here:
https://news.aol.com/article/senate-roll-call-on-financial-bailout/197851?icid=200100397x1210509515x1200611627
https://uspolitics.about.com/od/economy/l/bl_roll_call_bailout_29sep2008.htm

[d-cat]

Senate Passes New Bailout Bill 74 - 25
https://www.dailypaul.com/node/66024

Like a dumpling, this bill is filled with pork, including: $150 billion in tax breaks for individuals and businesses, an increase in the amount of bank deposits covered by the Federal Deposit Insurance Corporation, to $250,000 from $100,000 (wish I needed that!), AND the entire package was attached to legislation requiring insurers to treat mental health conditions more like general health problems. WTF? The initial Treasury Department proposal was three pages; the latest version passed is over 450. Exponential growth, just like Government - debt, power and abuse. McBama both voted for the pork. House will vote Friday morning. All of this will be paid for by your kids and grandkids...

The Roll Call Vote is here:
https://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00213

[d-cat]

Democracy Now! news report

$700 billion is nothing
https://www.youtube.com/watch?v=zM79QpaxvOs

[d-cat]

Congress OKs historic bailout bill; Bush signs it
https://news.yahoo.com/s/ap/financial_meltdown;_ylt=Aj_nnJPg0lstHooA.bQY3JBv24cA


How they voted
https://apnews.myway.com/article/20081003/D93J6A400.html


CALIFORNIA

Democrats - Baca, Y; Becerra, N; Berman, Y; Capps, Y; Cardoza, Y; Costa, Y; Davis, Y; Eshoo, Y; Farr, Y; Filner, N; Harman, Y; Honda, Y; Lee, Y; Lofgren, Zoe, Y; Matsui, Y; McNerney, Y; Miller, George, Y; Napolitano, N; Pelosi, Y; Richardson, Y; Roybal-Allard, N; Sanchez, Linda T., N; Sanchez, Loretta, N; Schiff, Y; Sherman, N; Solis, Y; Speier, Y; Stark, N; Tauscher, Y; Thompson, Y; Waters, Y; Watson, Y; Waxman, Y; Woolsey, Y.

Republicans - Bilbray, N; Bono Mack, Y; Calvert, Y; Campbell, Y; Doolittle, N; Dreier, Y; Gallegly, N; Herger, Y; Hunter, N; Issa, N; Lewis, Y; Lungren, Daniel E., Y; McCarthy, N; McKeon, Y; Miller, Gary, Y; Nunes, N; Radanovich, Y; Rohrabacher, N; Royce, N.

--------------------

Candidates

Obama (D-IL), Yea

McCain (R-AZ), Yea

https://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00213

[d-cat]

$17,000 possible cost to every US household, according to CNET.


Bailout type Cost to taxpayers (Source: Reuters)
Financial bailout package approved this week up to or more than $700 billion
Bear Stearns financing $29 billion
Fannie Mae and Freddie Mac nationalization $200 billion
AIG loan and nationalization $85 billion
Federal Housing Administration housing rescue bill $300 billion
Mortgage community grants $4 billion
JPMorgan Chase repayments $87 billion
Loans to banks via Fed's Term Auction Facility $200 billion+
Loans from Depression-era Exchange Stabilization Fund $50 billion
Purchases of mortgage securities by Fannie Mae and Freddie Mac $144 billion
POSSIBLE TOTAL $1.8 trillion+
NUMBER OF HOUSEHOLDS PER U.S. CENSUS 105,480,101
POSSIBLE COST PER HOUSEHOLD $17,064+
https://news.cnet.com/8301-13578_3-10057618-38.html?tag=nl.e433


And this $17,000 figure doesn't count the new trillion dollar defense budget,
or Obama's plan to give $845 billion to the UN!


U.S. DEBT TOO BIG FOR NATIONAL DEBT CLOCK
https://www.breitbart.tv/?p=189803

[d-cat]

https://www.kitco.com/images/live/gold.gif

[d-cat]

Through the quarter-century in which China has been opening to world trade, Chinese leaders have deliberately held down living standards for their own people and propped them up in the United States. This is the real meaning of the vast trade surplus—$1.4 trillion and counting, going up by about $1 billion per day—that the Chinese government has mostly parked in U.S. Treasury notes...
https://www.theatlantic.com/doc/200801/fallows-chinese-dollars



China threatens 'nuclear option' of dollar sales (2007)
The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
https://www.telegraph.co.uk/finance/markets/2813630/China-threatens-'nuclear-option'-of-dollar-sales.html



China cancels visit over U.S. arms sales to Taiwan (2008)
BEIJING -- October 7, 2008 -- China has canceled a senior military visit to Washington and shelved other military and diplomatic contacts to protest an announced $6.5-billion U.S. arms sale to Taiwan, Pentagon and State Department officials said Monday...
https://www.latimes.com/news/nationworld/world/la-fg-chimil7-2008oct07,0,5379860.story


October 8, 2008
China Lashes Out At US Monetary Policy (2008)
https://economictimes.indiatimes.com/News/International_Business/China_state_paper_lashes_US_monetary_policy/articleshow/3571967.cms

[d-cat]

https://www.rense.com/1.imagesH/bail_dees.jpg

[d-cat]

yeah, great picture isn't it! :):

[d-cat]

https://www.wisebread.com/files/fruganomics/imagecache/blog_image_full/files/fruganomics/blog-images/2559276218_75c6b23c1e.jpg

McCain, Obama agree that Buffett could lead US treasury
https://blogs.reuters.com/trail08/2008/10/07/presidential-hopefuls-like-buffett-for-treasury-secretary/


Sen Feinstein received 91,000 calls regarding the bailout, of which 85,000 were against it.
https://www.youtube.com/watch?v=sZFwRAfkV1g

but she still voted for it.
That's life under a representative government I guess :dunno:

[d-cat]

Mint Widens Halt On Gold Coin Sales As Inventories Get Depleted
Citing extraordinary demand, the U.S. has broadened its freeze on sales of gold bullion coins... "Due to the extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high," the U.S. Mint said in a memorandum released to its authorized purchasers...

https://www.marketwatch.com/news/story/mint-halts-more-bullion-coins/story.aspx?guid=%7B4D7F54D5-60D6-44B2-AFAE-B4EA5C2F65CA%7D&siteid=yahoomy

btw if you haven't noticed, the gold chart posted earlier will update every time this page refreshes :):

[d-cat]

Germans Stockpiling Gold Amid Market Panic
https://www.dw-world.de/dw/article/0%2C2144%2C3698865%2C00.html

Londoners Queue on Sidewalk to Buy Gold in Rush for Money Haven
https://www.bloomberg.com/apps/news?pid=20601102&sid=aL9NzLB3xtbs&refer=uk

gold is down against the dollar right now because everybody is selling their stocks, creating a temporary demand for the dollar...

Fearful investors dump stocks, bonds for cash
https://www.reuters.com/article/newsOne/idUSTRE49871U20081010?pageNumber=1

[d-cat]

Ron Paul on the State of the Economy
https://www.prisonplanet.com/ron-paul-on-the-state-of-the-economy.html


.

[d-cat]

https://static.guim.co.uk/sys-images/Film/Pix/pictures/2008/05/07/sanfran460.jpg
The Golden State needs $7bn in the short term just to pay wages of civil servants and maintain infrastructure



America's latest export: empty municipal coffers
James Doran reports from New York on how all 50 state treasuries are failing to raise the billions needed just to keep functioning and pay the wages.
https://www.guardian.co.uk/business/2008/oct/12/usa-government-borrowing



California Next To Go Bankrupt?
California will find out later this week if it is able to borrow several billion dollars from investors. If it is unable to do so, the state faces an uncertain future. ..
https://www.thetrumpet.com/index.php?q=5601.3919.0.0



Us Tax payers to bail out Foreign banks
WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said Sunday that foreign banks will be able to unload bad financial assets under a $700 billion U.S. proposal aimed at restoring order during a devastating financial crisis
https://www.reuters.com/article/newsOne/idUSN2148303920080921

[d-cat]

The federal reserve caused the 700 billion dollar bailout and economic crash
2 minute video
https://www.youtube.com/watch?v=KV9yDLhKbjg

Vote NO! For Those Who Voted Yes to the Bailout
Your Voters Guide for the Next Four Years
https://www.seektress.com/votegide.htm

Heroic US Congressmen Who Voted NO To 'Bailout'
https://www.seektress.com/realrep.htm