Dollar Collapse – Peter Schiff – Freddie And Fannie Socialist Bailout = Hyperinflation
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Peter Schiff explains Federal Government bailout takeover of Freddie Mac and Fannie Mae. Americans are now cosigning every mortgage in a so called Capitalist country. Capitalism for the middle class and poor Americans. Socialism for the super rich. George Orwell 1984. US authorities engineered an $85 billion rescue of insurance giant American International Group Inc (AIG.N), staving off bankruptcy and bringing a measure of calm to shell-shocked global markets. The bailout, made amid a cataclysmic week for the financial sector, marks a reversal of Washington’s vow not to step in and calls for the US Federal Reserve to lend up to $85 billion to AIG for two years in exchange for a 79.9 percent equity stake. It came just two days after US authorities refused to rescue investment bank Lehman Brothers Holdings Inc (LEH.N) (LEH.P), forcing it into bankruptcy court despite pleas from Wall Street’s chiefs. aig’s lifeline bought time for investors to digest an unprecedented run of events that has altered the shape of Wall Street, but did little ease a funding squeeze caused by the turmoil.
And your credentials are?
Most economists that you read are wrong then. They cant see two feet infront of their face. The deflation we are seeing now is due to everyone selling. All this extra money being made will, down the road, cause inflation. Thats in addition to the inflation incurred by the future printing of money.
Most economic analysts I read, say that we are headed for deflation, not hyperinflation.
Lots of people think Schiff is an idiot. The only problem with that is that hes been right every fucking time. This guy should be in charge of fed and should therefore shut it the fuck down. Privatize the profits and socialize the losses……we the slaves….er i mean people
“We’ve effectively been telling people, these bonds are, pretty much, as good as government bonds.”
*barf*
That’s why Mr. Jim Rogers is shorting US Treasuries. But hey, I guess they’re not lying. Gov Bonds are junk, and Fannie bonds are junk. Okee-dokee.