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http://www.opednews.com/articles/-Oops-We-Meant-7-TRILLIO-by-Ellen-Brown-081130-741.html

2 Citations

The $700 billion that was arm-twisted from Congress by Treasury Secretary Hank Paulson in October was evidently just the camel's nose under the tent. According to a November 24 Bloomberg report, the Paulson/Bernanke team is now prepared to pay $7.76 trillion to rescue the financial system. Prepared to pay how?, delicious.com
The Paulson/Bernanke team is now prepared to pay $7.76 trillion to rescue the financial system. Congress has not raised its debt ceiling to anywhere near that level. The door has been opened, and the Treasury Secretary and Fed Chairman feel they can now pledge whatever they want. The new sum ? $7.76 trillion ? represents $25,000 for every citizen in the country, or half the value of everything produced in the nation last year; yet it's not clear that a mere half of our net worth will rescue the financial system. One bankrupt bank after another has been bailed out with public money, in a futile effort to prevent a collapse of a massive multi-trillion dollar derivatives pyramid created by the banks. But according to the Comptroller of the Currency, U.S. commercial banks now carry over $180 trillion in derivatives on their books. The public is liable to be bankrupted before this mess is resolved., delicious.com

Yahoo! Message Boards - RAIT Financial Trust - Will we go to Plan G?

1 Citation

YouTube - Give me a break - Oil Prices

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World Inflation rate (consumer prices) - Historical Data Graphs per Year

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History of inflation | Gold News

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Historical Inflation Rates: 1914-2008, Annual and Monthly Table - US Inflation Calculator

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This Month in Business History: Saturday Night Massacre - New York Times

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