posted on Sep, 17 2008 @ 01:28 AM
Originally posted by hoochymama
I have seen the other threads.
My main point is that this is the first time I have seen this sort of issue termed a "Government take over". The Federal Reserve is, again, NOT A
GOVERNMENT AFFILIATED AGENCY.
are you satisified that only the Federal Reserve is involved in the $85 billion loan to AIG.
the story behind the story may be that the US Treasury is issuing the money to AIG... and using the Federal Reserve as the intermediary to funnel the
as there is some legal reason for the Treasury to be one step removed from the $85billion to AIG.
in the radio news reports, AIG is getting only $85billion in 'emergency relief' funds,
while AIG is financing the first $100billion of their debt rollover with their own internal assets.
i wonder just how fast this $85billion will be repaid...and to whom?
will it be 1 month...or longer? What interest rate for this $85billion? will it be the 2 1/4% that the Fed normally charges for overnight loans??
i sort of suspect that the whole idea of just what agency is footing the bill and all this 'obscurity' is for the reason of protecting the strength
of the Dollar ~ currently up from a low around 72 to around 80 now ~
because with the nearly 1$Trillion of bailouts and buyouts in the past 3 weeks, and with autos, air travel & other industries lining up for bailout
money... the value of the USD is in serious peril of retreating to a 65 cents on the dollar value, or worse.
the 'worse' is when the Gulf States in the middle east
and along with Russia, China, Iran....
all form a group to replace the USD (petrodollar) with a new, gold backed currency.
[edit on 17-9-2008 by St Udio]