Cost Of Bailout Hits $8.5 Trillion

Cost Of Bailout Hits $8.5 Trillion

www.prisonplanet.com

The total cost of funds committed to the bailout in its various guises has now hit $8.5 trillion dollars, up from $7.7 trillion in just two days after the federal government committed an additional $800 billion to two new loan programs on Tuesday.

The total amount of funds now committed equals a figure that represents 60 per cent of the U.S. gross domestic product.

Millions of Americans with savings accounts and pensions will ultimately pay the price because, as the San Francisco Chronicle admits today, “The Fed lends money from its own balance sheet or by essentially creating new money.”
Veteran investor Jim Rogers echoed the sentiment, predicting the dollar is “going to lose its status as the world’s reserve currency,” adding, “It will be devalued and it will go down a lot. These guys in Washington, they want to debase the currency

(visit the link for the full news article)


Related News Links:
disinter.wordpress.com
themessthatgreenspanmade.blogs pot.com
www.marketskeptics.com
www.individual.com

Related AboveTopSecret.com Discussion Threads:
U.S. seeks 300 billion dollars from Gulf States
Rogers says dollar to be "devalued" by commodities

This is sickening, I started a thread last night " Rogers says Dollar being "devalued, by commodities"

Here is now the fact we are 8.5 trillion in bailouts - BUT we don't have the money for the bailouts! We have to print, print, print money.

I also wrote a thread 2 days ago, about Bush going to the Middle East asking for 300 billion dollars, and asking Kuwait to forgive our debts to them.

The fact is - we have all got to wake up and protect ourselves in buying metals etc.

BTW: come this Friday - the metals market may skyrocket - due to the fact the metals market has been manipulated - and Comex has sold a ton of gold futures over the last few months, way over the gold they have on hand.
Nov. 28th, is when the first future calls come up - so those who bought futures of gold and silver may want physical possession. If that is the case then the Comex will be in BIG trouble! One anaylst has mentioned - he would not be surprised if some Comex officals are arrested for what they have done, when it all comes out. Another says - the metals market could go double in one day in prices!

Protect yourselves - I believe everything is going to start coming faster and faster, once the metals market corrects itself!

With this amount of bailout and the U.S. having to print the money for it, the real value (none) of our money will be breaking out and reality is going to hit.




www.prisonplanet.com
(visit the link for the full news article)