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US unveils new $1.5 trillion plan

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posted on Feb, 10 2009 @ 10:49 AM

US unveils new $1.5 trillion plan

US Treasury Secretary Timothy Geithner has unveiled a comprehensive $1.5 trillion (£1.02 trillion) bank bail-out plan to beat the financial crisis
(visit the link for the full news article)

posted on Feb, 10 2009 @ 10:49 AM
Is this 1.5 trillion on top of Obama's 800 billion bailout package he had already announced? and the question has to be asked what will they do with this cash? as i believe they couldn't account for what happened to large swathes of the cash that Bush doled out just before his term as president came to a close.
(visit the link for the full news article)

posted on Feb, 10 2009 @ 10:56 AM
This has gotten beyond idiotic.

Here's a suggestion. Instead of bailing out these damned banks, why don't we use that money as a one-time bailout of the American people? Lets use that $1.5 trillion to instead cut the poorest 60 million Americans a $25,000 check with no strings attached, except that it must be spent upon food, housing or other necessities.

Of course, that's not going to happen. Instead, lets give the people's money to a bunch of damned financial industry CEO and to all of Obama's and Congress' corporate buddies that got them elected. That sounds like a winner.

posted on Feb, 10 2009 @ 10:57 AM
What happened to the Bush bailout?

What's to stop these banks from using the money on bonuses again?

posted on Feb, 10 2009 @ 11:52 AM
All of this bail out crap is just delaying the inevitable. The country is going to go bankrupt because the national debt is going to be so large, the american people are never going to be able to pay it all back. What's it at right now? Something like $10 Trillion? Where are they getting all of this money? China?

[edit on 10-2-2009 by kommunist]

[edit on 10-2-2009 by kommunist]

posted on Feb, 10 2009 @ 12:11 PM
They are almost burning through $1 trillion every few months. It's almost like watching a gambling addict trying to win back the money he lost by borrowing more money in the hope he will start winning.

posted on Feb, 10 2009 @ 12:16 PM
reply to post by kommunist

At this rate China isn't going to be able to afford to buy the debt. They are paying for a $586 billion stimulus of their own and their revenue is going to be down because of the crisis. I wouldn't be surprised if they had trouble balancing their own governments budget soon, much less buying debt so other governments can pay the bills.

[edit on 10-2-2009 by Jacob08]

posted on Feb, 10 2009 @ 12:29 PM
Man!!! They are trying their best to break the backs of the American people.

These people need to be strung up for treason plain and simple. I think the states need to succeed from the union and let these Bozo's find another sucker to pull the ponzi scheme on.

posted on Feb, 10 2009 @ 12:36 PM
i want to ask - where is this money coming from?

is the US treasury just printing it and pretending it can be earnt from somewhere? this will make the `bailout` at over $3 TRILLION by the time its all finished for this month.

posted on Feb, 10 2009 @ 12:40 PM
Somebody is going to burn in hell for this.

posted on Feb, 10 2009 @ 12:41 PM
reply to post by Harlequin

It'll be the same as it always is: a combination of borrowing and the printing of new money. The result will be higher real interest rates and higher inflation for the average consumer. Fun times.

But at least the corporate funders of Obama's campaign will be taken care of. That's what's important.

posted on Feb, 10 2009 @ 12:44 PM
This is sick! The banks are RICH!

This is a bailout of the upper top elite before the bottom totally drops out and we the American tax payers will see the inflation when we go to the store or pay our taxes.

My Prophecy of how this will affect the American tax payer in 2009:

Bread (cheap) 5.00
Eggs (Doz.) 4.50
Milk (Gal.) 5.20
Pasta (Lb.) 3.95
Beans (4Lb.) 7.35
Oranges (6) 9.00
Bananas (Lb.) 3.29
Butter (Lb.) 4.38
Peanut Butter 5.95
Cereal 7.95
Honey 12.00
sugar (4Lb) 4.24
Beef (Lb.) 16.00
Pork (Lb) 9.00
Chicken (Lb.) 8.90
Turkey Whole 36.00

I expect store shelves to become limited on the amount of products available and more south American fruits and vegetables rather than American grown. Less organic with more regulations and price hikes which will make them impossible for the average person or family.

Lets see what Wall street does today and in the coming days, are they next for a bailout?

When the insurance companies and wall street stick their hands out, we are going down.

With all of the dire weather storms of the winter, a raveging hurricane season is sure to follow... Insurance companies will be going down.

posted on Feb, 10 2009 @ 12:54 PM
reply to post by antar

Ramen Noodles anybody?

posted on Feb, 10 2009 @ 12:55 PM
Plan? What plan?

I didn't hear a plan, I heard stalling for time.

The one thing that could possibly help is totally ignored: full disclosure of the banks' books.

The reason they won't open their books is that the executives would go to jail for fraud and/or be open to civil lawsuits for fiduciary irresponsibility that would ruin their families and topple the PTB.

CALL your congresscritters every day, twice a day and demand full public disclosure of the books of every bank that takes bailout money, published online. After all, whenever you go to the bank for a loan they demand full disclosure of your finances.

[edit on 10-2-2009 by apacheman]

posted on Feb, 10 2009 @ 01:16 PM
This is what Paul Keating, a former Australian Prime Minister, was talking about and I posted in China... our new world ruler? Whoever rules the world monetary system rules the world. And... look who's gonna rule the monetary system...

Everyone but us knew this was what Obama was going to do and were even discussing it last week. Watch the video in the link... very, very accurate and very, very scary.

"The G7 is made up of debtor countries, countries like the United States, Britain, France, Italy - these are all borrowers.

"There's no surplus countries in that. If you look at the structure of the IMF the Chinese get 3.7 per cent of the vote, the Indians get 1.9."

"The Europeans and the Americans get 51 per cent and there is just now way the Chinese communist party is going to hand over control of their currency and their political fortunes to a Washington-based, US Treasury run institution."

"The top 200 financial institutions in the world have suffered an average loss of value of 74 percent. What we need is a completely new global political and economic settlement. Get rid of the old G7, get rid of the old IMF, we’ve got to bring the surplus countries into the political framework. There’s just no way the Chinese Communist Party is going to hand over control of their currency and their political fortunes to a Washington based U.S. Treasury run institution. So this is going to be a complete resettlement. We’re not going to get out of this. The United States budget cannot reflect the world. We’ve always been in a situation where the United States budget could reflect the world. This is not going to happen now. See, the budget this year was gonna be $850 billion, now President Obama’s talking about another trillion, so $1.8 trillion. They’re GDP is $13 trillion so their running a budget deficit this year of 15% of GDP and they’ll do this for three or four years 16% of American GDP. Who’s going to buy the bonds? Every serious American policy maker knows that they’re not going to be returning value, in the end they’re going to inflate their way out… the debt will be so overwhelming that it cannot be repaid.

[edit on 10/2/2009 by Iamonlyhuman]

posted on Feb, 10 2009 @ 01:17 PM
Besides that...........take a look at this!!!

Frikin Outrageous!!!!!!!!!!

People need to seriously take to the streets if this even looks to be going through!!!!

The thread is about the govt. taking pension plans now.....and GIVING THE MONEY TO THE BANKS!!!!!!!!!!!!!!

posted on Feb, 10 2009 @ 01:26 PM
Ah.. this money don't even exist.

I mean... they are just printing more paper or just adding numbers to a computer?
Either way there's no difference.

When TPTB say "we have another bail-out plan", what we should really read is "shut up.. we rule, you follow".

You know when there are two teenagers speaking in a way that their parents cannot comprehend? (using slangs, and code words, to talk about something they are not allowed to)... the same principle applies here: when the elite are talking, the words we hear have different meanings from what we THINK they have.

Peace (if possible).

posted on Feb, 10 2009 @ 01:27 PM

posted on Feb, 10 2009 @ 01:37 PM
The US can call their scams/bills/plans whatever they want and set up a 'Forever Bailout', similar to the 'Forever Stamp' by the USPS, to whatever amount the US wants to tax its American citizens.

[edit on 2009-2-10 by pikypiky]

posted on Feb, 10 2009 @ 01:40 PM
It seems like all they are doing is taking the situation from the possibility of financial collapse to the certainty of collapse. I can understand the seductive attraction of using zimbabwe style inflation to erase the debt by hyperinflation, but how do they stop it? Where will we be at the end of it?

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