10/02/2008
Little side story… yesterday, I went to go eat at a local restaurant and on our way home I noticed a coin dealer. I was like WOW, I wonder if they have some gold and silver. Last week I went to Inglewood to purchase some and they stated it was all sold out. I went in with little or no optimism, and for some miracle they said yes… I went right to the bank to pull cash. When I was at the bank, the teller needed a manager to sign off on the amount I was withdrawing. SOOOO… the manger comes and asks “how are you doing today”… my response: “I feel enlighten, what is your prediction on this $700 billion bail out and how its going to effect both of you (pointing at the TV monitor – since they had it on CNBC)”… Manager: flat out walks away. Teller: “I really haven’t kept up with it, so I do not have any particular opinion towards it” this is what I was expecting… truth is no-one really knows what is going on…
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Anyways, heres the real deal on the b&*& S*#%$ $700,000,000,000 bail out update: Congress said NAY, no the senate say YAY… here’s an interesting part to this…
“”Hundreds of billions of dollars are going to bail out FOREIGN INVESTORS. They know it, they demanded it, and the bill has been carefully written to make sure that can happen.” – Brad Sherman , D-California”
That’s right folks. You are going to have $700 billion – about 25% of the total federal budget – put on your personal credit card (via taxes forever) in order to bail out foreign investors. Non to mention the lie the government is telling you. On Monday the Federal Reserve pumped $640 billion into the system, while they where asking for congress for another $700 billion… If that doesn’t put shivers down your spin… then I don’t know what will.
Oh, and the best part of it is that the underlying assets involved do not even have to be in the United States!!!
Brad Sherman D-CA
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