Act of Desperaton - US Congress plans to save dollar and marketSubmitted by Republican Liberty on Sun, 02/17/2008 - 16:27
US Congress - two prong plan to try to save the falling dollar and markets demonstrates desperation
1. Help the dollar by allowing the IMF to sell off 100’s of tons of gold
Will the US Congress approve a sale of IMF gold to help shore up IMF finances? Gold prices now sit at all-time record highs. Whereas the International Monetary Fund (IMF) finds itself short of $400 million per year.
Can you guess what comes next? "The IMF is rich if it wants to be," says Stephen Jen at Morgan Stanley, recommending IMF gold sales just before the idea was agreed by leaders of the world's top seven economies on Feb. 9th.
IMF gold – the third largest hoard after the US and German government gold reserves – is now worth around $92 billion, reports Reuters, tripling in value since the start of th
2. Create a false demand in the market by allowing the US Government to purchase substantial positions in US Corporations to increase trade volume in stocks a/k/a Communism.
NEW YORK (Reuters) - Fear that a hobbled banking sector may set off another Great Depression could force the U.S. government and Federal Reserve to take the unprecedented step of buying a broad range of assets, including stocks, according to one of the most bearish market analysts.
That extreme scenario, which would aim to stave off deflation and stabilize the economy, is evolving as the base case for Bernard Connolly, global strategist at Banque AIG in London.
Good news is, this will give a a bit more time to get your house in order.