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$700 Billion May Not Be Enough: Dr Doom

$700 billion may not be enough to bail out Wall Street says one analyst, given the lack of transparency and the length and breadth of financial markets involved.

Marc Faber, editor & publisher of 'The Gloom, Boom & Doom Report', told CNBC's Asia Squawk Box on Friday, he doubts that $700 billion would make any difference when you consider the size of U.S. credit markets.


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Wow, this was

awesome. thanks for posting.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."

The original Bailout proposal

came right out and stated that the $700B was just the beginning, and they needed to be able to infuse an unlimited amount into the markets, in "chunks" of $700B each.
Without oversight, without review, and without recourse for anybody from the courts.

Sky is the limit for this, and could reach over $70 Trillion by the time they are done, and perhaps more, because of derivatives.

The Bank of International Settlements

last report was over $1.1 QUADRILLION in derivatives contracts.

Yes, I know

I was using the most conservatively small figure that's been discussed, since I felt that was severe enough to get the point across.

But yes, you are absolutely right, and I'm pretty sure that if they will admit to $1.1 Quadrillion publicly, there's probably even alot more than that which they are not admitting.