So this is what they wanted to prevent? oil, gas down, dollar, gold up not so bad after all.

The US government does not have any of this money that will be used for this bailout, the previous bailouts or the next bailouts. The money will come from printing it, out of thin air, because taxing nor borrowing it is not an option at this time.

The creation of all the new money will dilute our current pool of money, which means lower valued dollars, which means inflation.

Basically, they are destroying the dollar.

We will not feel the impact of all these bailouts and financial irresponsibility immediately, but it will probably be soon (I'm guessing within 6 months).

When they destroy the dollar it will cause havoc around the world because the dollar is the world's reserve currency. Nearly every country holds dollars because dollars are necessary for purchasing oil, although that has been changing. Many other currencies are also pegged to the dollar as well, so when we destroy our dollar we are also destroying theirs. That's why many countries, especially in the middle east, have been considering to get off the dollar peg. Every time a country gets off the dollar peg that gives us fewer dollars overseas in which to export our inflation.

Probably the biggest fear is that China and Japan will dump the dollar. If they do that we can pretty much expect immediate worldwide financial crisis.

Ultimately, what it comes down to is that the value of the dollar is way more important than some wall street bankers.

I have, and it is a serious P.O.S.

The Fed can already pump more money into the credit system -- this bill was *NOT* about liquidity... it was about authorization of more power to the U.S. Treasury to manipulate and control the market even further than it already can.