U.S. Government to Buy Up Banks, Nationalize the Financial System
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by Mike Adams, the Health Ranger, October 13, 2008
Key concepts: Banking crisis, Banks and Money supply
It would have been unimaginable 60 days ago, but suddenly the U.S. banking system is about to become nationalized. Forget capitalism; central planning is the new future of money in America. Or should I say the future of DEBT in America, because there's one thing we all know about governments and money: They only know how to spend it, and they really suck at saving it.
From Cnbc.com: The U.S. government plans to invest about $250 billion in possibly thousands of banks as part of a far-reaching effort to shore up the U.S. financial sector, and an announcement of the plans could come as soon as Tuesday, sources have told CNBC.... more
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