U.S. Financial Bailout Needs Another $1 Trillion, Says Analyst
By Mike Adams, November 20, 2008 | Key concepts: Financial bailout, Banking system and Inflation
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What will it really cost to bail out the U.S. financial system? $700 billion? Dream on, taxpayer! The real cost is heading into the multiple trillions, and today, a respected analyst said the banking system needs yet another $1 trillion in liquidity to be jump-started back to normal operating status.
The problem with all this, of course, is that the entire bailout is funded with yet more debt. There is no real money being created out of thin air; it's just fraudulent debt that will soon start draining the purchasing power of the dollars held by everyone. The financial bailout, in other words, is a massive fraud that cannot work and will not work. Its only purpose is to loot the treasury before the dollar collapses into financial oblivion.
From Reuters.com: The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said.... more
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