T: Is for Treasury

The Financial elites are desperate. They are appealing the Bloomberg directive to reveal who received funding to keep from going bankrupt from the Federal Reserve.
In addition HR 1207 will pass in the House this month. The question is in what form. With an official $23.7 trillion committed by the Treasury and the Fed. This number alone shows you how serious this situation is. The banking sector is still broke and is using TARP funds to buy out failing smaller banks. The residential TARP funds returned will go toward helping bail out the collapsing commercial real estate industry. We are still facing a new wave of subprime loans written over the past year by FHA, Ginnie Mae, Fannie Mae and Freddie Mac, plus ALT-A, Option ARMS Pick-and-Pay Loans and the failure of prime loans that will stretch to 2013. On top of that we have commercial real estate loans now to deal with and credit card failure. Standing in the wings, are America’s creditors, especially the Chinese who are dumping $25 billion to $100 billion in dollar denominated assets monthly. No wonder they are terrified of an audit. I have stated more than once in this column, gold and silver related assets are the only answer. The world is about to find out that free trade and globalization has been a disaster. In America the safety net of the FDIC doesn’t exist. It is virtually broke and that is why a few months ago unofficially the FDIC asked the government for $500 billion. Putting this into perspective, about $700 billion would insure about 1% of all the qualifying deposits in the US. Not only will the Federal Reserve Transparency Act, HR-1207, pass the House, but also it will pass the Senate. Three more U.S. banks failed on Friday, bringing the total to 84. Can you say: North American Union...? I am not a conspiracist, just someone who sees the writing on the wall and this is a F.A.C.T.