Comments on: Fannie, Freddie, and the Fed: Robbing Paul to Pay Peter http://michaelgracie.com/2008/07/21/fannie-freddie-and-the-fed-robbing-paul-to-pay-peter/ Clever Tagline Unavailable At Publication Time Tue, 02 Dec 2008 15:15:38 +0000 http://wordpress.org/?v=2.6 By: Michael Gracie http://michaelgracie.com/2008/07/21/fannie-freddie-and-the-fed-robbing-paul-to-pay-peter/#comment-12280 Michael Gracie Thu, 24 Jul 2008 15:51:15 +0000 http://michaelgracie.com/?p=2316#comment-12280 Yes - the bill includes an increase in the debt ceiling to $10.615 trillion - that's an $800 billion increase (or +8%). Fannie and Freddie are the last backstop - the only vehicles left for manipulation. Save the housing, kill the savers. Save the dollar, kill the housing. Damned if you do, and damned if you don't? Yes - the bill includes an increase in the debt ceiling to $10.615 trillion - that’s an $800 billion increase (or +8%).

Fannie and Freddie are the last backstop - the only vehicles left for manipulation.

Save the housing, kill the savers. Save the dollar, kill the housing.

Damned if you do, and damned if you don’t?

]]> By: Rex http://michaelgracie.com/2008/07/21/fannie-freddie-and-the-fed-robbing-paul-to-pay-peter/#comment-12278 Rex Thu, 24 Jul 2008 15:18:30 +0000 http://michaelgracie.com/?p=2316#comment-12278 Dude, The Economist hit the nail on the head. The fed is giving Fannie and Freddie access to print their own currency. Also I read that the GAO says because this is considered an "emergency", the funds to back this bill will not be required to be matched to "spending cuts" or "tax increases" which is normally required for what's known as "pay as you go" bills which this would typically fall under in any "normal" situation. Instead they will simply add any amounts utilized to the "national debt"!! They are giving Fannie and Freddie the keys to the kingdom which signals to me that this must be a HUGE F@($*&^! mess that has the white house scared to death! I'm seriously thinking of putting all of my money into gold!! Dude,

The Economist hit the nail on the head. The fed is giving Fannie and Freddie access to print their own currency. Also I read that the GAO says because this is considered an “emergency”, the funds to back this bill will not be required to be matched to “spending cuts” or “tax increases” which is normally required for what’s known as “pay as you go” bills which this would typically fall under in any “normal” situation. Instead they will simply add any amounts utilized to the “national debt”!! They are giving Fannie and Freddie the keys to the kingdom which signals to me that this must be a HUGE F@($*&^! mess that has the white house scared to death!

I’m seriously thinking of putting all of my money into gold!!

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