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7min 37 sec
Details of today’s housing bill by Dr. Ron Paul:
-$2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”
oUNLIMITED – Treasury now allowed to buy all ‘F & F’ housing securities
oCongress no longer involved in appropriating funds (Treasury now does)
-National Debt Ceiling Moved up $800 BILLION (buried in the bill)
- Treasury Bills being exchanged for unwanted ‘F & F’ securities
oThis is the asset which “backs up our currency”
oValue of these assets are depreciating
oTreasuries have replaced gold and silver to back US Dollar
-Solution breeds inflation
oPlaces pressure on the US Dollar
-Mortgage industry workers “will now have to be fingerprinted.”
-All credit card transactions will now be reported to the IRS.
Details of today’s housing bill by Dr. Ron Paul:
-$2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”
oUNLIMITED – Treasury now allowed to buy all ‘F & F’ housing securities
oCongress no longer involved in appropriating funds (Treasury now does)
-National Debt Ceiling Moved up $800 BILLION (buried in the bill)
- Treasury Bills being exchanged for unwanted ‘F & F’ securities
oThis is the asset which “backs up our currency”
oValue of these assets are depreciating
oTreasuries have replaced gold and silver to back US Dollar
-Solution breeds inflation
oPlaces pressure on the US Dollar
-Mortgage industry workers “will now have to be fingerprinted.”
-All credit card transactions will now be reported to the IRS.