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Fed Audit's Initial Report Reveals Trillions in Secret Loans
An anonymous reader writes "The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression."
Ron Paul gets a lot of credit for doing a whole lot of nothing.
Its because he's doing exactly what most of us want him, our legislators, and government to do.
Our present paper-based system has devalued by grandfather's savings by 1/100th its previous buying power. i.e. A wool suit that cost $5 in 1920 costs $500 today.
I'd rather have the solidity of a Gold system that can not destroy people's savings via rampant running of the printing presses. Ownership of half an ounce of gold will buy 1 suit, whether its 2010 or 1910 or 1810. Gold has a fixed value. Paper does not.
My AC stalker: " I personally agree with your posts most of the time, but that won't keep me from modding you troll"