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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: axial who wrote (19278)	3/29/2009 11:49:26 PM
From: GST	8 Recommendations Read Replies (1) \| Respond to of 71454

<How will that reduce debt?> It will allow us to stop dumping trillions more into the toilet paying off their bad bets -- that will be enormously helpful to the debt. If we want to spend trillions of dollars there are trillions of dollars of things we are far behind in taking care of from schools and crime to health care and infrastructure. Bailing out the derivatives market is doing nothing to help the US economy. As for the banks themselves -- the road is crystal clear -- wipe out the equity, turn the dead banks over to the FDIC, clean our the horsestalls with a pitch fork and sell the cleaned up banks back to the private sector. This wipes out the current equity holders, gets a lot of banking bums fired, wipes the bad debt slate clean and gives us a ghost of a chance of avoiding financial ruin. We have been here before -- sans the derivatives debacle -- and we know how to deal with this -- including sending hundreds of the scum of the system to jail.