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BenzWorld Elitist
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11,490 Posts
Discussion Starter #1
...the name for latest government scheme to steal from taxpayers and then give to irresponsible lenders and borrowers, and try to save the skin of the worst culprits of all: the politicians who set the tone for the entire nation by borrowing trillions with no plan to pay it back...

"In opening up its monetary spigots on Friday, the central bank left little doubt that it wanted to increase the money for mortgage lending.

"Its first move was to offer up to $100 billion through the Term Auction Facility, a program created in December that allows any bank or savings and loan to bid for loans at what amounts to wholesale rates and allows them to pledge a wide variety of securities — including mortgage-backed securities that are not tradable at the moment — as collateral."

http://www.nytimes.com/2008/03/08/business/08econ.html
 

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17,697 Posts
This shit keeps up and I am going back to converting some of my USD to Singapore dollars..............they are only digging a wider and deeper hole without bringing a ladder with them..........
 

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BenzWorld Elitist
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11,490 Posts
Discussion Starter #3
Dude, what are you waiting for? The Singapore dollar is a vastly safer store of value than the USD and has been for some time.
 

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Banned
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17,697 Posts
Dude, what are you waiting for? The Singapore dollar is a vastly safer store of value than the USD and has been for some time.

Yeaah I know that, starting late 05/early 06 when the writing was obviously on the wall I was buying SGD, Euro, gold, silver and platinum (all metals bought in SGD as well) and at that time I pumped about 40% of my cash holdings in to that. I am talking about some part of the other 60% now, this is getting rediculous but then again I do not know. Jay says a weak USD is GOOD.......................
 
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