The U.S. government is desperately struggling to stabilize the economy and keep Central and Foreign Banks confident in order to access hundreds of billions of dollars lest global currency reserve diversification occur. The Emergency Economic Stabilization Act of 2008 (EESA) dangers are many.
Global currency reserves typically have been in U.S. dollars to lower transaction costs, but with the Euro now being used in 37% of all international transactions, Central Banks in Asia, Russia, and the Middle East are diversifying their portfolios and moving away from the unstable and vulnerable U.S. dollar seeking more attractive and secure investments to secure their national economies.
Americans should therefore buy gold, Euros, or Chinese yuan to protect their hard earned savings and investments.
The Emergency Economic Stabilization Act of 2008 (EESA) provides up to $700 billion to the Secretary of the Treasury to buy mortgages and other “toxic” assets that are clogging the balance sheets of financial institutions and making it difficult for Wall Street, working families, small businesses, and other companies to access credit.
Accessing credit is imperative to the U.S. economy which owes $10 trillion in debt to overseas Central and Foreign Banks. In order for the near bankrupt U.S. economy which is steadily sinking, foreign oil addicted, and heavily dependent upon global militarization to persuade OPEC to continue to sell oil worldwide in dollars, ongoing hundreds of billions of dollars from afar is desperately needed.
The EESA is a program committed to printing and borrowing more dollars (ironically from foreign nations abroad) to insure troubled assets related to unprecedented amounts of homeowner and real estate foreclosures. These unwanted defaulted loans, often referred to by the U.S. government as “assets” are nothing of the sort.
Hence the Troubled Asset Relief Program (TARP) is a governmental plan to remove illiquid assets (a.k.a. defaulted real estate loans) that are unwanted and weighing down our financial institutions and threatening our economy. These toxic assets will be purchased and most likely not repaid to we the American taxpayers bearing the burden.
Before the U.S. greenback has a heart attack and the dollar dies, Americans should buy gold, Euros, or Chinese yuan to protect their hard earned savings and investments.