Depressed Dollar Tanks IndyMac

Can Freddie Mac and Fannie Mae Be Far Behind?This week the dollars decline brought the cost of crude oil to $147 a barrel. This week saw the one of the big financial bank failures as  a run on IndyMac forced its closure, one of the largest home lenders fueling the overheated California mortgage market, went into bankruptcy. Rampant fears when the Freddie Mac and Fannie Mae will fall are bringing Wall Street to an edge. The Wall Street investors are already borrowing fiat currency at almost free rates from the government! This week saw Lehman trying to follow in the footsteps of the bankrupt Bear Sterns is battling the fall.The Indy Mac banking failure was not the first financial institution to go bust this year. It was Bear Sterns as the largest investment bank. The weeks run on the banks caused them to be closed. No longer able to pay out on deposits the bank closed its doors. They ran out of money  from bad investments, siphoning profits to collaborators and a myriad of abuses. No depositor was willing to take bogus foreclosure property in lieu of his or her deposit. The Federal government reopened the bank under a new name to pay out their losses in taxpayer dollars (how many times can they spend a taxpayer dollar?) making the dollar even less valuable as the Fed prints up money from nowhere. People who had more than the insured deposits of $100,000 were offered 50 percent compensation for their money. Be warned to get your money out now if you are over that insured deposit! The incredible repeat of history is almost 100 years later with the same banks stealing the same property over again. They are using the same garbage policy of throwing more paper currency into circulation to cover bad debts and corporate thefts over the last decade without earning it. It is not going to work.John McCain said today he would find a way to save the failing banks and mortgage bankers for the panic it would instill in the system. And panic you should. Your government has bankrupted your nation and is continuing with a policy of intervening on commercial companies whose profit mongering has raped the nation. Throwing more paper in the wind, diluting the value, does nothing but make prices go higher.I do not find it one bit amusing to see the media and government trying to portray the depression as not even a recession. One has to only look around and understand. Oil is not more expensive in the world really. It is only expensive to Americans and in dollars. If you had Euros you would see only 18 percent raise in oil prices instead of the 200 percent in the USA these last months. What I am trying to say is that oil is not much more money unless you have the dollar whose value has been devalued in the world market because it spends trillions of dollars on bull pucks more than it makes. You cannot buy much with a dollar anymore because the dollar is worthless. Rice is still there and growing more every year yet in dollars you pay more for one pound of rice than 2 years ago – a lot more. It is not the supply of rice that makes the price high for you; it is your currency deflated because the government is printing money up like it was funny money – which it is.Since we cannot direct the government to stop printing monopoly money we can only advise the readers to try and convert what you have into real deals in real property. Metals, gems, or oil fields but get your earnings and savings out of dollars and into something exchangeable. The dollar is failed and the nation is in a depression there is no two ways about it. There is also the inevitable bear market to play. If you have the temperament you can win in the down market by taking options on failures. You will cheer the demise. The rest of us must face the reality and take care of what we have.Good luck.