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.
Run On Banks IncreaseThe USA has fallen into a depression. Recent runs on the banks, failures of the investment houses, increased war spending are fueled by increased printing of unbacked currency. The USA is Living with Fiat Currency.
Run On Banks IncreaseThe USA has fallen into a depression. Recent runs on the banks, failures of the investment houses, increased war spending are fueled by increased printing of unbacked currency. The USA is Living with Fiat Currency.
