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Old 09-07-2008, 03:11 PM
 
Location: England/Wales
3,531 posts, read 2,253,025 times
Reputation: 1354

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Fanny Mae and Freddie Mac are now NATIONALISED ,,in all but name..But let`s face it they were brought into being to be just that anyways.....

Welcome aboard!!
BBC NEWS | Business | US takes over key mortgage firms

Looks like it`s Dubya`s parting gift...

Last edited by LINCOLNSHIRE; 09-07-2008 at 03:19 PM..
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Old 09-07-2008, 03:36 PM
 
Location: Raleigh, NC
9,043 posts, read 11,957,259 times
Reputation: 1394
Quote:
Originally Posted by LINCOLNSHIRE View Post
Fanny Mae and Freddie Mac are now NATIONALISED ,,in all but name..But let`s face it they were brought into being to be just that anyways.....

Welcome aboard!!
BBC NEWS | Business | US takes over key mortgage firms

Looks like it`s Dubya`s parting gift...
Yay! Our mortgage markets are officially the most socialist in the developed world!
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Old 09-07-2008, 04:25 PM
bjh
 
Location: Memphis - home of the king
36,642 posts, read 25,267,976 times
Reputation: 126261
I think they have always been entwined with the federal govt.
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Old 09-07-2008, 04:35 PM
 
3,101 posts, read 4,034,879 times
Reputation: 4043
Quote:
Originally Posted by LINCOLNSHIRE View Post
Fanny Mae and Freddie Mac are now NATIONALISED ,,in all but name..But let`s face it they were brought into being to be just that anyways.....

Welcome aboard!!
BBC NEWS | Business | US takes over key mortgage firms

Looks like it`s Dubya`s parting gift...

Sad to say, but weither it's the corporatism of the Republicans, Tories, etc or the welfare state policies of Labor, Democrats, socialists, there is very little true libertarian thought left in the West.
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Old 09-07-2008, 05:07 PM
 
52 posts, read 148,670 times
Reputation: 15
Bye-bye US dollar.

I strongly advise anyone to buy some gold. It's very easy to peacefully opt out of the inflation tax, which is going to utterly destroy mainstream America.

A bastion of liberty no more.
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Old 09-07-2008, 05:12 PM
 
Location: Raleigh, NC
9,043 posts, read 11,957,259 times
Reputation: 1394
Quote:
Originally Posted by AJLVT View Post
Bye-bye US dollar.

I strongly advise anyone to buy some gold. It's very easy to peacefully opt out of the inflation tax, which is going to utterly destroy mainstream America.

A bastion of liberty no more.
...and most of all do NOT surrender any if the government tries to confiscate it (again). Make sure they're not in safe deposit boxes as once the 1933 executive order was signed, all boxes were subject to inspection by federal officials.
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Old 09-07-2008, 05:26 PM
 
4,172 posts, read 6,175,078 times
Reputation: 1204
We just took a giant step backwards. We preach free markets to other countries, yet bail out failing banks, loan institutions, Chrysler, etc. I think we should let failures be failures - be it companies or individuals. This is the only way we all will learn to be fiscally responsible - at national, corporate and personal levels.
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Old 09-07-2008, 07:14 PM
 
Location: Charlotte, NC
7,041 posts, read 13,514,890 times
Reputation: 2324
Default harsh?

Quote:
Originally Posted by AJLVT View Post
Bye-bye US dollar.

I strongly advise anyone to buy some gold. It's very easy to peacefully opt out of the inflation tax, which is going to utterly destroy mainstream America.

A bastion of liberty no more.
Well, I think that is a bit harsh....

Fannie/Freddie were always gov't backed; now, they are just going to be RUN by the gov't...more than a little scary given their fiscal records....

Don't understand why Americans will read this info and shrug, not caring and when the topic of universal health care (sorely needed) comes up, the people start to scream "Socialists"!!
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Old 09-07-2008, 07:14 PM
 
Location: Thumb of Michigan
4,489 posts, read 6,954,464 times
Reputation: 2534
Quote:
Originally Posted by ViewFromThePeak View Post
...and most of all do NOT surrender any if the government tries to confiscate it (again). Make sure they're not in safe deposit boxes as once the 1933 executive order was signed, all boxes were subject to inspection by federal officials.
That reminds me of the gold-fever pitch on prices just recently.

The "time to trade in your gold"....

Strip the masses of gold for worthless paper currency.
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Old 09-07-2008, 07:50 PM
 
52 posts, read 148,670 times
Reputation: 15
Quote:
Originally Posted by chicagocubs View Post
Well, I think that is a bit harsh....

Fannie/Freddie were always gov't backed; now, they are just going to be RUN by the gov't...more than a little scary given their fiscal records....

Don't understand why Americans will read this info and shrug, not caring and when the topic of universal health care (sorely needed) comes up, the people start to scream "Socialists"!!
Ya, it's hypocrisy. Many people will pretend to oppose socialism, until it's socializing losses for people they like or whatnot (showing that they don't actually oppose the principle).

Fannie and Freddie's losses will probably cost over a trillion dollars. Don't believe the mainstream reports that estimate $25 billion. I think the reality of what they're doing to us is what's harsh, hehe.
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