Thread: It's not 700 billion folks. It's 7.7 trillion.
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Old 11-27-2008, 05:51 AM  
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Originally Posted by onwebcam View Post
To get an understanding you have to educate yourself. The 700 billion is the reserves held by the Federal Reserve. They lend out 10x that amount...

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit (Yeah you read that right 7.7 trillion not 700 billion and they aren't finished yet. That's $24,000 for every man woman and child in the country. 1/2 of the entire GDP last year)

http://bloomberg.com/apps/news?pid=2...Drk&refer=home


Some learning material.

Watch this video for a brief overview.

https://youtube.com/watch?v=65Vkqcrfh9A


More in depth 45 minute video

Money As Debt

http://video.google.com/videosearch?...bt&emb=0&aq=f#

For the advanced course

The Money Masters

http://video.google.com/videosearch?...rs&emb=0&aq=f#
The 7.7 trillion is not actual cash that is being provided by the Federal Government, it is a type of insurance for that amount and if all goes well the actual cash amount will be paid back with interest over a period of time, just has been done in the past.
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