$7.7 Trillion and Counting

Monday, November 24, 2008 19:26
Posted in category $GOLD, $USD, Ben Bernanke, C, Citigroup, Federal Reserve, GLD, Inflation, Money, Symbol, UUP
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The U.S. government is ready to provide $7.7 trillion of American taxpayer money after guaranteeing $306 billion of Citigroup Inc. debt yesterday. These pledges amount to HALF OF US GDP and almost four times the amount the Government receives in tax revenue per year.

The US dollar sold off on the news as gold spiked on safe haven buying.

Has the dollar finally peaked?

Related posts:

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  2. Forecast 2009: There Will Be Blood
  3. US Dollar Losing Steam
  4. Citigroup to Invest $10 Billion of Taxpayer Money in Spain!
  5. Mind Boggling – The True Cost of The Bailout

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