WASHINGTON (AP) - The Obama administration aimed squarely at the crisis clogging the nation's credit system Monday with a plan to take over up to $1 trillion in sour mortgage securities with the help of private investors. For once, Wall Street cheered. The announcement, closely stage-managed throughout the day, filled in crucial blanks in the administration's financial rescue package and formed what President Barack Obama called "one more critical element in our recovery."Meanwhile, China’s central bank has just proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund.
Well there you are. Now we know why the IMF has been amassing that 104 million ounces of gold. Something to back up their new world currency.
And damned if Obama isn't trying to destroy the dollar. We cannot possibly keep our currency viable at the rate Obama is destroying it.
Barack Hussein Obama... IMF agent provocateur.
And Congress, this despicable Congress... his willing pawns.
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