American taxpayer just bailed out Greece

Ron Paul: Euro Bailout Will Lead To Currency Collapse

Congressman: Bernanke broke promise that U.S. taxpayer dollars would not be sent to European banks

Paul Joseph Watson
Prison Planet.com
Monday, May 10, 2010

As Europe is bailed out to the tune of nearly $1 trillion dollars, Congressman Ron Paul warns that the constant monetization of debt, allied with taxpayer-funded bailouts, will inevitably lead to runaway inflation and the collapse of paper currencies.

Under the terms of the Federal Reserve’s credit swap deal with the EU – in addition to an additional IMF bailout of which U.S. taxpayers will be picking up 20 per cent ($57 billion dollars) of the tab, Paul pointed out that not just taxpayers but “anybody that buys anything” will be funding the European bailout because of the attendant inflationary consequences.

“The prices are going up already, producer prices are going up, the cost of living will go up so everyone in American will suffer and eventually the whole world will suffer because we cannot carry the whole world with our dollar,” Paul told Fox Business, adding that eventually people will lose confidence in the dollar.

The Congressman agreed with the host that the bailouts would lead to the crash of paper currencies, noting that last week’s stock market turmoil was accompanied by gold acting as a currency rather than just reacting to the value of the dollar.

“Gold has been money for 6,000 years and it will remain that way and it will rule the roost,” said Paul, adding that the dollar was weak in comparison with the strength of gold.

“All paper currencies are under attack and this cannot be sustained,” said the Congressman.

Paul then explained how the ECB has completely reversed its promise that it wouldn’t monetize debt and how Bernanke had also gone back on his word that U.S. dollars would be use for this purpose. “When I talked to Bernanke last time in the Committee he said they had no intention of bailing out Greece but they are, through the IMF as well as opening up these swap lines to all the central banks, so it is on the shoulders on the burden of the American taxpayer and our dollar so all we’re doing is perpetuating a very very bad system and this is not a solution at all,” he said.

Paul agreed with the host that the bailout was merely a stunt to buy time while failing to address the underlying problem of European socialism and the entitlement culture, which is fast running out of money with which to keep itself ticking over.

Watch the clip below.

http://www.youtube.com/watch?v=5VYUlxyuyo0
Click to expand...

Source
 
what was promised on this is but a drop in the bucket compared to the total
that's already been thrown away around the world in different countries,
that there has been zero return on, like pakistan, iraq,...
 
I think many people don't know what they are asking for, when wanting to know the Truth.

The TRUTH of World matters, and our involvement definitely isn't for the faint of heart.

Besides my religious Faith, knowing (at least in part) the power of a 'collective',
when certain peoples are involved, gives some solace.

Hang in there, and try to be optimistic at this time.
In spite of certain people in high places, good things are about to start
being seen more.
 
What does Greece have that we want?

Couldn't we have gotten a better price than a trillion?
 
Breaking news, yer screwed!

No wait, did we just get ourselves on the hook for the whole durned Eurozone?
Will socialist wonders never cease?
 
Yeah, the eurofags are bailing out greece, we are covering the Eurofags.

Bad money over bad money over bad money. MAED Mutually-Assured-Economic-Destruction.


kommie.png
 
Just so everybody knows, the IMF doesn't give money they lend it at an interest.

If we managed to pay our bailout from 1994 sooner than we should, I don't think the greeks would have a problem.
 
Luis G said:
Just so everybody knows, the IMF doesn't give money they lend it at an interest.

If we managed to pay our bailout from 1994 sooner than we should, I don't think the greeks would have a problem.
Click to expand...

Yeah, just like the Federal Reserve.
 
American taxpayer is on the hook for all of this?

Really Louie? Really?

You think there is any similarity between el error de diciembre
and what is going on currently in the Euro zone?

Tere are ways to compare the condition of the world’s economy
and debt levels between then and now.

Good to know that the world’s largest debtor nation can still
bail out countries like Greece.

You folks only needed $50 billion.
Everything is cheaper in Mexico
 
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