housing crisis.jpgRon Paul is again speaking truth while the majority of Congress continues to allow massive amounts of debt to be dumped on taxpayers. Massive meaning an estimated $1 Trillion dollars, according to Senator Jim Bunning. That is nowhere near the estimated $25 Billion initially disclosed. In a recorded video, Dr. Paul discusses the ramifications of Congress passing the Housing bill. It is not only “The Mother of All Bailouts,” but yet another power grab by the government. The passage of this bill is undoubtedly bearish for the dollar and bullish for precious metals. It will serve to increase inflation and the rate at which the dollar is being devalued. In essence, our dollars are now backed by unwanted assets (Fannie and Freddie securities). At some point soon, the dumping of the dollar is going to intensify. Here are the key points, followed by Ron Paul’s 7-minute video:

– Housing Bill passes overwhelmingly 272 to 152

– $2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”

– UNLIMITED – Treasury now allowed to buy all ‘F & F’ housing securities

– Congress no longer involved in appropriating funds (Treasury now does)

– National Debt Ceiling Moved up $800 BILLION (buried in the bill)

– Treasury Bills being exchanged for unwanted ‘F & F’ securities

– This is the asset which “backs up our currency”

– Value of these assets are depreciating

– Solution breeds inflation and places pressure on the US Dollar

And the power grab includes:

– Mortgage industry workers “will now have to be fingerprinted.”

– All credit card transactions will now be reported to the IRS.