Sunday, September 28, 2008

Even China knows it won't work!

http://news.xinhuanet.com/english/2008-09/28/content_10128470.htm

It can't work if you didn't do anything to fix the problem!
The banks have money "The People" don't
Civil war is approaching
There can be nothing else if this was their solution.


The U.S. dollar would face short-term fluctuations and weaken in the long run, a leading Chinese banker predicted here on Sunday.

Speaking at the Summer Davos forum in this north China port city, Bank of China Vice President Zhu Min said he believed it would be less likely for the United States to sell more treasury bonds to other countries to obtain the funds needed to bail out the turmoil-beleagued financial market, which would only accelerate inflation in other countries.

Instead, the U.S. could only issue other bonds to finance the rescue plan, which Zhu said would definitely cause the dollar depreciation in the long term. The bailout fund will have topped one trillion U.S. dollars if the U.S. Congress passes the Fed's 700 billion dollar financial rescue plan.