Monday, September 22, 2008

We must find something other than USD to preserve our hard-earned money

I want the US Treasury to include me in their bailout too. Why? Everything is falling and after paying USD700 billion to swallow the toxic debts in Wall Street, what will happen to me? Nothing! I will still be holding lots of losses in the stock and bond markets. If you lose your job in Lehman Brothers, the bailout can't restore you to the job. If you lost money by holding bonds issued by bankrupted financial firms, the bailout won't give you back your money!

What is the point of pushing a $700 billion bailout without considering the alternative of helping the poor guys on the street?

Yes, is such bailout a dire necessity? A must that if you don't get it in a week, America will disappear? Don't make me laugh to say yes.

Someone came into your house and robbed you. Instead of punishing the robber, we gave him/her a huge sum of money so that he/she could continue to gamble, to pay off his/her gambling debts, etc. Why? Because if you don't reward the robber, he/she will rob you again and rob all your neighbors too! So in your interest that we must immediately give the robber a huge reward to prevent such dire consequences!

I almost forgot: we must find something reliable to preserve our hard-earned money but certainly not the US dollar. It will become more paperlike than real papers!

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