Dollar Collapse – Peter Schiff – Freddie And Fannie Socialist Bailout = Hyperinflation

Peter Schiff explains Federal Government bailout takeover of Freddie Mac and Fannie Mae. Americans are now cosigning every mortgage in a so called Capitalist country. Capitalism for the middle class and poor Americans. Socialism for the super rich. George Orwell 1984. US authorities engineered an $85 billion rescue of insurance giant American International Group Inc (AIG.N), staving off bankruptcy and bringing a measure of calm to shell-shocked global markets. The bailout, made amid a cataclysmic week for the financial sector, marks a reversal of Washington’s vow not to step in and calls for the US Federal Reserve to lend up to $85 billion to AIG for two years in exchange for a 79.9 percent equity stake. It came just two days after US authorities refused to rescue investment bank Lehman Brothers Holdings Inc (LEH.N) (LEH.P), forcing it into bankruptcy court despite pleas from Wall Street’s chiefs. AIG’s lifeline bought time for investors to digest an unprecedented run of events that has altered the shape of Wall Street, but did little ease a funding squeeze caused by the turmoil.

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