Peter Schiff – Ron Paul Financial Advisor – Get Out of The Dollar Now While You Can – Collapse Of The American Empire

Peter Schiff (Ron Paul financial advisor) points out that the government destroyed the United States Economy. Let the free market cleanse the markets. The Dollar will go into free fall. Washington Mutual Inc was closed by the US government in by far the largest failure of a US bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. ADVERTISEMENT Thursday’s seizure and sale is the latest historic step in US government attempts to clean up a banking industry littered with toxic mortgage debt. Negotiations over a $700 billion bailout of the entire financial system stalled in Washington on Thursday. Washington Mutual, the largest US savings and loan, has been one of the lenders hardest hit by the nation’s housing bust and credit crisis, and had already suffered from soaring mortgage losses. Washington Mutual was shut by the federal Office of Thrift Supervision, and the Federal Deposit Insurance Corp was named receiver. This followed $16.7 billion of deposit outflows at the Seattle-based thrift since Sept 15, the OTS said. “With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business,” the OTS said. Customers should expect business as usual on Friday, and all depositors are fully protected, the FDIC said. FDIC Chairman Sheila Bair said the bailout happened on Thursday night because of media leaks, and to calm customers. Usually, the FDIC takes control of failed institutions on Friday nights

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