November 19, 2008

Bailout Madness

Andrew Gause is one of America's foremost experts on the history of money as well as the American banking system. He's the editor of "The World of Money" newsletter as well as the author of two books, The Secret World of Money, and Uncle Sam Cooks the Books.

Aren't government bailouts just giving businesses the opportunity to borrow money at a good interest rate? Not exactly. The question is, where is this money coming from? Once companies and corporations see how easy it is for the government to keep printing new money, with no backing in gold or silver, what's to stop others from asking for help? At that point, who's going to stop the federal reserve from running the printing presses? Obviously, this process devalues the American dollar and eventually someone is going to have to pay the price for this kind of financial irresponsibility.

Could the U.S. government eventually become bankrupt? How can listeners protect their own finances under a questionable economy? These questions and more are answered as Vic Eliason and Andy Gause dissect the current American financial situation on this edition of Crosstalk.

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