Details of today’s housing bill by Dr. Ron Paul:

-         $2.5B line of credit to the Treasury (Fannie & Freddie – ‘F & F’) is now “open-ended”

o        UNLIMITED – Treasury now allowed to buy all ‘F & F’ housing securities

o        Congress no longer involved in appropriating funds (Treasury now does)

-         National Debt Ceiling Moved up $800 BILLION (buried in the bill)

-         Treasury Bills being exchanged for unwanted ‘F & F’ securities

o        This is the asset which “backs up our currency”

o        Value of these assets are depreciating

o        Treasuries have replaced gold and silver to back US Dollar

-         Solution breeds inflation

o        Places pressure on the US Dollar

-         Mortgage industry workers “will now have to be fingerprinted.”

-         All credit card transactions will now be reported to the IRS.