Why $700 Billion?

Why that number?

Why so much?

Anybody have an idea?

Why not $200 billion?

or say only $500 billion?


if they are going to save this debacle, unconstitutionally I might add, (not that that document means anything anymore) then
why not save only part? Why can't they just take a slice instead of eating the whole pie?

I'm not sure that I can answer that question, but I find it peculiar that 700B is the same amount of money they've already wasted on the Iraqi war.
Send 700B over there and now we need to account for 700B over here. Problem is that we are just printing the money out of thin air. Which tells me that between the two we have lost 1.4T dollars and to compound matters we have grossly devalued our dollar in the meanwhile. Bringing the total up even more in real cost to the taxpayer.

Get ready for $10 milk.

reply to post by abelievingskeptic


Heres another thing, the American government doesn't actually have a spare 700 Billion to hand as its already trillionsin debt! This money will have to be borrowed (+interest) from other countries or world banks. This will not solve the crisis, it simply tightens the noose around lady liberty's neck!

I just called my congressman's office in Washington DC, and they are open and taking people's opinion.
PLEASE, if you are against this bill, look up your congressman's phone number in DC. They are staffing the phones now.

reply to post by ProfEmeritus


It seems to late for that ProfEmeritus.

As to why 700billion, well it borderlines on a trillion. Maybe its an attempt to make 1trillion the norm.

My complaint is if they are going to keep inflating the dollar they have to raise minimum wage... this is just sickening ridiculous.

Perhaps you are right. However, I would find every member of Congress that voted for this travesty, and make sure that we organize to have people to vote every House member out, that voted for this bill.
Please, folks, after the sham vote, find out how your Representative voted, and if they voted for it, VOTE them out.

I'm sure when it's all said and done the amount will be much greater than 700 billion. Plus, this sets precedent for future bailouts.

This seems to be the beginning of the end for this country unless we do something QUICK!

Recently they mentioned that the $700 has been reduced to $250 billion immediately, $250 billion later (subject to a vote). I believe Fox News also mentioned that the number is arbitrary, no explanation given for it.

Given how everything else ends up costing way more than they say at the start, I personally wonder how much the real amount actually is.

And what about the trillions of dollars missing from the pentagon? Where is that money going?

And is the VP really buying land in the middle east?

[edit on 29-9-2008 by badmedia]

Why 700 Billion? Because 700 Gigabillion would sound bad.

Originally posted by icecap
This seems to be the beginning of the end for this country unless we do something QUICK!

NO it's the end of the Rothschild / Rockefeller fiat money bank. But don't worry about them, cause thier gonna sell our own gold, which they stole, back to us for a monumental profit. They have already set up thier next symbiont (China / India) victim to live off of, while we rebuild.

They will leave thier agents in place here, and then they will return and play the same game again.

Why $700 Billion?

Why does a hijacker / extortionist demand a certain number as a ransom?

It's probably as much as they dared ask for.


[edit on 29-9-2008 by In nothing we trust]

Originally posted by abelievingskeptic
Why that number?

I'd answer that in my own words, but sometimes our Fearless Leaders don't even leave me any material.

Forbes
In fact, some of the most basic details, including the $700 billion figure Treasury would use to buy up bad debt, are fuzzy.

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

So.....there ya go. They just wanted a big number.

Everybody should understand that the bill only says that $700,000,000,000 AT A TIME can be outstanding. Additional amounts are possible, if equivalent amounts are satisfied:

(3) If at any time after obligations of amounts(3) If at any time after obligations of amounts
23 described in paragraphs (1) and (2) have been made,
24 the President transmits to the Congress a written
25 report detailing the plan of the Secretary to exercise
51
O:\AYO\AYO08B94.xml [Discussion Draft]
1 the authority under this paragraph, unless there is
2 enacted, within 15 calendar days of such submission,
3 a joint resolution described in subsection (c), effec
4tive upon the expiration of such 15-day period, such
5 authority shall be limited to $700,000,000,000 out6
standing at any one time.

This is the equivalent of putting $100 on the craps table, and if you win, let another hundred ride again and again. As you all know, in the long run, the house always wins, and if you play long enough, YOU LOSE ALL OF YOUR MONEY.

This clause GARANTEES that the money will eventually be all lost. They will just keep on gambling with it, until it is all GONE.

Why 700 billion ?

Who knows ... maybe they knew we'd see through it if they'd used the number 6 again

I hate short posts but here is why $700Billion.

It's sounds so much better than 2-5 Trillion which is what the cost has the real potential to be. Remember it's like a credit card with a 700Billion limit. If you have a credit card with a 2,000 limit during the life of that card is $2,000 the total limit of money that is spent on it?

It's sounds so much better than 2-5 Trillion which is what the cost has the real potential to be. Remember it's like a credit card with a 700Billion limit. If you have a credit card with a 2,000 limit during the life of that card is $2,000 the total limit of money that is spent on it?

Exactly, that is precisely what I said in the post above, and that is exactly what the Bill says.

Originally posted by Jay-in-AR
I'm not sure that I can answer that question, but I find it peculiar that 700B is the same amount of money they've already wasted on the Iraqi war.
Send 700B over there and now we need to account for 700B over here. Problem is that we are just printing the money out of thin air. Which tells me that between the two we have lost 1.4T dollars and to compound matters we have grossly devalued our dollar in the meanwhile. Bringing the total up even more in real cost to the taxpayer.

Get ready for $10 milk.

And when you add the further $630 billion they are planning to inject, that makes it around 2 trillion..

www.abovetopsecret.com...

The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed's expansion of liquidity, the biggest since credit markets seized up last year, comes as Congress prepares to vote on a $700 billion bailout for the financial industry. The crisis is reverberating through the global economy, forcing European governments to rescue four banks over the past two days alone.

(visit the link for the full news article)



www.bloomberg.com

From www.michaelmoore.com...

The problem is, nobody truly knows what this "collapse" is all about. Even Treasury Secretary Paulson admitted he doesn't know the exact amount that is needed (he just picked the $700 billion number out of his head!). The head of the congressional budget office said he can't figure it out nor can he explain it to anyone.

You should read the whole article actually, although I don't like everything Michael Moore has to say, I think he is pretty spot on about this crisis.

Ben420:

Very true and unless Congress offsets spending to account for this 630billion to counter this recent development we are looking at a clean-cut 630billion dollar inflation in our daily lives ON TOP of what we've already outlined.

This thing is getting out of hand quick. I'm estimating a 2.3 trillion dollar loss, in real terms, NEARLY IMMEDIATELY!

Like I said, $10 milk.

[edit on 29-9-2008 by Jay-in-AR]

They need to slash their budget and stop funding the wars. This can counter their move for control. They are effectively making a "run" on our government's ballance sheets.

This is a time when band-aids will help until we can prosecute these criminals.