Wednesday, October 22, 2008

My first quadrillion sighting

The article with a wealth of fascinating and informative links appears on UN-Debt.net and is linked from here. The quote with the quadrillion dollars mentioned is this: ======================================

More Of The Same Old Cherished Delusions

To start with, the TV broadcasts have once again done everything they could to hide a backdoor giga-bailout orchestrated by the Fed to keep the economy lubricated: the banks have borrowed a record $437.5 billion per day from Fed, Reuters attested candidly as of October 16. Let's also mention that the Fed announced a few day before that it would to provide broad access to unlimited borrowing. So what happens when one has to borrow $100 to honor $100 loan? So, you can imagine where the irresponsible actions of the monetary elites are going to lead us, can't you? But this is nothing surprising from Helicopter Bernanke who has fervently pursued Greenspan' s task aimed at eradicating the cash-strapped middle-class in favor of foreign banks holding too many dollars, and which they were about to dump if anything was done. Ellen Brown, who monitors the situation closely, sums it up like this: FMae and FMac, along with AIG had to be bailed out to prevent the 1 quadrillion dollar derivatives from detonating - temporarily.

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Collins English Dictionary defines a quadrillion in Britain, France and Germany as being one followed by twenty-four zeroes. The US and Canadian word for this is septillion. In the US and Canada a quadrillion is one followed by fifteen zeroes (presumably the amount referred to above)..... I trust that is a comfort to we Europeans!

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