Andy goes into detail on why in mid June 2008 no amount of Treasury intervention can truly save the day here. Why? Because the main reason we are in the trouble we’re in is because of Treasure intervention. Why would the Treasure trade 50 billion of dollars for 50 billion in Euros?

Mr. Gause predicts where housing is going and what are the next shoes to drop. He explains one of them, credit default swaps and how real money has kept up with a falling dollar.

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