3/7/10 AIG And Greece

Precious Metals Market Analysis, By Michael Pennington (Copyright 2010 Pennco Coins)

The US taxpayer has had to pay over $100 billion thus far to keep AIG afloat. Wouldn’t you like to know why? Try wealth distribution – from the Middle Class – to Wall Street. AIG has paid billions of dollars to Goldman Sachs and billions more to European bankers. Now it appears that AIG has also written insurance on derivatives backing Greece’s bonds. Of course, now that Greece is broke and cannot afford to pay for its bonds, AIG will have to pony up billions more of the US taxpayer dollars to pay to the irresponsible Greek government. I have been writing about AIG for years now and how it is a front for our secret intel agencies. Huge bonuses are paid to their top executives to buy their silence. It is nothing more than an unlimited ATM for government cronies. Don’t expect it to go away anytime soon.

While we’re talking about Greece, only two things can happen – it gets bailed out, or it defaults. If it gets bailed out, other European countries will also need bailing out. More money will have to be printed and, as a result, the dollar will drop and drop fast. Commodities, like gold and silver will go through the roof. If Greece does not get bailed out, it will default and eventually the dollar will also drop. Either way, Gold and Silver will go up.

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