The US Treasury is boldy going where no sane person would ever want to go with this one (Some Assembly Required):
Good Question: Why is the US taxpayer subsidizing Chinese participation in PPIP ? China puts up $2 billion, Treasury matches that with $2 billion, and pretends that 2 + 2 = 24 and the Chinese get $24 billion in distressed assets that are guaranteed by the FDIC. I simply do not understand this one.
Well, me neither or maybe I do if I admit to myself that the US Treasury is doing everything to overload the US with debt. The best way to crash a government and a state is to overload it with debt and that’s exactly what happens here.
Those papers are not worth much and it is thus assured that in the end the US Taxpayer will pick up the tab for the Chinese – or whoever else buys stuff this way.
Can it get more blatant than that? It is amazing how much of this bullshit Americans are prepared to take.