If US citizens were not entirely asleep at the wheel, there would be a massive outcry over the government’s bailout of Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE), says Russell McDougal in Investor’s Daily Edge.

The financial elite would bear the brunt of their greed, the Fed would be banished and American taxpayers wouldn’t be saddled with cleaning up the whole mess.

This isn’t going to happen. The reality is the dollar will bare the brunt of the carnage, says Russell, as the feds crank up the printing press to maximum speed - ruining the livelihoods of US citizens in the process…

What will be the repercussions if the Fed, Treasury and the NY/DC Axis of Weasels are successful in navigating these treacherous waters? They will have to print sufficient paper to buy up enough cow chips to fill up the moon. It is Swiss cheese, no? One-way tickets for elitist bankers to do the filling sounds about right.

The US dollar will inevitably take the brunt of this carnage. You may not know exactly what all that means for you personally, but you will find out soon enough. Please review my tongue in cheek article entitled “Falling Dollar? What Me Worry?”. Rising prices are just for starters.

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Advocates of sound money have long seen these problems coming. Fannie and Freddie are simply bit players in a giant melodrama. The root of the disaster is the Federal Reserve and their unconstitutional monopoly money. You need look no further.

Fiat money systems are always predators. They always fail. The deadly combination of unlimited money and prostituted politicians is a witches’ brew. The end result is inevitable.

The US is way past the point of bankruptcy by any reasonable measure of economic truths. The government simply cannot come up with the $70 trillion (or thereabouts) of funded and unfunded debts, they have obligated US citizens to pay. The entire system has been running on fumes for years.

The emperor is buck-naked and eyes are being opened. Check out a chart of the US dollar over the last ten years:

The US has long been at the mercy of foreigners. They buy the Treasuries and financial instruments required to fund our excesses and keep us temporarily afloat. They hold massive quantities of Fannie and Freddie paper. Add them to the toxic mix of sub-prime bonds, failing financial assets and a falling US dollar.

We don’t have much of a manufacturing base left, but never let it be said we can’t find something that foreigners are interested in. We have exported our debts and excesses for decades. Look for all of these US “exports” to be dumped at salvage value.

All global countries that hold US originated financial assets, especially those in the G-7, are going to take a hit from this fiasco. A depression of sorts, officially admitted or not, is the likely stateside result.

The Fed’s only solution is to attempt to print their way out of this destruction. It cannot be done without ruining the lifestyles and livelihoods of unsuspecting citizens.

Their alternatives are even worse for citizens… “distractions” and/or loss of Constitution and Bill of Rights guaranteed freedoms. Do not think for one minute that this present crew won’t turn totally fascist on you. Are you and your heritage being stolen blind?

Protection in the form of gold and silver remain on sale.

Source: Fannie & Freddie (Krueger) are Going to Slaughter the US Dollar