Hi Casey!

AIG was bailed out because so many domestic banks depended on AIG making good on derivitive exposure in 2008, and a failure of AIG could have triggered colateral failure in many other banks. My guess is this funding of foreign banks is under the same pretext, ie. the cascading failures would affect US banks if no such bail out was underway overseas.

I think the entire financial network is rotten to the core and have thought so for years. I think its a matter of 'when' not 'if' we get a major collapse. But that time can probably be delayed for a little bit longer. For sure another round of money printing is coming, but they will come up with a new name for the program to imply it is not QE and that things are still just fine.

I just took delivery of more bullion today. My PF is deep in the red, but im richer in terms of real money.

cheers!

mike