An American Auto Bailout - For France?

By Jonathan Karl | ABC News –

Attention U.S. taxpayers: You now own a piece of a French car company that is drowning in red ink.

That's right. In a move little noticed outside of the business pages, General Motors last week bought more than $400 million in shares of PSA Peugeot Citroen - a 7 percent stake in the company.

Because U.S. taxpayers still own roughly one-quarter of GM, they now own a piece of Peugeot.

Peugeot can undoubtedly use the cash. Last year, Peugeot's auto making division lost $123 million. And on March 1 - just a day after the deal with GM was announced - Moody's downgraded Peugeot's credit rating to junk status with a negative outlook, citing "severe deterioration" of its finances.

In other words, General Motors essentially just dumped more than $400 million of taxpayer assets on junk bonds.

http://news.yahoo.com/american-auto-bailout-france-100824412--abc-news.html

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Comment by Amaterasu Solar on March 10, 2012 at 6:19am: PS: Yes, it is indeed the LOVE of money which is the root of all evil. Take it away and evil has no soil in which to grow.

Comment by Amaterasu Solar on March 10, 2012 at 6:16am: suzie, there is only a need for currency in an energy-scarce society. Money merely represents meaningful energy expended. Adding abundant energy will make money unneeded as the cost of energy is removed all down the production line. The first miners got the ore for free, the first fisherpersons got the fish for free, the first hunters, gatherers, farmers all got the stuff They used and produced for free. It was the meaningful energy expended that gave the resultant stuff "value." The ores, the fish, the nuts and berries, the produce, the transportation of these goods - the meaningful energy They expended was what "cost."

Add abundant free energy and the cost of things drops to zero. The currency becomes a social currency: People who contribute to the betterment of society will "earn" in these ways: status, appreciation, lauds, name recognition, Self-satisfaction. In allowing Humans to follow Their bliss with only three Laws - the ancient and "God given" Laws - We can build a society as free as is possible for All.

Three Laws

Do not willfully hurt or kill another Being

Do not willfully take or damage another Being's property

Do not willfully defraud another Being

Beyond these, One may do as One wishes - material things are free for the asking. "Greed" becomes meaningless. War has no profit. "If You want peace, take the profit out of war." Why do You think the power elite have hidden and suppressed overunity ("free energy") wherever it has cropped up? THEY know it spells the end of Their power over Others.

You may want to read My blog, and especially the one entitled "Money is not Needed in Energy Abundance."

http://12160.info/profiles/blog/list?user=140qdp6r9v238

Comment by suzie on March 9, 2012 at 6:43pm: There will always be some form of currency.. It is the "love" OF money that is the root of all evil!

Comment by Amaterasu Solar on March 9, 2012 at 6:22pm: We NEED to get rid of the need for money! This has le parfum of eau'd rancid, rotting fish all over it.

http://www.change.org/petitions/us-military-release-the-technology-...

Comment by apeman2502 on March 9, 2012 at 5:10pm: You can rest assured that repayment will be in the same defaulted loan swaps that Wall Street sold Europe on.The same exact pieces of paper. We need some law, back dated 25 years.

Comment by apeman2502 on March 9, 2012 at 5:07pm: Bernanke just signed over $400 million of American labor's illegally extorted tribute to the Federal reserve to the Peugeot autoworks in France. He never asked for a mechanic's advice on this, did he?

I can give Bernanke a great deal on snipe futures and board stretchers. My research lab is almost there with our muffler bearing technology, if we could just get around how we are going to produce enough dry ice to fill the designated spaces set up at the North and South poles to stop global warming. The dry ice idea is one of the Rothschild's. Credit where credit is due. Citroen had their chance.

Comment by Cryptocurrency on March 9, 2012 at 1:53pm: Wow there is so much happening in 2012! In case any one reading this blog missed the latest, the Obama Admin Cites 'Int'l Permission,' Not Congress, As 'Legal Basis' For Action In Syria:

http://12160.info/video/obama-admin-cites-int-l-permission-not-cong...

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