Taipan Publishing editor Justice Litle says Buffett’s backing is particularly significant. It shows there are still a lot of very powerful people, not to mention sovereign wealth funds and foreign governments, willing to back Uncle Sam.

No, you didn’t read that headline wrong. According to Forbes.com, the $700 billion price tag on Hank Paulson’s bailout plan for the US financial markets wasn’t based on “any specific data point.” It just seemed like a nice big number.

Eric Fry says his investment strategy is based on a simple formula: “Sell the dollar, sell the dollar and sell the dollar.” And as the buck gets whacked, so will American stocks and bonds. On the other hand, foreign assets and commodities should soar…

It’s inflate or die for Western capitalism,” says The Sovereign Society investment director, Eric Roseman. It may take a while but, according to Eric, Hank Paulson’s attempt to rescue the financial system will send inflation soaring and the US dollar tumbling.

Just how much of your money has the government flung at Wall Street? $1,164 billion so far: $700 billion bailout package for Wall Street; $200 billion for Fannie Mae and Freddie Mac; $150 billion in “stimulus”checks; $85 billion for AIG; $29 billion for Bear Stearns.

The Unholy trinity - the Federal Reserve, SEC and Treasury - has pulled out all the stops this time. But while US stocks soar, Justice Litle says the government’s bailouts are a death blow for the dollar.

Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS), the two last major investment banks left standing after the carnage Wall Street, have ended the era of investment banking by changing their status to bank holding companies. The change means the two firms can now create commercial banks that will be able to take deposits.

Ben Bernanke and Hank Paulson are planning the biggest bailout of financial markets in history. It could cost the taxpayer somewhere in the region of $1 trillion. But the market will triumph over the interventionists, says Bill Bonner.

In light of the recent decline in stock prices, the SEC has responded by putting a 'ban' on naked short-selling stocks. The idea behind this ban is that speculative investors are driving stock prices down by continually shorting, and this is causing major panic in the markets, which in turn causes more conservative investors to flee also.

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Chris Mayer says power-grid builder ABB (NYSE:ABB) and road-building equipment maker Astec Industries (NASDAQ:ASTE) are stocks to watch…

“All this debt […] has to be paid back,” says currency expert Chris Gaffney. “And how does the government plan to do this? With cheaper dollars…”

The US dollar is struggling, and even with the recent surge against the euro remains in a trading tunnel that is destined to continue on a slide. My perspectives on how Greenspan and the housing market may take your tax dollars.

Investor’s Daily Edge editors Rick Pendergraft and Andrew Gordon, speaking with Today’s Financial News editor J. Christoph Amberger, recommend four investments to make now to leverage volatility in the crude oil and currency markets.

Have the markets already gone through their inflationary melt up phase? Are they now giving way to debt deflation, in which cash is hoarded and the price of all assets (tangible and otherwise) falls? Well…no.

So far this year, 25 airlines have collapsed. Those that have survived have taken on hefty losses. The seven biggest US carriers had combined 2Q losses of almost $6 billion.