Skip to comments."A $550 BILLION ELECTRONIC RUN ON THE BANKS" (This Economic Meltdown Was Engineered, Folks!]
Posted on 02/11/2009 10:55:18 AM PST by TruthHound
RIGHT BEFORE THE ELECTION OF PRESIDENT HUSSEIN: "A $550 BILLION ELECTRONIC RUN ON THE BANKS"
This is un-frickin-believable. The financial crisis was deliberate, planned, staged. Who made the run? "Someone threw us in the middle of the Atlantic ocean without a life raft. We are trying to determine which is the closest shore and whether there is any chance in the world to swim that far. We don't know."
Electronic Run On Banks - $550 Billion Withdrawn In 1 Hour, Federal Reserve Halts Withdrawals - US Economy Would Have Collapsed Capitalism Gone Wild hat tip Cathy
Rep. Paul Kanjorski of Pennsylvania explains what former Treasury Secretary Paulson and Fed Chairman Bernanke told congress during the September 2008 closed door session. During the first third of the video an enraged caller is ranting to Rep. Kanjorski about how wasteful the first $700 billion bailout was. The best part is 2 minutes and 15 seconds into the tape where Rep. Kanjorski reveals what Paulson and Bernanke told congress that shocked them into supporting the first $700 billion bailout.
On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically.
The Treasury tried to help, opened their window and pumped in $150 Billion but quickly realized they could not stem the tide. We were having an electronic run on the banks. So they decided to closed down the accounts.
Had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawn and the entire economy of the United States would have collapsed, and within 24 hours the world economy would have collapsed.
Kanjorski also explains why Paulson spent the bailout money differently than he originally proposed.
Some other gems from the recording:
It would have been the end of our economic and political system.
We would have had to spend 3 to 4 Trillion dollars to buy up all the toxic assets. But we didn't have that much we only had 700 Billion.
Without a banking system you don't have an economy.
We are no better off now than we were three months ago.
Someone threw us in the middle of the Atlantic ocean without a life raft. We are trying to determine which is the closest shore and whether there is any chance in the world to swim that far. We don't know.
More to think about. Somebody took a lot of money out of the banks. A lot.
So where did it go? Who to? And who got it? When? And where?
Somebody knows. Those transactions have been investigated, and somebody knows. But they ain't talking, are they?
John Jay posits - there has to be a reason why: --this hasn't been heretofore revealed --why those who received the deposits haven't been identified --why there is no explanation for their motives, and --why this has just now been revealed.
The motive part is very interesting, isn't it? Now, a person does no wrong, in and of itself, by taking his money from his accounts, perfectly legal, and absolutely unpreventable by any means other than the government shutting down or closing the market, as it did, to prevent/stop the run.
A run is a banker's term of art, and it is like a herd stampede, or panic, or a psychosis of a lot of people.
They say 4 or 5 trillion dollars could have been emptied out of the bank by the end of that business day. Presumably, it could not have gone all to one entity, else that entity just could have gone back when the markets opened, and continued to withdraw funds. So, if it were designed as action to induce a panic, it had to have been done in a way that the new would spread quickly, go "viral" as it were, to others holding funds or control over funds in similar banking institutions/markets. So, the transaction had to be public, or at least traceable, because they had to be noticeable, and they had to instill a panic so that the run would continue, and people would be noticing what was happening and would move to preserve and protect what money they could access.
So, it wasn't silent.
It wasn't stealth.
Just the opposite. It had to be noticed, to work, to induce the panic in the number of people required to induce the panic.
So, the people who do such things, who monitor who and where the orders come from, and who keep track of whose accounts the money is taken from, have to have been able to figure that out, and who was responsible.
Yet, they do not tell us.
They should be able to.
There is one more context. People where really abuzz trying to stop this latest round of Obama legislation, and considerable heat was being brought to bear on this.
Obama & his minions choose this C-span broadcast/interview, complete with screaming put-upon lady, so that Rep. Kanjorsky (Democrat, Pennsylvania) can tell us all just how close we came to financial panic and collapse, no doubt to stir us to support for Obama.
Can there be any other reason for it. Seems to me, you'd kinda want to keep a lid on it,just like everybody did.
Now, the other question that comes to my mind, is just when the Republicans went into the tank on the republic election. It is too bad we don't have the collective memory to remember just when McCain officially threw in the towel, and whether it had any connection to this. He most assuredly would have known. Palin most assuredly would not have, in all likelihood.
The Wall Street boys knew.
The regulators, the Federal Reserve knew, and nary a boo, peep or squeak out of any of 'em, until now.
A Congress that can keep a secret? Pretty unheard of in this day and age. but, up til now .... .
So, why bust the news now?
And while I do not pretend to be on the inside of any of these nefarious machinations - it can't help but raise a red that the US treasury department, one week after nationalizing the banks, is giving seminars in Islamic finance and George Soros is buying our assets from the FDIC.
And WTF did Chuck Schumer know and when did he know it? Look Who's Buying IndyMac Larry Johnson, American Thinker
The FDIC has just announced that a consortium of private equity and hedge fund firms would be buying IndyMac. IndyMac was an independent "bridge bank" spun off of Countrywide Mortgage in the late 90s. IndyMac acted as a "bridge bank" to Fannie Mae and Freddie Mac. New York Democrat Charles Shumer precipitated the fall of IndyMac in May of 2008 by releasing "inside" information that the mortgage company was in dire financial straits. This disclosure created the initial "bank run" that is credited by many economists as the initial trigger that prompted the current mortgage crisis. The FDIC took over the operations of IndyMac in late summer of 2008.
So much for history. George Soros is in on the deal to buy IndyMac from the FDIC. Soros has a long history of making loads of money by first creating a financial crisis and then stepping in to grab up the bargains. Perhaps the most famous example of this tactic is "Black Wednesday," when Soros nearly sunk the entire economy of Great Britain through currency speculation.
George Soros has helped bankroll the campaigns of the Democrats in Congress who created this mess. Now, it appears, he is cashing in on his investment.
There can’t be many people who have the ability to do this. They must KNOW who did it also. There are accounts, accountability.
He’s a minnow. Welcome to the NWO.
Rush had this yesterday and it’s linked on his homepage:
Rush wont touch the Birth Cert conspiracy......
but he has hit on this conspiracy at least a couple of time. Mon/Tues of this week, and in Jan time period.
....has also accused Chuckie Schumer of kick start on Indy Bank meltdown..and it turned into something they couldnt control
It's why Paulson acted so fast.
And all signs point to Soros. I said months ago he orchestrated this meltdown for the sole purpose of getting Obama elected.
ping for later
Don’t forget Chucky Schumers little financial leak this summer. Markets went down, democrats won, very effective market manipulation on the lefts part. Dare to scare for votes.
Can you spell G-E-O-R-G-E S-O-R-O-S?
why no congressional hearings?
Rush talked about the BC issue before the election. It was only one segment and I think only one day.
‘On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically. ‘
The other distinct possibility is that investors, having just watched John McCain 90 minutes earlier blow the election with his insane comments related to the eocnomic crisis, ran for the lifeboats quicker than the rest of us.
**(This Economic Meltdown Was Engineered, Folks!]**
Very good article. Thanks for posting. It was orchestrated to create an artificial construct, to give the propagandists a theme to amplify. It served its purpose and continues to propel an agenda.
If nothing else, we’ll be seeing Democrats and their manipulators in a perp-walk five wide and a dozen deep before the year is out. If ever history justified a public lynching, this story going viral will do the trick. The end of the DNC stranglehold on THE PEOPLE is the icing on the cake. This is WHO THEY ARE, people!
We are going to have to go to war against the libs to take back the country I am afraid.
People.....start demanding that our government tell us how this happened and who was responsible. We have the right to know. If it was Soros and the Arabs, tell us. If they don’t tell us, shut them down and do it now. I wouldn’t mind if the military went in and ran the country until we can fix what is going on. Enough is enough.
I believe everything said there.
I knew Sorryass had to have his evil fingers in this mess.
I think the Middle East was in on it too, Look at Oil Prices, they rose at the same rate at the same time, it was the Primmer, they had to force people to default in HUGE numbers, what better way than tripling the price of Gas and Oil?
The Oil Speculators who were jackin the Oil Prices were in on it too.
It was ALL a DELIBERATE Attack on the US and on the Free world. To think anything else is literally just burying one’s head in the sand.
The run was not caused by any one individual. People with bank deposits in excess of the FDIC insurance levels became concerned their deposits were at risk and began moving money out of banks. The government responded by temporarily increasing the dollar amount of deposts protected by the FDIC and moved to insure money market accounts as well.
It was announced that Andrew Cuomo (NYC AG) would be invesigating shortly after it happened.
Haven't heard anything since then.
You won’t F’ing believe this ping.
Sudden disaster ... in one hour so great a nation has fallen.
Revelation 18:4-19 (New King James Version)
4 And I heard another voice from heaven saying, Come out of her, my people, lest you share in her sins, and lest you receive of her plagues. 5 For her sins have reached[a] to heaven, and God has remembered her iniquities. 6 Render to her just as she rendered to you,[b] and repay her double according to her works; in the cup which she has mixed, mix double for her. 7 In the measure that she glorified herself and lived luxuriously, in the same measure give her torment and sorrow; for she says in her heart, I sit as queen, and am no widow, and will not see sorrow. 8 Therefore her plagues will come in one daydeath and mourning and famine. And she will be utterly burned with fire, for strong is the Lord God who judges[c] her.
The World Mourns Babylons Fall
9 The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.
11 And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: 12 merchandise of gold and silver, precious stones and pearls, fine linen and purple, silk and scarlet, every kind of citron wood, every kind of object of ivory, every kind of object of most precious wood, bronze, iron, and marble; 13 and cinnamon and incense, fragrant oil and frankincense, wine and oil, fine flour and wheat, cattle and sheep, horses and chariots, and bodies and souls of men. 14 The fruit that your soul longed for has gone from you, and all the things which are rich and splendid have gone from you,[d] and you shall find them no more at all. 15 The merchants of these things, who became rich by her, will stand at a distance for fear of her torment, weeping and wailing, 16 and saying, Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! 17 For in one hour such great riches came to nothing. Every shipmaster, all who travel by ship, sailors, and as many as trade on the sea, stood at a distance 18 and cried out when they saw the smoke of her burning, saying, What is like this great city?
19 They threw dust on their heads and cried out, weeping and wailing, and saying, Alas, alas, that great city, in which all who had ships on the sea became rich by her wealth! For in one hour she is made desolate.
Sounds like America to me. It is a strong possibility.
I wonder if somehow Madoff is involved in all of this—and what does Blago know?!?
I expected Blago to have an [air quotes]”accident” waaaaaay back but he’s still making the rounds—things that make you go “hmmmmmm”....
I've been saying the same. Soros is the man behind the throne of the Obamessiah.
And you know this how?
So, if the Bush Administration knew immediately that this was an engineered, all-out assault on the U.S. economic system, why then did they not say so at the time?
I bet you’ll find William Ayers deeply involved with Soros as well. Obama is just a puppet.
Welcome to the world of Chicago/D.C. politics.
Its called the Cloward-Piven Strategy of Orchestrated Crisis. Look it up, this is the MAIN tactic that has been used against us, and we can counter attack using the same thing.
Ping to what we discussed yesterday.
And the only place you heard about Schumer was on conservative talk radio. Neither he, Barney Frank or any of the other Democrats that engineered this crisis have been investigated or brought up on charges.
IndyMac should find a way to SUE Schumer for tortious interference with their business enterprise due to his slanderous statements. Frank should be investigated for his illegitimate propping up of two near-bankrupt entities.
I thought I was crazy last year to think that this whole economic “collapse” was too coincidental and that Zero’s stealth minions were behind it somehow. What they wanted to do was make the economy look bad enough to get Zero elected (mind you, this was only three months after the market hit 13,000 and joblessness was 4.75 percent).
The end of our economic and political system as we know it sounds like it was engineered by someone. Gee, who could that be?
FYI from September 27th —
Weekly Standard ^
Kristol: A Genuine and Immediate Crisis I’ve received phone calls in the last hour from two economists I respect, one of them Larry Lindsey, the other in a position where he’d prefer not to be named. Both have government experience, neither is alarmist by nature, and they say this: The huge European bank Fortis is apparently about to fail. The ripple effect on the American banking system could be disastrous, with bank runs, liquidity crises, and stock sell offs possible Monday. Wachovia may well fail next week. As Larry put it, this really will be 1933 soon if we don’t...
Oh dear, this article came out 10 later...
All at the same time, on the same day?
In Christ alone.
Jesus Christ is the answer.
Where's the investigations by the Democrats? How come nobody is being brought up on charges?
George Soros needs to be dealt with like the rich subversives were dealt with in the Tom Clancy thriller “Sum of All Fears”. The KGB and CIA prevented these clowns from tinkering in world affairs permanently.
Before the $ crisis and during the campaign, O made a comment when talking about how McCain was running his campaign. I think it was with respect to the ads McCain was running against him. IIRC, he was kinda mad and indignant and basically said : “He doesn’t know who he is dealing with.” It was kind of a threat and it struck me as really odd and it made me laugh at the time - Yeah Right. In retrospect, I think he was referring to this coming crisis. I think O was in the loop on this.