Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

Skip to comments.

"A $550 BILLION ELECTRONIC RUN ON THE BANKS" (This Economic Meltdown Was Engineered, Folks!]
AtlasShrugs ^

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Electronic Run On Banks - $550 Billion Withdrawn In 1 Hour, Federal Reserve Halts Withdrawals - US Economy Would Have Collapsed Capitalism Gone Wild hat tip Cathy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 $5.5 Trillion would have been withdrawn and the entire economy of the United States would have collapsed, and within 24 hours the world economy would have collapsed.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.

Why?

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.


TOPICS:
KEYWORDS: 091508; 111th; bho2009; democratcongress; democrats; economy; econoterrorism; financialcrisis; financialterrorism; fundedbysoros; moveon; obama; octobersurprise; runontthebanks; septembersurprise; sorocrats; soros; tm
Navigation: use the links below to view more comments.
first 1-2021-4041-6061-80 ... 141-148 next last
Chicago-style corruption goes Global. Look what the likes of Soros hath wrought on civilization. We're being played like a collective fiddle with no recourse. Liberalism will be the end of all things good--and sooner than we think.
1 posted on 02/11/2009 10:55:18 AM PST by TruthHound
[ Post Reply | Private Reply | View Replies]

To: TruthHound

link?


2 posted on 02/11/2009 10:56:38 AM PST by sam_paine (X .................................)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sam_paine

http://atlasshrugs2000.typepad.com/atlas_shrugs/


3 posted on 02/11/2009 10:57:21 AM PST by TruthHound (A Republican who acts conservative will whip the snot out of Democrat who acts liberal EVERY TIME!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: TruthHound

There can’t be many people who have the ability to do this. They must KNOW who did it also. There are accounts, accountability.


4 posted on 02/11/2009 10:57:32 AM PST by chuck_the_tv_out
[ Post Reply | Private Reply | To 1 | View Replies]

To: TruthHound

Soros?

He’s a minnow. Welcome to the NWO.


5 posted on 02/11/2009 10:57:42 AM PST by BGHater (Tyranny is always better organised than freedom)
[ Post Reply | Private Reply | To 1 | View Replies]

To: chuck_the_tv_out

Soros...


6 posted on 02/11/2009 10:58:06 AM PST by y6162
[ Post Reply | Private Reply | To 4 | View Replies]

To: TruthHound; Owl_Eagle; Sam's Army; Darksheare; pissant; najida; r-q-tek86; blackie; ...

PING!!!!!


7 posted on 02/11/2009 10:59:11 AM PST by Jersey Republican Biker Chick (You cannot help the wage earner by pulling down the wage payer.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sam_paine

Rush had this yesterday and it’s linked on his homepage:

http://www.rushlimbaugh.com/home/today.guest.html


8 posted on 02/11/2009 10:59:15 AM PST by Oldeconomybuyer (The democRATS are near the tipping point.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: TruthHound

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


9 posted on 02/11/2009 10:59:20 AM PST by sbark
[ Post Reply | Private Reply | To 1 | View Replies]

To: TruthHound
NY Post story-"Almost Armaggedon" from last year on this very thing.

It's why Paulson acted so fast.

http://www.nypost.com/seven/09212008/business/almost_armageddon_130110.htm

10 posted on 02/11/2009 10:59:29 AM PST by what's up
[ Post Reply | Private Reply | To 1 | View Replies]

To: TruthHound
lets start the search with george soros:-()
11 posted on 02/11/2009 10:59:53 AM PST by geo40xyz (BE PREPARED: Geo The Engineer says its HUSSEIN & the MSM fault for next 4 years:-))
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jersey Republican Biker Chick

And all signs point to Soros. I said months ago he orchestrated this meltdown for the sole purpose of getting Obama elected.


12 posted on 02/11/2009 11:00:01 AM PST by rintense (Go Israel!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: TruthHound

ping for later


13 posted on 02/11/2009 11:00:03 AM PST by ColoCdn (Neco eos omnes, Deus suos agnoset)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TruthHound

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.


14 posted on 02/11/2009 11:00:05 AM PST by blueyon ( Civil rights and civility have nothing in common)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TruthHound

ping


15 posted on 02/11/2009 11:00:44 AM PST by unkus
[ Post Reply | Private Reply | To 1 | View Replies]

$550 Billion Disappeared in "Electronic Run On the Banks"-2min 20 sec into clip
16 posted on 02/11/2009 11:01:10 AM PST by BGHater (Tyranny is always better organised than freedom)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TruthHound

Can you spell G-E-O-R-G-E S-O-R-O-S?


17 posted on 02/11/2009 11:01:40 AM PST by sport
[ Post Reply | Private Reply | To 1 | View Replies]

To: chuck_the_tv_out

why no congressional hearings?


18 posted on 02/11/2009 11:03:22 AM PST by silverleaf ("Men are not angered by mere misfortune but by misfortune conceived as injury" - Screwtape)
[ Post Reply | Private Reply | To 4 | View Replies]

To: sbark

Rush talked about the BC issue before the election. It was only one segment and I think only one day.


19 posted on 02/11/2009 11:03:55 AM PST by library user (Rod Blagojevich should have been TIME MAGAZINE'S "Person of the Year.")
[ Post Reply | Private Reply | To 9 | View Replies]

To: TruthHound

‘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.


20 posted on 02/11/2009 11:04:39 AM PST by Badeye (There are no 'great moments' in Moderate Political History. Only losses.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-6061-80 ... 141-148 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Bloggers & Personal
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson