Posted on 02/13/2009 5:45:51 AM PST by rightwingintelligentsia
I want you to read something. It's a snatch of transcript from a Jan. 27 C-SPAN interview with Rep. Paul Kanjorski, D-Pa., that has received zero coverage in what we think of as the mainstream media.
To set the C-SPAN scene, Kanjorski is harkening back to the middle of last September, when, as it happens, John McCain was enjoying his brief lead in the presidential polls and the economy as we knew it was imploding. Here's what Kanjorski said:
"I was there when the Secretary (of the Treasury Hank Paulson) and the Chairman of the Federal Reserve (Ben Bernanke) came those days and talked to members of Congress about what was going on. It was about Sept. 15. Here's the facts, we don't even talk about these things.
"On Thursday at about 11 o'clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of $550 billion, as being drawn out in the matter of an hour or two.
(Excerpt) Read more at townhall.com ...
Russia
China
The Middle East
The UN (IMF, World Bank, etc.)
Any or all of these nice folks would be in a position to use money as a weapon against the US. And somebody like George Soros would be happy to help out and coordinate the effort.
bump
Rule 1: Follow the money.
$5.5 trillion would have been withdrawn from U.S. money markets? That seems an impossible figure. How much, I would ask, was in the system?
George Soros.
When is anyone going to get investigate this?
I’m still not seeing this as a coordinated attack. It seems like an old-fashioned bank run, but this time an electronic run on money market accounts when one broke the buck.
9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED ECONOMIC MELTDOWN
Address:http://www.freerepublic.com/focus/f-bloggers/2184661/posts
I still remember how cool Obama was when he went to the White House with McCain. He went and worked out and just looked like, “I know exactly what is going. You guys are idiots.”
The fix was in and if you could get a hold of Obama’s BlackBerry you could probably find a lot of incriminating stuff on this one.
Look to the Middle East and China.
They would love to see our economy completely collapse. They would own us.
Cold war plot by Russia, dramatized in “The Company”, attributed 87 crash to $62 billion sudden withdrawal by baddies.
I’m not sure I buy the boogie man theory behind this post. True, a huge group of scared investors bailed out of the market in September, but I find it hard to prove that this was caused by some foreign gov’t. If there was some single gov’t behind it, there would be an audit trail as wide as the Yangtze River pointing to the guilty party. No...I think it was us being panicked into a selling frenzy that was self-perpetuating. There’s a LOT of low-hanging fruit right now with solid companies paying huge dividends (e.g., USB, PFE, EXM, etc.) You watch...the timid stay huddled in the dark while those with the stones start picking the fruit...same old risk-reward and having the guts to act on it.
Until we are told who was making 'an old-fashioned bank run,' we won't see the coordination. First was Shummer orchestrating a bank run, then this. What happened next is demonstrative of coordination.
I read about this the other day -
http://www.riehlworldview.com/carnivorous_conservative/2009/02/collapse.html#comments
I bet it was Islamic terrorism....they have so much access to money from all the oil the US has bought.
And if “I was a terrorist”...who would I want for US president?
Obama or McCain?
Obama...of course
I dont think Soros was involved in this one. He had been funding McCain’s Reform Institute for years....so he was set whoever won the election
It would have to be someone who had a little more to fear with a McCain victory
Maybe. More importantly, the trio engineered a corrupt and morally bankrupt socialist bailout of the Wall St. fat cats who created the overleveraging and the toxic financial instruments in the first place.
>George Soros.
>>When is anyone going to get investigate this?<<
No one on this earth will investigate.
But come Judgement Day..........
How can these people sleep at night?
Have they no souls?
My guess is George Soros. Let’s round him up and waterboard him to get him to confess it all.
I have a cousin who was at Merrill during this period and he told me two months ago there was rampant talk up and down the corporate ladder of our financial system being under attack then. Their first suspect: Soros.
Have they no souls?
________________________________
In a word........NO. They are utterly evil.
Except there is an itty-bitty problem - there was a legitimate triggering mechanism. You have to apply Occam's razor here - an electronic panicked bank run in response to bad news is the simplest explanation. And you also have to demonstrate how a few individuals could control $500 billion in money market funds to be able to coordinate such a conspiracy.
Well, it seems upper management at his company had unwittingly been doing just that with their piss-poor risk management.
I’m getting a lot of private email asking where to look for low hanging fruit. I like:
http://finance.yahoo.com/q?s=EXM
as a starting point as it gives a quick picture of the company. Note that you can change the company symbol on the page. I’m simply using the URL that posted if you selected one of the stocks I mentioned (e.g., EXM).
Oh, what a relief -- the SEC's looking into it . . /s :(
In a word........NO. They are utterly evil.
___________________________________________
Yes, they are.
If Soros or someone knew there was a glitch in the electronic systems, he could have triggered it and let it happen. For him a win win, he makes a fortune and McCain goes down. Funny how that worked out so well for everyone but the little guy.
Pray for America
I agree. Really frustrating.
but, but, but I thought we supposed to buy high sell low
I am not sure what disturbs me more...the run on the banks....or the absolute silence from the media concerning the event....
No, no, no. That's what the government does.
If Bernanke and the boys knew that there was a run of $550 billion it wouldn’t come out of thin air and they would know where the demand was coming from. Why doesn’t some enterprising journalist ask him?
This story is an interesting....but I think you will find that there are “man gates” on all computer systems that are used for money transfer...an outside user has to clear a real live person before the transaction is completed, in other words there is no direct connection from the outside to the internal pot of gold.....
In addition, many agencies monitor the internet traffic, for money transfers related to drug traffic, terrorism, and other illegal traffic...
I am not saying it didn’t happen, but I find it difficult to accept....
Yeah, and ask where the $550 billon went.
Hey your Freepers.........pride yourselves on Research
Note in 2007, under heavy Lobby Pressure the “uptick” rule was abolished......in a nutshell allowed “bear” raids on Lehman, GS etc to become very easily done by a hedge fund.
The ability to do this made it very easy for the “engineer” of this meltdown to drop the value of Money Market funds under the magic 1.00 level...once done computer selling took over and panic......
and in a few days the surge put on by Palin/McCain melted away and by golly the fix was in
I saw this happen live on CNBC. People seem to have forgotten that a money market “broke the buck” the day of this bank run. That had happened only once before, and investors were already jittery.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5O2y1go1GRU
Does not reporting M3 have anything to do with this?
Except there is an itty-bitty problem - there was a legitimate triggering mechanism. You have to apply Occam's razor here - an electronic panicked bank run in response to bad news is the simplest explanation. And you also have to demonstrate how a few individuals could control $500 billion in money market funds to be able to coordinate such a conspiracy.
Why is bad news the simplest explanation? How come only a 'few' got the bad news? And who had control over $500 billion in the money markets that could draw out in the matter of an hour or two? Why was this 'draw out' NOT covered 24/7 by the business networks? Until we are told who did the drawing out we are left only to speculate as to motive or lack there of. Occam's razor was deliberately dulled by some who deliberately caused the economic melt down. Remember lord McCain had already announced to the world he did NOT know economics in a primary debate.
I will not for one minute believe that whomever caused the triggering mechanism is an unknown. And that WHO if it were 'republican' rich fat cats would have been disclosed by the powers of money that be plastered all over the cable news 24/7 for Bama,Inc. p>
Lord McCain, after he voted for the 'bailout' took to his campaign trail the promise he would name names, so it is NOT like it is unknown WHO did this. But lord McCain has yet to fulfill that promise of naming names, and seems like nobody else in government or what is left of the 'free' economic institutions are anywhere near ready to out WHO cause this perfect storm by causing an economic collapse heard around this globe.
Ask Chucky Schumer and IndyMac. Bad news is the main cause of bank runs. When the buck was broken, folks suddenly realized their money was not FDIC insured. Providing a government guarantee to money markets ended the run.
How come only a 'few' got the bad news?
How do you know it was just a few? $500 billion represents a lot of money market accounts.
Let us watch and see who (or what) reaps a significant benefit from this manipulation (other than BO, of course, because it worked handily in his favor there is no doubt) and then we might have a decent chance of correctly identifying who (or what)was responsible. Otherwise I would have to assume that this was another case of players in our economic system acting like lemmings, which is known to occur with some regularity.
The more important thing is finding out why we were vulnerable and repairing that, getting stronger. This “stimulus” package, short term is NOT helping that. But, maybe we can use it like chemotherapy.
The long-term negatives from it will hit liberals harder. We, the sane cells of the body politic, just have to survive, and when things aren’t so toxic we will thrive.
OR.....a few days BEFORE
YES, Chucky Schumer did fire the first shot, and he has the perfect government protection for no liability for causing economic disaster. I until shown otherwise believe he is the first in line conspirator of a well planned economic perfect storm to unsuspecting investors for a liberal October surprise. They pulled it off and today Friday the 13th is their perfect witching hour.
We won't know if the $500 billion represents many handlers or a dozen handlers, foreign or otherwise, until somebody starts naming names.
Unless you want to turn blue, don't hold your breathe. Signs clearly point to dims and nobama being accomplices in this. Why would they want to expose themselves or their buddies.
If and when we get control back from these crooks, maybe.... MAYBE, our Conservative leaders won't be so damn compassionate and will be ready to kick some butt.
Sorry, but I just ain't buying into this when all the factors for a 'normal' bank run were in place. I guess now that the GOP is out of power, we're back in the market for conspiracy theories like we were during the Clinton years.
This is too big a news item to stay hidden. It should not be hard for a reporter to find out who started this bank run. Who made the first big withdrawals? It was certainly very convenient for Obama and the Democrats. We need to ask, “What did OBAMA know and when did he know it?”
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