Posted on 03/01/2011 6:12:36 AM PST by KosmicKitty
well it’s about frickin’ time
Other than obama’s unexposed identity issues, this is the second biggest story since 9-11
“Someone” started a bank run (on Sep 11th 2008?????) and we have never been told who or where that withdrawn $550 billion in one hour went before the system was shut down to stop a total bleed out - estimated 5.5 trillion would have been drawn out in 4 hours if system not shut down
Kanjorski comments on electronic bank run
http://www.youtube.com/watch?v=ReCIBQXDhn0
And recently when the Financial Crisis report came out it was reported that the $20 Billion that was withdrawn from BOA that started the Bank Runs well they didn't even bother to subpoena and find out who took it out. I've long said thee Fed is working in collusion with obama by monetizing our debt, it could be said they set the middle east on fire in fact many are saying that now. This is cover up on the grandest scale possible.
Wall Street’s Collapse to Be Mystery Forever
How Attorney General Eric Holder Colluded With Bank Of America To Destroy Wikileaks
Update of $550 Billion Run on Banks
9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED ECONOMIC MELTDOWN
McCain/Sarah starting to inch ahead in the polls and blammo, a left hook from Soros. When is he going to be investigated as a national security risk? Can the freshman in congress form a committee after this news?
His comments are so full of holes and errors it isn’t even funny.
Time will tell. But the timing of the $500 billion movement of funds out of the money center banks in one day, just as John McCain was catching up to Obama in the polls in mid-September 2008, must be far more than coincidental. Democratic Rep Kanjorski spoke of it on TV; I saw him. This tipped the scale from budding recession to a severe liquidity crisis in the money center banks that soon affected the community banks. There has been precious little media inquiry into this and NO names have been named that I have heard. Now a Pentagon review of the matter has been stopped in its tracks by a Democrat.
Shine a light of truth on what really happened, and I do think the military has a role in this, and we will see who is insane. I think it is insane NOT to be highly suspicious of what transpired and the breathtaking silence after the fact. After all, the Obama administration and the lefist Democrats have established a pretty good track record of undermining the strength and strategic interests of this country.
Exactly. Someone was about to get caught in a massive short position....MASSIVE (The size of which makes JP Morgan's current short position in silver of hundreds of billions of dollars look like a drop in the bucket). Rather than get caught with their pants around their ankles an unable to make good on the positions, they yanked all liquidity from the market quickly (Better to bring everyone down than to pay off the shorts). The problem is that they did it so quickly and the immediate reduction in liquidity drove the markets down to a point where they actually made billions on the same short positions they were about to lose their necks over.
Now, there are only three, maybe four, investment houses that control enough capital to have that type of effect. The only one that came out smelling like a rose and actually making money is Goldman Sachs. They are also the only house that would have their proverbial backsides covered if it all went amiss - look at the prior employment history of Treasury oficials and Federal Reserve officials. Goldman executives will NEVER be called upon to release any information about their positions and trades during this meltdown - hell, if you peddle it out to enough brokers, nothing even looks peculiar.
The meltdown was not the problem. The problem was the series of events that it created on the backside through credit default swaps, derivatives, and speculation postions. These three things are the real demise of true investment and a risk / reward system. AIG wrote so many 'insurance' policies on investments that were assumed to be a no-lose proposition. The problem was, when they did lose, they couldn't cover what they had written. To bad, so sad - they should have been allowed to fall, and everyone that bought worthless 'insurance' from them that failed to spend a bit of time on due diligence and realize that they couldn't cover all their bets should have payed the price for failing to do so. Lehman Brothers, Bears Stearns, CitiBank, and JP Morgan all would have followed them down the toilet, but that is exactly what was needed. By bailing out AIG and the investment houses, the FED removed the risk from the risk / reward nature of investing. Yes, it would have been a mess of prolific proportion, but it could have been sorted out by now for a hell of a lot less than the trillions that the FED is carrying on the books as a result.
So, who got caught with their pants down and rather than pay the piper decided to tank the market and make a few billions on the short positions?
“Wall Street contains many ‘elite revolutionaries’ that believe they can best run the system.
Jamie Dimon, Jeff Immelt, etc are well know ‘progressives’.”
Don’t forget about life long demoRAT lloyd blankfein. See also post #42
Did you hear about Goldman Sucks sweet deal?
Critics: Goldman should give back $2.9 billion to taxpayers
Read more: http://www.mcclatchydc.com/2011/02/15/108802/critics-goldman-should-give-back.html#ixzz1FMgPJBgv
Barack’s Wall Street Problem is Now America’s
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas/
This is just one in a long line of "sweet deals" that Goldman has received, not only since 2008, but in perpetuity. Goldman Sachs was about to be squeezed like a porn star's breasts in Charlie Sheen's hands, and came out not only unscathed, but with hundreds of billions in returns - Courtesy of you and I.
The Dems did not monitor Freddie Mac and Fannie Mae intentionally. They were planned to fail.
The IMF in 2007 (once led by Soros) forced new accounting method (mark to market). Congress knew Obama ineligible.
Obama allowed to run for president after Dems snookered Repubs and Hillary, and switched horses in midstream, thus on
Mar. 12, 2008 threats were made in closed session of congress that economy and dollar to fail, NAU w/amero to replace dollar, riots, etc. Neither party reported it to voters. Were they frightened, threatened, tired of capitalism, paid off? (Same for 2 justices on SCOTUS)
Thus, with these things in place, Howard Dean and Pelosi forced Hillary’s delegates to switch votes to Obama.
Bush/Paulson had TARP ready as a result of Mar. 12 meeting.
Gas prices, ARMs, forced unqualified homeowners out.
The run on banks was to cause Repubs to lose and make Obama’s transformation of Amerika easier.
Do you suppose all that was “planned?”
Now that the Vatican bank is reported to have millions or billions in the accounts of politicians, including Chief Justice John Roberts and others, it is easier to see we were sold out.
Democrat Party???
Thursday, February 12, 2009
9/11/2008 CATASTROPHIC FINANCIAL TERRORIST ATTACK CAUSED ECONOMIC MELTDOWN
The recent bombshell that Rep. Kanjorski dropped gets bigger and bigger. Atlas reader Suzanne picked up on a mindblowing “detail” in my blog post: “RIGHT BEFORE THE ELECTION OF PRESIDENT HUSSEIN: “A $550 Billion Electronic Run on the Banks”. Paul Kanjorski describes the closed door session of Congress where it was revealed that there was a $550 billion electronic run on the banks and that was what caused the economic crisis.
In the video, Kanjorski says this occurred on Thursday, September 15, 2008. September 15th was a MONDAY.
THURSDAY was .......SEPTEMBER 11, 2008
This was a Financial Terrorist Attack on the seventh anniversary of 9/11. Aren’t the American people entitled to know who was behind the run on the banks?
Why was this kept from the American people before the most important election in US history? And why did Obama treat it as an unimportant incident - accusing McCain of grandstanding when McCain left the campaign trail and flew to Washington? Remember what President Hussein said? “They’ll call me if they need me.”
FLASHBACK: “Call me if you need me”
When President Hussein was campaigning and the “economic crisis” hit, he did not think it pressing enough to leave the campaign trail, but now we should push through a trillion dollars in legislation without oversight because a few weeks later the King deems it urgent?
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.
[...]
“Why did we do that? Look I was there when the Secretary and the Chairman of the Federal Reserve came those days to talk to members of Congress about what was going on. It was about September 15th. On Thursday (Thursday was September 11th] Here’s the facts and we don’t even talk about these things.
On Thursday [Thursday was September 11th] at about 11 o clock in the morning 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.
Read the rest of this
How would the Fed notice people making withdrawal requests from their money market accounts?
Nearly $3 trillion travels thru the Fedwire system every day. How would they even notice?
The Treasury opened up its window to help. It pumped $105 billion in the system
The Treasury doesn't have a "window".
The Federal Reserve does. You'd think something this important wouldn't get confused like that.
and quickly realized that they could not stem the tide; we were having an electronic run on the banks. They decided to close the operation,
Close what operation?
Love your post.
People who knew the world of Wall Street and what they were doing had been warning about some sort of collapse before 2007. This stuff was known, just not to the American people. Only small blog sites had this info and were trying to warn the public.
WE HAVE BEEN SOLD OUT TO THE SOCIALIST/COMMIES BY WALL STREET/ POLITICIANS / ELITES / WASHINGTON D.C.!!!!
Ah, Todds, the poster had a link to the article he posted.
Write to the writer of the article.
I’m sure they would be happy to answer your questions.
Yes he did, good catch.
Write to the writer of the article.
You want me to write to the guy who quoted Kanjorski?
I’m sure they would be happy to answer your questions.
Or you could ask them to refute my corrections. Let me know what they have to say. Thanks for your input.
LOL
You want to know, you find out.
Otherwise, you are just asking without really wanting to know, eh?
LOL
Actually most ARM’s that have adjusted the past 5 years would have dropped in rate at adjustment.
Most people that I see who have ARM’s that have reset; are in the mid 3’s right now.
That won't last of course; but they have saved consumers quite a bit of money in interest payments.
I am not promoting the links on this, just the words of the congressman on C-Span.
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