Posted on 03/01/2011 6:12:36 AM PST by KosmicKitty
I already found out that Kanjorski didn't know what he was talking about. I'm just trying to show Freepers who keep repeating what he said.
If you think his nonsensical statements made sense, color me unsurprised. LOL!
The all powerful, all knowing, Todds has spoken.
LOL
IF you want to know, YOU will ask the author of the article.
You don’t, and won’t, so you weren’t asking to know, eh?
Or continue in your ignorance.
“The new battle space is the economy,” he said. “We spend hundreds of billions of dollars on weapons systems each year. But a relatively small amount of money focused against our financial markets through leveraged derivatives or cyber efforts can result in trillions of dollars in losses. And, the perpetrators can remain undiscovered.
“This is the equivalent of box cutters on an airplane,” Mr. Freeman said.
~~~~~~~~~~
SOROS AND HIS EVIL MINIONS.
Like I said,
YOU asked the question.
YOU are the one who continues in your own ignorance.
AND you didn’t ask to find anything out, did you?
No you asked to badger posters with questions.
You just like to badger people.
Otherwise, IF YOU already KNOW the answer, why were you asking?
LOL
Added note to the above
“Officials, who spoke on the condition of anonymity, said senior Pentagon policymakers, including Michael Vickers, an assistant defense secretary in charge of special operations, blocked further study, saying the Pentagon was not the appropriate agency to assess economic warfare and financial terrorism risks.”
ping for later
Mark.
The withdrawals Kanjorski is describing there were NOT one counterparty. They were in fact coming from tens of thousands of individual savers who were concerned that even the assets in their money market accounts were no longer safe from the financial contagion.
If it were anything other than that, then extending the FDIC 250k quarantees to money market accounts (held at non-FDIC institutions like brokerages) would not have been effective in stemming the tide of the withdrawals. But it was effective, the withdrawals stopped. There is in fact no way to “short” a money market fund. The nefarious actors you want to exist A. don’t and B. couldn’t accomplish trades such as those being described in the clip.
I REPEAT. You guys have no idea what you are talking about. You don’t understand the financial markets, and when you are going around looking for one or two scapegoats to blame for a disastrous system-wide screw-up, then you are in the LOONY ZONE!
So tens of thousands of people all made the withdrawals on the same day at nearly the same times? Really?
I admit, I know little about the markets, but the timing and effect are suspicious.
YES!
Go look at the newspapers from that time period. This didn’t happen in a vacuum on a clear bright day. The entire financial system appeared to be collapsing. Money market funds were seen to be “breaking the buck” meaning that the assets that they held were no longer equal in value to the dollar amount of the deposits that savers had put in. Some money market funds were already unable to meet withdrawals. The system was in absolute peril, which is why the bailouts - of which this was but one - occurred.
No one knew at the time where any of this was going to end, but panic was extremely widespread.
IIRC there was much talk of this right after the market did it’s thing. Manipulations coming from Asia or China was mentioned. Soros was also mentioned.
This is what triggered the crises in the economy in September 2008, not “greed” or “deregulation” etc. A few days later on September 11, 2008 $100’s of billions of dollars were being taken out of the U.S. economy. On Sunday September 14, 2008 Lehman Brothers collapsed followed a few days later by AIG almost going bankrupt and requiring government assistance.
Merrill Lynch then needed to be purchased by Bank of America and on September 25, 2008 Washington Mutual collapsed, the biggest bank failure in American history.
All these happened remarkably quickly and caught almost every one by surprise.
The true story of what happened in September 2008 has never been fully told. Maybe this report will shed some light on this huge financial meltdown.
I thought we knew this right after the event. Weren’t we told that whatever economic pipeline they closed was “just minutes ahead of complete fiscal annihilation”?
Been out of town all day- just sitting down to do some work and catch up with the world. It’s AMAZING how much good it does the spirit to get away from all of it for awhile!
I seem to remember some talk about this way back around the time this happened. I’ve always thought Bill Gertz was a good man (don’t know why Greta doesn’t have him on anymore) so I’ll read this carefully.
Thanks for the piing:)
He was no doubt part of it.
“credit default swaps, derivatives, and speculation postions. These three things are the real demise of true investment and a risk / reward system”
IMHO you are correct. In another post I compared the current commodities market to selling drugs you don’t have. WS would be howling for gun control if they got the same treatment many drug dealers get. I have quit believing many so called conservatives that preach the risk/reward because they always defend WS and don’t really believe in an honest system.
It was the Dems’ (with “trust me, Fannie’s fine” Barney Frank in the lead) doing. The whole point was to win the elections that year.... and it worked.
I completely agree with you. Although, I often wonder if these same people defend WS in blind ignorance because it is supposed to represent free enterprise and capitalistic endeavor. These are probably, for the most part, the same people who have such a limited understanding of finance and markets as to think that the DOW is 'The Market'. Without a grasp of complicated financial instruments that seem to flourish out of mid-air overnight, no one really knows what is going on with the wizard behind the curtain. What I can't figure out is who likes it that way more, the brokers, PDs and investment bankers who get away with literal pillaging or the sheeple who have no desire to understand what drives the consumer markets.
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