I hope you would like to give it a listen. We have work to do.
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 with $105 Billion. But could not stem the tide. It was an electronic run on the banks.
The treasury intervened but 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not closed down the accounts they estimated that by 2 PM that afternoon (Within 3 hours) $5.5 Trillion would have been withdrawn from the US money market and would have collapsed the U.S. economy and within 24 hours the world economy.
It would have been the end of our political and economic system as we know it.
BTTT
BTTT
Sleaze, spin and how the Obamas are already
turning into Tony and Cherie Blair
Daily Mail (UK) | 2/6/2008 | Mary Synon
Posted on 02/06/2009 6:54:41 AM PST by 1066AD
http://www.freerepublic.com/focus/f-news/2179655/posts
Defence chief attacks ‘weak’ Afghan leader
The Times | February 1, 2009 | Carey Schofield and Michael Smith
Posted on 02/01/2009 7:42:51 AM PST by Mercia
http://www.freerepublic.com/focus/f-news/2176202/posts
It’s got nothing to do with a conspiracy or economic terrorism.
“When Lehman filed for bankruptcy on Sept. 15, it set off a scramble by corporations and individual investors to get their money out of money-market funds that held Lehman debt. The $62 billion Primary Fund held a $785 million investment, which was 1.2% of its holdings, in Lehman commercial paper.”
This was all very widely reported in the WSJ, the FT, etc. at the time.
Duh.
This whole thread needs to be reorganized ...and start with the Kanjorski Video Segment...
I take that back..since you initially focus on the Housing crisis,....maybe we need another thread....and reference this one.
Has the nation ever been under such siege from inside outside of the War Between the States?
Sorry that Jim Simpson couldn't make it, this time. He was on just a week earlier, if you wish to listen to the archive of last Monday's "The Awakening" program, 2/9.
Will there be a streaming audio link for those who cannot listen in at that time?