Nancy Morgan: “Was the Economic Crisis Manufactured?”

The Radio Patriot ^ | Mar. 5, 2011 | Andrea Shea King

[patriotgal1787]

. . . . .

Nancy Morgan at American Thinker has a different take on the timing of our economic crisis, its cause, and its intended outcome. Was this "a very high stakes poker game with the prize being the White House?",  one reader asked.  Consider this:

In the summer of 2008 as McCain and Obama were in the midst of their campaigns to capture the presidency, a series of events dramatically changed the focus of the campaign from Iraq to the economy. From that point on, Obama took the lead and eventually won the presidency.

Now, a full two years later, the Pentagon has issued a report on the series of events that led to the 2008 economic crash. Bill Gertz writes in the Washington Times:

"Evidence outlined in a Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system

"There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008," the report says.

Notable for its absence is any suggestion that the economic events that arguably catapulted Obama into the White House may have originated in our own political system.

Consider: The economic house of cards started tumbling on June 26, 2008, when Senator Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank's failure. "The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York."

As I wrote in February of 2009 this event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the environment that enabled Barack Obama to focus on the economy instead of his position on Iraq - and, not incidentally, resulted in his election as President.

For the last two years, the media has neglected to connect the dots regarding the strange gyrations in our financial markets that started in the summer of 2008. After Schumer caused the run on IndyMac in June, the government moved in:

July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *

* Six months later, Jan 2, 2009, a seven-member group of investors agreed to buy the remnants of failed lender IndyMac for $13.9 billion. Other investors included a fund controlled by billionaire George Soros' Fund Management.

Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.

Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the US within 24 hours.

This seminal event marked the ascendancy of Obama's candidacy, and arguably resulted in his election as president.

Fast forward to February of 2009:

The markets reacted to Obama's proposal to bail-out mortgages and Senator Christopher Dodd's talk of nationalizing banks by reaching 11-year lows.

Obama continues to stoke the fears of imminent crisis, actually using the word 'crisis' a total of 26 times in one speech.

Enter George Soros. The infamous one-worlder, billionaire George Soros adds his voice to the media doomsayers by opining that the world financial system has effectively disintegrated, adding that there is yet no prospect of near-term resolution to the crisis.*

The series of 'inadvertent errors', deliberate obstruction, political shenanigans, behind the scenes manipulation of the money markets and non-stop calls for immediate infusions of taxpayer cash brought the U.S. to its knees by February 2009. And continues to this day.

The newly issued Pentagon report, along with the media and our elected officials, seem intent on not connecting the dots, considering only foreign enemies as the possible cause of the financial meltdown:

Suspects include financial enemies in Middle Eastern states, Islamic terrorists, hostile members of the Chinese military, or government and organized crime groups in Russia, Venezuela or Iran. Chinese military officials.

This author believes there is enough information to at least consider that this crisis was manufactured for political gain. Right here at home.

***

A reader left this comment:

Although I live in NC, originally I'm from NY and I know what a cockroach Schumer is. I thought at the time that his leaking of the financial report on Indy Mac was just too correctly timed.

Before the 2008 election I knew what a dangerous and devious man Soros was and is. I couldn't understand how it was that our political leaders couldn't see this and take action. Eventually I began to realize that they're all together in a little clique that thinks it know better than we.

I think that as more information comes out, we will realize that enemies from without, such as Soros, the nations of China, Russia and others, along with those here within; our media, the bureaucracy and the Democrat party, aided by the useful idiots in the Republican party, caused and fed our collapse for their own ends.

The question remains, will enough people wake up to fight back and save America or will we look back in sorrow at what we lost?

More comments to this article can be read at American Thinker.

The Pentagon Report

[youtube=http://www.youtube.com/watch?v=TG64jaKDNL8]

[butterdezillion]

I think Soros’ goons called McCain on Sept 13th and told him that he would lose the election or else Soros would make a run on the bank that would shatter the entire world economy and turn the US communist. We know that Obama called McCain that morning and by 2pm McCain returned Obama’s call and shortly thereafter went on national TV to say he was suspending his campaign and wanted the debates postponed or canceled.

Just like Soros’ goons called President Bush on the same day and said “You will get TARP to pass or else I and my allies who made the first run on the bank will do it again on a grander scale and the USA is history.” (They probably didn’t tell Bush that TARP was only really needed to pay back Bank of America’s silence on who actually made the run on the bank, so the whole nefarious plan could remain hidden) Sure enough, GW Bush got on TV that night and said the whole western economy was history if the USA didn’t pass TARP.

I don’t have proof that this happened, but all the evidence I can find points to it.

As Kanjorski said on a TV interview later, there was no way that 700 billion could even BEGIN to actually make a difference in toxic assets; the estimate was that it would take 2-3 TRILLION to do that. So TARP wasn’t needed for the real economic effects it would have; TARP was meant to keep some other fatal event from happening, and my money says it was another run on the bank by Soros and his sharia-compliant Islamist folks and communist-sympathizing folks. The banks that were bailed out were (almost?) all sharia-compliant, foreign-owned banks that contributed heavily to both the democrats and to ACORN.

And Eric Holder worked with Bank of America to keep Wikileaks from being able to expose their involvement in the financial crash. There is a reason that even after all this happened, nobody has gotten to the bottom of exactly who made the run on the bank. That information is being hidden/protected because SOMEBODY at a high level is able to keep it secret - and it looks like it may be Eric Holder.

[Vendome]

 

ROTFLMAO!!!!

Try this one on for size and read past the first couple sentences and paragraphs:

It’s like a bunch of rich guys running around acting altruistic and claiming the death tax should be reinstated or at higher levels.

What they don’t tell you is their holdings include companies who profit from estate planning, income shelter, etc.

If the government has no death tax it is a direct competition to the insurance companies, law firms, Wall Street, etc.

Without the death tax there is no need for their services and such stringent estate planning.

Here is an excellent video explaining Warren Buffet and Berkshire-Hathaway. Get a cup of coffee and watch it. You will see the scheme explained and then you will get it.

Also note what companies he has acquired, how and why:

Why This Superrich Guy Likes High Taxes
http://www.xtranormal.com/watch/8035391/

Warren Buffett Benefited From Death Tax
http://www.humanevents.com/article.php?id=15951

Wanna know why Buffet pushed for TARP bailout?
Suffice it to say Berkshire owned stock in some largest receipents of TARP valued at $13 billion around that time.

Here is the funny part:
Buffett increased his bank holdings in September, while he was arguing in the media that Congress should approve the bailout to prevent the collapse of the global financial system.

TARP was approved in October of that year, just one month later!

It’s good to be king!

He actually said “if he didn’t think the government was going to act(in a way that would positive and accretive to hihis holding) he wouldn’t have been doing anything that week”. (paraphrased)

For more read here:
http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout-is.html

BofA in April 2009 was around $4 per share and is now trading at $13.80 per share as of 3/02/2001

Wells Fargo in April of 2009 was around $11 per share and is now trading at around $31 per share.

How about US Bancorp trading at around $14 per share in April 2009 and now trading at about $26 per share.

Goldman Sachs Group trading at some $51 dollars per share has now zoomed to above $160 per share.

How about those poor folks at American Express trading at just above $10 per share in 2009 and now they are trading at about $45 per share?

Bottom line: We, the schmuck taxpayer, paid to enhance the holdings of companies like Berkshire and investors in Berkshire.

[de.rm]

Eric Holder = loyal member of Sneakyman Inc., we are at war with a corp.!

[butterdezillion]

It would be interesting to find out who said that. I wonder when this guy found this stuff out, in relation to measures taken to insure that the groundwork was laid for the September run on the bank. How soon did the inside operatives know this plan was going to guarantee Obama’s election?

I have no doubts that this whole thing had been in the works for a long time. When Soros’ people threatened the media heads if they reported on the eligibility issue, sometime in October of 2008, they could only do that if they KNEW Obama would be elected, because the threat of FCC annihilation was a vain threat unless the outcome of the election was absolutely known in advance. Obama did not win by a landslide so there was some other weapon in their arsenal that they considered absolutely undefeatable.

I don’t doubt that sleepers are here in the USA; I suspect that Louis Farrakhan may have made his comments about the Middle East riots coming to the USA because he knows these sleepers have been given a wide-open door by Eric Holder and Janet Napolitano.

But I don’t think the weapon they relied on was terrorism, because terrorism would have been an opportunity for Bush to declare martial law and suspend the election, and would also bring out the importance of national security - which was Obama’s absolute lowest issue, that McCain beat him soundly on.

[Mortrey]

Thank you so very much for all the research you have done....and the SHARING of it.