Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Freee-dame

Here is the good link :

http://laeastside.com/2009/02/550-billion-disappeared-on-september-15-2008-“electronic-run-on-us-banks”/


20 posted on 03/01/2011 7:14:55 PM PST by RobinMasters
[ Post Reply | Private Reply | To 15 | View Replies ]


To: RobinMasters

Thanks for finding that.
________________
Here is a transcript of what Rep Kanjorski says in the video:

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 $150 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 withdrawled and collapsed and within 24 hours the world economy.


My only two questions would be, why then ?!?; and WHO’s accounts were ‘closed down’ ?!? I seriously doubt I’ll ever know the answers to these simple questions, but it would be nice if SOMEBODY with subpoena power would try to find out, eh?


23 posted on 03/01/2011 7:23:52 PM PST by ri4dc (Cut your cable, Break Wind for the TSA, Flush Twice in 2012, and STOP ROTUS Now!)
[ Post Reply | Private Reply | To 20 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson