Posted on 05/24/2023 9:10:14 PM PDT by george76
The 2008 event was initiated by an unknown entity (George Soros?) who sold $500 billion of stock (on August 2 months before the election) so that the Republicans (John McCain) would get blamed for the market collapse.
Rep. Paul Kanjorski of Pennsylvania:
“On Thursday (Sept 18), at 11 in the morning the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system 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 down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation was that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed... It would have been the end of our economic system and our political system as we know it... We are no better off today than we were 3 months ago because we have a decrease in the equity positions of banks because other assets are going sour by the moment.”
We sold China the rope to hang us
another saying we fed the tiger that is going to eat us...all for short term profits for the elite..with no concern for the future, its here now...
It’s been “on the brink of collapse” for a decade.
I’m told the ChiComms have implemented CBDC. If so, why can’t the ChiComms withdraw money from personal accounts and buy housing?
For example, Mr. Han wakes up and discovers his bank account has been drained and he’s now the owner of a house in a Peking suburb. Isn’t that the way CBDC works?
In the 80s it was the japs who were going to own everything. Their currency was running up based on hyper valued real estate. Eventually it crashed. Our bubble is similar now. If they push the mark to market much more the banking system will collapse because the bonds used to underpin their loans are worth less than their face amount due to the run up in interest rates. So with the debt limit reached they can redeem as long as receipts cover the redemptions.
We are only in the third inning of this disaster. Next score could be a bank holiday and overnight digital currency out of the bull (so/$) pen. 100 years ago if they pulled this crap there would be revolution. Not today, everyone has gotten bought off with debt.
It wasn’t just the elite. I know business people in my own
town who were ecstatic that they were going to have some
manufacturing done in China.
I’m not talking about a terrible wealthy individual either.
Back in the day when we were talking about this, it wasn’t
the elites defending those actions. It was folks like you
and I who simply saw things differently.
It bothers me when we play the Communist’s game of trashing
the wealthy.
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