Did they notice Sep 15, 2008 was a Monday?
“Investors were rushing out of these [Treasury and Federal Reserve] funds—$105 billion out of $1.8 trillion on Thursday alone—which in turn caused the funds to redeem their commercial paper investments.”
How do you redeem commercial paper?
“On Thursday at about 11 o’clock in the morning the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States, to the tune of $550 billion was being drawn out in a matter of an hour or two.
How would the Fed notice people making withdrawal requests from their money market accounts?
Nearly $3 trillion travels thru the Fedwire system every day. How would they even notice?
The Treasury opened up its window to help. It pumped $105 billion in the system
The Treasury doesn't have a "window".
The Federal Reserve does. You'd think something this important wouldn't get confused like that.
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 what operation?
close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there.”
Who decided to "close down the money accounts"?
The $550 Billion withdrawn in an hour or two that Rep. Kanjorski refers to in his statement has never been independently confirmed or refuted.
Yeah, that's what I thought.
It's a story too good to confirm.
“The Federal Reserve does. You’d think something this important wouldn’t get confused like that.”
Interesting point. I’m out of my league here, but as I understand it, banks are given secret membership in the Federal Reserve. There’s a lot of secrecy about it. Based on the way Greenspan propped up Goldeman Sachs, there’s a good guess about an important member.
[Goldman Sachs was heavily invested in China in the late 90s. Paul Weyrich’s America Voice/NET had an expose, Red Chips, that caused Chinese investments to plummet, and Greenspan propped up Sachs.
‘Who decided to “close down the money accounts”?’
Once again, secrecy. Secret control and manipulation by a government run entity, all started by FDR’s banking regulations.
“The $550 Billion withdrawn in an hour or two that Rep. Kanjorski refers to in his statement has never been independently confirmed or refuted.”
He’s not the only one. Paulson talked about it himself. I posted several links about Paulson on this thread. He is convinced that Russia and China orchestrated the meltdown, and the timing is highly suspicious.
If Soros were involved, Obama gave him a payoff with Brazilian oil. Goldman Sachs received payoffs.
I’m next going to get into an undeniable truth about government control of capitalism. FRegards ....