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How the world almost came to an end

 
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ElfDude



Joined: 31 Dec 2003
Posts: 11084
Location: In the shadows of the everlasting hills

PostPosted: Wed Feb 11, 2009 10:58 am    Post subject: How the world almost came to an end Reply with quote

Have any of you guys seen this? I just now came across it.
http://zerohedge.blogspot.com/2009/02/how-world-almost-came-to-end-at-2pm-on.html

Quote:
Sunday, February 8, 2009
How The World Almost Came To An End At 2PM On September 18

Posted by Tyler Durden at 12:56 PM

LiveLeak has caught a scary moment of previously undisclosed insight by Paul Kanjorski where he reveals some facts that have not been captured by the media previously. At 2 minutes and 20 seconds in the video below, Democratic Representative Kanjorski explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occurred over the period of an hour or two. And it gets worse. Kanjorski paraphrases the following disclosure by Bernanke and Paulson:

On Thursday (Sept 1Cool, at 11am 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 is 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.

Interestingly, Kanjorski, and likely more and more Democrats, are starting to shift to the camp that more time is needed to make a correct decision this time (which may explain Geithner's decision to postpone the "bank-rescue" announcement by one day to Tuesday), instead of rushing into another half-baked plan. Very scary stuff.


You can see the video here:
http://www.youtube.com/watch?v=pD8viQ_DhS4

Seems to me this was probably the information that was taken to George Bush when he suddenly declared that we had to take drastic action and do it immediately, which lead to that awful TARP bailout package.

My question is, who was behind this electronic run on the banks? Who was withdrawing the money? It seems very calculated. And it wasn't really reported in the news outlets at the time which seems odd.

Terrorist activity?
An early "October surprise" intended to influence election results by damaging the economy?
I'd really like to know more about this...
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awip2062



Joined: 13 Nov 2003
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PostPosted: Wed Feb 11, 2009 7:44 pm    Post subject: Reply with quote

Boy does that raise a ton of questions!
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CygnusX1



Joined: 05 Oct 2005
Posts: 17336
Location: We don't call 911 here.

PostPosted: Thu Feb 12, 2009 6:10 am    Post subject: Re: How the world almost came to an end Reply with quote

ElfDude wrote:
My question is, who was behind this electronic run on the banks? Who was withdrawing the money?


BERNIE MADOFF comes to mind, but I'm being facetious.

They have him on ice.
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zepboy



Joined: 10 Nov 2006
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PostPosted: Thu Feb 12, 2009 6:38 am    Post subject: Reply with quote

Wow.

Would that change things if it was found to have been a hacker in a political campaign team?

Don't worry, I am not beginning to go off on a conspiracy tirade.
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awip2062



Joined: 13 Nov 2003
Posts: 25543

PostPosted: Thu Feb 12, 2009 1:52 pm    Post subject: Reply with quote

If it were from Obama's side, I don't think it would change things. We did elect him and he didn't just barely squeek in.

If it were from the mcCain/Palin side, it might change things. I think it would effectively assure she could never run for a high office again. And rightly so if she were involved!
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