How The World Almost Came To An End At 2PM On September 18

[uscitizen]

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 18), 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.

http://zerohedge.blogspot.com/2009/0...at-2pm-on.html

[ib1yysguy]

Holy shit.

Thanks Bush voters.

[Blackwater Lunchbreak]

This is the flaw of globalization. We're forced to be interconnected with people who may be operating on different long term strategies. Our entire nation just may mean a quick buck to them. Given this difference in viewpoint, globalist fanaticism should be tempered somewhat, with more concern for the people involved.

[ib1yysguy]

This is the flaw of globalization. We're forced to be interconnected with people who may be operating on different long term strategies. Our entire nation just may mean a quick buck to them. Given this difference in viewpoint, globalist fanaticism should be tempered somewhat, with more concern for the people involved.

OMG WE SHULD BARTER!

[cawacko]

Holy shit.

Thanks Bush voters.

Your welcome. What did we do?

[Blackwater Lunchbreak]

OMG WE SHULD BARTER!

Or at least consider american workers somehow in the equation.

[ib1yysguy]

Your welcome. What did we do?

What happened? I don't understand! We just ran the country for eight years... now it's like you want to blame the results on us too! Me not understand.

Cawacko

[cawacko]

What happened? I don't understand! We just ran the country for eight years... now it's like you want to blame the results on us too! Me not understand.

Cawacko

Since I can't read his original post Einstein I have no idea what you are thanking me for, thus my question to you.

[uscitizen]

Don't tell him.

[Annie]

Holy shit.

Thanks Bush voters.

or perhaps George Soros? Or other sources, (Russia, China, Iran), that have a hard on for US?

[uscitizen]

or perhaps George Soros? Or other sources, (Russia, China, Iran), that have a hard on for US?

China quite possibly. they were wanting to get their money back. China loved us up till this, we were making them relatively rich.
Iran I would say not since you had to have money in there to pull it out.
Russia not too likely either.
Japan, perhaps.
Malasia, Tiawan, etc or any other major investor in American finiances.

[Cancel7]

or perhaps George Soros? Or other sources, (Russia, China, Iran), that have a hard on for US?

George Soros took down the American and Global economy in a plot.

I give up, seriously.

[uscitizen]

George Soros took down the American and Global economy in a plot.

I give up, seriously.

Oprah did it