Under-Reported $550 Billion Electronic Run on the Banks

By Tuesday February 10, 2009

About half way through this video we are told of a massive run on the banks. By Whom?!?!? Who did it?



36 Comments
  1. deowll says:
    2/10/2009 at 4:45 pm

    I think I see a light at the end of the tunnel. I think it’s a freight train headed our way.

    Reply
  2. Li says:
    2/10/2009 at 5:12 pm

    Keith Olberman is playing this clip, right now, on his show.

    Which, of course, means that he reads Dvorak Uncensored.

    Or Prison Planet. . . .

    Reply
  3. Mr. Fusion says:
    2/10/2009 at 5:20 pm

    #20, Mark,

    You make it sound like America had smooth sailing between 1836 and 1913. Maybe you forgot the market crashes of 1838, 1855, 1878, 1894, 1903, and 1909. Those dates are off the top of my head so I might be off by a year or two. The 1878 was considered comparable to the great depression in terms of damage. The 1894 was also an extremely bad time and was a major impetus for Roosevelt’s Trust Busting efforts.

    *

    The Fed Chairman is appointed by the President and confirmed by the Senate. Five of the Governors are appointed by the President and confirmed by the Senate. The Chairman of the Fed must make periodic statements and appear before the Congress.

    *

    The collapse was due in great part to the Feds’ continuous contraction of the money supply to dangerous levels which resulted in the catastrophic Black Tuesday.

    Is that what they teach you now in Libertarian School? The great stockmarket crash was caused by two inter related facts.

    When the market crashed in 1928 it was because so many people were over extended. They would buy on margin for as little as 5% down. As long as the price didn’t drop then they were in good shape. When the market corrected itself, stock values dropped. Many of the people on margin had to sell at a loss to pay off the now devalued stock. The flood of stock further depressed sock held by others. The Fed and major banks got a handle on the situation and it settled down.

    Then in 1929, The Fed wanted to rein in the marginal speculators and have more substantial down payments on stock purchases so they raised interest rates which tightened the money supply. This in turn precipitated a whole new round of selling. Soon, many companies were bankrupt as their stock was worthless and they couldn’t get loans. As the companies closed, the jobless ended up depressing the economy even further.

    It was not the Fed’s interest rate, it was the overextended speculators. Today we would call that “toxic paper”.

    The major differences between then and now is the banks caused our current collapse, with help from the government while in 1929 the banks actually worked to stave off the effects. In recognition of the unemployed, during his term Herbert Hoover never accepted any pay and gave away much of his personal wealth to help feed the hungry.

    Reply
  4. Mark T. says:
    2/10/2009 at 5:42 pm

    You want a comprehensive history of the Federal Reserve? Got a spare 3 & 1/2 hours? If yes, watch this vid:

    http://tinyurl.com/37txmd

    It may seem hokey, boring, and long, but this is the best documentary I have ever seen on the Federal Reserve Bank and how the United States gave away the Constitutionally mandated power to coin money to a private bank.

    It was filmed over ten years ago and speak of a catastrophic collapse of our monetary system. It is rather creepy now that it is finally happening.

    Reply
  5. Mr. Fusion says:
    2/10/2009 at 5:56 pm

    #24, Mark,

    Anyone who would watch a video as something to prove a point is not any smarter than our own dull Cow-Patty. Anyone who would recommend a video as an authoritative exercise, is about as smart as Lyin’ Mike. Either way, it is stupid.

    Reply
  6. Mark T. says:
    2/10/2009 at 6:18 pm

    Mr. Fusion, obviously, you did not watch it. Would you say the same thing if I recommended a history book or government report or PBS documentary? Look how your statement changes:

    “Anyone who would recommend a HISTORY BOOK as an authoritative exercise, is about as smart as Lyin’ Mike. Either way, it is stupid.”

    You, sir, are of one opinion and anyone who disagrees with you or, as in my case, asks you to listen to an opposing view must be deemed stupid.

    You are simply close minded ideologue. My experiences with you have shown that there is obviously nothing I can say or do to convince you of anything on any topic for which you have already made up your mind. Hence, it is pointless for me to argue with you. I have read your rants here for years and that fact has been proven over and over.

    However, I dare you to actually watch this documentary with an open mind. You might actually learn something. But, I know you won’t.

    Reply
  7. Rick Cain says:
    2/10/2009 at 7:15 pm

    Out of touch called, they want their incompetence back.

    Reply
  8. cmon says:
    2/10/2009 at 8:31 pm

    It would appear that Bin Laden made good on his threat.

    Reply
  9. Ah_Yea says:
    2/10/2009 at 9:27 pm

    They just took out the money to buy guns before the impending ban.

    Reply
  10. Mr. Fusion says:
    2/11/2009 at 12:57 am

    #26, Mark,

    “Anyone who would recommend a HISTORY BOOK as an authoritative exercise, is about as smart as Lyin’ Mike. Either way, it is stupid.”

    Well, if that is the way you feel. BUT, I would disagree. An acceptable History Book, most likely would be written by someone who knows what they are talking about, be relatively neutral, and be sourced.

    Lyin’ Mike has demonstrated over the years a tendency to not read much of anything, preferring to get his information from right wing nut radio and TV. His pertinacity for just making up claims is well known. Hence, his nickname.

    Videos are inevitable propaganda pieces. As soon as someone says “ya gotta watch this to learn all about it”, then I know it is a waste of time. I have little patience for propaganda from either extreme.

    Reply
  11. Glenn E. says:
    2/11/2009 at 1:16 am

    This whole situation is a giant shell game. The banks are the shells, and the peas are our hard earned money. We give the banks our cash to manipulate. And hopefully grow. But instead they’ve just shuffled it around until it disappeared, like all good con jobs do.

    Reply
  12. LibertyLover says:
    2/11/2009 at 7:31 am

    #23, Fusion,

    You make it sound like America had smooth sailing between 1836 and 1913. Maybe you forgot the market crashes of 1838, 1855, 1878, 1894, 1903, and 1909. Those dates are off the top of my head so I might be off by a year or two. The 1878 was considered comparable to the great depression in terms of damage. The 1894 was also an extremely bad time and was a major impetus for Roosevelt’s Trust Busting efforts.

    And how long did each of these last? One year or less.

    How long did the GD last? 10+ years.

    So what we have here is a market without government intervention correcting itself in a much shorter time frame. Or do you think it is coincidence — eight times?

    There is a reason it is called the “Great” Depression. Nobody remembers the other ones because they pale in comparison.

    The Fed Chairman is appointed by the President and confirmed by the Senate. Five of the Governors are appointed by the President and confirmed by the Senate.

    Do you have a clue where these men and women come from? The President gets to pick from a list given to him by the Fed. Jeez, you’re gullible.

    “You can have a Model T in any color as long as it’s black.”

    Henry Ford

    The Chairman of the Fed must make periodic statements and appear before the Congress.

    So, what is your point? Has Congress ever censured the Fed or tried to get them to do something they didn’t want to do? Did they succeed? Or has it been the other way around?

    Reply
  13. anon says:
    2/11/2009 at 8:05 am

    Please also read this article: http://www.dailymail.co.uk/news/article-1127278/Revealed-Day-banks-just-hours-collapse.html#

    That was back in Jan and in UK!

    Reply
  14. soundwash says:
    2/11/2009 at 11:20 am

    #26 Mark..

    it’s a futile effort. he defies all logic 95% of the time. -makes for interesting debate nonetheless.

    money masters is an old, but great vid though. -made in the mid 90′s i think. -talk about the writing on the wall.. (esp the last 20min or so)

    personally, i’d say it was Soros and his NWO crew that started the run.. things have developed that required a speed up of the impending planned crash..

    also..they who we “stole” america from are still sore over that fact.. (yes technically it was american indians, but that’s not who i’m talking about)

    like they say…”follow the money”
    (which oddly, no one seems to want to mention “who’s money” was being withdrawn”)

    -following the money usually leads to two places.. -the banking empire and the drug trade empire.

    now, find which entities control both, and voila! you’ll know who is behind “it all”

    simple.

    -s

    Reply
  15. soundwash says:
    2/11/2009 at 11:23 am

    -oh, may as well add to that who backs arms trading too..(but that, imo, is an old given)

    -and no, the *real* crash hasn’t happened yet.
    -s

    Reply
  16. tedbohne says:
    2/12/2009 at 8:54 am

    Well, when you consider that “money” actually has no value since there is nothing yet extant that will remain the same value without any possibility of change EVER, then this sort of thing can happen anytime. WHO DUN IT? Who drew down the money market by 550 billion? If kanjorski can’t explain the situation better than his recent expectoration, he should simply stay away from microphones. When you have investment firms and loan companies selling mortgages without any collateral, no down payment, poor credit histories, and such, knowing full well this “SIV” will crash and burn, then you hang these bastards by the neck until dead. Jeezus Horatio Krist!!, where talking many thousands of BILLIONS of dollars. In fact, my sawbuck says no one actually knows the real amount. The rich filth are still behaving like high school sophomores. Congress seems to have no problem in making up rules for RECEIVING these handouts AFTER the money is gone!! Kanjorsky spoke of the end of the economy and government as we know it. BRING IT ON. GOOD GOD!! it can’t be worse than this sorry country!

    tedbohne

    Reply

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