$550 BILLION in two hours.....LOL!!!

Discussion in 'Economics' started by AMT4SWA, Feb 6, 2009.

  1. Rep. Kanjorski: $550 Billion Disappeared in “Electronic Run On the Banks”

    February 6, 2009

    At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania 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 occured over the period of an hour or two.

    VIDEO..... http://www.infowars.com/rep-kanjorski-550-billion-disappeared-in-electronic-run-on-the-banks/

    Here is a transcript of what Kanjorski says in the video:

    On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.

    Money was being removed electronically.

    The treasury tried to help with $150 Billion.

    But could not stem the tide.

    It was an electronic run on the banks

    The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.

    Kanjorski does not provide further details.

    A Google search to verify this produces zero results.

    Bailout crimes and their minion LIARS!!!
  2. 377OHMS


    Makes sense in that it lines up well with the fear you see coming out of congress and the Obama administration. I'll bet this is what really scared the crap out of them.
  3. The fear you see coming out of the administration and congress, is the fact they KNOW they have been PLAYED by their globalist masters! :eek:

  4. in sept 2008. money market mutual funds were depleted because of fear of failure. This is way old news.
  5. Yes....that is obvious. I find it funny how they keep trying to SELL everyone on their FAILED bailout THEFT PLAN!!!

    BTW, PART II on the way!!! :eek: ...or wait, are we on part III already....LOL! :eek:
  6. goes to show there are entities that have in excess of 500 Billion sitting around in US banks. The exact same run was triggered in the UK sending the UK govt. into panic bail out mode.

    Everything printed in the western media, especially the UK and US media, is bull shit. Forbes 500 list is a nice list to throw off the hounds.
  7. And how about the reason for the US markets moving higher inspite of all the horrible economic news.

    the US Federal Reserve bank has given unknown entities $2 Trillion in zero interest loans that have no pay back date. Conjecture is a couple of the European banking families who own the Federal Reserve have the money.

    Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

    Where do you suppose the $2 Trillion is going to be placed? Why, it's the US stock and bond markets. The market will get pumped up to accomplish 2 primary goals. First, to legitimize the TARP and other bail outs in the works and Second, these entities will sell at the top of the market move. They plan to pay back the Federal Reserve and make a huge profit on top. It's nice to own the entire govt. of a wealthy developed nation.

    I expect the US stock market to hit 2006 highs followed by another sharp sell off next year that takes US stocks to 1995 lows. The sell off next year will be sharper because, after taking profits from this coming move higher, these same entities will be massively short global equities. The move will probably be precipitated by a major war news. North Korea/Japan+US, China/Taiwan+US and there is always the Iran+Russia/Israel+US. The last one being their favorite combination.
  8. trendy


    First of all, somebody needs to get the jargon down correctly. It was money-market mutual funds that were experiencing the drawdowns, not the money market accounts mom & pop get from their local bank and are FDIC insured. Secondly, since these funds were allegedly being withdrawn electronically where the hell did it go? It wasn't being stuffed under the mattress. It had to be re-deposited somewhere. So, for every bank that was experiencing a liquidity crunch, another bank was experiencing a waterfall of liquidity.
  9. Sept 15th 2008 was on a Monday, not a Thursday. This was the Monday morning after Lehman collapsed so this makes sense actually. I'll never forget that Sunday evening when everything was hitting the fan at once.
  10. It also makes sense because the market was making new yearly lows as well. All the smart money was getting out.
    #10     Feb 6, 2009