Secret Plan To Crash The Stock Market, Destroy JP Morgan

Discussion in 'Wall St. News' started by bearice, Mar 24, 2011.

Are Stock Markets safe?

  1. Yes

    5 vote(s)
  2. No

    8 vote(s)
  1. A former official of one of the country's most-powerful unions, SEIU, has a secret plan to "destabilize" the country.

    The plan is designed to destroy JP Morgan, nuke the stock market, and weaken Wall Street's grip on power, thus creating the conditions necessary for a redistribution of wealth and a change in government.

    The former SEIU official, Stephen Lerner, spoke in a closed session at a Pace University forum last weekend.

    Lerner said that unions and community organizations are, for all intents and purposes, dead. The only way to achieve their goals, therefore--the redistribution of wealth and the return of "$17 trillion" stolen from the middle class by Wall Street--is to "destabilize the country."

    Lerner's plan is to organize a mass, coordinated "strike" on mortgage, student loan, and local government debt payments--thus bringing the banks to the edge of insolvency and forcing them to renegotiate the terms of the loans. This destabilization and turmoil, Lerner hopes, will also crash the stock market, isolating the banking class and allowing for a transfer of power.

    The Blaze procured what appears to be a tape of Lerner's remarks. Many Americans will undoubtely sympathize with and support them. Still, the "destabilization" plan is startling in its specificity, especially coming so close on the heels of the financial crisis.

    Complete article:
  2. 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.

    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.
  3. 1) 3-2. :confused:
    2) It would mostly "destroy" wealth, not "redistribute" it because nearly everybody would be "long and wrong". Very few short-position holders would "benefit". :cool:
  4. etile


    In the bigger picture, would it even matter if you were short a systemic collapse of the entire market? To be a king of an empire of rubble doesn't sound all too appealing.
  5. "Good points". :cool:
  6. etile


    ic what you did there.
  7. Destroying money doesn't make labor more scarce.
  8. hiptogo


    destruction as an answer to life...great
  9. Secret Plan, but you get to know all about it on Elite Trader. :D
  10. AK100


    Yep, I love all these 'secrets' that everyone knows about :)
    #10     Mar 24, 2011