What Really Happened on September 18, 2008?

On Thursday, September 18, 2008, the United States economy nearly collapsed.

What?! Didn't hear about it on the evening news? President Bush, Sen. McCain, Sen. Obama didn't mention any of this? The New York (Slime) Times didn't run the story the next day?

But the fact remains is that there seems to have been a major event happening that no one was telling the American public about. What they did tell the people about was that there was a huge economic crisis going on and we needed a $700 billion bailout package approved right away.

Oh, you might remember that one. Treasury Secretary Henry Paulson came out with this huge $700 Billion plan to rescue the housing and banking institutions. Lehman Brothers had just collapsed days before. President Bush immediately came out with a ringing endorsement of the plan, much to the dismay of conservatives across the country. Congress balked at the scant five pages Paulson presented and demanded some more information. And actions that normally would have taken months and months of political bargaining and back and forth rhetoric, was completed in so little time that it made the pundits collective heads spin.

Why?

Well according to Rep. Kanjorski, it was because the White House told Congress that if they did not act on this immediately, he would declare Marshall Law. Didn't hear about that either, did you?

Rep Paul Kanjorski (D-PA) was quoted on C-Span saying, "On Thursday (September 18, 2008), at about 11 O'clock in the morning, the Federal Reserve noticed a tremendous draw-down of ... money market accounts in the United States."

$550 billion was being drawn out in a matter of an hour or two. The Treasury tried to stem the flow by pumping $105 billion in the system. But it did not work. They soon realized they were having an electronic run on the banks.

They closed the money markets accounts and announced a guarantee of $250,000 per account to reduce the inevitable panic that would soon set in.

It was estimated that if they had not acted, the US economy would have collapsed by 2pm; and 24 hours later, the world economy would have fallen.

So who was behind this dastardly act? Was it a concerted effort or just a coincidence that a lot of people in the money markets were all drawing out money at the same time?

9/11 was about so much more than a simple terrorist attack on the United States. It was a plan to take out the economy (the World Trade Centers), the military command (the Pentagon) and the leadership (the plane that failed to strike either the White House or the Capitol Rotunda). Bin Laden and the leaders of Al-Queada would like nothing more than to see the US fall, followed by the rest of the infidel Western world. And their preferred method, though death and bombs are the tools of choice, is to collapse the economies of their enemies.

So was this a new terror attack? Or was it greed and panic by the average investor type who has nothing more on his agenda than to accumulate wealth and power? Or could thsi have been a Madoof version of individual greed running for the hills?

You would ask why the Federal Reserve, the President and our leading political representatives, and why the American public was not informed. I think Rep. Kanjorski said it best during the interview with C-Span. "Why? Because if you don't have a banking system you don't have an economy" And why is that important, and why would the President threaten Marshall Law? Again Kanjorski had it right. "It would have been the end of our political system and our economic systems as we know it."

So what else is the government, Congress and the President, not telling us?

So many questions, very few answers. We may never fully know what has been going on. And maybe we don't want to know.

Sources:

The Motely Fool

http://caps.fool.com/blogs/viewpost.aspx?bpid=143295&t=01006124249416869148

BoingBoing

http://www.boingboing.net/2009/02/09/rep-kanjorski-550-bi.html

YouTube - Kanjorski

http://www.youtube.com/watch?v=_NMu1mFao3w