Thread: Who Was Behind the Attack on Economy-Just Before Election?

February 17, 2009
Exclusive: Who Was Behind the Attack on Our Economy – Just Before the Election?
John Sweat

A financial attack on the world economy happened on Monday, September 15, 2008 – but we're not supposed to talk about this. The mainstream media has been ignoring this issue, and the only attention it has been receiving is from talk radio and the blogosphere.

House Representative Paul Kanjorski (D-Pennsylvania) let slip in a January 27, 2009 interview on C-Span the following about a discussion in a meeting he attended with Secretary of the Treasury Hank Paulson and Federal Reserve Chairman Ben Bernanke:

"…at about 11 o'clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of $550 billion, as being drawn out in the matter of an hour or two.

"The Treasury opened up its window to help. It pumped $105 billion into 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, and that's what actually happened."

If they had not done that, their estimation was that by 2 o'clock that afternoon, $5.5 trillion would have been drawn out of the money market system of the United States, would have collapsed the entire economy system of the United States and within 24 hours the world economy would have collapsed."

No further details were forthcoming.

The day before, as a consequence of the subprime mortgage crisis caused by faulty social assumptions (that people with the inability to pay loans, could) the announcements had been made that Lehman Brothers would file for bankruptcy and that Merrill Lynch would be sold to the Bank of America. There was proven concern that the stability of global markets were in jeopardy. What was not expected, however, was the targeted run on the banks described in the commentary by Paul Kanjorski.

A certain well-known financier has a theory, a theory that "...financial markets cannot possibly discount the future correctly because they do not merely discount the future; they help to shape it. In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect."

In other words, markets can be manipulated at the right time by creating "dynamic disequillibrium." The theory was put into practice in 1992 in a manner that collapsed the European monetary system. In 1996 and 1998, the same principles were applied in response to the Asian currency crises.

It appears the timing of the Kanjorski-described bank run of mid-September 2008 was applied to create dynamic disequillibrium, and it succeeded spectacularly. By creating a cascade effect that impacted the American economy, the market manipulator succeeded in creating a situation that directly led to – dare we say it – regime change in the United States.

One man – a person found guilty of insider trading and who, according to BBC News, “is widely known as the man who ‘broke the pound’, after helping force sterling out of Europe's exchange rate mechanism in 1992â€

While George Soros may be guilty, I equally blame Hank Paulson for coming out and screaming about the mess we are in financially, while laying little blame on our penchant to sell Treasuries all over the world, and borrowing where generations are liable for interest payments. So the rest of the world is looking in their vaults what they own from our borrowing binges and realize they may never be paid interest or even repaid the principal, because the principal is guaranteed by the federal government depending on tax dollars brought in. And with more and more Americans losing jobs, anyone that can add and subtract can realize that full faith and credit of the US government is also shrinking in value.

I actually thought that a few weeks ago. He is a real piece of trash. Sold short after Sept 11 '01. What a patriot. It always seemed too coincidental for me to believe it was not accidental.

markets can be manipulated at the right time by creating "dynamic disequillibrium." The theory was put into practice in 1992 in a manner that collapsed the European monetary system.

Interestingly, The Treaty of Maastricht, which established the European Union, was signed on February 7, 1992.