One minute the banks had ‘loadsamoney’ and the next we were asked to shovel our pennies into their empty coffers faster than a stoker on the uphill section of the Carlisle line. 

I have long been of the opinion that someone deliberately pulled the rug out from under the assembled banking feet. 

Liveleaks has this fascinating video where Paul Kanjorski of Pennsylvania explains what former Treasury Secretary Paulson and Fed Chairman Bernanke said during the September 2008 closed door session.

The best part is 2 minutes and 15 seconds into the tape where Rep. Kanjorski reveals what Paulson and Bernanke told congress that shocked them into supporting the first $700 billion bailout.

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.

The Treasury tried to help, opened their window and pumped in $150 Billion but quickly realized they could not stem the tide. They were having an electronic run on the banks. So they decided to closed down the accounts. 

Had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawn and the entire economy of the United States would have collapsed, and within 24 hours the world economy would have collapsed.

So who decided to empty their piggy bank? They must know where all this money was being transferred to, why are they not telling us, it is our money that is being used to plug the hole. Was this a deliberate attempt to destabilise the West?  

The origin of the phrase ‘pig in a poke’ is to make a risky purchase without inspecting the item beforehand. The phrase can also be applied to accepting an idea or plan without a full understanding of its basis.

Four months after the crisis began we are slowly being told the truth……….

Gloria Smudd
February 22, 2009 at 16:11

So – BUMP

Coco February 13, 2009 at 07:25

Gloria Smudd 02.12.09 at 9:16 pm
Would you like future posts to be IN
LARGE
PRINT?
**********************************************************
Oh
Gloria! Would you? Would you really! This would make my life so much easier
……….. The Spirit is willing …………. but my eye-balls ache so ………… and I have
blurred vision ………… and a head-ache like migraine ……….. All behind my eyes and
above my eyes ………… Do you think I have long to live?

Can I sue my bank and show that they are inplicated in my poor eye-sight
because they have forced me to read small print for all these years …………. and
still robbed me of so much interest and savings.

I want to cite that they have robbed me blind! Blinded me with their
rhetoric. And they have robbed me in daylight to ………… And …….. they didn’t
even wear a disguise or a balaclava like proper robbers.

Just goes to show that they knew they would never go down for it all really
doesn’t it!

The robbing bastards!

Gloria Smudd
February 12, 2009 at 21:16

Would you like future posts to be IN LARGE PRINT?

Did your chum know Piotr Lookinat, by any chance?

Saul February 12, 2009 at 20:44

Next time I’ll read it properly shall I?

Reminds me of the Polish bloke that went for a eye test. The Optician said
can you read that chart please?

To which he replied….read it? I know him?

Gloria Smudd
February 12, 2009 at 20:33

That’s my point exactly, Saul, ruddy good eyesight to see through glass
that thick!

Saul February 12, 2009 at 20:31

He must have good eyesight to be able to see through those Jam Jars.

Gloria Smudd
February 12, 2009 at 20:26

With all this talk of how, with the benefit of hindsight, it was glaringly
obvious to anyone less than myopic, that the current financial crisis could
and should have been avoided, let’s think also of foresight and heed ‘Guvnor’
Mervyn King’s clear and ‘breathtaking’ analysis of what’s to come. It’s going
to be a depression and a deep one at that.

Fancy. A clear vision of the future. Lumme. Let it neither escape us that
Mr King wears glasses with nice thick lenses and, o best beloveds, that may be
the key. After all, you must have ruddy good eyesight to see through glass
that thick, mustn’t you?

So, in future (or, if you prefer, in ‘futures’) don’t think that just
because someone’s a speccy-wearer that he shouldn’t be in control of the Bank
of England – he may just be able to see further than you think.

Gloria Smudd
February 12, 2009 at 16:22

Are you suggesting he puts the socks in soccer?

janes February 12, 2009 at 16:21

You have to admit he looks great in his knickers.

Gloria Smudd
February 12, 2009 at 16:07

Everything is suddenly alright. Beckham has matched Bobby Moore’s England
cap record. Rejoice! Rejoice! Hoo-ruddy-rah.

Gloria Smudd
February 12, 2009 at 00:43

Never in a month of Sundays, Ms Raccoon, would I watch anyone play that
game and never in two months of Sundays would I interrupt my life to watch
‘that ridiculous creature Beckham’. Vain and greedy are the words that spring
to my mind.

Interestingly (maybe) I have been mulling over this week’s spectacular
revelations from the world of finance and the word I have mostly been mulling
is GREED. Greed, often defined as covetousness. Or, for the purposes of this
argument, covetiveness (obs), here defined as acquisitiveness; acquisitiveness
here defined as propensity to acquire; propensity here defined as inclination
of mind.

So I might suggest that none of us are in the least bit surprised if
bankers and traders pride themselves on their propensity to acquire. They may
be a little surprised to learn that we realise it is merely clever language to
describe greed.

Ch February 11, 2009 at 23:25

I don’t think they still use a pig’s bladder anymore, Anna, but ridiculous
it is, yes. Though! I must say that Maman had a lovely evening watching
Germany-Norway, ending in 0-1, but she thinks it should have been 0-2.

Coco February 11, 2009 at 22:58

Have you lot been arrested or run off and left me in the dark? Again! …………
You know I cried the other night don’t you?

I sleep on a pillow made up from Brillo Pads!

My tears have made my face all pinky-coloured …………. and it is still
stinging and burning ………… Aaaaaaaaaggh!

Anna Raccoon
February 11, 2009 at 23:06

Some of us are still here working Coco, but then again, most of us are
probably watching that ridiculous creature Beckham chasing a pigs bladder
round a field somewhere.

Coco February 11, 2009 at 21:25

Talking of mattresses and bedding …………… Does anybody think that these
monied entrepreneurial ones can even lie straight in their beds?

Saul February 11, 2009 at 17:18

A catalogue of hardships..

Gloria Smudd
February 11, 2009 at 17:15

We only had Office World and Rymans.

Saul February 11, 2009 at 17:12

Nails! Uber Luxury! We only had staples.

Saul February 11, 2009 at 17:06

A lumpy mat”””ress! Luxury! We had to make do with a Fag Paper on a plank
of wood when I was a kid.

Anna Raccoon
February 11, 2009 at 17:09

Fag paper! Sheer luxury, we had nails in the wood…….

Gloria Smudd
February 11, 2009 at 16:54

janes – is the national interest in your spelling the same as it was a week
ago, or has it fallen by a percentage?

janes February 11, 2009 at 16:51

OMG my spelling has attracted national interet, just got a message to phone
the Daily Telegraph … my life just gets more and more exciting. No doubt they
wants me to give them all the latest Cornish gossip – or could they be trying
to get me to subscribe to his rag?

Anna Raccoon
February 11, 2009 at 16:59

Is that better Janes? You seem to have a mattress stuffed with
apostrophes now, still beats a lumpy one stuffed with apostates.

janes February 11, 2009 at 16:43

But at least my apostrophes are in the right plac’e.

janes February 11, 2009 at 16:43

Another bloody spelling mistake. It’s my age.

janes February 11, 2009 at 16:42

They do that Saul. They do it to mess with your brain. Don’t let the
bastards grind you down, put your money in your mat”””ress.

Saul February 11, 2009 at 16:34

I deposited some money in the bank, cleverly I made a note of the serial
numbers. I returned a week later and withdrew it, imagine to my surprise that
it wasn’t the same numbers. Obviously they had lost my money and replaced it
with someone else’s money. That’s the last time I use that bank.

Gloria Smudd
February 11, 2009 at 16:22

What you say is true. The money hasn’t disappeared, it’s just being kept in
the possession of those who are used to having it and using it as they see
fit. Where has all this money ended up? Let’s chatter, simple creatures though
we be.

Gloria Smudd
February 11, 2009 at 15:41

So who decided to empty their piggy bank? They must know where all this
money was being transferred to, why are they not telling us, it is our money
that is being used to plug the hole. Was this a deliberate attempt to
destabilise the West?

……………

Boy, oh boy. I have just watched the video and it is remarkably easy to
believe that the invisible throng who possess wealth and power beyond normal
comprehension couldn’t leave their ‘hard-earned’ or ‘ill-gotten’ where it
would be at risk beyond their own interesting risk-management; it is
remarkably easy to believe that ‘they’ relocated their wealth beyond the reach
of the governments and banks who ‘they’ feel may have been tempted to call on
these enormous sums in an attempt to stabilise certain economies; it is
remarkably easy to believe that destabilisation of the West may be an outcome
of, if not originally a motive for, the mysterious electronic run on the
banks. It is also all too easy to believe that if it took place in the US, the
same thing could in all likelihood have taken place in other ‘challenged’
markets and economies. We should be told. But we won’t be.

Follow the money? Follow the monied? Thanks Anna, for this thread.

Anna Raccoon
February 11, 2009 at 15:54

I’m a simple creature Gloria,

If I buy something today, whether a junk bond or a box of chocolates,
which I find to be worthless tomorrow, then I know who I bought it from, and
who had my money.

I know that money still exists, it’s just that I don’t have it.

I have never understood why there hasn’t been more ‘chatter’ regarding
where all this money ended up.