One minute the banks had âloadsamoneyâ 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.
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 $5.5 Trillion would have been withdrawn and the entire economy of the United States would have collapsed, and within 24 hours the world economy would have collapsed.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 âpig in a pokeâ 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 truthâ¦â¦â¦.