amazing !! a non-political post from the twig guy

I listened to a broadcast on the radio yesterday as I returned from High Point during which a re-broadcast was made of a Pennsylvania congressman speaking on C-Span about the situation that occurred September 16. You might recall that Bernanke et al rushed to the White House late that morning and asked the Pres for something like $700B right that screaming minute. You might also recall that they got it within an hour and everyone walked out, Reid, Nancy, Schumer, the whole gang from both sides of the isle, refusing to say a word.

In this C-Span interview the PA congressman explained that the FED had been doing their usual monitoring of the banks that morning and had seen over $550 BILLION dollars being withdrawn WITHIN AN HOUR OR SO. They freaked, and rightfully so, and tried to dump cash into the system, about $150BILLION, but soon realized that wouldn't plug the hole. That is when the phones started smoking and the meeting was held.

It was either print the money or watch the world economic system go up in smoke before the day was out.

It didn't look like any single individual or even a group of individuals could have done it, and certainly not a whole hoard of moms and pops rushing to the window to get their money just because BHO had said something on the campaign trail.

The consensus was that some foreign government had cashed in some of their chips. The European systems never did show up an unusual expansion of currency so the only folks left who could have done it was the Chinese. IMHO, if in deed they were the cause, the Chinese were sending a signal, loud and clear, that they could destroy the US and therefore the rest of the world in a couple of hours without firing a shot.

Other than this single congressman, I have heard nothing more about this, but if it is true, and I can't see why it wouldn't be, the Wal-Mart supplier really does own us. Being such a sensitive issue it might also explain the refusal to tell us where the money went that came of the meeting.

It might be interesting to start looking very closely at how the BHO folks have to deal with "observable" relations and demands from across the Pacific.

Comments?

Jack

Just posting an emailed response from a friend to whom I sent a copy of the above post. His obvious first take is that it is unlikely that there would be an untraceable action without the FED knowing exactly who it was. Then a little later in his post he makes the point that we have been waging economic war on the Islamists so why would anyone think that they wouldn't try to do the same to us. Perhaps it was not the Chinese.

My friend obviously tries to gather information for a broad range of sources when it comes to broadcast media. I for one have not been able to stand Dobbs for a while, but I recently had cause to listen to him and was surprised at least a little to see him in a more calm state. Rush has worn me out. Not that I disagree all that much, but his delivery is pretty close to a cup of black coffee with chicory and I like a little cream with mine. :-)

Jack

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I'm getting so that I don't listen to much on the radio except Rush, Lou Dobbs, and maybe a couple others.

The media is full of so incredibly filled with partisan political propaganda on one side and people trying to create a panic to create volatility for profit on the other side and then people repeating distorted versions of same that I find it disturbing to say the least.

As a result I try to do all my own research, well looking up primary sources is more accurate description. I find that things are not so much worse than other recessions in recent years. We have a strong, resilient economy and we will get out of this probably sooner than later.

I have heard something about big withdrawals, could be our enemies, could be currency traders, who knows?

The operations of the Fed and Treasury are public knowledge, I even saw a listing of how much TARP money went to which financial institutions, $300B or so anyway, I ran across it looking for something else and didn't make a bookmark that I remember. I think all the TARP money is accounted for. At one time it was not all spent. The US has been using financial warfare against the Islamists, why wouldn't our enemies use it against us. Could just be that news leaked out and a bunch of people decided to act on the news at once.

I have signed up for the free daily Rasmussen poll results. He gives reassuring polls about the wisdom of the American people and asks questions in such a manner as not to skew the results, as far as I can see.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

I think our main concern is what is in the spending part of the stimulus package. One person said that much of it was to be spent in 3-4 years or more. I think the first 6 months, maybe a year are important to have spending stimulus and tax stimulus for several years, we may be on the road to recovery after as little as 6 months to a year.

One good thing about this whole affair is that people are going to see just what the current Dems stand for and what their methods are. I think there is going to be a BIG house cleaning in two years. Who knows where the Chicago nonsense will lead. It sounds like they may have something on the Blago - Sen. Burris connection. If Burris is crooked, we may get an elected Senate replacement for Obama - could turn out in the GOP's favor. The exorbitant price of a bullet train to Vegas will be worth millions in GOP propaganda. Many transit systems run budgets 10x the ticket plus advert. revenue. That means if you pay $1-$3 for a ticket, it costs someone $10-30 per ride one way. Last I saw, the DC system and the NY subways were at break even.

Enough for now. T.

Just posting an emailed response from a friend to whom I sent a copy of the above post. His obvious first take is that it is unlikely that there would be an untraceable action without the FED knowing exactly who it was. Then a little later in his post he makes the point that we have been waging economic war on the Islamists so why would anyone think that they wouldn't try to do the same to us. Perhaps it was not the Chinese.


Very plausible considering the timing and it's influence on the election.