Reporter Warns Staged Financial Crisis Part Of Fascist Coup

I guess we can call this "The Revenge of Presscot Bush" he and his neo-facsist buddies have been working for this,now it may indeed become a reality with his grandson as Der Fhuer.

The Treasurer and the Federal Reserve are working out a way to alleviate the problem by selling notes to pay for the debt. The owners of the notes will not have control over the financial industry. Even today, American notes hold value, and there will be plenty of buyers.

This influx of money, likely from foreign sources, will stabilize the economy and allow time for lawmakers to correct the securities and exchange industry and the banking industry to prevent a recurrence. Market stability will begin immediately with renewed confidence in regulators, and the Dow will exceed 11500 by Oct 1. Oil will drop to 95. Gold will level at 785. Your assets will be safe, and your job will be safe.

As a Republican, I am shaken that this fiasco and the savings and loan fiasco have both happened during Republican presidencies, Reagan and Bush 43.

However, I am comforted in knowing that former president Clinton and the democratically-controlled congress were the ones who signed the laws into effect that permitted the present fiasco to happen.

These events show the overall lack of professionalism and patriotism of members of congress, IMHO. The opposite of progress is apparently congress.

reply to post by ninthaxis


You should really listen to Ben Stein. He explains it pretty well. In a nutshell when one of these huge financial companies goes under, it doesent just not have billions of dollars. It needs to have a certain amount of assets to meet all of its needs, but is s few percent short. Its like you coming up 20 bucks short on the rent and needing to borrow it till later. Its not like you have a 250,000 dollar home and owe all 250 grand.

Originally posted by Jim Scott

However, I am comforted in knowing that former president Clinton and the democratically-controlled congress were the ones who signed the laws into effect that permitted the present fiasco to happen.

Finally, someone who knows what the hell they are talking about when placing the blame for this mess. It was Clinton who signed the laws into effect which created this mess. Did you know that Bush tried 17 times in 2008 alone to correct the situation but Democrats in Congress refused to allow him to pass his measures because they were too busy fattening their wallets!?

Here's the press release:

For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

Source: www.whitehouse.gov...

[edit on 23-9-2008 by sos37]

Yep. I agree. Unfortunately, the internet allows posters who are subject to panic attacks to scare the **** out of the average guy. I find it interesting how there are so many with so little faith in the strength of America. We have all, collectively and individually, built a wonderful country that will last many generations and spread peace and freedom throughout the world. I, for one, am proud of the efforts of my family and friends in this effort.

The responsibility for the current financial problem rests first with the regulators, and second with the unethical businessmen and businesswomen who have (1) failed repeatedly to listen to warnings and (2) substituted success for ethics.

We will get through this like everything else. Those who are responsible should be sought after and punished. There is no responsibility if there is no retribution. There is no risk if there is no regulation. America demands responsibility for recklessness, not reward.

reply to post by ninthaxis


If you have been following the stock market, this manipulation has been stewing for years. Google CMKX to find out how the market can be used by the greedy to milk money out of middle to working class investors.

This didnt just "happen"

short selling is a way for the people in control to manipulate the market -- sell it, drive the prive down with dilution and smear campaigns on the internet, buy it back cheap. As far as the actual share, they dont care if it exists!

Originally posted by Jim Scott
Those who are responsible should be sought after and punished. There is no responsibility if there is no retribution.

Are not the ones responsible the ones fixing the problem?

And yes, apparently 'you' built a great country -- with broken health care, tons of homeless and hungry, failing jobs/increasing unemployment and now this mess /sigh

So go ahead and support the Fed printing more and more money, pretty soon I'll be looking for a job in Canada because the Canadian will be worth more then the dollar.

You say that "today" our notes are worth something; but what about tomorrow, or a year from now after we add how many trillions of $$ to the deficit. How long before the rest of the world realizes our money isn't worth anything.

How did the reporter find this out if it is real or not, and it could be a well thought out story. I don't know, I need proof this is really happening as described.

Sounds to me like it's a case of last guy to leave the bar is stuck with the check. And that guy is the american tax payer.

Now the thing that bothers me in this situation is that there are two things happening here.

First is that these guy didn't have any assets in the first place and finally all their credit ran dry. And that's why they need a bailout.

Secondly these guys either embezzled all that money or they gave it to someone to use for something. We need to follow the paper trail to see what is going on exactly.

Third. The housing market really does suck and screwed up everyone.

My money is on number 2.

Franklin D. Roosevelt, president of the United States from 1933 to 1945, described fascism in his 1942 "Message from the President of the United States Transmitting Recommendations Relative to the Strengthening and Enforcement of Anti-trust Laws" as follows:

The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power.

Originally posted by The Revealer
www.prisonplanet.com


[edit on 22/9/2008 by Mirthful Me]

The source says it all as far as I am concerned. Alex Jones takes issue with every last breathing thing. He could find a conspiracy in a 3 Year Old charging him 50 Cents for a Lemonade, when the "Market only calls for a glass at 35 Cents". Also, what is up with the labelling of Right leaning Conservatives as "Phony Patriots"? That is more of a personal attack than anything else. You are either a Patriot, or you are not, simple and plain.

Another misconception which Jones himself seems to be propagating is that the current United States Presidential Administration can in anyway wrest away control of everything. The United States House of Representatives and the United States Senate have far more power on such an issue than any single U.S. President (or his appointees) ever could.

I for one have been a staunch opponent of our current 110th Congress, which has been doing nothing but conducting themselves in a completely vengeful manner. HOWEVER, The House Members are absolutely correct in this case. They want to slow the process down, and have a chance to understand ALL of the fine print and details which compile this new "Bailout Plan". I feel the American people have a right to understand what such a plan entails as well. Why you ask? Because we need to go after these greedy CEO's and Board Members, and nail them to the wall. If we slide this Plan through without any further thought, these Scrooge McDuck wannabe's are going to sail away on their lovely "Golden Parachutes", never to be seen nor heard from again. They need to have the chords to their bailout 'chutes cut for good.

[edit on 9-23-2008 by TheAgentNineteen]

The middle-class is fading fast. This is treason in the day light. You all BETTER call the congress...NOW....and tell them to vote NO...NO....NO
This is black mail.

[edit on 23-9-2008 by merky]

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency. "

THIS is an act of treason and a takeover by this Secretary with TOTAL authority that even the President (any administrative agency) cannot say anything about it.

Everyone BETTER get on the phone to their Congressman/woman and do some screaming and vote this act DOWN.

Originally posted by Jim Scott
As a Republican, I am shaken that this fiasco and the savings and loan fiasco have both happened during Republican presidencies, Reagan and Bush 43.

However, I am comforted in knowing that former president Clinton and the democratically-controlled congress were the ones who signed the laws into effect that permitted the present fiasco to happen.

These events show the overall lack of professionalism and patriotism of members of congress, IMHO. The opposite of progress is apparently congress.

It makes me crazy when people completely flip their opinions and dont seem to notice. No, there were no WMD's in Iraq despite everything we were told, but not one republican friend of mine seemed to care. The message they cared about had apparently moved.

In the same vein, it has been republicans that I have heard as far back as Reagan saying that deficits dont matter and that we need to deregulate as much as possible. It hit an art form in the current administration where Bush has not just worked to deregulate, he has appointed industry lobbyists to almost every oversight organization (fox watching the chickens) and directed that regulatory laws that exist not be enforced.

You didnt give any real details on why the current situation is all clintons fault in your post, but this is my best guess as to what you are talking about.


The Gramm-Leach-Bliley Act
I have seen a lot of people trying to pin this on Clinton, saying he voted for it as president. Take a look at the name, this was a republican bill that overturned parts of the Glass-Steagall Act of 1933.

The Glass-Steagall Act of 1933 established the Federal Deposit Insurance Corporation (FDIC) in the United States and included banking reforms, some of which were designed to control speculation. Some provisions such as Regulation Q that allowed the Federal Reserve to regulate interest rates in savings accounts were repealed by the Depository Institutions Deregulation and Monetary Control Act of 1980. Provisions that prohibit a bank holding company from owning other financial companies were repealed on November 12, 1999 by a bipartisan, conference committee version of the Gramm-Leach-Bliley Act signed by President Bill Clinton

This bill passed on almost party lines: Gramm-Leach-Bliley Act

Phil Gramm is McCains economic advisor and was an author of the bill, this is an obvious republican bill.

The Community Reinvestment Act (CRA)
Despite Clinton strengthening CRA, it originally came into effect in 1977. Over half of modern sub-prime loans come from mortgage companies beyond the reach of CRA. In fact, you may notice that lenders have not pointed a finger at CRA because there has not been a significant default rate for this class of loan.

Conservative economists claim that the CRA encouraged risky lending and the development of the subprime debacle, but this is disputed, as Robert Gordon has pointed out that approximately half of the loans were made by independent mortgage companies which were not regulated by CRA at all, and thus had no government obligation to offer credit to minorities. These companies made subprime loans at twice the rate of CRA banks. Another third of the major subprime lenders had very little CRA involvement.[8] Further, the weakening of the CRA in 2004 was followed by intensified subprime lending.
en.wikipedia.org...

reply to post by TheAgentNineteen


The article never says that right wings are phony patriots he says he got attacked by phony right wing patriots. And yes all right wings are not phony patriots

reply to post by sos37


Sorry my friend. Deregulation began with Reagan. Check it out. Clinton was culpable too. The globalists always have their men in office. Dem or Rep, it makes no difference in the business of globalizing the world.

I'm glad congress has stepped up for the American people and will not pass that bill until there are changes made.

Originally posted by titorite
Dont believe it. The real coup happened when they killed Kennedy. The current situation is just the final fruition of there plans.

And dont trust AJ as far as you can throw him.

For the sake of it I would like to say, yeah. I think Alex Jones is something other than authentic. If you listen to him he does say things that are true, but he says them in such a way that they obviously become a caricature to the uninitiated. I think it's reasonable to imagine that he does more harm than good if you think of him in terms of driving people away.

Originally posted by titorite
Dont believe it. The real coup happened when they killed Kennedy. The current situation is just the final fruition of there plans.

And dont trust AJ as far as you can throw him.

Agreed

Originally posted by sos37

Originally posted by Jim Scott

However, I am comforted in knowing that former president Clinton and the democratically-controlled congress were the ones who signed the laws into effect that permitted the present fiasco to happen.

Finally, someone who knows what the hell they are talking about when placing the blame for this mess. It was Clinton who signed the laws into effect which created this mess. Did you know that Bush tried 17 times in 2008 alone to correct the situation but Democrats in Congress refused to allow him to pass his measures because they were too busy fattening their wallets!?

Here's the press release:

For many years the President and his Administration have not only warned of the systemic consequences of financial turmoil at a housing government-sponsored enterprise (GSE) but also put forward thoughtful plans to reduce the risk that either Fannie Mae or Freddie Mac would encounter such difficulties. President Bush publicly called for GSE reform 17 times in 2008 alone before Congress acted. Unfortunately, these warnings went unheeded, as the President's repeated attempts to reform the supervision of these entities were thwarted by the legislative maneuvering of those who emphatically denied there were problems.

Source: www.whitehouse.gov...

[edit on 23-9-2008 by sos37]

Don't you love the timing of that info coming out from the whitehouse page:

For Immediate Release Office of the Press Secretary September 19, 2008

Upon reading that link i'm largely unimpressed. It looks mostly like brief mentions of the issue without any real action.