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Bank calls for "Nationalization" of banking systems in the US, UK and Europe

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posted on Jul, 18 2008 @ 01:28 PM
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Bank calls for "Nationalization" of banking systems in the US, UK and Europe


www.telegraph.co.uk

Bridgewater Associates has issued an apocalyptic warning to clients that bank losses from the worldwide credit crisis may reach $1,600bn (£800bn), four times official estimates and enough to pose a grave risk to the financial system.

The giant US hedge fund said that it doubted whether lenders would be able to shoulder the full losses, disguised until now by "mark-to-model" methods of valuing structured credit.

If Bridgewater is anywhere near correct, governments alone have the wherewithal to rescue the system. This would mean the de facto nationalisation of the banking systems in the US, Britain and Europe.
(visit the link for the full news article)


Related News Links:
news.goldseek.com
www.financial-plann ing.com

Related AboveTopSecret.com Discussion Threads:
Ron Paul: "Some Big Events Are About To Occur"




posted on Jul, 18 2008 @ 01:28 PM
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Aren't these banks the ones that CREATED the problem in the first place?!?

Of course, to create the problem then come up with the solution would guarantee that they would get what they wanted in the first place. Can't say I didn't see it coming.

www.telegraph.co.uk
(visit the link for the full news article)



posted on Jul, 18 2008 @ 01:34 PM
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why do you think they created the problem?


Robert Gillette was quoted as saying that the Illuminati ultimately intended to “establish a world government through assassination, bribery, control of banks and other financial powers, the infiltration of governments, and by causing wars and revolutions to move their own people into positions in the political hierarchy.”



posted on Jul, 18 2008 @ 01:39 PM
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The process is already well underway.

Once your mortgage is owned by the state they won't just foreclose and throw you out in the street, they'll put you in debtor's prisons.

That's what the camps are for.

.

[edit on 7/18/2008 by Gools]



posted on Jul, 18 2008 @ 01:54 PM
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the problem-solution thing is from the Hegelian thought model (i think)

but the choice that is in front of us is to go with a fascist economic model
or a banking system following Sharia law.

i forsee the fascist model, with the Federal Reserve getting the nod,
so there is a 'controlled chaos' and a manageable degree of fraud built into the new economic system,that central planning will permit & encourage.. for the ocassional sacrifical lamb / bread-&-circus dynamic
the masses feel justifed in seeing



posted on Jul, 18 2008 @ 01:57 PM
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reply to post by Gools
 


sure am glad i never jumped in on the huge housing boom here in az. Im still a rentor. Ill send care packs to those that get arrested though... well only a couple. I dont wanna deplete my stockpile



posted on Jul, 18 2008 @ 02:00 PM
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Meh, it seems to be working ok for us up here in Canada. It helps me sleep better at night knowing that my money is secure and that tomorrow my bank won't be out of business.



posted on Jul, 18 2008 @ 02:22 PM
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reply to post by elderban
 


The founding fathers .. or well, most of them, where highly against a National Bank for some particular reasons...

First, being, with a National Bank there is no "competition" .. essentially you get what interest rate the Fed says you will .. where as right now, at a bank, in my account I could get .2% interest on my money (the bank essentially stealing from me) or I could move my money to various other accounts and get, say, 3.5% interest (not even keeping up with inflation)

Also, banks are not structured for social causes.. they are entities that strive for profits.. any government owned, funded or supported entity that is FOR PROFIT will by all means, be 100% corrupted from the inside out. Senators, Congress people and Presidents will use and abuse the National Bank to exploit it's power.

Deeper and deeper we head into a fully regulated economy.. this is a vital aspect of ANY Fascist society .. so we the people need to decide.. let the men in suits riding in the back of limos decide our future.. or tell them to # off and let their institutions crumble to the ground and suffer the consequences?

As a Nation of non-action, I see a 100% likely hood we head into a Fascist model of society, the Republic will take one more step on the plank of it's own destruction, and we the people will bitch, moan, and then quietly concede that hey... what could we have done?

Complacent people do not deserve freedoms, and they will loose the ones they are lucky to retain. Further proof that Humans as a general public are to ignorant to govern themselves.



posted on Jul, 18 2008 @ 02:22 PM
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So how can all that wealth be lost? Where did it go?

It all existed on paper, I guess. Just some gov't promise to honor a note. Not in the real world.



posted on Jul, 18 2008 @ 02:28 PM
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reply to post by jsobecky
 





tSo how can all that wealth be lost? Where did it go?


Welcome to the world of debt based fractional reserve banking.



posted on Jul, 18 2008 @ 02:37 PM
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Originally posted by St Udio
the problem-solution thing is from the Hegelian thought model (i think)

but the choice that is in front of us is to go with a fascist economic model
or a banking system following Sharia law.

i forsee the fascist model, with the Federal Reserve getting the nod,
so there is a 'controlled chaos' and a manageable degree of fraud built into the new economic system,that central planning will permit & encourage.. for the ocassional sacrifical lamb / bread-&-circus dynamic
the masses feel justifed in seeing


I heard Jordan Maxwell recently cite a passage out of a book or so where he described that the road to fascism is usually based on either a tragic loss in a war or an economic collapse after which a new party rises which claims to fix everything if they get enough power 'temporarily'.

Since Iraq, Afghanistan and perhaps an additional Iran war certainly isn't making progress, I think both could be claimed to be applicable in a few months.



posted on Jul, 18 2008 @ 02:47 PM
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reply to post by jsobecky
 


That's a point I have been trying to get across to people for a long time. The massive sums bandied about, through money betting on money and creative accounting, does not exist in the real world. It's all notional amounts on a computer drive, nothing more. That's a big part of the problem here, the debts are expected to be paid, with interest, and that's where we, the taxpayers and citizens come in.
Decades of financial shenanigans, mismanagement and the financial industry thinking up ever more creative ways of making even more money by betting on non-existent theoretical trends has created the dire situation we now see unfolding. They got to, for the most part, self regulate the industry and as long as the campaign donations rolled in and high fliers made multi-million salaries, they were left to do their own thing.
Now that the bubble is bursting they want to retire to their mansions and saddle the rest of us with the debt. Private profit, nationalised debt now seeming to be the order of the day!



posted on Jul, 18 2008 @ 02:50 PM
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reply to post by Swingarm
 




Originally posted by Swingarm
reply to post by jsobecky
 





tSo how can all that wealth be lost? Where did it go?


Welcome to the world of debt based fractional reserve banking.


So true! If you or I would try to pull that scheme off, we'd be arrested for fraud!



posted on Jul, 18 2008 @ 03:01 PM
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In the United Kingdom, the small and medium banks are being brought and merged into the large corporations such as HBOS and RBS. So, in the future, there will be no small/medium banks only massive corporate banks.

We are heading towards the Italian fascist system in where large scale corporations will dominate the markets and "the little guy" will not exist. The government of the day will support the corporations.

The West is heading towards corporate government.



posted on Jul, 18 2008 @ 03:06 PM
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Originally posted by jsobecky
So how can all that wealth be lost? Where did it go?

It all existed on paper, I guess. Just some gov't promise to honor a note. Not in the real world.


It never really existed. In order to fill the gap, they just printed more money. Money that has nothing to back it up.

That's why the value of the dollar has dropped.



posted on Jul, 18 2008 @ 03:17 PM
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Money is a farce...i want to work to help people and better mankind...not to have a load of paper sheets with numbers on them to prove how good and successful i am as a human being...



posted on Jul, 18 2008 @ 03:44 PM
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Don't foget who helped cause all this trouble, McCain's economic avisor/brainchild Phil Gramm!

The two greatest financial scandals in US history! Thank you Phil Gramm!

We have everything to fear from McCain
THE ENRON LOOPHOLE


But most relevant to those of us outside the US is that Gramm – more than any other figure in American politics – made the two great financial scandals of our time possible, and nearly brought the global economy down with him.

How? Gramm says government regulation of the economy is "akin to communism", and must be destroyed. His first great step towards this goal came in the 1990s, when he championed and pushed through the law that exempted Enron from both government regulation and public disclosure, on the grounds these were "unacceptable fetters on the free market". Enron was his biggest campaign contributor, and employing his wife to the tune of a million bucks.

So thanks to Gramm, nobody was watching over Enron any more. As a result, they embarked on a massive programme of fraud and pillage. After taking over the electricity market in California, they deliberately engineered blackouts in entire cities to drive up the price for power. In a surreal move, Gramm blamed "environmental extremists" – the nearest bogeyman to hand – even after it was proven Enron execs had paid the power plants to "get creative" in turning out the lights.



and the "Mortgage Crisis"



Gramm learned from the Enron scandal – to go further and push harder. He turned his attention (and his fund-raising) to the mortgage companies. Since the 1930s, there had been an unwritten deal in US politics: the government would rescue the banks if they grew sick, but in return the banks had to take the sensible medicine of regulation. Gramm thought this was "crazy": why would banks ever need to be rescued in a free market?

So in 2000, while everybody was riveted by the Gore vs Bush stand-off in Florida, Gramm slipped into a vast 3,000-page bill 268 pages radically deregulating the banking system. A legal textbook later called this "a stunning departure from normal legislative practice"; few lawmakers noticed it was there when they voted. Suddenly, the roles that had been reserved in the US for regulated banks were handed over to a vast network of unregulated financial institutions called the "shadow banking system." They began to offer wildly unsustainable mortgages to the poor at supersonic interest rates. Through accountancy-acrobatics, they then bundled these risky loans into exotic packages of derivative commodities.

All this was only legal because of Gramm's legislative footwork. He swiftly moved on from the Senate to a megabucks job at UBS, one of the banks raking in billions from his changes.

Within a few years, the entire system began to collapse without the support beams of state regulation. Sub-prime mortgages predictably fell apart, with 2 million Americans – mostly black and Hispanic – facing repossession. The state has had to step in with a much heavier hand than before – and even that will not prevent a recession now.

The billionaire Warren Buffet pointed out that Phil Gramm has twice tossed "financial weapons of mass destruction" into the US economy.



So, don't forget who helped bring this crisis on and who just might end up being in charge of the US Treasury if McCain is elected!

[edit on 7/18/2008 by Keyhole]



posted on Jul, 18 2008 @ 03:48 PM
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Infinite:

In the US there is actually a fast move towards "Credit Unions" where bank account holders own a share of the Union.

However, because these Unions are small, they are far more likely to go belly up.. and every single bank on the near failure list is.. either a Credit Union or a small town bank..

They couldn't cope with the losses, as they spread mortgages to far across their own books, and no reserves to help them out..

And since a Credit Union collapsing doesn't make news, has no effect on the economy, they don't get bailed out like the thieves at Watchovia, Bank of America, Citi, Chase, Fannie and Freddie.

And 95% of the American public doesn't know there is a "crisis"

They just know that because the price of gas went up, that's one less milkshake a week for lunch.




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