What Did Bernake Say They Can't Tell Us?

This can only mean one thing: Jesus is almost here! REJOICE!!!!

Originally posted by Rockpuck

I don't know whats going to happen, how it will happen, and I cannot even imagine what the next few weeks will bring..

I think we, people on ats, need to begin preparation for contingency and begin mapping out possibilities and outcomes of the next few months..

"Those who fail to learn from History are doomed to repeat it."



A very recent discussion I had with a colleague centered around the current exploits of my colleague's friend, a gentleman currently attached to the Pentagon, now on assignment in eastern Europe.

My workmate had asked my opinion of Russian President Medvedev's reported response to US Secretary of State Rice's "scolding" of Sept. 18, 2008. In his response, President Medvedev stated thet he has authorized a 25% Increase in Russia's Defense Spending(!) to secure Russia's borders against foreign "incursions".


I noted that 25% was a very large increase, but realized that since Russia currently supplies much of western Europe's natural gas, they probably had the Euros to pull it off.


Which led me to realize that the US, with its faltering economy, foreign (ie.: China) owned debt, and strained military, would be in a highly unfavorable position to counter, or even effectively argue, any "opportunistic" adventures the Russians might undertake.


This, in turn led me to realize that the current financial predictament the US faces is eerily analogous to the economic/political crisis faced by the old Soviet Union 20 some odd years ago.

The Worm has Turned, and now the Sabat (look it up!) is on the other foot!



I think it might be prudent for everyone to "Prepare for Contingencies" like those faced by the Russian citizenry when the Soviet Union encountered Its final days/daze.



One other thing to consider: It has been said that the final collapse of the Soviet Union was At Least hastenedd (if not actually Instigated) by the US, under Ronald Reagan, by forcing the USSR into an intense, financially devasting, arms race.

The defeat was not Military in nature, but Monetary.


Sound familiar?




Payback, as they say, is a B****!

Dont know, but small bank stock is through the roof. I offer TCBK as proof. 18 dollars up in 3 days! Plus I have seen a few more skyrocket. I think it is a case of the small banks eating up the big ones.

This is a hell of a thing for Dodd to say since what he did with his companies (Fannie and Freddie) are what got us into this mess. People like Chris Dodd are the WORST people in the world. That man should be tried and hanged for treason if found guilty. Him and everyone like him. Never before has this country been infiltrated by such corrupt politicians, and never before has the public been so ignorant.

This is an absolute joke that these morons say they didn't see his coming. How out of touch and stupid can they be? They're obviously lying. They CAN'T be this stupid. I pulled ALL my money out of the market 2 years ago because I saw this coming. I threw all my money in CD's in a small, private bank with no ties to large credit companies. My money may not even be safe there. Not that it'll matter if a dollar has no value.

[edit on 21-9-2008 by ChocoTaco369]

Earlier in the week it was reported that Congress was just going to go home, because they didn't have a clue what to do now.

Was congress dissolved (NSPD51) and that is (one) of the things we can’t be told???


...making a call the the folks in the States...

reply to post by ChocoTaco369


Thank God someone bothered to mention Dodd's ties to Fannie and Freddie. I believe he was the guy that received the most in contributions from these "esteemed" institutions.

I can't believe anyone is buying anything coming out of Washington at this time especially Chris Dodd's bad attempt at acting. Had he and much of Congress spent so much energy in blocking Fannie and Freddie reforms 4 years ago because minorities will somehow be hurt because they can't get affordable housing, this mess wouldn't be as nasty today.

Nothing like more socialism today to fix the socialism in the past.

Ok even if Bernanke in Academic circles is considered an expert on the great depression and economics then I would say whatever they discussed is dire if he was in on the discussion with Secretary Paulson, and also I wish someone would go tally up the money injections that the fed has put into the banking system and auctions over about the last two years quietly, meaning whenever you saw the market beginning to tank they (the fed) would inject billions of dollars into the banking system because this phenomenon of low funds for every day banking has been going on for some time with no mention or real complaining, then if you look at each of the last failings of the big investment banks and other banks then the insurance company AIG it has been an emergency situation where if by a certain time in a number of hours they would fail, how is this possible? with book keeping an forecasting why is this always a last minute do or die situation where it has to be solved in a weekend and after 4 on a Friday when it is announced?

I think that this could be the nail in the coffin for the US and World economies, many are saying that inflation is going to go into overdrive and everything is going to get very expensive and the dollar will have next to no value because of all of these funds flooding into the market, I mean if an insurance company that insures banks and investments tanks then this means they have depleted any backstops or assurances of faith in banks that exists and are only temporarily delaying the inevitable complete collapse, I hate to be so fatalistic but I think that if it has come to this things are worse than are being revealed at least imho









[edit on 21-9-2008 by phinubian]

I tend to agree wiht you phinubian...

Fannie and Freddie were just the bow wave... I don't think we're anywhere near the wake of this monster yet. 700 billion even if it's a floating 700 billion can't stop the inertia of trillions of off books and possibly vaporware investments in CitiCorp alone....

i think that a part of the foreboding outlook is the collapse of the only viable part of the financial structure--- the Bond Market


one thing which is going to hasten the total collapse of the bail-out
is the little clause that the Treasury put in the text of the AIG bail-out
agreement....
which will be used as a standard clause in all the forthcoming bailout contracts that will be needed soon.


in the AIG package it states...let my paraphrase from memory ~
the conglomerate can used the value of independent accounts to satisify the debt obligations of the conglomerate.

iow-> in the future, a IRA Fund or a IRA/401k Fund that needs bailed out,
can apply individual accounts to the debt.
so officially, your savings or retirement assets can be seized and sold because of the bad decisions of the corporate elites...the elites that are given the status of Trustee &/or operate the select 'Custodial' enterprises
are able to use our combined account values to pay for that Gov't. bailouts


the sky is indeed going to fall... as redemptions in USA based Funds are going to experience runs & a resulting collapse
~After the 1st one or two reach the bail-out point~




ADD: SOURCE www.321.gold.com...

~in bold Yellow Highlighter~
"The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. "

[edit on 21-9-2008 by St Udio]