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What Did Bernake Say They Can't Tell Us?

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posted on Sep, 20 2008 @ 08:31 PM
This can only mean one thing: Jesus is almost here! REJOICE!!!!

posted on Sep, 20 2008 @ 09:51 PM

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****!

posted on Sep, 20 2008 @ 10:29 PM
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.

posted on Sep, 21 2008 @ 12:19 AM
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]

posted on Sep, 21 2008 @ 12:34 AM

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...

posted on Sep, 21 2008 @ 01:18 AM
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.

posted on Sep, 21 2008 @ 01:42 AM
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]

posted on Sep, 21 2008 @ 02:22 AM
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....

posted on Sep, 21 2008 @ 06:04 AM
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
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~


~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]

posted on Sep, 21 2008 @ 08:16 AM
reply to post by St Udio

Thanks for that eye opening, I thought was wondering about that one the people's retirement accounts.

How about social Security, and its upcoming collapse?

Then another point where the money to protect the bad banking industry investment will come from?

I am sorry fur been an economy dooms maker but how much debt can a country sustain until it collapse.

Then we also remember that most working Americans do not even have enough savings in their banks to begin with.

Is this the end of the middle class in America?

posted on Sep, 21 2008 @ 08:50 AM

Originally posted by marg6043

How about social Security, and its upcoming collapse?

Is this the end of the middle class in America?

entitlements like social security are outside this massive program,
i think it and medicaid will be getting along as they have been for years...

i expect the Treasury will create new money for this $700Billion monster
which should be inflationary in about 3-4 years

the 'middle class' will be defined by a new standard, as the ill effects of these various bailouts filter into;

the bond markets, various mortgage holder balance sheets,
banker + broker balance sheets, and the multi-Trillion mortgage related derivitives that are seemingly not yet being addressed in this $700billion package---which still needs an 'Administrator' !

i reckon those fortunate to be working... will be grouped as 'middle class' in the near future.
One's 'take-home-pay' will be dropped as a Standard,
the new model middle class might just be the persons obtaining the maximum ration allotments ?!


posted on Sep, 21 2008 @ 12:00 PM
Indeed what better way to justify rationing... imminent financial collapse staved off by nationallization of the banking system only to be nearly retriggered by dangerously low emergency reserve supplies and some external threat.

posted on Sep, 21 2008 @ 02:36 PM
Oh and to add I like the bit on social security, because the driving rhetoric over the last decade or so is that the people now need to not look forward to social security, the boomers will possibly be the last beneficiaries of that program etc..., what about people that are almost at retirement that may have planned on selling their home as part of their nest egg, but now will need to rely on social security because they will not regain home value they counted on for years and year, the prevailing rhetoric from experts and financial planners are that people still working and contributing money now should 1. save money(how with a negative savings rate and low interest being paid) also 2. by investing in your 401k, (well I see red in that) but it is supposed to be long term but chicken little says there is no tomorrow? also what does someone do with that little statement from the social security administration that for example might have 50 or 60k itemized that the government is holding that someone has worked hard and put in 20 or 30 years of contribution, but all the whole time the government says don't count on it, what will happen if everyone goes and digs up their statement of contributions and demands their own money that actually has been accumulated from their hard work???? in a time like this nothing is out of the question.

[edit on 21-9-2008 by phinubian]

posted on Sep, 21 2008 @ 05:54 PM
reply to post by marg6043

I would like to firstly say congratulations to those who elected those idiots to congress. I am not American and do not know how congressmen/women are elected to congress. But if they are directly elected by the masses then I guess you get what you deserve. However if they are elected by those already in power then it will be a case of "jobs for mates" and by electing dumb mates they are ensuring their own power status. Where are those supposed "Harvard or Princeton" graduates and during their campagning their experience in running the country. I think we can all earn from this who wants to elect Sarah Palin...

Not very constructive...but true.

posted on Sep, 21 2008 @ 06:03 PM

Originally posted by 2stepsfromtop

Sarcasm begins here (see 7 for quote: Paulson)
(Reply: Pelosi) You mean we would have to mingle with the citizens again?
(reply: Bernanke) yes you would, and they will be quite angry with you as well.

I think Pelosi and the rest of them are right this very second trying to determine the location of Cheney's undisclosed location so they can join him. Hope he has enough provisions for all of his guests!

posted on Sep, 21 2008 @ 10:42 PM
Probably an ultimatum from the movie, SPEED.

Keep this gravy train running above 10,000 or everything explodes.

posted on Sep, 22 2008 @ 12:50 AM
I think the best protest that the american people don't want this bail out is for everyone to not go to work. Shut the country down. Non-violence. This rich guys need to use their own money to get themselves out of this. They have it they just want their cake and want to eat it too.

posted on Sep, 22 2008 @ 01:17 AM
reply to post by frivolouschick

Um, in times like these I need all of the money and job security that I can get. I don't want to jeapordize my family by not showing up to work. I understand what you are saying, but I won't be joining in.

posted on Sep, 22 2008 @ 01:28 AM
Seems to me that this is another example of the world's most powerful waging monetary war. Didn't Rothschild have a spy that told him that Napoleon lost the war so he told England that he had won? Didn't this send stocks down 95% and then Rothschild goes and buys them all up? I think someone is intentionally trying to crash our markets so that America can be bought up. History always repeats itself and it has worked in the past, why not now?

I am trying to figure a way out of this. Perhaps the American people having a "lightbulb moment" BEFORE the collapse could assuage it but as a previous poster stated that we are too busy watching American Idol and ordering Big Macs.

I took the red pill. I didn't like what I found but at least I know the truth. I have tried to explain so much to just a few of my closest friends and they can't accept it. They WONT accept it. It is impossible to them to comprehend that the government does NOT have their best intentions at heart. Why am I the only person that I know IRL that feels this way? I feel like a weirdo that should be wearing a tin foil hat.

posted on Sep, 22 2008 @ 01:33 AM
reply to post by SuperSecretSquirrel

I feel like a weirdo that should be wearing a tin foil hat.

Welcome to the club. It is really weird to see other people shrug this type of news off or simply ignore it.

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