posted on Sep, 27 2008 @ 06:11 AM
There seems to be a couple of pressing reasons for the panic in Washington.
The end of the USA financial year is on Tuesday (30th Sept.) USA banks will not be allowed to trade after this date unless they reveal ALL of the
previously hidden losses and "make them good"
The Federal Reserve Banks are collectively bankrupt and cannot reconcile their own books by this date.
They need to create another illusion by coercing the government to agree to a 700Bn USD "bailout", but the Government does not have ANY MONEY, the
Government borrows the money FROM the Federal Reserve, this bailout BS is actually an authorisation for the Federal Reserve to BORROW another 700Bn
Problem is that NOBODY is willing to LEND the USA any more cash. The USA can't repay it's current debts absent the promised War on Iran with it's
subsequent LOOTING of the IRAN central bank's gold and theft of Iranian Oil.
Martial Law would have provided sufficient distraction away from these mundane matters of financial accounting.
Unless somebody actually agrees to lend the USA this 700Bn USD, it is nothing more than a pipe-dream and accounting trick that makes the FedRes appear
to have balanced books, which it will not unless it has managed to mug another sucker to lend it this sum of cash. The USA treasury certainly does not
have a cash-pile. The treasury borrows what it spends from the FedRes.
So what you have is an illusion, the FedRes will claim that it has been bailed out by the treasury, while failing to point out that the treasury
usaually get's it's cash from the FedRes. Any Bill agreed by the government is nothing more than "permission" to BORROW more cash from other
Basle II has been adopted by all other countries except the USA. If the USA is not complient with Basle II by Wednesday (1st Oct 2008) then the USA
will be EXCLUDED from the global banking network - it will simply be disallowed from all international banking operations - period. The USA has
delayed and avoided Basle II compliance since Jan 1st 2008 but is now realising that it can no longer avoid the inevitable - hence the massive panic
China knows this very well - hence the Chinese Government placed a ban on ALL of it's banks lending ANY MORE CASH to the USA. The cash cow just
stomped on the head of the FedRes.
There are now serious moves towards a Gold/metals backed global financial system with each participating major country issuing new currencies that are
backed by precious metals. The dollar is dead outside of the USA.
Now, IF the USA has ANY gold in the vaults, it too can participate, but what are the chances of the USA Bullion Vaults containing anything of value ?
(other than a pile of IOUs from previous occupants of the White House).
USA - You have been ROBBED and the thieves are trying to mug you again.
Interested to know what Paulson's view of the DERIVATIVES MARKET is, some observers have quantified this pile of worthless paper at 500 TRILLION
Dollars - with ZERO real collatoral to support this fantasy.
DEBT FORGIVNESS (starting with ordinary people's debts) is the ONLY way to get things moving again, along with a tamper-proof metals backed currency.