posted on Oct, 7 2008 @ 10:07 PM
Originally posted by Mean Red Spider
The Web Bot Project said that something would begin on the 7th and continue through the spring. Did I miss it?
The economy is no worse than yesterday.
The debate was a waste of my time.
Perhaps it was something subtle, something that needs time to become obvious. Russia bailing out Iceland could be the tip of a sinister iceberg. But
that's all I got.
I was praying for an anti-climatic day. Perhaps my prayer was answered. I hope so. If not, feel free to shout.
Economy no worse than it was yesterday? DOW closing down yet another 5%, accounting for losses in the hundreds if not thousands of billions. OH and
We have 'pegged' several circumstances which were ongoing at the time of the shift. These are not necessarily proximate causes, but they do provide
the flavor of the moment, and may be guides for the continuing release language that will wash over all of us these next few month.
Russia Buys Iceland 1) the major banks in Iceland had failed. The Icelandic government had rather foolishly, but out of necessity, guarantee *ALL*
bank deposits. This had developed prior to this morning. What occurred this morning was the announcement that the banks in question had deposits that
ran several times the Icelandic GDP. 1.a) Subsequently, *after* being informed that the EU will not/cannot help them, the Icelandic gov't has turned
to Russia for assistance. Russia has agreed to provide the Icelandic gov't with necessary funds of sufficient amount to help them out 'for a few
days'. The language around the Icelandic currency failure went from 'worry' into expressions of 'dire' and 'calamitous' very rapidly early this
EU Splinters 2) a meeting in France this morning of the EU official 'finance ministers' was a dud. It was such a dud as to produce a sudden,
precipitous change in language around the whole of the EU as a context within our modelspace. This single meeting may be the actual pivotal point for
the EU as an organization of nation states. Basically what happened is that the EU politicians in the meeting agreed to take actions which are /were
meaningless, such as a 'deposit guarantee' that is now raised, but still is far less than any of the member countries individual deposit guarantees.
Thus effectively taking no action at all. Further it is rumored that the attendees of the meeting expressed agreement with the idea of *not*
coordinating rate cuts with the Federal Reserve Bank of the USofA. This likely will be seen in the future as *the* moment that the EU began to only
crumble back into Europe. (rather than the spectactular Irish vote to kick the EU elite in the crotch). BBC reportedly saying that the "EU is in the
#ter...can someone please flush". Other reports have the attendees of the meeting actually running with their aides in tow to avoid having to face
RBS Clearinghouse 'failing' 3) The Royal Bank of Scotland reportedly, this morning, begun seeking a 'recapitalization' so that they may continue
their clearinghouse functions. The story coming out via rumors is that RBS is/has run into liquidity issues regarding their ability to handle
transactions from other banks. This is also, according to rumor, affecting the currency trades globally. There is now some small substantiation that
several of the governmental agencies approached have 'kicked the problem upstairs' as being beyond their ability to accept. The language within the
articles and rumors of the RBS capitalization issues is decidedly in the release category.
........ It continues on for several other points as well, to sum it up for those who wish not to read, not only is the American economy teetering on
collapse but so is alot of other countries.