This article shows us the immorality of making money from just moving money, then urges us to sell short. Maybe the millions of people who have made a good living off of not producing any goods or services should be the ones to blame.

ex Fannie Mae executives

FRANKLIN RAINES Obama Campaign Chief Economic Advisor

TIM HOWARD Economic Advisor to Obama

JIM JOHNSON Senior Obama Finance Advisor

coincidence?

or plot?

[edit on 023131p://bFriday2008 by Stormdancer777]

Finally, Starred and Flagged!!

Being a former banker myself in canada I,ve been trying to get the media, CNN, lou dobbs etc. anyone to start looking and discussing the G7's Basel Accord I & II seriously. These accords have been in the making and implementation stage for sometime now with no one outside of the affected institutions and even those within being quite hush hush about these accords. I've always seen it as the next step in globalizing financial institutions.

I left banking about a year ago, worked for National Bank in Canada and was noticing being in the mortgage market how backwards this banks lending standards were when comparing them against say CIBC or RBC or BMO. My biggest question was always why are the senior excecs so quite about this major change, what did they know that the average individual did,nt.

Phase II implementation was timely, the new year required all large cap banks to start implementing the new capital requirements. Have you noticed that small cap banks are still lending and active? Smaller cap banks are not required to follow the accord at this point.

As far as I'm concerned this accord and it's 2 phases of implementation so far were worked out behind closed doors. Major media never took the initiative to dig into it and inform the people who would ultimately be affected by back door decisions. Seems to support the division being seen and felt in the world today.

Time for a BIG change to the status quo. This monetary form of life needs to end soon. Another discussion should be started at the grassroots level with a common goal. Establish a new "World Vision" one that would unite all people with a common goal of freeing people from the captivity our current monetary system perpetuates equating essentially to Economic Slavery.

Second goal, free everyone from the incentive based requirement to feed, cloth, shelter and provide healthcare. These in my opinion are basic human rights and represent true needs, not wants, everything outside of these basics are simply "wants".

Every man, woman and child deserves these basics without condition and the technology, resources and ability already exist to ensure this is done.

Got a little off topic there but man, Although I have been watching and waiting for this to happen I was truly hoping this would be the catalyst to get people thinking about the fact that it does not need to be like this at all anymore and start acting to demand change!! We simply need to unite on the basics and go from there.

My small opinion, peace!

Here's more ... by increasing the amount of insured by FDIC from 100K to 250K to stop the silent run on banks. It now requires those banks/members to pay more to FDIC to insure its customers accounts, meaning they don't have the reserve for loans.

Talk about between a rock and hard spot!

Now the credit card companies are re-evaluating their customers debit to limit ratios ... and if they notice the customer is carrying a debit ratio to their credit card limit greater than 33% they're going to decrease the limit without notification to card holder.



[edit on 10-10-2008 by Skydancer]

Originally posted by Teeky
Okay besides the great info giving in this post. Does anyone else sense that the whole Financial Crisis is a complete fraud? And when I say fraud I mean like totally made up like 911 so that the powers that be can excute some other huge plan? Something isn't right. It's like when we were forced to watch Britney or Paris every night to distract us. But Maybe I'm leaning too much to the conspiracy side.

A complete fraud?
OF COURSE!

Here is what I understand really went on on some peoples minds, some influential minds.

*They offshore the *SNIP* out of a country to Asia.
*Creating unemployed people or simply people soon to be unemployed. (back then)
*They leave you down to almost collapsing, THEN they START offering you LOANS, without checking your financial credentials (if you were good for paying it off)
NOW they have someone to blame for their scheme!
In the midst of everything they can add a bit more profit to their own pockets, why not upset the global status quo while they are almost in the process of hijacking an entire global economy?
*THEY create 9/11, THEY know you will shut up, bow down and continue with your survival, you have loans to pay after all and you indeed have a BIG NEW HOUSE, so everything is well, especially when you see THEY have created an easy way out for you just in case you screw up, you or your children can go serve time on the war for the fatherland across the globe to pay out your mortgages.
*WHEN everything fails (as planned) THEN they bring out the plan for blaming YOU! YOU the irresponsible, YOU the lazy, YOU that cannot be trusted.

The plan might be to shift the public opinion to think that in order for the establishment to survive they have to handle YOU and your honest demands, for food, education, and jobs with extreme prejudice.

Now after their efforts to label any number of the populace as potential terrorists, succeeded..
They have to label you untrustworthy and your honest demands a potential threat to global economy.

One more step towards a One World Government, one step at a time. A permanent boot stuck in the face of Mankind.
Demanding freedom, illegal. demanding food, illegal, demanding, education, illegal, demanding jobs, illegal. It can't get more simple than that really.

[edit on 10-10-2008 by spacebot]

Great post.

I didn't know the enormity of the fraud committed by AIG.

I wonder how much of the economy was built up because of this scheme but it is gonna get ugly when all of it blows up.

The reason Why the banks are dropping like flies is because
the present regulations were not strictly enforced.


the gov't took a Blind Eye approach to the whole banking industry...
for the love of the taxes the banking system could provide,
along with the contributions the bank industry & individuals sent to politicians.


a bunch of mutual back-scratching was going on for decades!

~~~~~~~~~~~~~~~~~~~~


now, it's a matter of where we go from here.
the weekend meetings of: the G-7, the World-Bank, and other 'rules makers' will surprise the world with a bunch of new rules on how banks will operate...

independent banks, will be out of the Central Bankers loop
all USA member banks will be regulated by a Fed/Treasury, with a more powerful SEC as the enforcement agent.
Globally, all national Treasuries will back up their currency with 5%
in Gold/PM reserves. (Reserve currency is exempt from this rules, so it may be freely exchanged between nations for trade payment)

Beginning this weekend there will be initiated a new Order in Finance, whereby national treasuries & banks will generally operate closer to Islamic law/Socialism than with the former freewheeling, free-market capitalism...


gold & tighter control & what may ammount to rationing...
that's what to expect after the Monday holidays in both the USA & Canada

[edit on 11-10-2008 by St Udio]

A revealing story that at the end tells you to buy gold and it just so happens to be posted on a site that ......SELLS GOLD?

Originally posted by St Udio
The reason Why the banks are dropping like flies is because
the present regulations were not strictly enforced.

present regulation being enforced does not seem to be enough

allowing banking instituion's to be leveraged 30-50 X 1 is the main culprit!

when they have 50X debt then capital, what happens when the outstanding value of the debt falls 10%? = there wiped out.

This was the last gasp of the free market capitalistic model in the finanical system. They deregulated because it would add a few years to the GAME! and on top of that they already knew they had gained more and more leverage over Washington and the economy that by extending the party in such a Careless greedy way (which they knew would end in a crash) from falling house values (DUH!) that they were too important and the gov't would bail them (the big boys) out and they would consolidate the power further. From a business standpoint it was a NO-Brainer.

Read that again peeps

The dwindling minority in honorable gov't is being strangled by the tentacles of this "establishment financial power/party and there MSM cheerleaders who will try to parrot any number of reason but THE TRUTH for why we are where we are. All they have to do is convince a bunch of people who do not know much about financial markets that this was an "accident" or blame it on "short sellers" or Basel II regulation, they don't care which of those you believe, so long as you don't understand what i posted above, because when you see them as the culprit and the premeditated culprit, you would never allow them to institute the "solution" w/o raising HE%^. The solution will be laying down the infrastructure even further for a FASCIST Authorotarian ONE world Gov't in my current opinion.

People have been conditioned to stop there critical thinking about subjects like this , especially when certain "slide" words are mentioned like "conspiracy". The greatest trick the devil ever pulled was convincing the world he didn't exist, and yes i'm using this as a Metaphor, because regardless what you think of organized religon's short comings, those at the "top" work tirelessly to keep us in the dark, they have there think tanks and MSM cheerleaders who pull the wool over most people's eyes, they have developed such a large encompassing manipulative system that most people toe the "establishment party line" so they can feed there family, meet there debt obligations and on top of that the morals of society today, leave people caring more about getting drunk or making the most $ that they are apathetic until the amount of economic pain they face is too large (and then there anger is usually diverted away from the real culprits or marginalized thru food shortages .....and the most frustrating and insulting thing among those that get it is... that even the most astute intelligent among us have difficulty wrapping there head around it and most people insult those who put in the time and do this out of an intention of caring!

P.S the next 3 letter abbreviation we should watch is the LOC market

Letters of Credit, John Mauldin in his latest writings, talks about that market showing "signs" of freezing up, and this would lead to big problems getting food shipped and food on the shelves, this would be (obviously) very bad. it would be ironic there could be a food shortage, neither from supply or demand , but lack of available credit. could this be used as leverage to get angry people to accept "wall street-downing street's" solution.


[edit on 12-10-2008 by cpdaman]