posted on Oct, 24 2008 @ 08:19 AM
You know I've been thinking a lot about the current global crisis & the more I think about it the more I am sure it has all been set up for a big
Think about this: I put up a post a while back about why the major banks are in trouble & on the verge of collapse, & the single defining point that
set off this whole chain of panic & dramatic falls in the stock markets, bankruptcy (in real terms) of Iceland, etc was when AIG were downgraded from
That caused banks to suddenly be in breach of covenants, to be faced with huge losses, & for the governments around the World to have to start pumping
money into them to keep them solvent - & also destroyed confidence in the banks & the economies around the World.
However, the people at the top aren't stupid (alright, they are), they knew what was happening & what was going to happen if AIG were downgraded, so
instead of letting that happen why didn't they quietly agree to underwrite AIG & confirm that to Moodys, then AIG would still have been triple A
rated, & non of the rest of it would have happened.
If the US Govt had done this instead, then there would have been no need to pump money into the markets, & in the long run it would have probably been
much cheaper - the lack of panic would have saved Trillions being wiped off stocks, would have stopped the credit freeze, would have kept the banks
operating freely, & wouldn't have exposed the tax payer to what will almost certainly be a total loss.
Don't get me wrong, I acknoweledge that there would still have been underlying problems, and I don't think that the greed of the people who got us
here should go unpunished or be without consequence, I don't really agree with the government interfering at all, but the way that it has been
allowed to play out will have severe repercussions for all of us.
It will now play out with the biggest & most blatant transfer of assets that the World has ever seen, with most people losing virtually everything
that they have & needing to work until they drop since they will have no pension or other savings that are worth anything.
If you think about it, it just must have been planned - it was so easy to stop it from getting this bad, & if its obvious to me & you then you can be
darned sure that it was obvious to those in power too.