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Originally posted by tiso_us
I think we should demand to know who it was that was drawing this money out if this is true.
I have a hunch it was the Federal Reserve that did it since it's their coffers that was empty. We will probably never know.
I don't know what to think anymore. I really don't know who there is to trust in our government. The deeper I dig into it, the more it disgusts me.
It does make you wonder which story was the lie. Or if they both are. At a minimum, one of them HAS to be a lie, at worst, they are both lies. While it is entirely possible that they did conceal the "run on money markets" to prevent panic in the streets, until we find evidence of this draw down we have to consider that this is just a new and improved line of propaganda to make us swallow the bitter bailout pill.
Eight Major Undersea Internet Communication Cables Cut in 2008: We Live in Interesting Times
In early February 2008 at least five major underwater Internet cables were cut in just a few days, sending large portions of the Middle East into communication blackout.
Two days ago, on 19 December 2008, we learned that three of the four internet sub-cables that run from Asia to North America were damaged ... "Industry experts told The Times that two sub-sea cables went down just off Alexandra, causing the mass disruption. It happens to a single cable typically once a year, and companies have developed the fail-safe of redirecting traffic to a second cable should this occur."...
I found this last statement by “Industry experts” to be the most telling bit of information from the above news. What are the odds of eight Internet cables accidentally being severed in one year when it “happens to a single cable typically once a year”? Extremely unlikely would be an intelligent guess.
I agree. It's pretty much to the point where all we can do is sit and watch it all happen. I don't think it can be stopped.
Bernanke has invoked emergency authority and more than doubled the size of the Fed’s balance sheet to $1.8 trillion to combat the worst credit crisis in seven decades. His moves have prompted concern that the central bank is encouraging excessive risk-taking, distorting pricing in financial markets and jeopardizing the Fed’s independence. The Fed hasn’t disclosed many of the assets and participants in its programs.
“It does not seem to me healthy in our democracy for the amount of power that is now lodged in the Federal Reserve with very few restrictions to continue,” said Representative Barney Frank, a Democrat from Massachusetts and the committee chairman.
China Needs U.S. Guarantees for Treasuries, Yu Says (Update1)
Feb. 11 (Bloomberg) -- China should seek guarantees that its $682 billion holdings of U.S. government debt won’t be eroded by “reckless policies,” said Yu Yongding, a former adviser to the central bank.
Since every bank transaction should have an electronic "paper trail" as it were, you would think that they already KNOW exactly who was behind it.
Furthermore, ask yourself this question. Since ALL money market OR money market mutual withdrawals OR transfers are recorded, every single penny of the $550 billion has left an audit trail, which includes exactly WHO made the withdrawals or transfers, and WHERE the money was being transferred to, WHY has a simple investigation not determined the "who, what and where" of the transfers?