It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Inside the Meltdown (PBS Frontline 02-17-09)

page: 1
4

log in

join
share:

posted on May, 19 2012 @ 07:22 AM
link   
I never followed the events of 2008 except for a cursory read of an article or brief news viewing. If you didn't either, I would strongly recommend this as essential viewing for gaining a good historical understanding of not just what happened back then, but what continues to this day.

I don't think it is hyperbole to state that the world stood on the precipice of a major financial and economic catastrophe at the time. You can make up your own mind about that after viewing the video.

It begs the question: What is any different or better about conditions across the financial and economic landscape today? Sure banks, at least in the US, are not holding as many toxic assets as they did back then. Yet what is there to prevent another catastrophe of this proportion occurring again? The trigger being elsewhere, or even a combination of triggers.

We had a lot more accommodating policy and tools to withstand a complete systemic collapse of the global financial and economic system in 2008. I don't think we can be confident that world governments and central banks can afford, or have capability, to prevent the next one.

I never realized how close to disaster we got to. From the video: "That unless you act, the financial system of this country and the world will meltdown in a matter of days." Elsewhere in the video it points out, as history shows, that as the credit markets froze in the US, so too did major problems almost immediately start breaking out across the world, noting Ireland was suddenly experiencing trouble, Iceland had become bankrupt and fast growing China had rapidly collapsed to almost no growth. The contagion was clearly swift and widespread - global in scope.

And here we are today, the world again faced with another threat of imminent financial and economic disaster, only this time likely coming out of Europe. How precarious is the financial and economic situation today compared to that of 2008? The world is in far greater debt. Interest rates are at record lows. Economies around the world are slowing and contracting. Even emerging economies are experiencing trouble. China is slowing and showing troublesome signs.

So how about it hey? Watch the video and consider.





posted on May, 19 2012 @ 08:21 AM
link   
No they don't hold any housing they just hold derivatives to the tune of 72 trillion dollars and the kicker is the banks that do hold it know if it does go down hill the government will pay for it due to deals done to take over fallen banks. When we it slides who knows but what is happening now might just be a precursor to what we will see when prices drop below what people expect for the future.



posted on May, 19 2012 @ 08:58 AM
link   
The thing about the financial crisis of 2008, is that it was played to the public as if it snuck up on everybody and no-one so it coming. Many people saw it coming and played their cards for maximum gain right up until the tax payer had to foot the bill.




One of the things they talked about at the Bilderberg Confernce of 2007 was "pulling the plug on the housing market and the economy as part of their greater globalist plan.

www.prisonplanet.com...


Endgame 1.5: PhD Course In Understanding the Agenda of the Global Elite
Available exclusively to prison planet.tv members next week
Paul Joseph Watson
Prison Planet
Wednesday, November 21, 2007

In the first segment of the footage, Bilderberg sleuth Daniel Estulin lifts the lid on how the Globalists plan to create the illusion of a recovering economy and housing market before pulling the plug and bottoming the economy out after all the suckers have ploughed their money back in.


They knew back as far as 1994 that it was unsustainable, or perhaps was all deliberate anyhow, and the all the Wall Street Bankers and Government were in on it.

In 1994, Brooksley Born tried to regulate derivatives and 13 Bankers ran into Summers office and told them to STOP what she was doing because she could cause the greatest Financial Crisis since the end of World War 2.

Their ponzi scheme would have collapsed to early before they milked it for all it was worth.

www.pbs.org...


"I walk into Brooksley's office one day; the blood has drained from her face," says Michael Greenberger, a former top official at the CFTC who worked closely with Born. "She's hanging up the telephone; she says to me: 'That was [former Assistant Treasury Secretary] Larry Summers. He says, "You're going to cause the worst financial crisis since the end of World War II."... [He says he has] 13 bankers in his office who informed him of this. Stop, right away. No more.'"


These thieves played American's for suckers, and no-one has gone to jail, because they are all in on it. Nothing has changed either, and the TBTF still exist. And the same rats that caused it fund both sides of the political spectrum because they care not if you are Republican or Democrat, just as long as the can buy their man to put in office.


One thing I have learned from this crisis, is to never trust the so called experts that are in the Government, Financial Industry, Military Industrial Complex, or Mega Corporations, because they have a filthy agenda that is not in the best interest of the nation but for they and their cronies.

They have destroyed this country by allowing the trust to be lost in all the rotten institutions that exist here.
So anything these cockroaches have to say about Iran, North Korea etc goes in one ear and out the other.




edit on 19-5-2012 by jacobe001 because: (no reason given)



new topics
 
4

log in

join