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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
 Posted - 02/11/2009 : 21:21:19
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WOW! Go 2minutes and 15 seconds into the video and start listening... Most important is at 2 min 40 seconds to 3 min 30 seconds
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It was about September 15th. Here's the facts, and we don't even talk about these things. On Thursday (9/18) at about 11:00 in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of $550 billion was being drawn out in a matter of an hour or two. The Treasury opened up its window to help. They pumped $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there and that's what actually happened. If they had not done that, their estimation was that by 2:00 that afternoon, $5 1/2 trillion would have been drown off the money market system of the United States, would have collapsed the entire economy of the United States and within 24 hours the world economy would have collapsed.
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Copper Penny Investing
www.portlandmint.com |
Edited by - highroller4321 on 02/11/2009 21:23:22 |
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Electronic run on the banks. Real reason FDIC
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