Meltdown 2008
 

What Really Happened

 
Jim Kirwan
9-17-8

The conspirators of Jekyll Island finally got the Meltdown that their secret little meetings were created to achieve. The story is called “The London Connection” by Eustace Mullins, and it is about how “The FED” was very secretly created. (1)

What am I talking about? The Federal Reserve Bank is not “Federal,” it is a privately held central bank; one of the twelve international private central banks that now control the money supply for the planet. The recent events that have “hit” the United States, were planned and carried out as part of this takeover that was the reason the FED was created in the first place.

When the so-called government asked the FED to step in and takeover AIG, they were actually inviting a private bank (masquerading as part of the Federal government) to take 80% of the targeted Insurance giant’ and in exchange the Fed decided to dump the shareholders and save the gamblers that created this mess in the first place. So the “banks” will get the profits and the bailout while the public gets the shaft—again!

Washington Mutual and Wachovia are both up for sale and Morgan Stanley is “having conversations,” as of tonight! This financial tsunami is just beginning, and the key player is still wearing its mask that is intended to disguise its true purposes!

The real problem with all of this is that most Americans are still unaware of the true nature of the Federal Reserve Bank and how it came to be called by that name even though it prints our money; it is still not a part of the Federal Government!

On Democracy Now this morning:

As of this morning” "The unprecedented run of events has altered the shape of Wall Street and brings the total amount of government rescue efforts to stabilize the financial system and housing market to about $900 billion."

NOMI PRINS: “In AIG and in Lehman and with Merrill and every other company on Wall Street that has faltered or is faltering, it’s about taking on too much leverage and borrowing to take on the risk and borrowing again and borrowing again, twenty-five to thirty times the amount of capital, the amount of money that they had to basically back the borrowing that they were doing. Human regular borrowers cannot do this. This is something that is an item only of the banking industry.

And not only was all that borrowing happening, but there was no transparency to the Fed, to the SEC, to the Treasury, to anyone who would have even bothered to look as to how much of a catastrophe was being created, so that when anything fell, whether it was the subprime mortgage or whether it was a credit complex security, it was all below a pile of immense interlocked, incestuous borrowing, and that’s what is bringing down the entire banking system."

"You had at the beginning of the show, McCain saying that this is the result of fraud and incompetence. The government has now bailed them out. But by bailing them out—Wall Street was coming to terms with the bad debts. When Bear Stearns went under and when Lehman Brothers went under, this began to wipe away the bad debts. And when the debts exceed the ability to pay, there’s only one thing any economy can do, and that’s wipe them out.

Instead, the government is trying to keep the fiction alive. And what Paulson did yesterday, in bailing out AIG, was to try to lock in whoever is the next president not only to further bailouts of Wall Street, ostensibly to protect the public money, but to make it impossible to write down the debts of the four million homeowners that are expected to default this year, impossible to write down the debts of companies that have issued junk bonds, impossible for the country to get rid of this excess of debts that can’t be repaid. And you’re having really a war now of creditors against debtors. And this is what Wall Street has been preparing for. It needed an emergency to do it. It’s really not an emergency at all. This has been building up for many years. Everybody expected it. And breathlessly now, the Secretary of Treasury has done it."

MICHAEL HUDSON: "The government has no adequate statistics on what the value of real estate is; what the amount of debt is, because if it did have statistics - it would show that the volume of debt is far in excess of the debtors (ability) to pay and when you have that, you have to do something about it!

Graham (Senator Phil Graham, McCain's top advisor) has said 'don't collect statistics because if you know how these guys are making money they are going to pay taxes on it; and if you don't look at what they're doing - if you let them do it through offshore vehicles - and you let them all bury everything then they're not going to be taxed and that is his (Graham's) constituency: Untaxed, financed and then to shift it all to labor and industry. (2)

The major media outlets are minimizing the costs (lying about the true costs), and attempting to paint this as just another two minute story. The world markets are reacting, Russia’s exchange did not open today because it lost 17% of its value yesterday, and the rest of the planet is beginning to reflect what is going on here because the central banks are controlling what is beginning to happen everywhere. (3)

If this outrage doesn’t get the attention of all those slumbering yuppies and yahoos in America that can’t be bothered with “politics” then maybe they ought to begin sleeping in their coffins so that when the time comes their loved ones can just nail the lid shut and be done with it! Remember, according to McCain ‘this election is not about issues, it’s about personalities.’

I don’t know about you but between the eight years of illegal wars that have killed millions of people, the total failure of the thugs in power to control any aspect of this government or our policies anywhere – hell they can’t even run rescue efforts during national disasters, just ask anyone that’s been affected—plus the fact that they have yet to keep a single promise they ever made to any of us about anything: So “let’s not talk about the issues,” let’s just ignore politics a bit longer until there is nothing left to discuss—the Meltdown will take care of everything else. . .

kirwanstudios@sbcglobal.net

     
     
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