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September 17, 2008
March 31, 2008
The last days of Bear Stearns
Founded : 1923 -- Bear Stearns survived the Great Depression
July 11, 2008
FDIC Failed Bank List -- IndyMac
Indy Mac = Independent National Mortgage Corporation
September 7, 2008
Fannie Mae and Freddie Mac cease and desist
Fannie Mae = Federal National Mortgage Association
Created in 1938 by Federal gov to socialize home ownership during Great Depression
Freddie Mac = Federal Home Loan Mortgage Corporation
Created in 1970 by Federal gov to socialize home ownership during Nixon, as we left the gold standard
September 14, 2008
Bank of America to buy Merrill Lynch for $50 billion
Founded : 1914 Merrill Lynch survived The Great Depression
September 14, 2008
Global markets dive after Lehman Brothers declares bankruptcy
Founded : 1850 Lehman Brothers survived The Great Depression
September 17, 2008
Government Bails Out AIG With $85 Billion Loan
Founded : 1919 AIG, 18th largest company in the world, survived The Great Depression
September 27, 2008
WaMu files bankruptcy petition in Delaware
Founded : 1889 WaMu (Washington Mutual of Seattle), nations's largest Savings and Loan, survived The Great Depression
September 27, 2008
Wachovia hunts for a merger partner: reports
Founded : 1781, as First Union, Almost as old as our country, and so survived the Great Depression; 4th largest bank
Sept 19, 2008
Guess again who's to blame for U.S. mortgage meltdown
Source: Arabian Business.com
June 12, 2008
Gulf monetary union deal 'more or less final'
September 12, 2008
Will government bailouts spell end of dollar? -- Craig R. Smith
Source: Human Events.com
September 19, 2008
The Party's Over -- Pat Buchanan
September 19, 2008
1929: Deja Vu all over again -- Hal Lindsey
March 19, 2008
Bernanke: Federal Reserve caused Great Depression -- Hal Lindsey
The Smartest Guys in the Room
When the 2003 book Enron: The Smartest Guys in the Room published by New York City based, media-Scribe Fortune Magazine was written, the part about the Enron guys being "smart" was a typical media-Scribe dig at Texas oilmen. Obviously, the New York City media-Scribes were implying that the oil and gas executives of Houston-based Enron were dumb as door knobs. Not stopping there, they accused Enron executives, deep in the Protestant homeland, of being criminals on top of being dumb. By lying about the stability of Enron in the face of a known potential meltdown, according to Pharisee lawyers, these executives knowingly and criminally caused all the poor Protestant Enron employees, that Sadducee-owned Fortune Magazine "cared so deeply about", to lose their entire pension.
Out of this, we got more government regulation. The Sarbanes-Oxley bill legislated ethics. As if fraud was not already against the law. Anyway, in the next section, we will see that Wall Street Sadducee bankers seem to be exempt from Sarbanes-Oxley.
The "real" Smartest Guys in the Room
So now, the shoe is on the other foot, isn't it?
Oil executives are doing just fine right now. But the media-Scribe self-proclaimed real "Smartest Guys in the Room", that is, Jewish New York City Investment Bank Sadducees, are showing America that they are not nearly as smart as they like to brag about.
Nor are they any more ethical than Enron executives.
How smart or ethical can an executive be who does nothing constructive whatsoever, whose only job was to push paper money around, whose total training and career is in the fiduciary management of paper money, and yet then shows he cannot handle his own bank's paper money when his own investment bank goes bankrupt? At least the Enron boys were worrying more about distributing electrical generation power to all of us after the utility deregulation, than worrying about whether or not their financial arrangements for that energy distribution were air tight. At least, Enron officials were not the experts on money, that Lehman Brothers officials were.
Enron did not get any mercy whatsoever at the hands of the Pharisee-own media-Scribe press. But New-York City based Bear Sterns, Merrill Lynch, AIG, Fannie Mae, Freddie Mac, Wachovia and WaMu were all "too big to fail"; They were "too important"; so says the self-serving media-Scribes. Only Lehman Brothers was thrown under the bus, just to make it not look like too much favoritism. Largely, it will be your typical Catholic or Protestant taxpayer who will be bailing out these Sadducee weasels.
Only, all those assets are being consolidated into even bigger banks like J.P Morgan, who will be ever too big to fail. We should be reconstituting the Glass-Steagal act that prohibited interstate banking. Each state should regulate their banks; as they now do with insurance.
Never fear, the Jewish media-Scribes are quick to quote the top federal regulator of our last financial meltdown, who was shown to be not regulating when he should have been regulating:
And BTW, forget about the 100-year-old Wall Street Investment Banks failing that do not make the FDIC list of failed banks, nor forget the largest insurance company in the world having to be rescued that also does not count.)
IndyMac held $32 billion in assets as of late March, according to the government. It has been 15 years since any bank larger than $10 billion in assets collapsed. The largest bank failure on record was in 1984 when Continental Illinois National Bank & Trust in Chicago hit trouble, presaging the savings and loan crisis. --International Herald Tribune (7-13-08)
(TCS: Not mentioned: Lehman Brothers was a failure of only a mere $649 billion in assets; AIG was a slightly larger $1050 billion in assets
Talk about Enron-speak!)
The Dumbest Guys in the Room
Reality is that there were guys dumber than these Investment Bankers gambling with America's wealth. And that dumb and dumber combo would be Congress and the President. Starting with "the first Black President" President Clinton and continuing with President Bush, Congress had not been regulating too little; it had been regulating too much. The Pharisees got into their class warfare mode and accused bankers of being racist. They were "redlining" black housing sections, according to the Pharisee do-gooders. Never mind data from the Washington Post:
You see, Pharisees often wrongly equate the amount of money you make with morality. A black man making $75,000 should have far better morality in the affirmative action job that the Pharisee and Herodian bosses gave him, than the white man he displaced who was now only making $25,000. Perhaps, the white man making $25,000 knows he earned his money; whereas, the black man knows he is a fraud, already proof that he has no morals. And a Pharisee making $300 million has no morals at all, so perhaps Jesus was right, a rich man cannot fit into the eye of a needle.
Will it be another Great Depression or just another World War?
But let me get serious, as this is not at all funny.
Previously, we were worried about the creation of the Euro as a direct currency competitor to the "almighty dollar". In the last five years, the exchange rate has deteriorated 50% for the dollar. Five years ago, a European could buy one dollar with his Euro; now he can buy one dollar and two quarters. This is huge dollar inflation, but the Euro is not backed by gold, silver or anything else either, just as our U.S. dollar is no longer based on gold or silver; therefor, the Euro could swing the other way just as easily as ours did. In fact, this is the natural back and forth motions with any governmental central bank currency.
Now, Craig R. Smith has proposed a doomsday scenario.
Who has the lion's share of our greenbacks?
Suppose that the leaders of Russia and China got in bed with the Arabs to be their nuclear-arsenal-ed protectors, their bodyguards, when the Arabs introduce their new Gulf Monetary Union (GMU) competition to the U.S. dollar and the Euro.
Suppose that the Arabs peg their currency to gold and oil.
Suppose that the Arabs tell us that they will not sell anyone any more oil, unless we paid for the oil with their GMU monetary unit.
Suppose that China goes along with the Arabs and tell us that we need to purchase our manufactured goods with GMU currency, so that they can buy their oil from Arabs using GMU currency.
Suppose that Russia also goes along with the Arabs, asking Europeans to pay for their oil and gas using GMU currency, so that they can buy Chinese goods with GMU currency.
That is a doomsday scenario indeed!
Both the Euro and the U.S. Dollar would become worthless paper overnight and we couldn't do a thing about it. Russia and China have nukes, and even then, Russia could simply shut off oil and gas supplies to Europe, while China could shut off all our manufactured goods, as Arabs are shutting off the rest of the oil.
People would howl about it being the worst blackmail in the history of the world, but we would have to accept it or declare a nuclear WW III.
A more likely scenario, and a far more generous offer, that is only a little less scary, would be for the Arabs to allow anyone with dollars to convert over to their GMUs. This of course benefits mostly China, Russia and Arabs of course, since they have so many dollars, but it does not cut out everyone else. They would of course only convert the current U.S. M3 money amounts in circulation. Still a disaster, still another Great Depression, indeed a far Greater Depression than last time, but a little more bearable, not of a WW III level.
In this scenario, we would have GMUs to buy oil and manufactured goods for a short time. But again, the U.S. dollar would instantly become worthless, as everyone would convert to the safer bet of the gold and oil backed monetary unit, that would also be the only one accepted by the oil and manufactured goods producing countries.
Craig Smith has already renamed this currency to the ARC (Arab-Russia-China). If either of these scenarios play out, we will need a Biblical Ark to save us.
Who to Blame, Who to Blame, Who to Blame?
The first reaction for Americans is to blame everyone else, but themselves.
Who to really blame?
Yes, there are a few obvious targets to blame, which will never get blamed.
The Christian Solution
It is not enough to blame. Sound solutions are needed. I wish to propose a few solid ways to get this country back on track.
AIG with $1.05 TRILLION dollars in assets was indeed too large to fail. Hence, Lehman Brothers will remain on record as the biggest failure in American history at 639 billion in assets. Enron by example was the third biggest at a puny by comparison 63.4 billion. At ten times the size, that should have allowed Pharisee dominated New York City-based Lehman Brothers to have ten times the number of "Smartest Guys in the Room" than Christian dominated Houston-based Enron. Pharisee dominated New York City-based AIG should have had over 16 times as many "Smartest Guys in the Room".
I distinctly remember the last time the oil patch was making decent money and the media-Scribes were wanting Congress to pass "wind-fall profits taxes". At that time, the investment bankers, just down the street from the media-Scribes of the New York Times, had an even greater return on the dollar than the oil patch. The hypocrisy! But, don't expect to see the media-Scribes tell you any of this. Enron is still fertile joke material for them.
Anyone holding their breath waiting for Sadducee media-Scribe Hollywood producers to make another Fun with Dick and Jane movie, this time about a Sadducee (Herodian?) CEO in New York City, making 22.1 million dollars per year as a banker who bankrupts his own bank , 158 years old, with ten times the assets of Enron, will surely die for lack of air.
How anti-Semitic of me to point out the double standard rich and powerful Jews have us live under, let alone the far greater danger to our country that their actions will have caused in this upcoming Greater Depression.
During the last Great Depression,
Today, if this calamity happened, there would be tremendous barbaric hordes of hungry mobs descend from the Northern cities, much like barbaric Huns seeking the warmth and food of the Roman Empire South.
There will be real blood on the streets because of this gross mismanagement of our economy by the Pharisees, not the symbolic "blood in the streets" that Wall Street likes to allude to when someone loses a few dollars.
And it will not be the fault of the Russians, Chinese or Arabs who created the ARC currency to protect their own countries. You know by now whom I blame.
And as Pat Buchanan explains so eloquently, "The Party's Over" .
And, we will know the party's over when the ARC currency is introduced.
Article located at: http://thechristiansolution.com/doc/20080917_45_DollarCollapse.html
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