As I have had cause to remark in the past, my knowledge of economic matters is cursory at best. (That’s one of the reasons I keep The
DUCK around. That, and the puns. No, wait…) So, despite my interest in
THIS story, I recognize that I am almost compeltely unqualified to comment on it.
To set the C-SPAN scene, Kanjorski is harkening back to the middle of last September, when, as it happens, John McCain was enjoying his brief lead in the presidential polls and the economy as we knew it was imploding. Here’s what Kanjorski said:
“I was there when the Secretary (of the Treasury Hank Paulson) and the Chairman of the Federal Reserve (Ben Bernanke) came those days and talked to members of Congress about what was going on. It was about Sept. 15. Here’s the facts, we don’t even talk about these things.
“On Thursday at about 11 o’clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of $550 billion, as being drawn out in the matter of an hour or two.
“The Treasury opened up its window to help. It pumped $105 billion into 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.”
OK, so my knowledge of financial matters is sadly lacking. But “Soros and Co. trying to stack the deck for Obama,” I get. Quite a bit of food for thought there. (Or “thought,” in my case.) The Champman, who sent me the original link, said it reminded him of THIS:
Japan begins its part of the operation against the U.S. by launching torpedoes at two of the U.S. Navy’s Pacific Fleet aircraft carrier and two submarines at the conclusion of a joint U.S.-Japan naval exercise, destroying both submarines and crippling the carriers. Simultaneously, the Japanese cabal engineers the collapse of the American stock market (through the use of witting and unwitting personnel who electronically wipe out the computerized records of all transactions on Wall Street), leaving America at a huge economic disadvantage.
Great.