At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occured over the period of an hour or two.
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Marc Faber: "US will default on debt or enter hyperinflation" (video)
11 February 2009 par (Open-Publishing)
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Rep. Kanjorski: $550 Billion Disappeared in "Electronic Run On the Banks" (video)
9 February 2009 par (Open-Publishing)
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I’ll Wait For You
7 February 2009 par (Open-Publishing)
By David Glenn Cox http://theservantsofpilate.com
Years ago I was in a terrible car crash. It was a beautiful, sunny spring day and we were headed for Panama City, Florida. My friend had just replaced his four thousand-pound Ford with a new MGB convertible. The back tire, the driving wheel, got into the gravel and lost traction. The car swerved and he jerked the wheel to correct, but it wasn’t a four thousand-pound Ford, just an eighteen hundred-pound sports car. All of my life (...) -
I.O.U.S.A. ONE NATION. UNDER STRESS. IN DEPT - SHOCKUMENTARY
7 February 2009 par (Open-Publishing)
http://www.iousathemovie.com/
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GM, Chrysler offer workers cash, cars to leave
6 February 2009 par (Open-Publishing)
GM, Chrysler offer workers cash, cars to leave
Tue Feb 3, 2009 12:38am By Poornima Gupta
DETROIT (Reuters) - General Motors Corp (GM.N) and Chrysler LLC on Monday began offering a new round of retirement incentives including vouchers for cars as the automakers move to reduce workers and inventory.
GM will offer its U.S. hourly workers $20,000 in cash and a $25,000 voucher to buy a vehicle as an incentive to retire or leave the company, an official with the United Auto Workers union (...) -
Leading Economists: Let the banks fail
5 February 2009 par (Open-Publishing)
Leading Economists: Let the banks fail
Global Research, February 2, 2009
George Washington Blog.
The government and Wall Street have endlessly repeated the statement that we have to save the banks, or the whole economy will be destroyed.
But leading experts - including the following people - say that letting the banks fail will help the economy recover:
Nobel prize-winning economist Joseph Stiglitz
Leading monetary theorist Anna Schwartz
Highly-regarded PhD economist Michael (...) -
A US Dollar conspiracy theory?
5 February 2009 par (Open-Publishing)
1 commentA US Dollar conspiracy theory?
Global Research, February 4, 2009 Russia Today - 2009-01-30
While the world economy collapses the American dollar continues to strengthen its position in the world, to little wonder – it’s getting back to its basics as the backup currency on every continent except Antarctica.
Yet since the U.S. has debts two times exceeding the world’s GDP one cannot help but ask oneself – what’s next?
The web is flooded with lots of theories and rumours about what (...) -
Keiser: U.S. Dollar the “Roach Motel of Global Currencies”
5 February 2009 par (Open-Publishing)
http://www.infowars.com/keiser-us-dollar-the-roach-motel-of-global-currencies/
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The World Economic forum (WEF): Requiem for an overweight
5 February 2009 par (Open-Publishing)
The World Economic forum (WEF): Requiem for an overweight
by Eric Walberg
Global Research, February 4, 2009
“The WEF is not a government of the world,” said organiser Andre Schneider wistfully in the crisp Davos air.
The world’s economic elite gathered in a subdued atmosphere at this year’s World Economic Forum to assess the now global economic crisis. New York University professor Niso Abuaf compared it to a funeral, though not for the sake of the dead “ancien regime”, but “for (...) -
America Faces the Music in Davos
4 February 2009 par (Open-Publishing)
By William Pfaff
The American participants in this year’s World Economic Forum in Davos, Switzerland, have been the first to confront the full international blowback to the U.S.-created world economic crisis. The crisis has devastated America’s reputation for intellectual innovation and practice in global finance, its business leadership and its domination of applied and academic economics—all promoted at the Davos forum for decades. Last Friday, a Wall Street Journal front-page headline (...)