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2011-03-01 Home Front: WoT

Gertz: Financial terrorism suspected in 2008 economic crash

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Posted by Nimble Spemble 2011-03-01 09:56|| || Front Page|| [11126 views ] Top

#1 I'd say, the collapse was largely an "inside job" that came about because of excessive spending, progressive politicians trolling for votes, and migration of jobs/businesses overseas; particularly to China and India. China manipulating their currency to their currency was also a problem.

A letter to the editor appeared in our hometown newspaper a few days ago where the writer called the IRS to get information only to get a call center in India. There is something very wrong with that. The call center jobs could just as well be done in the USA.

Posted by JohnQC 2011-03-01 10:30|| 2011-03-01 10:30|| Front Page Top

#2 Basel 2 turned the volume of credit into a commons.
The volume of credit thus exploded.
This credit pushed down yield below the natural risk.
System default was inevitable afterwards.

Posted by Bright Pebbles 2011-03-01 10:46|| 2011-03-01 10:46|| Front Page Top

#3 Our own government set this calamity up by ignoring its regulatory duties at many levels and then strongly encouraging loans to people who couldn't service them.

None of the regulatory oversight issues have been corrected. No one is in jail and Barney Frank still has a job.

As for the 2008 crash, one need look no further than the Obama-Soros axis. All that was needed was to kick out one of the lower cards. They got more than they hoped for to affect the election.

Posted by KBK 2011-03-01 10:56|| 2011-03-01 10:56|| Front Page Top

#4 KBK hit the nail. My first thought was, Soros working with Obama. They set up the dominoes and let them fall. They hoped to make Americans plead for their socialist reforms and policies. After the 2008 election, it was their time, their moment in history!

Flash forward to 2010 and they just had their Stalingrad. The war is still on but they can't see the tide has turned and they are losing (or lost) the public trust and faith. Yet, the axis is still going on as if they have the war won. Keeping drilling from happening, pushing forward Obamacare, stalling oil shale production, pushing green projects, etc. I predict a bunk like mentality and attitude come Sept. 2011 as they watch their cronies starting to go down like flies to the rampaging voters and their vision of a socialist America utopia crumble beneath the rumbling poll numbers.

Posted by DarthVader 2011-03-01 11:04|| 2011-03-01 11:04|| Front Page Top

#5 I expect this kind of denial and fingerpointing from Arab countries, not from the US.

I guess things have changed.

Posted by gorb 2011-03-01 11:04|| 2011-03-01 11:04|| Front Page Top

#6 The economic collapse happened because McCain/PALIN were surging in the polls. If McCain would have responded correctly it would be a far differnt world today.

Posted by bman 2011-03-01 11:38|| 2011-03-01 11:38|| Front Page Top

#7 I think you miss the point gorb. There is plenty of fingerpointing to go around. Basically, the American consumer went nuts and the regulatory government groups let them have all the rope they wanted.

It just answers the question, "Who would benefit the most from a economic US crash?"

Soros has a history of making billions from crashes and knows how to make the most of them and just happens to be supporting and in bed with most of the people that were in power during the crash. They knew how to "never let a crisis go to waste". However, the fault should lie at our own feet for allowing the situation to develop over decades. Soros and his cronies saw the perfect time to move in and take advantage of the collapse.

Posted by DarthVader 2011-03-01 11:43|| 2011-03-01 11:43|| Front Page Top

#8 I remember at the time there was a Congressman saying that there had been a panic in govt circles because "someone" had withdrawn a vast sum from the money markets, and that this was what precipitated the liquidity freeze-up.

Posted by Butch Elmaviting1567 2011-03-01 11:57|| 2011-03-01 11:57|| Front Page Top

#9 Bawney Fwank strikes terror into my heart.

Posted by Ebbang Uluque6305 2011-03-01 12:11|| 2011-03-01 12:11|| Front Page Top

#10 --@Butch Elmaviting 1567:

Here is the video of 'former' Pa Congressman Paul Kanjorski that you are referring:

LINKY

Posted by Tom--Pa 2011-03-01 14:11|| 2011-03-01 14:11|| Front Page Top

#11 At the time there was a brief mention of a flurry of the orders being placed from German internet addresses with prior affiliation the Russian mafia. Keep in mind that manipulation of financial markets doesn't JUST benefit terrorists; it benefits all those who profit from the manip by knowing of it in advance. Last year we had all the "technical errors" where a single stock would lose 70% of it's value for 5 minutes. Did they investigate who bought during the downturn? Or was this a demonstration event (again). Knowing there are those out to "get you" doesn't necessarily make you paranoid . . .

Posted by Pancho Angise6853 2011-03-01 14:21|| 2011-03-01 14:21|| Front Page Top

#12 Blame for putting us in the position where we were so financially vulnerable goes back to Johnson. Medicare and Medicaid were his baby steps to the provision of socialized medicine. He also set up the inflation that led to automatic COLAs for Social Security. Before then, the level of social security payments was set each year by congress. He also converted Frannie Mae to the monster we know today and created GNMA

Then the next liberal, Nixon, gave us Freddie Mac. He also broke the link between our currency and the price of gold. Not to mention the EPA, OSHA and the Clean Air Act.

All this was enough to cripple American industry over the next decades and the fiscal constraints that had controlled government spending.

So the rot had been developing for decades. But why did the dam break on September 15, 2008 just as McCain's position was strengthening in the polls? Coincidence? Perhaps. But Soros and the Chinese had a lot to gain by throwing the circuit breaker and I'd bet one of them did and could again.

And it's the "could again" that makes this worth getting to the bottom of. It will be a couple of decades before we've returned our financial house to order, at least. There may be another attempt to topple the house of cards. And oil at $200 a barrel could do it. In September 2012.

Posted by Nimble Spemble 2011-03-01 18:17|| 2011-03-01 18:17|| Front Page Top

#13 What could be done to prevent Soros from "buying" the next election?

Posted by Fire and Ice 2011-03-01 18:24|| 2011-03-01 18:24|| Front Page Top

#14 Fire, the answer to your question may not be stated here.

Posted by Glenmore 2011-03-01 19:09|| 2011-03-01 19:09|| Front Page Top

#15 HONEYPOT with a beautiful REPUBLICAN :) Oh, the horror! Video and distribute. Its the only way. You can't fight a money Goliath with more money, and cannot do anything that cannot be stated, buuuutttt that leaves other options. Hell hath no fury like an ugly leftie chick scorned.

Posted by Fire and Ice 2011-03-01 20:35|| 2011-03-01 20:35|| Front Page Top

#16 It just answers the question, "Who would benefit the most from a economic US crash?"

Although I am curious to know if there is an answer, this question is not as interesting to me as it might be to others.

I am more interested in how this system came to be. How it interacted to sustain itself. Who allowed it to carry forward. Why.

I lay the blame for this squarely at the feet of the subversives who set up our faulty regulatory system. Who were put there by voters, by the way.

We don't just need the specialists like the press to keep the politicians in line, we also need specialist groups to keep an eye on their policies so we have a feel for what proposed polices would mean. To keep enacted polices from going off the rails, either intentionally or unintentionally. Obviously, our politicians aren't capable of policing themselves. But I expect this behavior. The main thing most of our politicians are expert at is taking advantage of situations to further their own power base no matter how bad it damages the system they depend on.

In my mind, this kind of behavior is felonious in the old-fashioned absolute sense, and not the new relative sense. Worthy of a miserable existence behind bars until death, or even the death penalty itself in some of the cases that have been revealed by this mess we are in. Instead politicians and executive management are sent home with their tails between their legs, bank accounts intact, to lick their wounds on their private yachts or in their NY penthouse apartments. While I toil to repair my brick in the foundation of our country and hope that my children actually inherit a country that means something and that they can be proud of after what has been done to it.

If we put ourselves in a position to be vulnerable, we deserve everything we got, whoever the agent that finally pulled the pin happened to be.

Learn, intercept, fix. Or fall because you didn't really try.

Posted by gorb 2011-03-01 22:58|| 2011-03-01 22:58|| Front Page Top

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