We Don’t Know
Pamela Geller at the Atlas Shrugs blog has a must see clip from C-Span where Democrat Representative Paul Kanjorski discusses what started the economic crisis we have been dealing with for the past few months:
On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically.
The Treasury tried to help, opened their window and pumped in $150 Billion but quickly realized they could not stem the tide. We were having an electronic run on the banks. So they decided to closed down the accounts.
Had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawn and the entire economy of the United States would have collapsed, and within 24 hours the world economy would have collapsed.
He concluded with:
Someone threw us in the middle of the Atlantic ocean without a life raft. We are trying to determine which is the closest shore and whether there is any chance in the world to swim that far. We don’t know.
It is interesting that nobody is saying who was behind this obviously coordinated attack on our economy. Surely they must have figured it out by now. Pamela speculates that it was a political move by George Soros & Co. There are other thoughts in the comment section, which are worth perusing. The sobering thing is to realize just how vulnerable our civilization is to such an attack, and how clueless and feckless our government is to counter one.
