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The Secret That Will Destroy The World's Financial System

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If this is done and dusted, apologies, I couldn't see it.

There's a secret out there.

A secret so incredible, so horrifying, so toxic that if the public ever heard about it, it would destroy the world's financial system.

bink's diary :: ::

That sounds like a big claim.

Who's making it? Not some scary Chicken Littles in the Daily Kos diaries. Not some Doomer site. Not wacked-out gold bugs. Not Ron Paul.

This claim is being made by a consortium of the world's biggest and most powerful banks.

What's the secret they don't want you to know?

It all starts here:

http://www.dailykos.com/storyonly/2009/8/2...inancial-System

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When is this information likely to be disclosed ? If ever ?

I'm too lazy to google at the minute... but it looks like the fed appealed and have had it turned down.... I haven't seen anything about what time limit they have to produce the information.

I think I might get my meagre savings out of the bank tomorrow and buy a valuable commodity instead.... soft multi-ply toilet paper might be in big demand....

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There was a time when the elite worried about unsettling the horses. Now they worry about disclosing information that might "unsettle the shareholders."

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My understanding was that the Fed was supposed to disclose the info on 31 August. However, I've heard nothing since then. Total news blackout. The only sniffle of trouble is being sensed by gold: currently moving towards 1K at 990 USD (hovering over 600 GBP). Be afraid, be very afraid. :huh:

Edited by Fortune

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Guest The Relaxation Suite
My understanding was that the Fed was supposed to disclose the info on 31 August. However, I've heard nothing since then. Total news blackout. The only sniffle of trouble is being sensed by gold: currently moving towards 1K at 990 USD (hovering over 600 GBP). Be afraid, be very afraid. :huh:

If people find out where the money went, there will be a run on those banks because the sheep mentality that is so often described on this website.

Edited by D-503

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My understanding was that the Fed was supposed to disclose the info on 31 August. However, I've heard nothing since then. Total news blackout. The only sniffle of trouble is being sensed by gold: currently moving towards 1K at 990 USD (hovering over 600 GBP). Be afraid, be very afraid. :huh:

Why is this big news, surely there is not a bank that if it accounted properly would be solvent in the whole of the West. 20-30% falls in asset prices (so far) when you operate fractional reserve banking at 9-1 is pretty simple maths.

The whole system is insolvent that is why the only way out is for the governments to restore confidence via propoganda and do all they can to fight the deflation in the system.

The current big picture is

1. Spend on stimulus to achieve biggest advance in GDP. Cash for clunkers was one of the most effective for that to achieve a short term boost to get us out of a technical recession, the fact the car industry has just drawn forward 1-2 years of demand in 6 months does not matter atm.

2. Ask the Chinese to manipulate the comodities such as copper (another supposed leading indicator that the economies have turned) and get the banks to manipulate oil (they forget natural gas and it is still falling today as all comodities would be without this interventions.) This has and will help keep deflation in check.

3. Nurture the masses into believing the worst is over with a war like propoganda effort coordinated at the G20 in March, supporting asset prises and consumer spending.

This is not about the individuals that understanding the current crisis this is about the masses and even if this news discloses that BOA has borrow $500 billion it will have little effect on the plan above.

Edited by Confounded

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If people find out where the money went, there will be a run on those banks because the sheep mentality that is so often described on this website.

Not sure how that would work.. you *can't* have a run on an institution which is backed by the printing press.

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let there be runs.

let the banks close.

ITs credit that they cant meet.. the remaining MONEY will still be out there. banks will STILL exist after the cull.

And if this report says all banks are insolvent, well, its only taken them 2.5 years to find out....well not really, they knew at the time...the ONLY solution was to trade through it....however, the difficulty, as they are finding out, is keeping the people borrowing.

let half the banks go. let the financial side trade end....the real World is whats important...it provides our food.

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OK

The poor judge who decided the American system has to disclose which banks were propped up by the rescue package...

If the judgement is going to be so ruinous to the banks' own interests as well as the wider economy, how long til he's shot? I hope he's well defended.

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OK

The poor judge who decided the American system has to disclose which banks were propped up by the rescue package...

If the judgement is going to be so ruinous to the banks' own interests as well as the wider economy, how long til he's shot? I hope he's well defended.

a martyr to the cause. the judgement will outlive the judge. as it should.

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whilst there may be a secret that will destroy the financial system, a far greater deadlier

awaits the next world war

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Why is this big news, surely there is not a bank that if it accounted properly that would be solvent in the whole of the West. 20-30% falls in asset prices (so far) when you operate fractional reserve banking at 9-1 is pretty simple maths.

The whole system is insolvent that is why the only way out if for the governments to restore confidence is via propoganda and do all they can to fight mask the deflation in the system.

The current big picture is

1. Spend on stimulus to achieve biggest advance in GDP. Cash for clunkers was one of the most effective for that to achieve a short term boost to get us out of a technical recession, the fact the car industry has just drawn forward 1-2 years of demand in 6 months does not matter atm.

2. Ask the Chinese to manipulate the comodities such as copper (another supposed leading indicator that the economies had turned) and get the banks to manipulate oil (they forget natural gas and it is still falling today as all comodities would be without this interventions.) This has and will help keep deflation in check.

3. Nature the masses into believing the worst is over with a war like propoganda effort coordinated at the G20, supporting asset prises and consumer spending.

This is not about the individuals that understanding the current crisis this is about the masses and even this news discloses that BOA has borrow $500 billion it will have little effect on the plan above.

+1

Took the words right out of my mouth.

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http://www.bloomberg.com/apps/news?pid=new...id=aQSMj84TPttg

"The Federal Reserve has until Sept. 30 to appeal a federal judge’s order requiring the central bank to identify financial institutions that benefited from its emergency loans."

"Fed lawyer Kit Wheatley told Preska in a conference call yesterday that it could take 30 days for the Fed to get permission for an appeal from Solicitor General Elena Kagan, the administration’s top courtroom lawyer."

Current state of play as I understand it. It was to be 31 August.

p-o-p

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+1

Took the words right out of my mouth.

Suspect if you had written it it would not have contained all the errors I missed! Updated now but you obviously still got the gist of it, bleary eyed early morning typing for you. :rolleyes:

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let there be runs.

let the banks close.

ITs credit that they cant meet.. the remaining MONEY will still be out there. banks will STILL exist after the cull.

And if this report says all banks are insolvent, well, its only taken them 2.5 years to find out....well not really, they knew at the time...the ONLY solution was to trade through it....however, the difficulty, as they are finding out, is keeping the people borrowing.

let half the banks go. let the financial side trade end....the real World is whats important...it provides our food.

+1!

Exactly! New banks are easy to start and infrastructure doesn't vanish along with the bank credit.

Time to kill off the parasites! :angry:

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let there be runs.

let the banks close.

ITs credit that they cant meet.. the remaining MONEY will still be out there. banks will STILL exist after the cull.

And if this report says all banks are insolvent, well, its only taken them 2.5 years to find out....well not really, they knew at the time...the ONLY solution was to trade through it....however, the difficulty, as they are finding out, is keeping the people borrowing.

let half the banks go. let the financial side trade end....the real World is whats important...it provides our food.

Well said, BL.

You have inspired me to rewrite an old song.

(Apologies to lyricist Ian Grant and singer Nat King Cole)

Let there be you

Let there be me

Let there be banksters

Who just let us be

Let there be cash

An occasional loan

Debt-free pounds sterling

A home that I own --

Let there be men

Who say what is true

Political freedom

Prosperity too

Let there be cuckoos,

A lark and a dove,

But first of all, please --

Let there be love.

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The only sniffle of trouble is being sensed by gold: currently moving towards 1K at 990 USD (hovering over 600 GBP). Be afraid, be very afraid

Thanks, I was wondering what was causing it :)

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