Many of us were told in private conversations that if we voted against this bill on Monday, that the sky would fall, the market would drop two or three thousands points the first day, another couple thousand the second day, and a few members were even told that there would be martial law in America if we voted no.
House Representative Brad Sherman (D-California)
Debate on the House Floor, October 2, 2008
Consider this: If the system was about to meltdown in 2008 when Henry Paulson et. al. told then President Bush and Congressional leaders that we would have soldiers and tanks in the streets if they didn’t get the $700 Billion in bailout funds, then how serious of a problem was this to begin with?
Try to envision this scenario.
The only reason for declaring martial law and for why tanks and soldiers would need to be deployed on our streets is because the entire system as we know it today collapses and a state of emergency through martial law has to be implemented.
We’re talking economic, political and social meltdown on a massive, unprecedented scale. Basically, America as you know it to be today would no longer exist. This is how serious it would have to be if tanks and soldiers were dispatched throughout America.
Assuming the financial and economic systems were, in fact, on the brink of complete and total systemic meltdown, how confident can we really be that we have avoided disaster?
Did the TARP bailout and obscene stimulus spending programs really save us from going under?
What if – and we’re just hypothesizing here – what if they didn’t save the system and the worst is yet to come? What if the bailouts and stimulus don’t work?
Yes, our officials would have all of us believe there is nothing to worry about. But for the sake of argument, let’s say they overestimated their abilities to control the quadrillion dollar derivative bubble. Obviously, the bubble is still there, and as Dylan Ratigan pointed out on MSNBC recently, nothing has been done to fix it.
Since it is obvious that what our leaders say and what is actually happening are two different things, we must seriously consider the possibility that we are in the eye of the storm and the worst is yet to come.
Some may argue that this perspective is alarmist, and this author would not deny that sirens are blaring. Considering that Congress was threatened with martial law fewer than 18 months ago, we should find it necessary to question whether or not the same possibility still exists today.
If martial law is a possibility foreseen by those in charge of our political and financial systems at the onset of this crisis, then we should be very concerned about our future if the underlying problems within our economy have not yet been resolved.
Can any American honestly say for certain that they believe the financial and economic systems have been saved from catastrophe?
In a recent CBS interview, former Secretary of the Treasury Henry Paulson, who was responsible for engineering the bailout of financial institutions, says he thinks we “came very, very close,” to meltdown in the fall of 2008.
Empirical evidence indicates that credit markets are essentially frozen, the jobless rate is rising, home delinquencies and foreclosures continue to mount, and consumer confidence is deteriorating. It seems that we are still, as the title of Mr. Paulson’s new book suggests, on the brink.
The implications of failure are truly terrifying.
Great piece Mac! The worst is yet to come and sadly few people know about this. This is exactly the reason why there is a warranted fear of Martial Law.
As the great Gerald Celente often proclaims, “When people loose everything and they have nothing left to loose, THEY LOOSE IT!”
Interesting read… we live in interesting times… better prepare for EVERY scenario
Paulson’s (et al) scenario sounds less like a possibility and more like a threat to me.Â
There is no way they saved the system. they just delayed it and focused on the first wave. the second wave is 100x worse the the first. all they did was panickedÂ passÂ Tarp hoping it will buy time. We have so many bubbles that havent popped yet. industrial loans,credit cards,alt a/option arm,Pension coming crisis,student loan crisis,sovereign debt crisis,derivaties radiation bubble,auto loan bubble,corporate and muni Â bonds and many more shoes to drop. they made the situation worse with this money the pumped into it. we have clusterfuck of problems and it would takeat least Â 25 years to get out of the depression. we just had a financial uss cole in 08, we are going to have a financial hiroshima very soon.
Those in the know (like Dylan Ratigan) KNOW that the financial structures which created the meltdown are still in place. The only difference is that now it is taxpayer money at risk and not shareholder funds. The major banks are using financial derivatures to gamble on transactions (vis a vie “insurance” bets) to which they are not a party.
Taxpayers are currently “at risk” for over 23 trillion dollars; and the derivatures market is upwards of 100 trillion globally. Its all “paper money” electronic money that can disappear “over night” if just one “too big to fail” institution fails to pay its debt when their chit is called. Banks and insurance companies must be restructured and banking and investment banking separated. IB wantÂ depositer funds to gamble with to increase profits so they can justify large salaries and bonuses.Â The problem with that is if they lose money i.e. depositer funds, the FDICÂ (read taxpayer) has to pay to reimburse the losses. Banks have been recapitalized three times year over year, this past year. Enough is enough!
When the system fails again, soon, it will take the rest of the wealth of the middle class with it. It will destroy whats left of their IRAs, Pension Funds, and savings. Shareholders will again be raped and top managers will profit most with salaries and stock options. It is a deliberate plan to impoverish America for the sake of one world government. Why else would the too big to fail crowd eagerly agree to a world wide tax on their activities in Davos? It creates ANOTHER world body, a world IRS as it were. So now we have a world court, a world parliment, and a world tax collecter! All we need now is a world dictator! Come Anti-Christ, Come! Its ALL ready for YOU!
As for UK…..
All statistics and past and present information indicate that the recession has a long way to go. A whole decade or two. From recession to depressionâ€¦.it can happenâ€¦.whyâ€¦â€¦.
the disappearance (complete wipe off)Â Â of
luck private jobs
non working older populations
pace of technology
globalisation (global work force)
globalised pay levels
national competative advantages
toÂ read in more detail please go to my site http://www.economistdude.blogspot.com/
Am looking for a suitable job forÂ that complements myÂ insightsÂ inÂ economic matters.Â Â Â
I encourage everyone to study up on “The United Nations” Agenda 21 plan for the world all designed by “The Elites” and the new world order.
Also, YouTube Lindsay Williams. This Pastor has direct contact with some of the Elites, whom he was their Chaplin on the Alaskin Pipeline buildout in the 70s.
He has pre told everything that’s happened so far. All verifiable. He was told the currency crash is planed for 18-24 months out. (today’s date is 8-8-13. He was told by an Elite friend that he will be told the exact day of the currency collaspe, which and will tell us on a YouTube radio show video.
I have honestly never read, watched anybody like him. Check it out.