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-   -   How The Economic Collapse Of 2008 Will Play Out (http://projectavalon.net/forum/showthread.php?t=4216)

sneakerone 10-05-2008 08:10 AM

How The Economic Collapse Of 2008 Will Play Out
 
How The Economic Collapse Of 2008 Will Play Out
It'll happen when the world refuses to carry america's debt anymore.

"That first day, the Dow Jones Industrial Average and related indices on a percentage basis would lose about 20% of their value by the close of business that day. The real impact would come overnight when the American people found out what this was all about and when it was explained to them.

At 7:30 a.m. EDT, the Tokyo markets would open, and no price would be affixed for probably three or four hours into the session due to the avalanche of selling. Once prices were established, the government of Japan would close all of its financial markets. Europe would not even open. All European governments would close all capital exchanges the next day.
The United States would, in order to accommodate global electronic trading, attempt to open the market on the second day, which they would do, regardless of price, just to maintain some liquidity. At the end of Day Two, the Dow Jones and related indices, would have lost two thirds of their value, and prices would be set accordingly.


On Day Three, the New York Stock Exchange, the SEC and other related agencies would recommend to the United States Treasury and the Federal Reserve that all markets be closed. That would be on the morning of Day Three. Eleven a.m., the Federal Reserve would then order all domestic banks closed. All of the twelve Federal Reserve district banks would (30 minutes later) have special U.S. forces parachuted in and around them to secure whatever gold bullion reserves they had left.

Day Three, 9:00 p.m., the President of the United States would declare a state of martial law. All financial transactions would come to an end. The Treasury would act to formally de-monetize the U.S. dollar and declare it worthless.
This would be totally unprecedented. In the past, collapses have been temporary and have been brought back up. But what we're talking about now is the end."

Bagatell 10-05-2008 08:18 AM

Re: How The Economic Collapse Of 2008 Will Play Out
 
Help, Ive gone blind!

Now thats better :D

ARE WE THERE YET 10-07-2008 10:22 AM

Re: How The Economic Collapse Of 2008 Will Play Out
 
And I have gone deaf and dumb.
Didn't the markets loose 26% on close on Monday ?

jaby 10-07-2008 11:22 AM

Re: How The Economic Collapse Of 2008 Will Play Out
 
Quote:

Originally Posted by sneakerone (Post 38957)
How The Economic Collapse Of 2008 Will Play Out
[FONT=Trebuchet MS]It'll happen when the world refuses to carry america's debt anymore.

Thanks for that, sneakerone. Very concise and clear.

Woah...roller coaster ride ahead, maybe.....?


Song for a laugh...MONEY.

Link...http://uk.youtube.com/watch?v=rkRIbUT6u7Q


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