someone familiar with Basel II comment on this article

[Steve_A]

Hi Zarathustra,

As I understood it, many banks in the US adopting the Basel II compliancy would have taken themselves out of the market, as I read it, it was quite an expensive operation to make their banks compliant.

So the way that business works is to keep moving forward as usual, to make the most money possible, of course, it's a business, and parallel to that try and negociate or stave off of the deadlines, which the US government has been doing. I think the banks have found themselves too late and the government unsuccessful in staving off for more time.

So what neds to be asked is why SOME banks (Fanny May, Freddy Mack, AIG were given money, and a lot of money, without even asking the American people, that JP Morgan bought out WAMU from the US government for practically nothing, and also Bear Stearn another deal that was engineered by the government) and others were let to rot - 'Oh what a wicked web we weave'.

One thing seems to be clear, the bailout plan is not to help te people it's to help the 'old boys' club'.

Best regards,

Steve

Originally Posted by Zarathustra

Q,

correct or not I don't know, but crazy, I don't think so. It makes too much sense. They can hide crime domestically, but Basel II would require transparency to banks around the world. I think the specific purpose of their "panic" is certainly related.

[tandiwe]

Wow, this is all great information, thanks all for posting it, things make more sense now. The reasons for the bailout, the troops coming home, the forecasts of unrest ... Definitely crimes against humanity, the Hague for George W.

[Chinderland]

I don't think there will be an election or an audit from BIS.

Contactee77 has posted a YouTube link in this forum about the real reasons for the urge to pass the bailout bill: http://www.youtube.com/watch?v=Q4AvbYUu1Mg

It is the foreign governements who pressed GWB to pass this bill via US Congress. After the bailout vote failed on Monday, Reuters reported that foreign governments are very concerned about the failure of the bailout vote. Ministers from Germany, Britain, Australia, etc. urged US Government to revive the bill in the congress so that they can vote again.

So the Reuters report connected the dots with the YouTube video that Contactee77 posted in this thread: http://projectavalon.net/forum/showthread.php?t=3843

The bailout bill, as I see it, is in essence a garantee letter that GWB and his bankster friends would like congress to sign on, so that the Fed can pay back the foreign debts for the last fiscal year and get reimbursed later from US Taxpayers.

If the bailout bill could not be passed whatsoever (we'll have to wait after the vote today from the Senate), the Fed and the banksters would not sacrifice themselves to pay the US Foreign debts, nor would they have enough cash to do so.

US government may use the Protocol 6900 series to deny the debts and declare economic emergency in USA. And the USD will be terminated as a currency. Martial law would be implemented in US to maintain social order. The initial process of the emergency management may take only three days, and is most likely to start at the noon of a trading day when the EU and Asian markets are closed.

[pineal-pilot-in merkabah]

its all part of the plan, id say watch out for bush to "lose it" and somebody kicks it off in th middle east.. as the economy crashes.. just have supplies ready and build a shelter

[Steve_A]

Hi pineal-pilot-in merkabah,

Robert Baer, ex CIA operative said on Fox this morning that if the US don't invade Iran before January, Israel will.

Keep your head low.

Best regards,

Steve

Originally Posted by pineal-pilot-in merkabah

its all part of the plan, id say watch out for bush to "lose it" and somebody kicks it off in th middle east.. as the economy crashes.. just have supplies ready and build a shelter

Great thread!

[Bagatell]

I thought this might have something to do with Basel II. Lots of people think the source is suspect, which only makes me think she might be on to something.

What odds that by March 2009 the US is using Ameros and the UK finally goes over to the Euro?

[Zarathustra]

Originally Posted by Steve_A

Hi Zarathustra,

As I understood it, many banks in the US adopting the Basel II compliancy would have taken themselves out of the market, as I read it, it was quite an expensive operation to make their banks compliant.

So the way that business works is to keep moving forward as usual, to make the most money possible, of course, it's a business, and parallel to that try and negociate or stave off of the deadlines, which the US government has been doing. I think the banks have found themselves too late and the government unsuccessful in staving off for more time.

So what neds to be asked is why SOME banks (Fanny May, Freddy Mack, AIG were given money, and a lot of money, without even asking the American people, that JP Morgan bought out WAMU from the US government for practically nothing, and also Bear Stearn another deal that was engineered by the government) and others were let to rot - 'Oh what a wicked web we weave'.

One thing seems to be clear, the bailout plan is not to help te people it's to help the 'old boys' club'.

Best regards,

Steve

Steve,

I agree.

On a side note, I heard a caller ask an economics professor on cspan this morning about Basel II, and it looked to me as though her was "pretending" to know nothing about it.