About the current financial scenario : History is repeating

[Eon]

I finished reading and reviewing the material in Bill Ryan's Oct, 3 post "Project Camelot update on current financial scenarios". I have so much to say about the information that Bill handed us, but I'll try to go directly to the point.

I was searching for evidences to be definitely convinced that the current credit/financial crisis was a choreographed coup planned by a group of insiders. It is indeed difficult to point at any one in particular, because the current crisis is the result of an amount of separate actions, regulations and events that occured during the last years and even decades. The source of all the current financial mess is the proliferation of the new financial instruments (i.e. derivatives) that began in the early 80's during the Reagan administration. Did Reagan plan this? I wouldn't believe it! I don't think so.
Finance is already an intricate domain, and if you add to it, the current rapid unfolding of events/announcements and the crossfire of official/unofficial statements and opinions, it becomes a massive mess, a total confusion.

To cut it short, I feel the need to sit back and understand what is happening by finding evidences.
I agree that evidences are all over the place, but let's just focus on a few here and try to find a coherent line of thought, if I dare to say.

- The Fed that owns the monopoly of dollars production is a private company, which list of shareholders is confidential. If it wasn't an official para-statal agency, one could consider it as an occult organisation since nobody officially knows who is controlling it. But this isn't my point. It is now known that the undisclosed owners of the Fed are different private banks. Among others Goldman Sachs (as also cited by Andy Gauss) and Citibank.

- Looking at the last developments of the current events, the Financial Times reported yesterday that "A Legal Frenzy as Banks Battle for Wachovia" was ongoing.
What is happening? Citigroup agreed to buy Wachovia for $2.2billion on Monday Sept, 29; Wells Fargo made an offer at $15billion the same week and a US district court had to determine today if Wells Fargo and Wachovia may pursue a deal. Citigroup counterattacked with an armada of lawyers arguing that their deal was sealed by the FDIC in urgent discussion to save Wachovia.
What is strange to me in this story is : (1) Isn't it always the best offer that wins in a normal process? $15 billion vs. 2.2 offered by Citibank, a bargain or a theft? (2) Is the situation so urgent that a deal must be made in less that a week? shouldn't the regulators calm things down?
A reader from the New York Times commented that this story "serves to place a further shadow of doubt concerning the veracity of all that’s being said and done about the present world financial crisis."

- History is repeating. Insiders take the opportunity to acquire important parts in the economy and banking systems of a weakened country. One example is the Rothschild during the Napoleonic Wars.

This is the kind of movement that I think is dominating the current crisis. Banks are merging and the power will be concentrated after this turmoil in a few hands. The hands of those who already have the privileged information, network and tools to manipulate the system in their favor.

In this regard, I recommend you watch the following documentary on youtube: "1932, A True History of the United States". It tells an alternative history of the USA from Abraham Lincoln to Roosevelt's presidency. It recounts events that can also be compared with what Andy Gauss (in the interview referred by Bill Ryan) qualifies as a coup d'état: Kennedy assassination. In deed, Lincoln was also assassinated, and Roosevelt died of a natural death that prevented the continuity of his New Deal policies in the rest of the world. Who profited?


I hope that these information contribute to the awareness of the community.
All your comments are welcome.
Take care
Eon

[Trishsgate]

Quite thorough post. One would think logically that the higher bid would trump the lower in a sane and moral society, but IMO Wells Fargo may not be one of the bigger players and therefore the entanglement begins. This can also be traced backwards to the depression in the 30's within the US where smaller firms were gobbled up by the larger ones to create major monopolies. Some have even said that many in the know pulled their money before the crash in the 30's in order to take a much bigger slice of the pie. Again thanks and will watch the video it does not appear that I have viewed this one or at least not in awhile.

[Eon]

Indeed, during the 30's as it is happening today, only the major players managed to survive the banking crash.
We still can see films of herds rushing to their banks and to the stock exchange to close their position or their accounts. Until today, I could not really understand what people felt at that time. Now, I feel like living in an upgraded version of the 30's ;o) What a ride!

I discovered that movie on youtube 2 days ago. Seems to be a quite new post. Evenif I do not concur entirely with the rest of the material posted by this youtube member, I found that the movie they made is really worthwhile!

Cheers