someone familiar with Basel II comment on this article

[Zarathustra]

THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

Basel-II compliant banks in Europe and elsewhere will be forbidden to do business with non-compliant banks in the U.S., effectively bringing the non-compliant banks down.

from Wiki:

A fiscal quarter is 3 months (1/4 of a year). For example, the United States government fiscal year for 2008 ("FY08", sometimes written "FY07-08") is as follows:

* 1st Quarter: October 1, 2007 - December 31, 2007

* 2nd Quarter: January 1, 2008 - March 31, 2008

* 3rd Quarter: April 1, 2008 - June 30, 2008

* 4th Quarter: July 1, 2008 - September 30, 2008

The U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30 of the year with which it is numbered.

http://en.wikipedia.org/wiki/Fiscal_year

Also from Wiki:

Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II, which was initially published in June 2004, is to create an international standard that banking regulators can use when creating regulations about how much capital banks need to put aside to guard against the types of financial and operational risks banks face.

Advocates of Basel II believe that such an international standard can help protect the international financial system from the types of problems that might arise should a major bank or a series of banks collapse. In practice, Basel II attempts to accomplish this by setting up rigorous risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices.

Generally speaking, these rules mean that the greater risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability.

[snip]

On July 16, 2008 The federal banking and thrift agencies ( The Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; the Office of the Comptroller of the Currency, and; the Office of Thrift Supervision) issued a final guidance outlining the supervisory review process for the banking institutions that are implementing the new advanced capital adequacy framework (known as Basel II). The final guidance, relating to the supervisory review, is aimed at helping banking institutions meet certain qualification requirements in the advanced approaches rule, which took effect on April 1, 2008. http://www.occ.gov/ftp/release/2008-81a.pdf

[snip]

The European Union has already implemented the Accord via the EU Capital Requirements Directives and many European banks already report their capital adequacy ratios according to the new system. All the credit institutions will adopt it by 2008.

http://en.wikipedia.org/wiki/Basel_II>

Apparently a 90-day extension was given for U.S. banks to get their books in order. That extension expires on Sept. 30th so by Oct. 1st U.S. banks MUST be compliant or they CAN'T DO BUSINESS WITH COMPLIANT (more honest) BANKS.

I would guess that the REAL REASON for the sudden big PANIC and RUSH has to do with these deadlines. Nothing else makes sense. And the blaming of "bad mortgages" for the whole mess is totally disingenuous.

IT'S ABOUT THE CRIMINALITY, STUPID!

Basel-II has been a long time coming, and NOW is the due date.

If we consider C. Story's reports we realize that major U.S. banks have been involved for years in illegal off-the-books hanky panky involving vast sums (trillions) from various trusts. I think Basel-II would put an end to that.

Take a look at Story's report about this at:
http://www.worldreports.org/news/112_bush_criminal_operation_to_sabotage_basel_ii

BUSH CRIMINAL OPERATION TO SABOTAGE BASEL II

U.S. CRIMINAL OPERATION TO SABOTAGE BASEL II
The US Dark Forces led by Godfather Bush Sr., George Bush 43, Mk-Ultra ('Himmler') Cheney, the 'late' Henry M. Paulson, the late Robert M. Kimmitt, and their collaborators and partners in High Crimes and Misdemeanours, former President William Jefferson Clinton and Hillary Rodomski Clinton, have been desperately seeking, with the enthusiastic assistance of their co-conspirator Robert Rubin at Citibank, and the other US criminal financial institutions led by the CIA's Bank of America, to torpedo the implementation of Basel II, since it defangs their corruption at the source, causing the criminal kleptocracy immense problems for the future.

CLICK HERE FOR MORE OF STORY RE: BASEL-II

Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic.

[Steve_A]

Hi Zarathustra,

Wow! And that's a lot coming from me! If this has some truth, there could be a whammy about to happen.

Great piece of information. I'll keep my ear to the ground.

Thanks!

Best regards,


Steve


[QUOTE=Zarathustra;33415]THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

[SkyWatcher]

Wow, wonderful research.

What will Bush do when he wakes up tomorrow and it is now October 1st. Short sell here in the US will be released soon. Then what will they do?

So, the bottom line, to the bottom line is that TPTB are fighting for their lives and trying desperately NOT to be exposed.
I am watching the ABC new report and it seems that people still don't want a bail-out. They announced on National TV that the Congressional internet lines are jammed (People still saying NO).

Now the big Hook for the reporters is a credit freeze, because the bank's don't want to lend money.
This has become the new rallying call for the Gov.

Blessings,
Nancy

[Steve_A]

Hi Zarathustra,

Check this out:

http://www.opriskandcompliance.com/public/showPage.html?page=725309

I'm still scouring the web...

Best regards,

Steve

P.S. note the banks that are compliant.


[QUOTE=Zarathustra;33415]THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

[Steve_A]

Hi Zarathustra,

Basel II states (it's a little lengthy):

6. Capital helps protect individual banks from insolvency, thereby promoting safety and soundness in the overall U.S. banking system. Minimum risk-based capital requirements establish a threshold below which a sound bank’s risk-based capital must not fall. Risk-based capital ratios permit some comparative analysis of capital adequacy across banks because they are based on certain common assumptions. However, supervisors must perform a more comprehensive review of capital adequacy that considers the risks that are specific to each individual bank, including those not incorporated in risk-based capital requirements. In short, supervisors must ensure that a bank’s overall capital does not fall below the level required to support its entire risk profile.

7. Supervisors generally expect banks to hold capital above their minimum risk-based capital levels, commensurate with their individual risk profiles, to account for all material risks. Going forward under the advanced approaches rule, supervisors will continue to review the overall capital adequacy of any bank through a comprehensive evaluation that considers all relevant available information. In determining the extent to which banks should hold capital in excess of risk-based capital minimums, supervisors will consider: the combined implications of a bank’s compliance with qualification requirements for regulatory capital standards; the quality and results of a bank’s own process for determining whether capital is adequate (the ICAAP); and the bank’s risk-management processes, control structure, and other relevant information relating to the bank’s risk profile and capital level.7 This review is consistent with current supervisory practice, under which the agencies assess a bank’s overall capital adequacy through a comprehensive evaluation of all relevant information.

8. The supervisory review process assesses whether a bank has a satisfactory process to determine that its overall capital is adequate, and that the bank maintains adequate capital on anongoing basis, as underlying conditions change. For example, changes in a bank’s risk profile or in relevant capital measures are areas of particular focus that are effectively addressed through the supervisory review process. Generally, a bank should hold more capital for material increases in risk that are not otherwise mitigated, unless the bank already holds capital at a level exceeding what its internal processes and supervisors would regard as adequate. Conversely, a bank may be able to reduce overall capital (to a level still above regulatory minimums) if the supervisory review supports the conclusion that the bank’s inherent risk has materially declined or that it has been appropriately mitigated.

9. As a result of its comprehensive supervisory review, a bank’s primary Federal supervisor may take action if it is not satisfied that capital is adequate. The primary Federal supervisor may require the bank to take actions to address identified supervisory concerns, which may include requiring the bank to hold additional capital to bring capital to levels that the supervisor deems commensurate with the bank’s risk profile. In addition, the primary Federal supervisor may, under its enforcement authority, require a bank to modify or enhance risk- management and internal-control processes, reduce its exposure to risk, or take any action deemed necessary to address identified supervisory concerns.

Identifying and Measuring Material Risks

• Credit risk: A bank should have the ability to assess credit risk at the portfolio level in addition to the exposure or counterparty level. In making this assessment, the bank should be particularly attentive to identifying any credit risk concentrations and ensuring that their effects are adequately assessed. The bank should consider the various types of dependence among exposures, and the credit risk effects of extreme outcomes, stress events, and shocks to assumptions about portfolio and exposure behavior. The bank also should carefully assess concentrations in counterparty credit exposures, including those that result from trading in less liquid markets, and determine the effect that these exposures might have on capital adequacy.

Among others.... I'm still reading.

Best regards,

Steve



[QUOTE=Zarathustra;33415]THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

[Zarathustra]

Steve,

"The US has only adopted Basel II’s rules for its largest and international ‘core banks’ – such as Citigroup, JP Morgan and Bank of America. The comptroller of the currency said a rule for smaller banks could be expected in the second quarter of 2008."

Those are the 3 banks buying everything up right now, eh?

[Zarathustra]

"Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic."

Steve,

What I don't yet understand, and perhaps I'm overlooking the obvious, is how this bailout package will help to hide such crimes. Any thoughts?

[QUESTINY]

"Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic."

Steve,

What I don't yet understand, and perhaps I'm overlooking the obvious, is how this bailout package will help to hide such crimes. Any thoughts?

The bailout money could go on the books to shore up the minimum level to appear like the banks are trying to comply with Basel II.

A trade of bad paper for cash would meet the minimum requirement test. Also, eat up the smaller banks, put their deposits on the books to show more assets.

[Zarathustra]

The bailout money could go on the books to shore up the minimum level to appear like the banks are trying to comply with Basel II.

A trade of bad paper for cash would meet the minimum requirement test. Also, eat up the smaller banks, put their deposits on the books to show more assets.


Q,

If I understand you correctly, the 700 billion would prevent and international "outing" of the criminal banking by making them compliant. That does make sense, though why wait till the last minute? Of course they had to create the crisis "to be managed" in order to pull it off. I think there is something to this. It might also explain why the Fed lent out so much money the day after the vote failed.

[QUESTINY]

Q,

If I understand you correctly, the 700 billion would prevent and international "outing" of the criminal banking by making them compliant. That does make sense, though why wait till the last minute? Of course they had to create the crisis "to be managed" in order to pull it off. I think there is something to this. It might also explain why the Fed lent out so much money the day after the vote failed.

They didn't want to write the check. They wanted us to write the check. They waited to the last minute to see if it would actually go through. They wanted to see if the biggest bank heist in history would work. It didn't so they ponied up the cash to meet the deadline while trying to get still get reimbursed back from the the people...crazy theory huh?

[Zarathustra]

They didn't want to write the check. They wanted us to write the check. They waited to the last minute to see if it would actually go through. They wanted to see if the biggest bank heist in history would work. It didn't so they ponied up the cash to meet the deadline while trying to get still get reimbursed back from the the people...crazy theory huh?


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.

[QUESTINY]

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.

This might be why LEAP 2020 stated in February that a US and global collapse would happen around September. They knew of Basel II then. They also knew it would be impossible for the US to comply with the derivatives mess. This is an intentional take down.

[QUESTINY]

Here is the link to the LEAP 2020 article if you haven't seen it yet?

http://www.leap2020.eu/GEAB-N-22-is-available!-Global-systemic-crisis-September-2008-Phase-of-collapse-of-US-real-economy_a1298.html

[Zarathustra]

[QUOTE=QUESTINY;33564]This might be why LEAP 2020 stated in February that a US and global collapse would happen around September. They knew of Basel II then. They also knew it would be impossible for the US to comply with the derivatives mess. This is an intentional take down.[/QUOTE

Q,

Read the article, and I think you're right, or at the very least on to something that pierces the heart of the matter. Therein lies the rush, the panicked Congressman after the meeting with Paulson, Bush looking like he's been on a 10 day bender on tv, etc... If these things are true, then the illuminists that have run the U.S. economy have either a) overplayed their hand greatly, and are facing enourmous international and domestic blowback, or b) executing a defined agenda and prepping for the endgame.

[QUESTINY]

Plan B is what my heart tells me

[QUESTINY]

Also, it fits in to Congress waiting to Thursday to look at it again. Not the 1st but the 2nd of October to see what blow back transpires?

[Zarathustra]

Plan B is what my heart tells me

If elections are not suspended, then perhaps we look to the BIS audit as a culminating point?

[QUESTINY]

If elections are not suspended, then perhaps we look to the BIS audit as a culminating point?

When the Bank of International Settlements looks at the books it will be to late...it will only verify the banksters worst fears. The take down of the US economy by TPTB are weeks away.

[Love/Light 13]

Q and Z-

I remember hearing George Green state that the IMF was going to demand an audit of the Fed if the U.S. banks did not get their act together by October 1st, due to the new fiscal year. This clearly ties into what you are stating with Basel II.

Do either of you know who impliments the Basel II program, or who established the law?

It seems to me the American people are ready for vengance........more like a peaceful vengence though, if that makes sense. Maybe the paradigm shift will be a move towards ethics and personal responsiblity. A bringing to justice of the perpetrators of these high crimes we all speak about. We need that. The Mayan calander, for instance, does allude to the transition from the current period of power dominating the earth, to a period dominated by "ETHICS". Any thoughts??


**************************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

[sfth13]

Also, it fits in to Congress waiting to Thursday to look at it again. Not the 1st but the 2nd of October to see what blow back transpires?

looks like they are going to vote on this tomorrow after sundown

http://money.cnn.com/2008/09/30/news/economy/bailout_tuesday/index.htm?cnn=yes

[Zarathustra]

Also, it fits in to Congress waiting to Thursday to look at it again. Not the 1st but the 2nd of October to see what blow back transpires?

Interesting point.

When the Bank of International Settlements looks at the books it will be to late...it will only verify the banksters worst fears. The take down of the US economy by TPTB are weeks away.

I agree Q, though the situation may continue to be "floated" until the audit is complete in order to move the pawns into final place. Or, the move could be made prior to the audit beginning. Starting to see the timing of the Iraq battalions being deployed domestically in a new light.

Q and Z-

I remember hearing George Green state that the IMF was going to demand an audit of the Fed if the U.S. banks did not get their act together by October 1st, due to the new fiscal year. This clearly ties into what you are stating with Basel II.

Do either of you know who impliments the Basel II program, or who established the law?

It seems to me the American people are ready for vengance........more like a peaceful vengence though, if that makes sense. Maybe the paradigm shift will be a move towards ethics and personal responsiblity. A bringing to justice of the perpetrators of these high crimes we all speak about. We need that. The Mayan calander, for instance, does allude to the transition from the current period of power dominating the earth, to a period dominated by "ETHICS". Any thoughts??


**************************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"


I don't know who implements Basel II, although my guess would be IMF, run by the European Rothschild faction of the Illuminist (see Benjamin Fulford's assertion that there has been a split between them and the American "Rockefeller" faction). I see you point about ethics. Just remember, as Nietzche so eloquently laid out in "Beyond Good and Evil", ethics and morals are relative concepts, not absolutes. All I mean by that is it will have to be "created", not simply "arrive". There will be much pain, as described by Greene, in the short run.

Z

[sfth13]

Q and Z-

I remember hearing George Green state that the IMF was going to demand an audit of the Fed if the U.S. banks did not get their act together by October 1st, due to the new fiscal year. This clearly ties into what you are stating with Basel II.

Do either of you know who impliments the Basel II program, or who established the law?

It seems to me the American people are ready for vengance........more like a peaceful vengence though, if that makes sense. Maybe the paradigm shift will be a move towards ethics and personal responsiblity. A bringing to justice of the perpetrators of these high crimes we all speak about. We need that. The Mayan calander, for instance, does allude to the transition from the current period of power dominating the earth, to a period dominated by "ETHICS". Any thoughts??


**************************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"


I've been searching trying to find that myself, this all i could find

http://www.bis.org/bcbs/index.htm

[Zarathustra]

I've been searching trying to find that myself, this all i could find

http://www.bis.org/bcbs/index.htm

I think that answers it pretty well, the BIS, controlled by the Rothschilds.

[QUESTINY]

Nout Wellink is the mastermind behind the Basel II. I'll give you three guesses who he is the chairman of and the 1st two don't count...hint BIS

[painter]

The Fed simply does not have enough cash (assets) on hand.

See here:

http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=240033


"Officials from the US Treasury Department, Japan's Finance Ministry and the European Central Bank reportedly drew up a currency contingency plan over the weekend of March 15-16, the Nikkei said, citing sources familiar with the situation. "


Notice the date!


Bernenke, Paulson and Bush were still assuring us that the "economy was on solid ground" back then.

Now Bernanke is throwing gas on the fire and doing everything he can to scare the crap put of the ordinary folks in the USA. The hyperbole is surrealistic. MSM is lapping it up like the parrots that they all are.


Bernanke tried his hardest to pillage the tax payers one more time.

Here is a link to a logical plan, doubtful it will ever get implemented though....


http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=240115

[sfth13]

I guess that's why they are going to vote on the bailout again tomorrow night ......after sundown

[Zarathustra]

Nout Wellink is the mastermind behind the Basel II. I'll give you three guesses who he is the chairman of and the 1st two don't count...hint BIS

This, to me, lends weight to Fulford's contention that there has been a split between the European 'Rothschilds' and the American 'Rockefellers'.

The Fed simply does not have enough cash (assets) on hand.

See here:

http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=240033


"Officials from the US Treasury Department, Japan's Finance Ministry and the European Central Bank reportedly drew up a currency contingency plan over the weekend of March 15-16, the Nikkei said, citing sources familiar with the situation. "


Notice the date!


Bernenke, Paulson and Bush were still assuring us that the "economy was on solid ground" back then.

Now Bernanke is throwing gas on the fire and doing everything he can to scare the crap put of the ordinary folks in the USA. The hyperbole is surrealistic. MSM is lapping it up like the parrots that they all are.


Bernanke tried his hardest to pillage the tax payers one more time.

Here is a link to a logical plan, doubtful it will ever get implemented though....


http://www.libertypost.org/cgi-bin/readart.cgi?ArtNum=240115

This lends weight to Questiny's contention that the money the Fed has pumped in since Monday was 'contigent' on getting the bailout passed so the Treasury, via the taxpayer (though the taxpayer ultimately pays the Fed's bills as well, plus interest) could then refill the Fed.

I guess that's why they are going to vote on the bailout again tomorrow night ......after sundown

...see previous statement...

[Greg10036]

This is wonderful information. Thank you for posting it.
g.

[sfth13]

makes sense the way you all layed it out. now we just wait and see, should be interesting.

[Zarathustra]

This is wonderful information. Thank you for posting it.
g.

You're welcome G.

makes sense the way you all layed it out. now we just wait and see, should be interesting.

I agree.

[Love/Light 13]

Z-


I believe that if the IMF announces an audit of the Fed, it is an indicator that the Rothschild faction is ready to stick it to the Rockefeller/Israeli faction, and wants to bankrupt the US oil slinging tycoons. The problem for the Rothschild/Illuminati is that they are bankrupt themselves! It appears the end of Western world domination may be coming to an end. Russia, China, and Iran may be forging a powerful alliance that does not need the European/US contingent. Talk about a paradigm shift.

********************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

[Zarathustra]

Z-


I believe that if the IMF announces an audit of the Fed, it is an indicator that the Rothschild faction is ready to stick it to the Rockefeller/Israeli faction, and wants to bankrupt the US oil slinging tycoons. The problem for the Rothschild/Illuminati is that they are bankrupt themselves! It appears the end of Western world domination may be coming to an end. Russia, China, and Iran may be forging a powerful alliance that does not need the European/US contingent. Talk about a paradigm shift.

********************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

L, You may very well be right, though I don't think that anywhere in the world is going to be impacted as deeply as the U.S. Therefore, they may be able to "stick it to the US" as you say while suffering manageable damage themselves. Certainly Russia and China have asserted themselves recently, so there is great merit to that comment.

Z

[Love/Light 13]

Z-


I do agree the US may take the hardest "fall" simply because they are the world's only superpower, I believe exposure of the Illuminati/Rothschild agenda may be in order. While this is highly speculative, it is my educated hunch. If this is the case, the real victim will be the Vatican. The exposure of the greed and excess of the Papacy will permanently shift the power structure of the planet away from the Israeli/Judeo-Christian Zionist prophetic timeline...........


L/L 13

[painter]

Z-


I believe that if the IMF announces an audit of the Fed, it is an indicator that the Rothschild faction is ready to stick it to the Rockefeller/Israeli faction, and wants to bankrupt the US oil slinging tycoons. The problem for the Rothschild/Illuminati is that they are bankrupt themselves! It appears the end of Western world domination may be coming to an end. Russia, China, and Iran may be forging a powerful alliance that does not need the European/US contingent. Talk about a paradigm shift.

********************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"


Bush was read the riot act over three months ago by the European powers (banking / criminal syndicate). He essentially promised to do what ever was needed to quell the storm....if in return they would delay the opening of the Fed's "off market" books.....effectively showing the world that they are broke, until he was out of office and safely holed up in South America on his newly purchased ranch.

Such are the perils of "incremental banking" laws. A house of cards will now come tumbling down.

[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



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

[Zarathustra]

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.

[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


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

[PTTurboe]

Great thread!

[Bagatell]

I thought this (http://www.whatdoesitmean.com/index1148.htm) 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?:welcomeani: