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Title: THOUSANDS OF CURRENCIES WERE CREATED DURING THE GREAT DEPRESSION
Source:
YouTube
URL Source: http://video.google.com/videoplay?d ... i=oC-CSLasIYuGrgPH37ibBQ&hl=en
Published: Jul 19, 2008
Author: Unknown
Post Date: 2008-07-19 14:22:17 by Uncle Bill
Keywords: Become, Elite, Print Money
Views: 175
Comments: 13
American Response to the Great Depression 
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#3. To: Uncle Bill (#0)
hi Bill, great to see you. you've been missed.
Hi christine. God Bless you! Stick around. We're entering the initial stage when the government's banksters gets to confront people they normally never have to deal with, and their international fractional reserve fiat buttholes pucker so much it slips up over their heads and chokes them to death. Should be interesting.
well, that creates quite a visual! ;)
#13. To: christine (#9)
They're going to the bathroom now to call in their panic. 8-) Wall Street's collapse: who is next? James Doran in New York The Observer, Sunday July 20, 2008 In the middle of last week, as the shares of almost every American bank were sliding south faster than an Arctic ice shelf, panic stultified even the highest echelons of Wall Street. 'I got a call from a partner at a major Wall Street brokerage, I won't say which one,' says Brad Hintz, chief Wall Street analyst at Sanford C Bernstein & Co, an independent asset manager. 'He was literally in the bathroom and in all seriousness he called me to ask me if I thought his firm, where he is a partner, was going to survive,' Hintz says. 'I find that kind of panic incredible.' US banking shares recovered much of their lost ground as the week wore on, but the underlying fear that America may soon suffer a wave of banking failures still looms large in the minds of traders and bankers alike. So far Bear Stearns, one of the big five investment banks on Wall Street, has collapsed, while two weeks ago Indymac Bank, a Californian mortgage provider and high street bank, was closed down. Now there are fears that Lehman Brothers, another big Wall Street bank, might be next to go under, while US regulators have drawn up a list of at least 90 banks said to be in a critical condition. The expected blood bath in the banking sector is just the latest fallout from America's housing market collapse and the credit crunch, which have battered the US economy for almost a year. As house prices continue to fall, banks that hold billions of dollars of mortgages on their books - like Indymac - are faced with investors selling off shares in record numbers and depositors withdrawing their cash in a panic. This fatal combination leaves such banks virtually worthless, and powerless to weather the continuing economic storm. Hintz, meanwhile, adds that a continued freefall in banking shares would wipe out billions of dollars worth of personal wealth in America, which would have a disastrous effect on the wider economy. Wall Street's most powerful executives have billions of dollars tied up in the weakening shares of their institutions. 'We are running out of options,' Hintz says. 'You cannot tell people that this is a problem that will fix itself any longer. Many people on Wall Street have never seen a downturn like this last this long. And that makes them very unsettled. None of them were around to remember the Great Depression.' Hintz recalls his father, who lived through the Depression, telling him stories of how his family survived by eating nothing but oatmeal for two or three weeks at a time. 'My father is still alive; these are things we have endured within living memory,' Hintz says. 'People are beginning to think there could be a possibility we may endure them again.' About this articleClose This article appeared in the Observer on Sunday July 20 2008 on p5 of the Business news & features section. It was last updated at 00:02 on July 20 2008.
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#8. To: christine (#3)
#9. To: Uncle Bill (#8)
and their international fractional reserve fiat buttholes pucker so much it slips up over their heads and chokes them to death.
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