Pyramid Comment: Banking Panic

Black Wednesday: 16th September 1992

Black Friday - a cynical 'new term' being promoted (2011) that is supposed to indicate when an account in the red (debit) goes into black (credit)

In British politics and economics, Black Wednesday refers to the events of 16 September 1992 when the Conservative government was forced to withdraw the pound from the European Exchange Rate Mechanism (ERM) after they were unable to keep sterling above its agreed lower limit. The most high profile of the currency market investors, George Soros, made over US$1 billion profit by short selling sterling. In 1997 the UK Treasury estimated the cost of Black Wednesday at £3.4 billion

Financial Crisis Unfolded - The Global Conspiracy (2009)

The economy was "fundamentally sound" according to politicians, but from 29th October 1929 onwards: The Great Depression. Meanwhile, European economies were in trouble, and in Austria when Creditanstalt followed many of the German banks into liquidation (1931), the future seemed worse and Governments were falling and nations came off the Gold Standard.

Extract:

Where did the original wealth begin? That's an easy one:

Earth's resources

"Wealth doesn't grow. It declines. New sources of a known resource may be located or a different one altogether, but unless something is replaced it will all become exhausted."

Or redesign the original creation

Appropriation is a euphemism for theft: "...the invaders seized the land and property of the inhabitants..." "...the army seized the town..." Sounds like the invasion of Iraq. Little wonder the inhabitants are hostile. Nazism The Nazis triumphed in 1933, but America came off better. Hitler ( Rise -> 1932)

Extracted from Wikipedia:

In 1932, Hitler intended to run against the aging President Paul von Hindenburg in the scheduled presidential elections. Though Hitler had left Austria in 1913, he still had not acquired German citizenship and hence could not run for public office. In February, however, the state government of Brunswick, in which the Nazi Party participated, appointed Hitler to a minor administrative post and also gave him citizenship on February 25, 1932.^[35]

The new German citizen ran against Hindenburg, who was supported by a broad range of reactionary nationalist, monarchist, Catholic, republican and even social democratic parties, and against the Communist presidential candidate. His campaign was called "Hitler über Deutschland" (Hitler over Germany).^[36]

The name had a double meaning; besides an obvious reference to Hitler's dictatorial intentions, it also referred to the fact that Hitler was campaigning by aircraft.^[36] This was a brand new political tactic that allowed Hitler to speak in two cities in one day, which was practically unheard of at the time. Hitler came in second on both rounds, attaining more than 35% of the vote during the second one in April. Although he lost to Hindenburg, the election established Hitler as a realistic alternative in German politics.

Chancellor Hitler (30th January 1933)
Reichstag Fire (27th February 1933)
Hitler Becomes Dictator (5th March 1933): 6 days later
Enabling Act (23rd March 1933): 18 days later
George W Bush (43rd US President)
World Trade Centre (11th September 2001)
PATRIOT Act (26th October 2001): 45 days after the 'attack'
PATRIOT Act (see also) IMF
Keynesian Monetary Theory
Welfare State
Welfare State - for the wealthy
World Bank

The availability of cheap credit and deregulation of financial institutions resulted in the 'property boom'. This slowed and stopped because oil prices soared. Many gained a relatively healthy profit, but a smaller sector made a real killing. Soaring oil prices and the protection of the banking system. Where the real money is and it isn't the symbolic "folding stuff".

The real wealth is in control and influence

Pyramid Comment

Wednesday, October 31, 2007

Banking Panic - The Plan (2)

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