Representative Paul Kanjorski (D-PA) appeared on C-Span on January 27, 2009 and told an astonishing story of how the financial crisis started. See photo and video below.
Rush Limbaugh picked up this story and appears to be the only one talking about it in the major media.
The bottom line, according to Kanjorski, is that on September 18, 2008 at 11 a.m. some $550 billion dollars disappeared from America’s money market accounts - all within a one to two hour time frame.
The U.S. Treasury poured $105 billion dollars into the system and realized they couldn’t stop the drain. They closed down all accounts. Without doing so, they estimated by that afternoon, $5.5 trillion dollars would have been drawndown, resulting in the collapse of our political and financial system - and not just the U.S. but around the world.
Rush asks: who was trying to bring down the American economy? He speculates:
Could it have been George Soros? Could it have been a consortium of countries — Russia, China, Venezuela — countries that are eager to have Barack Obama elected because they know that will make it easier for them to continue their own foreign policies in the world?
He also wonders how much exaggeration, if any, is in Kanjorski’s story.
Someone knows how this happened and who was behind it. When you think about the financial crisis, do you realize that you just got up one morning and there it was. It was odd. This is a discussion by husband and I have had numerous times. We turned on the television and the drama began.
Read the story and commentary at RushLimbaugh.com. I think it will take your breath away.
Paul Kanjorsky: Financial Crisis of 2008 (Photo)
Paul Kanjorski: Financial Crisis of 2008 (Video)
February 11th, 2009 at 10:11 am
Bush did it. Although he is not smart enough to but then he blew up the levees in New Orleans and crash 2 planes into the world trade center.
Bush is the devil and Obama is God.
Bush Bad. Obama Good.
Sorry, I have read that too many times.
I think there is an effort to ruin us financially from the inside out with the help of someone on the outside. Since we can’t use the t-word any more, I guess we have to call this Financial Criminal Naughty Activities
I say if this is true, we need to find them and get them some counseling and much needed love. They are basically good people but just misunderstood.
February 11th, 2009 at 12:20 pm
Maggie, I can’t believe you picked up on this. When I heard Rush talking about this yesterday, I changed the station. It’s a conspiracy theory not worth listening to.
Even Rush admitted that to begin this argument you have to take what this one Democrat Congressman said one time is fact. I’ll bet he was talking out of his @ss cause he was trying to justify mass deficit spending. But anyways,
Assuming that we’re accepting the mass withdrawal as true, think about the rest of the scenario: Hostile foreign governments coordinated a punctuated withdrawal of money to precipitate market panic and get Obama elected. Sheesh.
For arguments sake I’ll accept Rush’s assumption that hostile foreign governments were rooting for Obama in the first place. Given that assumption, I’ll ignore the logistical impossibility of these governments coordinating on this without our intelligence services finding out, and I’ll also ignore how unpredictable the results would be if they were able to communicate and coordinate on this.
So let’s tackle the question, would the hostile governments go through with this, if they could?
Let’s say those Governments are… China, Venezuela, Iran, Russia, and North Korea.
North Korea: Can be discounted immediately, mostly because they don’t have enough power. They don’t have enough money, and they don’t really have any strong international allies.
China: I mention only because Rush did. Otherwise I would think it was obvious that China has no interest in an economic collapse, nor political change. In the interest of free trade, the Bush administration has had almost zero conflicts with China. I don’t recall McCain talking tough. On the other hand, Obama was pretty silent about dealing with China, and has even alluded to some protectionism which hurts global markets. His treasury secretary criticized China for manipulating it’s currency thus giving it an unfair advantage in global trade, which the Bush administration was silent on. That really pissed China off. Not only that, but China owns so much US debt, our economies are practically symbiotic. If treasury bill go into deflationary mode, China loses trillions of dollars. They’re also net exporters so an American recession kills their economy. China has absolutely positively no benefit from an Obama Administration or financial collapse of US markets. Mentioning China was just… dumb.
Venezuela, Iran, Russia: I would separate these if I were writing a book on it. Our stance towards the respective countries are barely comparable. But topically they can be grouped together because they have one main reason to NOT screw with the US economy. They are oil powers. When the markets crashed, energy was hit especially hard. And that WAS predictable. Every one knew that energy prices were at least half speculation based on growth. When the global markets crashed, these powers found their purses empty, with less money to make trouble. When oil prices are low, these guys have less power. That is another reason these countries would probably not have wanted an Obama administration. Democrats are whores for alternative energy. They seem to be willing to pay significantly more per kW for energy that is low-carbon. The merits of that are debatable, but one obvious result is that an America that reduces oil demand, reduces world demand, reduces petroleum prices.
In conclusion, Rush should stick to talking about Porkulus, where he at least doesn’t sound like a conspiracy theory jackass.
If you think this has merit, I’m surprised you haven’t been screaming about how Communist Russians have been preening Obama for the Presidency for 20 years:
www worldnetdaily com/?pageId=88439
February 11th, 2009 at 12:22 pm
Have I been blocked? Just testing. I tried posting a response but can’t see it. Maybe it was too long?
February 11th, 2009 at 12:27 pm
Crap. Apologies for the dual post. Server must have been busy. Wait … “awaiting moderation?” RightPundits has a file on me?
February 11th, 2009 at 8:41 pm
@LeftRightLeft: I agree with much of what you said, and Rush speculated, and said he was speculating. But consider this:
Kanjorski is a U.S. Representative. He went on C-SPAN - not some crazy morning talk show - on C-SPAN and made some very, very specific claims.
At 11 a.m. Sept. 15th…$550 billion drawn out of money markets in two hours or less. I think we do not ignore this.
I think his C-SPAN taping was January 27th. Haven’t had a single person say Kanjorski doesn’t know what he’s talking about. Not a word. Believe me, if it did not have some truth about it, we would have Washington speaking out.
It’s not about Rush. He’s just like us. He finds this video and he speculates - because someone MUST.
I can see Venezuela, Iran and Soros in this, but who knows…
Your reasoning about why some countries would not want to mess with the U.S. economy is well thought out, but really, these people are not stable. It is about their power, and the wealth of their country is not the issue, the wealth of the dictators will be there regardless. It always is.
Here’s the question, a U.S. Rep. goes on C-SPAN and leaves this little video trail and we do nothing?
No, the next thing is, someone must make Kanjorski and others get out front and start talking again.
February 20th, 2009 at 1:05 pm
Who did it? Well the same people who did it in 1929. The same modus operandi.
See for more information:
http://www.henrymakow.com/conspiracy_classic_contains_ma.html