OH SHIT -- CITIGROUP GETS SUNDAY NIGHT BAILOUT
I absolutely do not believe this. But I do. It is 10:16 PM PST on Sunday, Nov. 23rd. This story broke in the last twenty minutes. Since I sent my last post! Now let's get this straight... The automakers flew in their private jets twice to attend open public hearings in congress and get their feet fried. But they showed up and they answered questions. They got nothing. But Citigroup -- one of those "Wall Street banks" that started all this mess -- gets into well-deserved deep doo doo and it receives 25 billion plus a lot more over the weekend?... with no hearings?!!!... Sure, Paulson had that authority under the TARP bill. But can anyone imagine a more direct slap in the face to the American people. Citigroup just got the BigThree's money! And congress is going to take a huge hit for this. Save a big bank but put nine or ten million out of work. No problem.
That's how the American people are going to see this.
Whoaaaaaaa doggies! Everybody put on your football helmets, grab a beer, and sit back in a safe corner to watch. Take some food too. Because there is going to be one hell of a marathon barroom brawl starting any second now. That should distract everybody long enough for a few more trillion to be stolen. Wait... I just heard a big thud... Oh, that was two simultaneous thuds. One was Hank Paulson landing on someone's roof after being thrown and the other was Tim Geithner fainting. No... wait. There's more. I just heard shots fired in a few corporate-owned major media outlets. There's a battle going on over whether they'll report things the people can easily see for themselves, or whether they will continue to feed a corporate propaganda that's wearing very thin... People are reading the map. Lots of people.
See what I mean?... Openings!
Tick, tiick, tick... The Bush-Cheney endgame continues.
OK, someone check the Vegas odds on us actually having an inauguration. This is just insane... And so obvious!
MCR
http://money.cnn.com/2008/11/23/news/companies/citigroup/index.htm?postversion=2008112400--
CITGROUP IS FALLING AND ASIA IS STANDING BACK
Asian markets see the writing on the wall. In the meantime the government is signalling a half-assed bailout in quiet, weekend leaks. This is a recipe for mayhem and, at this point, I must assume it to be intended. If, on the one hand, the US is trying to assuage Asia with this nonsensical trial balloon, it signals how far out of control things are. Asia knows that a 150-pound fisherman just hooked a 250-pound Marlin; and the fisherman ain't strapped in. On the other hand, if this maneuver is purposeful and deliberate, the theBush-Cheney end game has entered warp drive for its last phase. It just seems appropriate to say "Oh shit!" right about now. You just couldn't write horror like this.
Citigroup's "Bad-Bank" idea is one of the most brazen thefts I have ever seen.
"Here! Let's just take all our criminal crap, tie it up in a bow, and flush it through the Treasury. We've already gotten the wealth out of it. It's just another anchor to drag down anyone who might object...After all, people who are starving rarely have enough energy to revolt." -- Well, something happen in Russia. Oh yeah, and in Weimar Germany.
FOR THE RECORD: Tonight I believe I have received a warning (not a threat, a warning) that my life may be in danger from someone qualified to know such things.
Oh God I hope so.
MCR
http://www.reuters.com/article/newsOne/idUSTRE4AL0OO20081124
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN2347848520081124
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War Games, 2008
Relax, at least so far as these war games go. This is not by way of warning. History repeats itself but never verbatim. Keep your well merited anxieties directed towards the economy.
Free Documentaries
The good, the bad, the compromised by mis- or disinformation and the interesting.
Free Buck
Crime of the Century Movie
About the global economic crash caper.
Alison Johnson Memoir
Memoir about a father who stashed two tons of gold and silver coins in buildings he owned in a God-forsaken Nebraska town, without leaving clues as to where they were. By a woman who made a documentary about 9/11 health consequences focussing on Multiple Chemical Sensitivities.
From the "Not All The News Is Bad" file
Two minute video about reunion between man and former pet lion, the latter now all growed up and living with his new, species-appropriate family.
I spent four years in London as a child and remember the pet department at Harrods where you could pick up a baby jaguar. (That's where Christian, the star of the youtube video, came from, at least as far as his first owners were concerned.) There's something to be said for living in a country that hasn't strangled itself with red tape. On the other hand, doctors who've worked in both systems maintain that the litigiousness here does elicit greater care, believe it or not.
FOIA Guide, 2008
JO
I heard a bit on NPR radio this morning about how letting Lehman Brothers "fail" was what really sent the US and World economy into the death spiral it's in now.
ReplyDeleteIt's often been asked why everyone else got the money bags from the Feds, but not Lehma Brothers.
Was that the plan all along? Use them as the plug being pulled from the drain on the economy? And now the pull from the resulting whirlpool has gotten out of control?
namaste
MCR - just want to send you congratulations on being right about Citigroup. I know it may not be the kind of congratulations that fills you with happiness, but it's important in troubling times to have someone who is not afraid to tell the truth. Take care and good luck getting your new book published.
ReplyDeleteyou're probably not related but i'm sure mike will be gratified to get congrats from a paulsen.
ReplyDeletetest only
ReplyDeletetest only
ReplyDeleteI havent caught up on the last thread, but I wanted to post my "HOLY SHIT!!!!!" here too.
ReplyDeleteA couple of days ago a hero of mine said,...
"I give Citigroup two and a half weeks at most. It might well fall sooner and there will be no bailout. That would start a revolution I think."
I'm Ready.
On that subject I ABSOLUTELY agree with your "hunker" mentality for now.
I think the WORST that could happen at this point is nothing. I can't wait to see my countrymen get PISSED off enough to start reading something other than the TV guide!
I wonder how the Ministry of Truth is going to report this?
NB, Get ready for the worst to happen, as long as the Prozac prescriptions keep getting filled and the TV Guides/People Mag and ENews keep the masses informed on the stuff that matters I am not seeing any matches striking for all that gas spilled on the pavement.
ReplyDeleteUAW should be all over this news. The only hope is that these folks are loading up their F150's as we speak with the pitchforks and the Brass stuff. They could not have gotten a bigger middle finger from Treas/Fed than this. If they are not inflamed over this we might as well push the flush handle on this BIG TURD PILE and help it all along with a big bucket of water.
I don't know Hank, I doubt I'm related, but I have a feeling that if he had a message for Mike, it would be less like "congrats" and more like "STFU". Then again, his job will be done in 57 days, why not be magnanimous?
ReplyDeleteAlso wanted to say that like NB Patton, I'm ready for the revolution, wondering what revolution would best help the people. I recently finished reading Secrets of the Temple by William Greider and was fascinated by his account of the Populists, particularly their activity pre-William Jennings Bryan, when they were advocating the sub-Treasury plan authored by Charles Macune. Is it possible that a 21st century equivalent plan could be instituted, or has habitual outsourcing negated that possibility? What is the best way to change the way money works?
Once again Nostrada...er, MCR was right. With the Citigroup news, (and America's aloof response to it) I'm not quite sure what its going to take for people to see the light. Proof positive that whatever 'alert and knowledgeable citizenry' we one had, and that Mr. Ike Eisenhower alluded to all those years ago is all but dead.
ReplyDeleteThe only thing that keeps that small little glimmer of hope alive are those on this blog. /Salute to those in the know.
And Mike, please stay safe and strong.
Well, I was half-waiting for the announcement of an eleventh-hour bailout, and it indeed came. More billions spent on assets that are actually worth a fraction of their book value. I continue to be impressed by the ingenious techniques that elites use to rob us.
ReplyDeleteOn a completely different subject, yesterday's newspaper had an article about the state of the trucking industry here (Japan). With the recent precipitous drop in fuel prices, you might be forgiven for thinking that truckers are making money again. But such is not the case. Fuel is still too expensive for them, and truckers are also struggling with a decline in volume. Trucking company bankruptcies continue to increase.
We've been referring to the failing banks and auto-makers as falling giants and dead elephants.
ReplyDeleteUpon seeing news of this bailout early this morning, I was instantly reminded of an experience I had one afternoon in the bush in Kenya: encountering a rotting elephant carcass. The stench seared my nostrils, and etched a place in my memory.
I read the news today (oh boy) and for an instant I could swear I caught a whiff of that rancid corpse again.
Something stinks here, and more and more of us are starting not to like it, as people begin to see what's going on.
MCR has discussed waiting for opportunities, chinks in the armor...I see the armor corroding, and hope the rust begins to fall off in larger and more obvious chunks.
Mike,
ReplyDeleteLook at it this way!
TPTB spent $20 billion to prove you wrong. You're right in every other respect as the facts are unfolding.
You're powerful and a genius.
Linda Ush
Ithaca Hours
ReplyDeletehttp://www.ithacahours.com/
the best known (at least to me) alternative currency in existence
Victoria:
ReplyDeleteI am realizing that horror first hand as the several I have told today gave me a hollow 1000 yard stare complete with obligatory nods and "oh wows". I fear you are so absolutely correct; They won't awaken from their stupor until someone disables their Buy-N-Large Hoverchair. By that time it will be exponentially less likely for them to even find the map and for us to reclaim our republic. I hope I'm wrong.
Robert Paulsen:
Hooyah sir; pickets or (God forbid) pitchforks, I'm there!
Djmagic:
I see it too, I just hope we define it clearly as what they really are - the opportunities brought by the chaos and collapse of a transition in paradigms, not brought by a new puppet in the white house.
MCR:
Regarding your last blurb; besides the obvious "keep your head down". I would like to also mention that this blog is not just a haven for critical thought, we are all your brothers and sisters in this foxhole and if push comes to shove I hope you would utilize us. Speaking for myself, there is friendly room and board with your name on it and no strings, ready 24/7.
I just have a simple question for you Mike. Why did you believe that they would let Citi fail with no bailout attempt?
ReplyDeleteMike
ReplyDeleteI have and will continue to send you love and light in the hopes of helping protect you from those who would harm you, but of course, when you are ready to go I wish you well, this life or the next. You are the one who shaped my political views and I thank you from the bottom of my heart. I hope you are around to learn from for a long time to come.
Well, I think I have an apt analogy for the Citi bailout, inspired by the fact that I butchered my first bovine yesterday (by myself, till 11:00 pm last night--quite an experience).
ReplyDeleteHere you go. You have a large, lush pasture and I have a young calf. You of course have paid for the pasture, fenced it, brought in water, mowed it to keep the weeds down, overseeded it with alfalfa and other prime forages.
I come along with my calf and let you know that with your pasture and my calf we can do some great things together and you buy in.
So for the next year you care for the growing animal while I live the high life in town (while having an affair with your wife on the side).
At the end of the year, I come and pick up the prime steer and send it off to the butcher. I also send the following email to you.
"To whom it may concern: I've changed my mind about the deal we had. I'm going to keep the steer for myself and I'm giving you back all your grass--in fact the steer has already returned it to your pasture. Sorry the deal we had didn't work out (and thanks for the use of your wife)."
regards,
your friend forever
I've been reading posts on other blogs and it appears that people are at least a little more open to alternate explanations of how we got here and where it's headed.
ReplyDeleteI've been including references to Crossing the Rubicon, www.fromthewilderness.com and this blog to get people to at least look at the information and to start questioning.
I find it encouraging that the references are at least being posted. Before they would just magically disappear into cyberspace never to be seen.
MCR - Thank you for being who you are and doing what you've been doing,
namaste
Riots in Iceland over the collapse there:
ReplyDeletehttp://www.iht.com/articles/2008/11/23/europe/iceland.php
Will America ever rise up and force change? I begin to wonder if the current administration wasn't entirely successful in convincing the people that protest, although acknowledged, will not have any effect. Look what happened to the Iraq Anti-war movement which is so marginalized as to be nearly invisible. Are Americans now convinced protest in the streets has no effect? Are they fully numbed?
Sorry for the interruption in this thread but, I am trying to make the best out of this format of discussion as I understand that Mike is busy finishing his second book and that a real forum is not possible at this time.
ReplyDelete___________________________________
What an interesting debate between NB Patton (3:58PM) and Hikikomori (3:23pm) in the blog titled "Judging me, judging Obama !!! For the one that did not read it, go and read.
The 2 bloggers have 2 different perceptions of Obama's last appointments and decisions.
These 2 divergent opinions could in many ways lead to either life or death situation. Who's right? Or is it possible that both of them have a pint of truth in their arguments? This reading should enrich your own perception of the current situation and feed your actions' mode. It did for me.
Hikikomori is saying mostly that OBama is careful in his appointments and is mostly feeding the wolf while preparing the protection of the sheeps and that we need to be patient and give the man a chance.
TB Patton is responding to Hikikomori with sharp arguments that convey the message that actions by the people are urgently needed, especially given US history and the latest appointments from Obama. He summarizes his argument with the following citation: "It is better to die on your feet, than to live on your knees."
What to make out of these 2 perceptions? Well, first of all, I would definitely take the 2 protagonists in my camp as they seem to be of good willing and secondly because they balance each other with their opinion/approach which surely clarify my own understanding of the map, and what needs to be done.
One (Hikikomori) is being cautious about expedient move against a possible "protector" (Obama) of the people, and the other (TB Patton) being cautious of not providing an other opportunity to the possible "protector", as he could throw the last blow to the people of America, like old rulers did in the last 200 years or so.
What's your take on it?
Again, I insist that in light of the above, the ultimate winner will definitely be the one that builds, maintains, consolidate and protects any means that can allow people to better support each other in the wake of a scarcity in public services (other than military).
Peace on all of you.
PS: Sorry about my English, it is not ma native language.
More on silver market manipulation, from GATA's companion site, silverseek, Ted Butler's "Taxation without Representation".
ReplyDeletehttp://news.silverseek.com/TedButler/1227634141.php
I found Mike's Video's on Youtube and Ive been hooked since then, the last 8 months have been one heck of a journey looking into all this, My eyes are wide open and Im sharing info with people who are truly interested in knowing the truth, sorry to say, so many have their head in the sand, But Ive learned I cant change that,
ReplyDeleteThanks for opening my eyes