$550 Billion Disappeared on September 15, 2008 “Electronic Run On US Banks”

Well it didn’t disappear, but a bunch of rich somebodies took there money out of the bank within a few hours. I find that strange. I also find the lack of coverage on this strange. I unfortunately don’t have the resources to check this out, but someone who does: Maybe some unemployed journalist with some free time and an employed spouse or trustfund could check this out.Would this be a taxable transaction?

Isn’t this how the Great Depression started?

Here is a transcript of what Rep Kanjorski says in the video:

On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.

Money was being removed electronically.

The treasury tried to help with $150 Billion.

But could not stem the tide.

It was an electronic run on the banks

The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy.

By Browne Molyneux

H/T to Infowars

This entry was posted in history, La Crisis, Media, Politica by Browne Molyneux. Bookmark the permalink.

About Browne Molyneux

My name is Browne Molyneux. I'm a lady. I'm a radical feminist. I'm black. I'm an Angeleno. I'm an artist. I'm carFREE. I'm a freelance writer. I'm a blogger. I'm a philosopher. I'm a humanist. I'm a journalist. I formerly wrote a column on transportation, Tracks for LA City Beat. The above are all of the things I have to work on being, got questions email me. browne@shametrainla.com My topics of interests include but are not limited to politics, transportation, dark green issues, economics, race relations, feminism, culture, working class urban life, media, art, Los Angeles and literature.

8 thoughts on “$550 Billion Disappeared on September 15, 2008 “Electronic Run On US Banks”

  1. Browne, I wonder what precipitated the run on the money?
    Maybe there were signs or signals to the money lenders in the temple that it was time to cut and run.

    To some of us “ordinary people” with our antennas up, it is another sign or a harbinger of the end of an ugly system of economics that devoured both itself and it’s young.
    Like Soviet style Communism that collapsed of it’s own excess and paranoia, Monopoly Capitalism, that flourished only by stepping on the necks of the working class around the world, to support a lavish lifestyle for the international High Brahman class, now seems finally to be going down the black hole of history.

    As far as I’m concerned it’s good bye and good riddance, maybe it’s time for all Human Beings to flourish, based on the family of man and simple pleasures that are related to family, friends, meaningful and artistic undertakings that provide not only sustenance but skilled craftsmanship and soulfulness.

  2. ^DQ, sounds good to me!

    I think I remember when this was happening. Wasn’t this when everyone thought Washington Mutual was gonna crash? Like I’ve said before, our economy is a house of cards only propped up by faith and economists – who insist everything is okay cause what else are they gonna say?

  3. I guess what I want to know is why wasn’t this widely reported. I’m going to stop short at calling it is a theft, because people can take their own money out whenever they want, but on the other hand if you have so much wealth concentrated in the hand of so few that if that few decides to pick up their marbles and play somewhere else that the whole economy disappears, well at that point I’ve got to question.

    Those people get lots of tax breaks and other goodies and I thought the idea behind it (yeah I know it’s bs) but I thought the idea in theory was that there was some unspoken agreement that they would not fuck us, but since they have well, fuck them. Who the fuck were these assholes who took out their 550 billion dollars worth of marbles in a matter of TWO freakin hours. And if the economy is in such dire straits why are these same assholes trying to convince us to buy cars, houses and purchase crap still, when obviously they are pulling and holding.

    I am no economic genius, but I’m going to bet this wasn’t 75,000 people pulling out thousands of dollars, but maybe at the most 100 people (which are probably actually 25 families, you know how the rich like to spread everything out to look less rich) taking out millions all at the same time, all on the same day in a matter of hours. That’s pretty outrageous. The outrageous thing about it is that I don’t think it would be all that hard to find out who did it, but the downward spiral of our economy by the rich and greedy seems to not be something worth talking about.

    You know where the hell was the media in a big way on this.

    I mean we have emails sent around because people took a few dollars from people by bat or knife or whatever, but we have our economy almost being destroyed and there’s nothing from the peanut gallery.

    Just so you can understand the magnitude of 550 billion dollars being taken out in two hours, think about this the stimulus plan that is going to “save” us from disaster that everyone is going to have their hand out to get a part of to save jobs and services all across the country and state is 787 billion dollars.

    On some levels I’m totally like capitalism sucks, but on the other hand they stole our money and those rich assholes should pay, they should at least have their names in the paper.


  4. Don’t hold your breath Browne, Faux News won’t be forthcoming any time soon I’d wager.

  5. “Lehman Brothers was founded in 1850 by two cotton brokers in Montgomery, Ala. The firm moved to New York City after the Civil War and grew into one of Wall Street’s investment giants. On Sept. 14, 2008, the investment bank announced that it would file for liquidation after huge losses in the mortgage market and a loss of investor confidence crippled it and it was unable to find a buyer.” NY Times


    If that is true (which sounds from my lay economist’s ear pretty close to a good deduction of alot of what happpened) Alienation, I guess past injustices do impact current injustices.

    Barclay a financial service organziation founded in the London in 1690 has said: “70% of synthetic CDOs were tied to Lehman Brothers.”


    Investopedia explains Collateralized Debt Obligation – CDO
    Similar in structure to a collateralized mortgage obligation (CMO) or collateralized bond obligation (CBO), CDOs are unique in that they represent different types of debt and credit risk. In the case of CDOs, these different types of debt are often referred to as ‘tranches’ or ‘slices’. Each slice has a different maturity and risk associated with it. The higher the risk, the more the CDO pays.

  6. Rep Kanjorski has his dates mixed-up. The $550 billion exodus occured on Thursday 9/11/08 between the hours of 9am and 11am EST the exact hours 7 years earlier when the World Trade Centers were attacked and demolished.

  7. Where is wikileaks / openleaks when you need some information.
    Perhaps they should publish a list of information that is needed to help them make sense of information they have.

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