World Financial system : "brink of systemic meltdown"

[Shadow]

The world financial system is teetering on the "brink of systemic meltdown", the head of the International Monetary Fund (IMF) has warned in Washington.

Dominique Strauss-Kahn said the crisis was being fanned by fears over debt-ridden banks but added rich nations had so far failed to restore confidence.

He spoke after talks with US President George W Bush, Group of Seven (G7) finance ministers and the World Bank.

Mr Bush said the global economic crisis needed a united international response.

Speaking in the US capital on Saturday, Mr Strauss-Kahn said: "Intensifying solvency concerns about a number of the largest US-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown."



George Bush says the US will lead the response to the crisis
The IMF chief was joined at the White House by finance ministers from the G7 most-industrialised nations (the US, Canada, France, Germany, Britain, Italy and Japan), as well as World Bank President Robert Zoellick.

More here:

:mad:


http://news.bbc.co.uk/2/hi/business_world/7665515.stm

[Shadow]

Amidst the financial wreckage around the world, one government is celebrating.

Watching the global gnashing of teeth, the Islamic Republic of Iran is enjoying the ride.

"We are very happy that America's economy is in jeopardy and they are paying the price for their misdeeds. God is punishing them."



That is the verdict from Ayatollah Jannati, one of the most senior clerics in Iran.

President Ahmadinejad has pronounced on the collapse of global capitalism, and announced that Iranians should stand ready to manage the world.

If there is a Persian word for "schadenfreude", this is it.

And for the moment, Iran does seem to be above the fray.

Shares on the Tehran stock exchange, while down slightly in recent trading, have increased in value by 20% during the year.

In fact, to walk the floor of the Tehran Bourse, you could be excused for thinking you are in a parallel universe.

It looks like a normal stock exchange, with a vast computerised screen dominating the room and traders working from computer to phone to computer.

It is surely only a matter of time before the laws of gravity reassert themselves on the Iranian economy

But share prices have been almost entirely unaffected by the credit crunch.

More on BBC.

[Shadow]

http://news.bbc.co.uk/2/hi/business/7644238.stm

above link has a graphic display of who owns whom now, who has been bailed out.....etc.

Wow..... MASSIVE changes ....and the dust ain't anywhere near settling.

[Gareth]

The Iranians love their bit of spin. Their government is capitalist also I thought?

[Shadow]

The Iranians love their bit of spin.~ Gareth.



Sure they do. Not any different from any other group of people /nations. Most are a tad less obvious though.:)

[Shadow]

Breaking News Alert
The New York Times
Sunday, October 12, 2008 -- 3:08 PM ET
-----

European Leaders Agree to Inject Cash Into Banks

European financial and political leaders agreed late Sunday
to a plan that would inject billions of euros into their
banks in a bid to restore confidence to the teetering
financial system. Both France and Germany were planning to
unveil national rescue packages on Monday, official said.

[Shadow]

THE OCTOBER SURPRISE: GLOBAL PANIC



Posted On: October 13th, 2008

Source: Globalresearch.ca


Since 9/11, the notion of an October surprise has been around. The idea going something like this. Another real or manufactured terror attack. The dominant media stokes fear. The public is again traumatized. The Bush administration pledges all effective measures to protect national security. Formerly seizes total power. Suspends the Constitution and declares martial law. Mass detentions follow. Beginning with dissenters and elements of the public considered "dangerous."

This may be coming with the 3rd Infantry's 1st Brigade Combat Team back in the US as of October 1. According to the Army Times, as "an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks." Augmented by USNORTHCOM.

According to Wayne Madsen's recent article titled "FEMA sources confirm coming martial law," it gets worse. He cites "knowledgeable" FEMA sources saying that "the Bush administration is putting the final touches on a plan (to declare) martial law in the US with various scenarios anticipated as triggers." Economic collapse. Massive social unrest. Bank closures. Street protests. Violence in response, and another stolen election.

Early in the month, a different October surprise arrived. Not the expected one. Not yet at least. The Wall Street Journal put it this way: "The Dow Jones Industrial Average (DJIA) capped the worst week in its 112-year history with its most volatile day ever, as hopes for a major international bank rescue plan were overwhelmed at day's end by another wave of selling."

The DJIA dropped 22% over the past eight trading sessions. Investors were "shell-shocked." Many spent Friday "trying to protect themselves from further declines. The past week's (October 6 - 10) 18% decline "and Friday's 1018.77 point swing from low to high were the biggest since the Dow was created in 1896." The VIX measure of market fear hit 69.95. By far its highest level ever, and some investors think it may touch 100 in the current climate. Until now, the Dow's worst week was in 1933. Trading volume also set a record at 11.16 billion shares.

"Market crash shakes world" headlined the Financial Times (FT). Mass trauma, fear and uncertainty sent tremors everywhere, and no one knows if Friday ended it. Maybe just began it. First markets crater. Then world economies, and finally the inevitable human fallout. Affecting many tens of millions everywhere. Innocent people paying dearly.

Morning headlines say it all. And they're getting grimmer. On October 10, the Wall Street Journal said the "Market's 7-Day Rout Leaves US Reeling. Stocks in a Slow-Motion Crash....After Year of Declines, Investors Lose $8.4 Trillion of Wealth." Most scary is what's ahead and how much more people can or will tolerate.


More here:http://www.republicbroadcasting.org/index.php?cmd=news.article&articleID=1948

[BFSmith@764]

Amidst the financial wreckage around the world, one government is celebrating.

Watching the global gnashing of teeth, the Islamic Republic of Iran is enjoying the ride.

"We are very happy that America's economy is in jeopardy and they are paying the price for their misdeeds. God is punishing them."



That is the verdict from Ayatollah Jannati, one of the most senior clerics in Iran.

President Ahmadinejad has pronounced on the collapse of global capitalism, and announced that Iranians should stand ready to manage the world.

If there is a Persian word for "schadenfreude", this is it.

And for the moment, Iran does seem to be above the fray.

Shares on the Tehran stock exchange, while down slightly in recent trading, have increased in value by 20% during the year.

In fact, to walk the floor of the Tehran Bourse, you could be excused for thinking you are in a parallel universe.

It looks like a normal stock exchange, with a vast computerised screen dominating the room and traders working from computer to phone to computer.

It is surely only a matter of time before the laws of gravity reassert themselves on the Iranian economy

But share prices have been almost entirely unaffected by the credit crunch.

More on BBC.


The United States is one of the lost tribes of the house of Israel and the scriptures tells us that when Israel (U.S.A) fall in the last days, this is what will be said about them.

Jeremiah 50:6-7 (ASV)
6 My people have been lost sheep: their shepherds have caused them to go astray; they have turned them away on the mountains; they have gone from mountain to hill; they have forgotten their resting-place.
7 All that found them have devoured them; and their adversaries said, We are not guilty, because they have sinned against Jehovah, the habitation of righteousness, even Jehovah, the hope of their fathers.


The U.S. will continue to slip and slide into until it is no longer a wealthy nation....the people in it will be reduced to less than third world conduction, and their enemy will be saying God is punishing them because of its sins, and they will be correct in their assessment. But of course, very often when immoral people are confronted with their sins, instead of acknowledging and repenting, they rather accuse the person of being hatful. Some indeed might be, but even in hate there is some level of truth in what's being said.

[Lightweaver]

The United States is one of the lost tribes of the house of Israel

Huh? Can you show us any evidence to support that statement? Thanks!

[Shadow]

Huh? Can you show us any evidence to support that statement? Thanks!


Wondering if it is a "metaphor" of some kind , LW. :hmmm:


(or speaking in tongues , or???:( There can sometimes be a language barrier between the "believers" and the realists.: (thinkers ))

[BFSmith@764]

Huh? Can you show us any evidence to support that statement? Thanks!

I had a book that traced the ancestors before they came to Europe and England to the U.S.A; the book is called, "The United States and Britten in Prophecy" You might be able to find it online or a similar book. Do a Google search and see what pops up. It is said that the coronation stone in England is the very stone that Jacob used as a pillow to sleep on when he struggled with a man (God) in the night.

[Lightweaver]

There can sometimes be a language barrier between the "believers" and the realists.: (thinkers ))

:p I think the barrier goes beyond language. :D

Thanks for answering my question, BFSmith. A new book isn't in my budget so I was hoping for links or something free like that. :)

[Shadow]

:p I think the barrier goes beyond language. :D

Thanks for answering my question, BFSmith. A new book isn't in my budget so I was hoping for links or something free like that. :)



LOL , LW. I was trying to be um "delicate" and "tactful" for once. :laugh:



(of course, you are right about the "barrier " involving a lot more than just language. and is probably the largest factor in why folks just cannot, WILL not try to get along. :hmmm:

[Shadow]

from Yahoo News alerts:


CAMP DAVID, Md. (AP) President Bush says global leaders must solve the financial crisis together. .


GEE, YA THINK????

Is bush referring to the various global leaders he OFFENDED with his arrogant remarks over the past 8 yrs???


( damn good thing that these "global leaders" are a mature sort that are able to work with priorities. and ARE. regardless of the uninspired , lame commentary from the irrelavant bush )

[BFSmith@764]

LOL , LW. I was trying to be um "delicate" and "tactful" for once. :laugh:



(of course, you are right about the "barrier " involving a lot more than just language. and is probably the largest factor in why folks just cannot, WILL not try to get along. :hmmm:

Yes that is always better.....I usually ignore people who are rude and disrespectful.:)

[BFSmith@764]

from Yahoo News alerts:


CAMP DAVID, Md. (AP) President Bush says global leaders must solve the financial crisis together. .


GEE, YA THINK????

Is bush referring to the various global leaders he OFFENDED with his arrogant remarks over the past 8 yrs???


( damn good thing that these "global leaders" are a mature sort that are able to work with priorities. and ARE. regardless of the uninspired , lame commentary from the irrelavant bush )

:) This is just another step in creating a one world government.

[Shadow]

This is just another step in creating a one world government.~~ BFS



Hmm. You should start a thread on the possibility (probability???) of a one world G. Even if it 'hypothetical' at this point......would be interested in seeing what folks think about the concept and how they see it working or not working.


now, back to the economic meltdown....... which is scary enough. But might be a factor in moving in the direction you mention.


Does anyone else have the gut feeling / impression that the current global financial meltdown will affect the entire world with some major changes ..... ?? Out of a crisis ....____________is born. so to speak.

[Lightweaver]

I can fill in the blank! :eusa_dance: Out of a crisis ....____Fascism________is born.

[Shadow]

THere ya go, LW. ;);)


(in fact one might venture that it is "taking root" as we discuss it on here. Now, as folks are struggling to survive and adapt to the economic changes that are affecting them........ they don't have or cannot make time to see the larger picture of what is unfolding under their very eyes, but is not yet so obvious so as to shock them into the "new reality".


what is also very "scary" is that the ecomony is serving as a major distraction, as the powers that be fullfill other agendas that have been in the works .....


the economic "crisis" could not have happened at a "better" time politically. It is crisis like that , that politicians USE to their own advantage..


No one deserves what bush has wrought............not even the sorry saps that "voted" for him.

[BFSmith@764]

THere ya go, LW. ;);)


(in fact one might venture that it is "taking root" as we discuss it on here. Now, as folks are struggling to survive and adapt to the economic changes that are affecting them........ they don't have or cannot make time to see the larger picture of what is unfolding under their very eyes, but is not yet so obvious so as to shock them into the "new reality".


what is also very "scary" is that the ecomony is serving as a major distraction, as the powers that be fullfill other agendas that have been in the works .....


the economic "crisis" could not have happened at a "better" time politically. It is crisis like that , that politicians USE to their own advantage..


No one deserves what bush has wrought............not even the sorry saps that "voted" for him.

They created the crisis, then pose the solution....it's all a part of there plan.

[Shadow]

They created the crisis, then pose the solution....it's all a part of there plan.


Indeed. Amazing how much basic psychology is involved in "politics"


(and of course the "Solution" they come up with , was part of the larger plan to begin with. :mad::mad:............. there is something rather "evil" about all of it . )

[BFSmith@764]

Indeed. Amazing how much basic psychology is involved in "politics"


(and of course the "Solution" they come up with , was part of the larger plan to begin with. :mad::mad:............. there is something rather "evil" about all of it . )

It pays to be awake.

[Shadow]

It pays to be awake.



Indeed. !! In fact it is CRITICAL to be "awake".

[BFSmith@764]

Indeed. !! In fact it is CRITICAL to be "awake".

Here is another eye opener....the Amero...this is what they plan to replace the dollar once it collapse. Check out this 9 minute video.

http://video.google.com/videosearch?emb=0&aq=o&q=hal+turner+show+-+amero#

[Shadow]

thanks for the video link, BFS.........but I get "video no longer available"


( might that be "big brother" behaving in true form????:(


Yes, I have read about the "Amero."


One hates to think about what will be introduced now to "deal with the financial "crisis". We could be living in an entirely different world and real soon. And the collective "we" will have absolutely no say in the matter.


bush is going to host an economic summit. "soon'. Any guesses as to what they will come up with???

[BFSmith@764]

thanks for the video link, BFS.........but I get "video no longer available"


( might that be "big brother" behaving in true form????:(


Yes, I have read about the "Amero."

Keep trying, I had the same problem....could be a lot of people are watching that same video.


One hates to think about what will be introduced now to "deal with the financial "crisis". We could be living in an entirely different world and real soon. And the collective "we" will have absolutely no say in the matter.

Very true.


bush is going to host an economic summit. "soon'. Any guesses as to what they will come up with???

We will soon find out, or see.