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Rep. Kanjorski: $550 Billion Disappeared in “Electronic Run On the Banks”

Posted By admin On February 6, 2009 @ 5:00 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled

Infowars
February 6, 2009

At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occured over the period of an hour or two.

Here is a transcript of what 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.

  • A d v e r t i s e m e n t
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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.

Kanjorski does not provide further details.

A Google search to verify this produces zero results.


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