Oh people, there are things afoot.
Urban Survival has predictions about next Tuesday, October 7th, and what you should be doing in the event that something big happens, such as:
Meanwhile, Karl Denninger has a new post up explaining that the bailout actually takes care of the foreign investors, which, strangely enough, has been kept on the QT.
Due to the proximity of the October 7 events, starting today I would suggest:
Printing off your bank and investment records onto a printer so you have a snapshot of all your financial records
Make offsite back-ups of all critical data on non-magnetic media (e.g. DVD's)
Have enough cash on hand to live an uninterrupted lifestyle for one week without a bank card working.
October 7th area events are not guaranteed, but if you do these things, you have no downside and only upside if the wheels come off the economy in this patch of time.
And if that isn't bad enough for you, the rush rush rush meme might have to do with something called Basel II agreements. An important deadline was missed last night.
Apparently a 90-day extension was given for U.S. banks to get their books in order. That extension expires on Sept. 30th so by Oct. 1st U.S. banks MUST be compliant or they CAN'T DO BUSINESS WITH COMPLIANT (more honest) BANKS.I don't know about all of this, but if you click through these links you will surely get an eyefull. When one ponders the magnitude of current events, and the world-wide scope of the players involved, and their monstrous greed...well, one almost doesn't know what to say anymore.
I would guess that the REAL REASON for the sudden big PANIC and RUSH has to do with these deadlines. Nothing else makes sense. And the blaming of "bad mortgages" for the whole mess is totally disingenuous.
IT'S ABOUT THE CRIMINALITY, STUPID!
Basel-II has been a long time coming, and NOW is the due date.
If we consider C. Story's reports we realize that major U.S. banks have been involved for years in illegal off-the-books hanky panky involving vast sums (trillions) from various trusts. I think Basel-II would put an end to that.
Take a look at Story's report about this at:
BUSH CRIMINAL OPERATION TO SABOTAGE BASEL II
U.S. CRIMINAL OPERATION TO SABOTAGE BASEL II
The US Dark Forces led by Godfather Bush Sr., George Bush 43, Mk-Ultra ('Himmler') Cheney, the 'late' Henry M. Paulson, the late Robert M. Kimmitt, and their collaborators and partners in High Crimes and Misdemeanours, former President William Jefferson Clinton and Hillary Rodomski Clinton, have been desperately seeking, with the enthusiastic assistance of their co-conspirator Robert Rubin at Citibank, and the other US criminal financial institutions led by the CIA's Bank of America, to torpedo the implementation of Basel II, since it defangs their corruption at the source, causing the criminal kleptocracy immense problems for the future.
Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic.
But I will say this. I hope and pray that the good people in the world outnumber the bad people in the world, and that God is merciful and just, and He will give us courage to do the right thing at the appointed hour, which could be very soon. And if we expect foreign peoples to give a crap about our lives and our futures, perhaps we had best show them that we're worth saving.