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$550B Lost In Electronic Run On Banks

From C-SPAN via YouTube:

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

Mr. Kanjorski is talking about the events circa September 18, 2008.

Which, you will recall, was also around the time in the presidential campaign when Mr. McCain passed Mr. Obama in the polls.

Does anyone know what Mr. Soros was doing that day?

This article was posted by Steve on Tuesday, February 10th, 2009. Comments are currently closed.

34 Responses to “$550B Lost In Electronic Run On Banks”

  1. proreason says:

    Nov 23, 2008, I posted here on S&L about the extraordinarilly strange financial events of the weeks immediately after McCain first took the lead in the Gallup poll, which happened the weekend of Sep 6 and 7, immediately after the GOP convention and the selection of Sarah Palin.


    Rush spoke to this topic once in January. Today, it was one of his leads…revolving around Kanjorski’s statement, which Rush believes indicates a hand not of god. The clip above indicates that the run on MM accounts was 550 billion in less than 2 hours, and the fed estimated 5.5 TRILLION would have been withdrawn unless action was taken within minutes.

    There were 6 overwhelming and unexplainable coincidences, and several other more minor occurences:
    1. Biggest drop in the Stock Market prior to an election EVER
    2. Increase in Stock Market volume beginning Sep 8, matched ONLY ONCE in the last 60 years.
    3. Biggest drop in oil prices EVER
    4. McCain took the lead in the polls immediately prior to items 1 to 3
    5. Bernake and Paulsen declared the biggest emergency of all time 8 days after McCain took the poll lead (probably what Kanjosski is talking about), requiring immediately nationalization of the banks. (note: curiously, Bernake and Paulsen are both big-time democrats).
    6. Obamy then immediately began surging in the polls, even though his and McCains positions had not changed an iota
    7. and other less significant events

    I stated on Nov 23 and continue to believe that these events were NOT RANDOM and were INSTIGATED by Obama supporters, including Soros, and probably, foreign powers, all of whom are benefitting greatly from his selection. The size of the MM run indicates that Soros certainly could not have done it alone, and either had to have had a consortium or the support of very rich foreign countries (i.e., Venezuala, Russia, China, and Saudi Arabis – all of which were heavily pro-Obama, for obvious reasons).

    Yet, despite these events, WHICH HAVE NEVER BEEN DUPLICATED IN THE HISTORY OF THE PLANET. the msm has no curiosity whatsover about what actually happend.

    Why is that?

    • Steve says:

      “Nov 23, 2008, I posted here on S&L about the extraordinarilly strange financial events of the weeks immediately after McCain first took the lead in the Gallup poll, which happened the weekend of Sep 6 and 7, immediately after the GOP convention and the selection of Sarah Palin.”

      You made a whole slew of brilliant posts around that time.

      And I think events are proving you were quite right.

    • proreason says:

      Thanks for that SG, and I appreciate the fact that you have lent your considerable credibility to the idea. And it’s good to hear Rush talking about these events, even though he has formed his thoughts totally separately and he has his own twist on the events.

      The lack of curiousity by others is interesting. Maybe people are just unwilling to consider that such a thing could happen in our world. It IS frightening to contemplate that such a thing could be possible or that the people who did it have actually siezed control of the greatest people and greatest civilization in history.

      Every few weeks, I go looking to see if somebody has written about the events, but there is almost nothing out there. It’s like a giant fire destroyed your town and nobody even asks whether it was arson.

    • Reality Bytes says:

      My business puts me many times inside trading floors of groups like Soros & others in the hedgefund industry. Most are hardworking enterprises that raise capital & create wealth for private organizations, which is a good thing.

      That said, I find it mystifying that strewn in throughout these rooms some of the most radical anti American, pro centralization reads can be found on many of the trading desks. Are they just there because these new billionaire hatchlings are invested in Anti American investing? Or, are they just playing to their masters’ political whim? I don’t know, but what I do know is that they certainly don’t live according to what their liberal creeds preach. Another example of the 1/100 Ruling Elitists that are coming? Perhaps. Let’s just hope they eat their own until more rational heads prevail.

    • Melly says:

      Soros…….the first man I thought of when I listened to Rush speak of this today.
      Just stunning.

    • BillK says:

      It’s funny of course as whenever Hollywood or the MSM cover the possibility of such manipulation it’s always evil, rich Republicans who are behind it all, or perhaps Big Business.

      They of course never consider the rich left, who want Socialism imposed now so that ordinary Americans can never reach their rarefied level.

      Otherwise known as “without illegal immigrants, who would clean my pool?”

    • imnewatthis says:

      I have always felt George Soros and his ilk had something to do with all this, to ensure Obama’s election.

    • ptat says:

      This strikes me as an act of war in a way. I remember thinking the timing was so suspect for the economic crisis and how odd that it sealed the deal for President Hussein…..

  2. Reality Bytes says:

    Not To Worry! I hear a top secret effort is underway – here a glimpse inside the operation (I hear they’re having this new technology installed in Vice President Biden’s office too):


  3. BannedbytheTaliban says:

    Thanks for posting this SG. I was wondering what factors were really contributing to the “economic meltdown” being parroted in the press. The small portion of bank holdings in the mortgage industry certaintly wasn’t the main cause, even with the greatly inflated numbers represent in the press. When a few people are holding large portions of company’s debt, they have great influence over when and if bankruptcy is declared. Seems with people like Soros we have returned to the days of the Robber Baron. They are like the trusts Teddy Roosevelt broke up. But unlike the gigantic companies of old, they are individuals who slip under the radar of the public eye and have strong ties to the government, mainly the Democrats. But it is big oil and the Republicans that get the blame.

    I wonder if Soros and other elite Socialist had anything to do with the speculation and spike in oil prices. I’ve heard at one point that there were 30 barrels being traded for every barrel in existence. Someone with the capitol like Soros could have started buying them up and created the speculation that lead to price increase. Seems to me the high oil prices were the start of the plan. People were still buying things, just on credit because the increase in fuel caused peoples’ discretionary money to shrink. They still wanted stuff, so it, or gas, just went on the old credit card.

    Pro has a good conspiracy theory there. Wonder if it will get as much attention as the 9/11 truthers get? Wonder why Kanjorski is revealing a big part of the plan? Probably to tout the great works of the Treasury and show how only government can save us now.

    • proreason says:

      Banned, you aren’t the first to call it a conspiracy theory, which belittles the idea. But each of the items I mentioned is factual. The only speculative part is the conculsion that the events were not random.

      – Truthers depend on junk science and deny plainly obvious explanations for what happened on 9/11
      – JFK conspiracy theorists pesist in the face of overwhelming evidence.
      – Roswell conspiracy theorists persist with no evidence whatsoever.
      – Most other conspiracy theories are similar

      For the 2008 election “coincidences”, nobody offers an explanation. There isn’t even any curiosity about why so many once-in-multiple-lifetime events occured in the 2 months prior to The Moron’s coronation.

      If somebody offers a compelling explanation, I’ll drop it.

    • BannedbytheTaliban says:

      The term “conspiracy theory” was ment to be satire. You make several valid points, but for the sake of all of us, I hope you are wrong. No one person or small group of people should have that much influence over the happenings of this country.

  4. catie says:

    Proreason, I just came over from the Get Drunk site and found your post to be very interesting. I do think there may be something to what you’re saying but why would Bernake and Paulson be in on it too. What was in it for them? I honestly didn’t know they were big time Democraps as they were put up there by a Republican president. But at the same time, I would put nothing past Soros. He is Mister Evil.

    • proreason says:

      catie, I don’t know that dubya’s economic advisors were in on a scheme, but being democrats, they were all too willing to suggest a nanny-state solution rather than a free-market solution.

      I also find it a stretch to think they might be as evil as Soros and that ilk. Likewise, I’m reluctant to blame Dubya, even though one might wish he had stuck by his free-market principles instead of giving in so quickly. After all, he hired those guys, so I can see why he would follow their advice.

      But where are the commissions to explain these extraordinary events? As I said earlier, there was a huge fire, but our brilliant leaders can’t take the time to ask what started it.

      And, my understanding is that Paulsen did nothing with the 700B TARP for about a month. If that is true or even partially true, why did the urgency abate so quickly after the policial damage was done?

      I don’t begin to have the answers. What bothers me is that the questions are not asked.

    • pdsand says:

      Does nobody remember that Democrats gained the majority in Congress in 2006? And that Bush pledged the remainder of his administration to working hand in hand with Democrats, on account of how conservative republicans had opposed almost all of the “compassionate” parts of Bush’s compassionate conservatism? And how a great many of the cabinet secretaries have been replaced in the last two years of Bush’s term? And how they were all replaced with declared Democrats or people whom the Democrats admired greatly? And how everything that these Democrats in Congress and the Democrats in the Bush administration passed into law in the last two years is currently being blamed on conservative republicans?

    • proreason says:

      catie, some other interesting information about this, since this is the first time you have visited:

      1. soros made $2.4B in 2008 up to about June. The market LOST about 20% in that period. We don’t know yet what he made later in the year.
      2. rush has pointed out that Chuckie Schummer caused a run on Indy Bank in June by verbally dissing it. Highly unusual for a politician to say anything publicly about a private business.
      3. likewise, Undertaker Reid hinted at AIG problems in early fall. Shortly thereafter, AIG required a bail-out.
      4. The Moron was “guaranteeing” victory several months before the election. Certainly not a smoking gun, but a highly unusual proclamation prior to the last desperate days of a campaign.
      5. The total market loss in 2008 was the 2nd greatest in history.
      6. The market continued to fall until 2 weeks after the election, but has now rebounded about 20%.
      7. Tradional market indicators were normal until just before September. Slightly below normal GNP, normal PE’s, normal volume, slightly better than normal unemployment, slightly above normal cpi (but attributable to the high price of gasoline in Q1 and Q2 of 2008. The only indicator of an economic problem was the toxic loan problem…..but that was known as early as October 2007, so had been around for nearly a year before “the greatest financial crisis in history”
      8. Soros is known for almost brining down the Bank of England by currency manipulations in 1992.
      9. Soros was also involved in the finanical crisis that began in Indonesia in the late 1990’s.
      10. Soros was predicting a financial catastophe starting in 2007.
      11. The stock market almost always goes up in an election year. It’s a fairly well-know phenomenon attibutable to the party in power doing everything it can to assure a good market. For example, Dubya had his own “stimulus” in early 2008, which everyone says “failed’. Some failure. GDP increased at an annualized 3.2% in Q2. The point here is that not only did the market buck tradition, it bucked a stacked deck.

    • TwilightZoned says:

      PR thank you for sharing some very good information. Not only does all this concern me GREATLY-it scares the bajeezus out of me!

    • retire05 says:

      proreason, I am familiar with everything you say, but there are a few other things that also need to be taken into consideration.
      First, the American auto industry. While it has not been a bed of roses, it has been cranking along managing to stay afloat at least. But there are also sinister forces at play there.
      George Soros teamed up with Maurice Strong (a Canadian mystery man that most people have never heard of) to import a car into the U.S., made in China and called the Chery. Soros’s dealings in China were so shaky that the Chinese booted him out and he is not allowed to do business in China ever again. But the plan was to import a Chinese car that would literally put the American auto industry out of business and make billions for Strong and Soros.
      Also, France, due to Soros’s shady dealing there, indicted him, took him to court and settled for a large amount of money. Soros was basically trying to do the same thing in France with the franc that he did in Great Britain with the Pound sterling.

      Soros and Strong are an interesting (and frightening) duo. Strong made his money in oil and energy, and like Soros is an ardent America hater. Soros backed Al Gore, and Strong is Gore’s global warming mentor, having started a friendship with Gore while he was still VP. And both Strong, and Soros, have admitted that the only way to bring America to its knees is financially. Canadian Free Press did a number of articles on Strong. It is enough to make the hair on the back of your neck stand up. And both of them are “one world” proponents, believing that America, and all nations, should be governed by one central unit based on a model like the U.N.

      Put these two together and you have a financial powerhouse that is capable of taking down most nations.

      No one is sure how much money Soros made after June. But the figures that I have been told are staggering. Billions, not millions. Basically selling short.

      When all that you mentioned happened, I said this was no coincidence. I remember Soros saying during the Bush/Kerry race that he was willing to spend every dime he had to make sure that Bush was not re-elected. He dumped millions into groups like MoveOn.org and created the Billionaire’s Club. I call Soros the Hitler of the financial world.

      Odd, when all that happened, Mike Huckabee said that he had been told there were sinister forces at play and that the market would get worse until after the election. And you are right, no one in the media is paying any attention. And that is worrisome. But then, no one in the media was willing to investigate the past of our current POTUS. They were all too busy trying to find a hotel room in Wasilla, Alaska.

      Anyone wanting to know about Strong, and how dangerous he is, should go to the Canada Free Press and research their articles.

    • proreason says:


      Thanks for the additional info on Soros and Strong. They appear to rank right up there on the evil scale with The Moron’s heros of communism.

  5. Steadyjohn says:

    This is about manipulation of the commodities (and even other markets) market by outsiders. I’m not sure if this is relevant to the present discussion. In the 1970’s the Hunt brothers (by the way, are they still around?) attempted to corner the market in silver. In their particular scheme the Hunt’s were foiled:

    “The Hunt brothers were making a HUGE bet that the price of silver would continue to rise. At the same time, financial industry insiders started making a HUGE bet that the price ‘of silver would crash. Guess who won the conflict?…The large banks were smart to take a huge bet against the Hunt brothers. They knew the government and Federal Reserve would bail them out! There was *NO CHOICE* but to bail out the banks and screw over the Hunt brothers, because otherwise the financial system could have collapsed! There was no way that much silver could have been physically delivered! The Hunt brothers had practically bought more silver than existed!’

    ‘Besides, nobody other than financial industry insiders is allowed to exploit the defects in the monetary system. Whenever someone else tries, an example must be made of them!”

    In our present situation there is an attempt by the Obamabots to make an example of fiscal policy of the Bush administration while a collaboration of elements inside and outside the financial system conspired to create the Greatest October Surprise.
    see: http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html

    • Colonel1961 says:

      Briefly: most markets are open to all traders, so by definition, no one is an outsider. I can trade on the Hong Kong FE and they can trade on the Chicago ME, AMEX, NASDAQ, et cetera…

  6. retire05 says:

    To get y’all started:


    Then research Strong and Soros, Trilateral Commission and Strong’s “one world” book.

  7. Buzzy says:

    This is not surprising to me, following this Soros fellow for a while and have been worried such would happen, what if BHO’s catastrophe statements are a threat, not a prediction??

    • dulcimergrl says:

      That’s what I’ve been thinking since this whole so-called “bail-out” circus started. I’m picturing our illustrious new prez addressing the nation with a gun pressed to his back and his handlers whispering “get this pig passed, or else!”

    • sheehanjihad says:

      anyone with a modicum of common sense can see the connection….inferred simply by the lack of any hard evidence…..soros can afford to have his tracks covered, and he owns so many people that there is a virtual cornucopia of candidates the throw under the bus to protect his evil intent.

      The reason Barak is screeching about “catastophe” and “dire consequences” if that bill isnt passed is because that was “job one” once he was elected, and he is sweating bullets now that he wont be able to deliver for his financiers immediately as was promised by the House and Senate democrats before the election.

      Soros’s ability to manipulate the markets is no secret to proper thinking people, and if this was anything resembling a Republican process….the media would be screaming from the rooftops about “corruption at the highest levels”

      I have come to believe that if something ISNT reported in the media, then they are duplicitous in the charade themselves, hoping for scraps from Soro’s table for being good peons and keeping the public in the dark, or worse, publishing mis information or personal attacks on anyone who dares question anything that’s going on.

      While soros may be the brains and the money behind this entire debacle, the House and the Senate as well as the current administration remind me of the Nazis who when caught, stated that they were “just following orders” as they helped 50 to 60 million people die worldwide because they chose to follow ideology over substance.

      I take heart in knowing that this time, finally, they will have to own up to what they are doing….not now of course, but their time will come. The rumbling of the sleeping giant still falls on deaf ears in Washington….but I can hear it plain as day. I am not alone.

  8. Buzzy says:

    This is not surprising to me, following this Soros fellow for a while and have been worried such would happen, what if Obama catastrophe statements are a threat, not a prediction?

  9. proreason says:

    Obama timed his gloom and doom perfectly to the fall of Lehman Bros and the Money Market run on Sep 18.


    Obama’s statement was made Sep 16, 2008. Lehman Bros fell the day before. The MM run was two days later. Obama had made no such statement prior to that time.

    Here is the exact chain of events:

    july 20, 2008 – “it’s a safe banking system, A SOUND BANKING SYSTEM. Our regulators are on top of it. This is a very manageable situation.” — Henry Paulson (US Treasury Secretary)

    Thu Sep 5 – McCain accepts the nomination
    Fri Sep 6 – GOP convention closes. At this point the stock market was off 18% for the year.
    Sun Sep 7 – Gallup poll leaks that MCCAIN HAS TAKEN THE LEAD BY 5%
    Mon Sep 8 – Market volume jumps 60% over prior 6 months avg (and remains so for several months). The market rose 2%
    Fri Sep 12 – market ends up 1% for the week
    Sun Sep 14 – Lehman Bros falls. (this is step 2 in the tanking of our economy)
    Mon Sep 15 – market falls 3-4%
    Tue Sep 16 = OBAMA MAKES GLOOM AND DOOM PROCLAMATION in the attached video (step 3)
    Wed Sep 17 – market falls another 3% from Monday
    Thu Sep 18 – HUGE RUN ON MONEY MARKET ACCOUNTS (step 4). But market rallies 3%.
    Fri Sep 19 – rally continues and ends higher than Sep 5. but during the day, this happpened: “”We must now take further, decisive action to fundamentally and comprehensively address the root cause of our financial system’s stresses. WE’RE TALKING HUNDREDS OF BILLIONS. This needs to be big enough to make a real difference and get at the heart of the problem,” — Henry Paulson (US Treasury Secretary) This is the final and successful step

    Mon Nov 3 – market off 34% for the year. MARKET OFFf 22% SINCE MCCAIN TOOK THE LEAD.

    Here is my view:

    – Soros and co had been driving the market down all year, but immediately after the convention, McCain still was able to take the lead. Paulsen had been expressing confidence in the banking system

    – The next week, Soros and co attacked Lehman Bros and brought it down, but the market STILL did not tank. The Democrats were getting desperate.

    – Obama made his gloom and pronouncement of Sep 16, timed to coincide with the money market run 2 days later. On the day of gloom and doom, by the way, GDP for the year was normal, employment was normal, CPI was normal, wages were normal. Other than fear tactics, the economy was normal.

    – Then, the democrats/socialists ochestrated the run on money market funds of Sep 18 as an act of final desperation. It almost destroyed the world’s financial system, but the stock market STILL wouldn’t tank.

    – But the next day Paulsen and Bernake were forced to announce the “emergency measures”. That FINALLY did it, and the stock market began it’s historic fall……just in time so save Obama’s campaign.

    And why was the focus on the stock market? Because employment was stong, CPI was good and incomes were up. But by FINALLY spooking the fed into foolish actions via the Money Market panic of Sept 18, they were able to tank the stock market. And by destroying the life savings of millions of Americans, they were able to convince the country that Bush had ruined the economy, and open the door for The Moron to implement socialism and solidify the ruling class in America.

  10. proreason says:

    Tom Brokaw declared “greatest financial crisis… since the Great Depression” August 26, 2008.

    That was the day the GDP of +3.3% was announced for Q2.

    But why would facts interfere with one’s duty to elect The Moron and destroy the country that has made Brokaw a gazillionaire.

  11. A_Nonny_Mouse says:

    I suspect Russia was involved.


    The second paragraph of this article by J R Nyquist at FinancialSense.com says:
    “The Kremlin strategists believe that the United States is on the brink of a crippling dislocation. According to a July 29 Pravda article, an anonymous Russian diplomat revealed that the “Russian administration believes the United States may soon suffer from a serious political crisis.” The sequence begins with a financial crash, advances to political unrest and finally to the dissolution of American military power. As the Russian diplomat warned, “America is standing on the verge of a large-scale crisis of its own existence.” ”


    • proreason says:

      interesting contribution, nonny.

      I said elsewhere that I doubt Soros could have triggered the money market run on his own. The fed estimated that 5.5 trillion could have been withdrawn Sep 18 if the rate continued like the first 2 hours. Soros is a billionaire, but money market funds are not leverageable, so it would have taken 1,000 Soros’es but just 1 Russia or China.. (to put 5.5 trillion in context, it is about 40% of the U.S.’s GDP for a full year. It’s 10% of the world’s GDP.).

      Another interesting tidbit that might be related is the daily stock trading pattern in September and October. There were many days during which the market showed strength early in the day, but fell huge amounts in the last hour. It was like an unseen hand was refusing to allow any good news. Some observors have said that can be explained by Mutual Funds selling late in the day to cover massive withdrawls. That sounds plausible, but don’t Mutual Funds get notifications of withdrawls all throughout the day? Why would they always wait until the last hour to cover?

      And why isn’t our transparent government and watchdog press telling the American people what happened that day when the financial system shut down? Kanjorski flat-out states that the entire global financial system could have come crashing down. It was an event even more important than 9/11. 9/11, horrible as it was, had no chance of ending civilization as we know it. But according to Kanjorski, Sept 18 2008 might indeed have ended civilization.

      Yet we know nothing of the events of that day.

      Why is that?

  12. TwilightZoned says:

    If we can track terrorist money we can certainly track the MM run. The question is why hasn’t it been done? Or has it?

    • proreason says:

      You would think someone in the watchdog press might be interested in a 550 Billion, potential 5.5 Trillion dollar run / attack on the lifeblood of the global financial system….a run that could have ended civilization as we know it……. wouldn’t you?

      After all, we know the exact sum Sarah Palin spent for her wardrobe.

  13. proreason says:

    S&P 500 now down 18% since Election Day.

    It was down an addition 18% in October and November when Obamasoros destroyed the economy.

    And it was down about 20% in 2008 prior to that while Obamasoros was applying the dripdrip that didn’t work.

    The Stock Market is generally considered to be one of the best, if not the best indicator of the economy looking out 12 to 24 months.

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