that the United States of America nearly collapsed, both politically and economically, in September of 2008. Do you think I overstate the case? Listen to Congressman Paul Kanjorski:
I was there when the secretary and the chairman of the Federal Reserve came those days and talked to members of Congress about what was going on… Here’s the facts. We don’t even talk about these things.
On Thursday, at about 11 o’clock in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to a tune of $550 billion being drawn out in a matter of an hour or two.
The Treasury opened up its window to help. They pumped $105 billion into the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks.
They decided to close the operation, close down the money accounts, and announce a guarantee of $250,000 per account so there wouldn’t be further panic and there. And that’s what actually happened.
If they had not done that their estimation was that by two o’clock that afternoon, $5.5 trillion would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed.
Now we talked at that time about what would have happened if that happened. It would have been the end of our economic system and our political system as we know it.
This explains the dire warnings of Paulson to Congressional leaders, warnings that martial law would have to be declared if the bailout was not passed. It was originally in reaction to this that I famously declared that all Republicans should be round up and shot. A stupid thing to say, but you can understand the anger. I mean, come on, the collapse of the United States???? How could one not feel anything but murderous rage towards those responsible for it.
The anger continues today, and we now have new things to be angry about. Given these dire warnings about martial law from a Republican back in September, why do Republicans now oppose any stimulus to the economy? Could it be that they are just playing politics? You have to ask yourself, why? Why would those responsible for the near collapse of the United States now attempt to stop any attempt to rebuild it? It is like crashing a car, and then preventing the paramedics from treating your injured passenger. Do they really want the US to collapse? For it can only be two possibilities: either Republicans are just playing petty politics in opposing the stimulus, or ….they truly wish want the United States to fail.
Maybe they wish to see Social Darwinism play out on a global scale. Ironic, considering their beliefs in “intelligent design.”