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‘Financial 9/11’ struck over $6.9 trillion from US economy during 2008

http://rawstory.com/news/2008/Financial_911_strikes_over_6.9_trillion_0101.html
2008 is over, and we have survived it. Though for some of us, just barely. 2008 saw the greatest financial losses in generations, as $6.9 trillion poured from investors’ coffers in the worst series of cascading disasters since the Great Depression. The resulting panic was met with equally drastic action by the US Treasury and Federal Reserve bank. As pillars of the US economy toppled, the Fed government created an additional $8.5 trillion in currency liquidity and began handing out massive, low interest loans in hopes of stopping a chain reaction of failures. This massive economic bloodletting threatens to rival the United States’ GDP: a now-seemingly hapless $14 trillion. James Bianco, president of Chicago-based Bianco Research Inc., told the Toronto Globe and Mail: “No one understands these numbers, and I include the Treasury Secretary [Henry Paulson] and the chairman of the Federal Reserve [Ben Bernanke].”
financial911economydollar

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January 2, 2009 - Posted by | Financial High Treason

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