US Bank System Collapsing (video)

Over 90% of America did not want to passage of HR3997. The US Congress was held at "Executive Gun Point" and told: "you either pass this bill or we will declare martial law."

The most painful part of HR3997 is the shift in the final bill. What was the shift? Unbeknownst to the American people, however, is that since September 20th, the $700 billion bailout bill signed into law by their President yesterday was expanded from its original 3 pages to a 451 page virtual novel of new laws virtually enslaving them to the foreign holders of their debt.

In addition, there are reports circulating in the Kremlin today are stating that the first deployment of Chinas elite People's Armed Police (PAP) under an agreement signed between the United States and China, and US Homeowners Soon To Be Evicted By Chinese Police Under New Law HR3997.

Even more disturbing, these reports continue, are that these new laws not only give Chinese and European banks control over the mortgage debt of the American people, they now include their credit card balances, and which virtually the entire US populace have indebtedness to.

To how utterly chilling this new US law for the American people, titled the Emergency Economic Stabilization Act of 2008, Russian legal experts point out in these reports that:

Section 101 (a)(1) establishes what is termed the Troubled Asset Relief Program (TARP) to which substantial portions of what the American people currently owe to their banks and financial institutions is to be turned over the US Government for redistribution to foreign banks.

Section 101(c)(3) Designates for the first time in American history these foreign banks as financial agents of Federal Government with full law enforcement authority over the citizens in the US.

Section 3 (b) allows the US Secretary of the Treasury to put any kind of debt, including credit card, home loans, personal loans, automobile loans, etc., into the TARP programme.

Section 112 allows the US Secretary of the Treasury to astoundingly extend financing to foreign banks to purchase the debt of the American people.

Section 112 (1)(a) allows the US Government to hold stocks in companies for the first time in their history and which completely destroys the capitalist economy of their Nation.

Section 119 (2)(a) gives the US Secretary of the Treasury dictatorial powers not reviewable by courts making this position the most powerful one in America.

Section 122 increases the US public debt to the incredible amount of $11,315,000,000,000 (Trillion)

Section 204 puts the United States under emergency economic rule and states, "all provisions of this Act are designated as an emergency requirement and necessary to meet emergency needs.

The clip here is from the newest addition of Zeitgeist explaining the Federal Reserve.

Money Mechanics, the document explained in this clip may be found at:

http://landru.i-link-2.net/monques/mm...

Huge European bank fails (video)

European financial giant Fortis partially nationalized. Three governments to pour 11.2 billion euro ($16.4 billion) into the bank.

BRUSSELS, Belgium (AP) -- Dutch-Belgian bank and insurance giant Fortis NV was given a 11.2 billion euro ($16.4 billion) lifeline to avert insolvency as part of a wider bailout plan agreed to by Belgium, the Netherlands and Luxembourg, officials said Sunday.

Belgium's Prime Minister Yves Leterme said the bailout shows account holders and investors that Fortis will not be allowed to fall victim to the global credit crisis. Leterme announced the deal after weekend talks between the three countries, European Union and national banking officials.

VIDEO:
http://money.cnn.com/video/#/video/news/2008/09/26/news.worldreactions.092608.cnnmoney

The deal will force the bank -- which has headquarters in both Brussels and the Dutch city of Utrecht -- to sell its stake in Dutch bank ABN Amro, which it partially took over last year. Fortis paid 24 billion euros for its share of ABN.

Fortis Chairman Maurice Lippens will be forced to resign and will be replaced by a candidate from outside the company, Leterme said.
"We have taken up our responsibility, we did not abandon" account holders, Leterme told reporters.

Under the bailout, Belgium will invest 4.7 billion euros ($6.88 billion) and the Netherlands 4 billion euros ($5.86 billion) in Fortis' banking operations in the two countries. In return, they each receive 49 percent ownership in those national arms of the bank.
Luxembourg will invest 2.7 billion euros ($3.95 billion) in the bank's Luxembourg operations, also for a 49 percent stake.

The deal, orchestrated by the three neighboring countries and EU Central Bank chief Jean-Claude Trichet, is meant to restore confidence in the bank before the reopening of markets on Monday after a tumultuous week in which Fortis' shares imploded.

Belgian officials also announced Sunday that they planned to offer better guarantees for all retail deposits at Fortis, the country's largest bank and largest private employer.
Fortis named its third chief executive officer in as many months Friday after insolvency fears caused the company's shares to tumble to 5.18 euros ($7.56), their lowest level in more than a decade. The shares have lost more than three-fourths of their value in the past year.

Fortis denies any imminent solvency problems, but it has been in trouble since it took part in a three-bank consortium last year that acquired ABN Amro in a 70 billion euros ($102.5 billion) deal that was the largest takeover in the history of the banking industry.

http://money.cnn.com/2008/09/28/news/international/fortis_nationalized.ap/?postversion=2008092818