‘The end of our economic system as we know it’

This is must-see video from Representative Paul Kanjorski, the Capital Markets Subcommitee Chair.  He says that back in September, we were literally 24 hours away from  a complete meltdown in our economic and political system.

Some truly amazing quotes in here.  Just a piece of it …

“Here’s the facts. And we don’t even talk about these things. On Thursday, at about 11:00 in the morning, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States to the tune of 550 Billion dollars was being drawn out in an hour or two. The treasury opened up its window to help. They pumped 105 billion dollars 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 down the money market accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic.

If they had not done that, their estimation was that by 2:00 that afternoon, 5.5 Trillion dollars 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. We talked at that time about what would have happened had that happened. It would have been the end of our economic system and our political system as we know it.”

Now, Congressman Kanjorski says that was the truth as Secretary Paulson told it to him.  You’ll note, however, that this threat of a global meltdown was left out of official stories at the time.

Was Paulson telling Kanjorski the truth?

If so, what are the chances that it could happen again?

If it could happen again — if we are still at risk of the global economy and political system melting down – what should gold and silver be priced at now?

Watch the interview HERE.

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