someone familiar with Basel II comment on this article

[Zarathustra]

THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin...gi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

Basel-II compliant banks in Europe and elsewhere will be forbidden to do business with non-compliant banks in the U.S., effectively bringing the non-compliant banks down.

from Wiki:

A fiscal quarter is 3 months (1/4 of a year). For example, the United States government fiscal year for 2008 ("FY08", sometimes written "FY07-08") is as follows:

* 1st Quarter: October 1, 2007 - December 31, 2007

* 2nd Quarter: January 1, 2008 - March 31, 2008

* 3rd Quarter: April 1, 2008 - June 30, 2008

* 4th Quarter: July 1, 2008 - September 30, 2008

The U.S. government's fiscal year begins on October 1 of the previous calendar year and ends on September 30 of the year with which it is numbered.

http://en.wikipedia.org/wiki/Fiscal_year

Also from Wiki:

Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision. The purpose of Basel II, which was initially published in June 2004, is to create an international standard that banking regulators can use when creating regulations about how much capital banks need to put aside to guard against the types of financial and operational risks banks face.

Advocates of Basel II believe that such an international standard can help protect the international financial system from the types of problems that might arise should a major bank or a series of banks collapse. In practice, Basel II attempts to accomplish this by setting up rigorous risk and capital management requirements designed to ensure that a bank holds capital reserves appropriate to the risk the bank exposes itself to through its lending and investment practices.

Generally speaking, these rules mean that the greater risk to which the bank is exposed, the greater the amount of capital the bank needs to hold to safeguard its solvency and overall economic stability.

[snip]

On July 16, 2008 The federal banking and thrift agencies ( The Board of Governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; the Office of the Comptroller of the Currency, and; the Office of Thrift Supervision) issued a final guidance outlining the supervisory review process for the banking institutions that are implementing the new advanced capital adequacy framework (known as Basel II). The final guidance, relating to the supervisory review, is aimed at helping banking institutions meet certain qualification requirements in the advanced approaches rule, which took effect on April 1, 2008. http://www.occ.gov/ftp/release/2008-81a.pdf

[snip]

The European Union has already implemented the Accord via the EU Capital Requirements Directives and many European banks already report their capital adequacy ratios according to the new system. All the credit institutions will adopt it by 2008.

http://en.wikipedia.org/wiki/Basel_II>

Apparently a 90-day extension was given for U.S. banks to get their books in order. That extension expires on Sept. 30th so by Oct. 1st U.S. banks MUST be compliant or they CAN'T DO BUSINESS WITH COMPLIANT (more honest) BANKS.

I would guess that the REAL REASON for the sudden big PANIC and RUSH has to do with these deadlines. Nothing else makes sense. And the blaming of "bad mortgages" for the whole mess is totally disingenuous.

IT'S ABOUT THE CRIMINALITY, STUPID!

Basel-II has been a long time coming, and NOW is the due date.

If we consider C. Story's reports we realize that major U.S. banks have been involved for years in illegal off-the-books hanky panky involving vast sums (trillions) from various trusts. I think Basel-II would put an end to that.

Take a look at Story's report about this at:
http://www.worldreports.org/news/112...otage_basel_ii

BUSH CRIMINAL OPERATION TO SABOTAGE BASEL II

U.S. CRIMINAL OPERATION TO SABOTAGE BASEL II
The US Dark Forces led by Godfather Bush Sr., George Bush 43, Mk-Ultra ('Himmler') Cheney, the 'late' Henry M. Paulson, the late Robert M. Kimmitt, and their collaborators and partners in High Crimes and Misdemeanours, former President William Jefferson Clinton and Hillary Rodomski Clinton, have been desperately seeking, with the enthusiastic assistance of their co-conspirator Robert Rubin at Citibank, and the other US criminal financial institutions led by the CIA's Bank of America, to torpedo the implementation of Basel II, since it defangs their corruption at the source, causing the criminal kleptocracy immense problems for the future.

CLICK HERE FOR MORE OF STORY RE: BASEL-II

Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic.

[Steve_A]

Hi Zarathustra,

Wow! And that's a lot coming from me! If this has some truth, there could be a whammy about to happen.

Great piece of information. I'll keep my ear to the ground.

Thanks!

Best regards,


Steve


[QUOTE=Zarathustra;33415]THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin...gi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

[SkyWatcher]

Wow, wonderful research.

What will Bush do when he wakes up tomorrow and it is now October 1st. Short sell here in the US will be released soon. Then what will they do?

So, the bottom line, to the bottom line is that TPTB are fighting for their lives and trying desperately NOT to be exposed.
I am watching the ABC new report and it seems that people still don't want a bail-out. They announced on National TV that the Congressional internet lines are jammed (People still saying NO).

Now the big Hook for the reporters is a credit freeze, because the bank's don't want to lend money.
This has become the new rallying call for the Gov.

Blessings,
Nancy

[Steve_A]

Hi Zarathustra,

Check this out:

http://www.opriskandcompliance.com/p...ml?page=725309

I'm still scouring the web...

Best regards,

Steve

P.S. note the banks that are compliant.


[QUOTE=Zarathustra;33415]THE *REAL* REASON FOR THE SUDDEN RUSH FOR BAILOUT? (BASEL-II)

http://www.rumormillnews.com/cgi-bin...gi?read=132199

Why the Crooks (Fed) are in a Panicked Rush

Why the big panicked rush to pass the bailout? Two clues:

1.) the U.S. fiscal year ENDS on Sept. 30th and a NEW one starts on Oct. 1st. and
2.) The Basel-II deadline for U.S. banks to be "Basel-II compliant," originally Sept. 1st, must surely come due on Oct. 1st, 2008.

[Zarathustra]

Steve,

"The US has only adopted Basel II’s rules for its largest and international ‘core banks’ – such as Citigroup, JP Morgan and Bank of America. The comptroller of the currency said a rule for smaller banks could be expected in the second quarter of 2008."

Those are the 3 banks buying everything up right now, eh?

[Zarathustra]

"Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic."

Steve,

What I don't yet understand, and perhaps I'm overlooking the obvious, is how this bailout package will help to hide such crimes. Any thoughts?

[QUESTINY]

Originally Posted by Zarathustra

"Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic."

Steve,

What I don't yet understand, and perhaps I'm overlooking the obvious, is how this bailout package will help to hide such crimes. Any thoughts?

The bailout money could go on the books to shore up the minimum level to appear like the banks are trying to comply with Basel II.

A trade of bad paper for cash would meet the minimum requirement test. Also, eat up the smaller banks, put their deposits on the books to show more assets.

[Zarathustra]

Originally Posted by QUESTINY

The bailout money could go on the books to shore up the minimum level to appear like the banks are trying to comply with Basel II.

A trade of bad paper for cash would meet the minimum requirement test. Also, eat up the smaller banks, put their deposits on the books to show more assets.

Q,

If I understand you correctly, the 700 billion would prevent and international "outing" of the criminal banking by making them compliant. That does make sense, though why wait till the last minute? Of course they had to create the crisis "to be managed" in order to pull it off. I think there is something to this. It might also explain why the Fed lent out so much money the day after the vote failed.

[QUESTINY]

Originally Posted by Zarathustra

Q,

If I understand you correctly, the 700 billion would prevent and international "outing" of the criminal banking by making them compliant. That does make sense, though why wait till the last minute? Of course they had to create the crisis "to be managed" in order to pull it off. I think there is something to this. It might also explain why the Fed lent out so much money the day after the vote failed.

They didn't want to write the check. They wanted us to write the check. They waited to the last minute to see if it would actually go through. They wanted to see if the biggest bank heist in history would work. It didn't so they ponied up the cash to meet the deadline while trying to get still get reimbursed back from the the people...crazy theory huh?

[Zarathustra]

Originally Posted by QUESTINY

They didn't want to write the check. They wanted us to write the check. They waited to the last minute to see if it would actually go through. They wanted to see if the biggest bank heist in history would work. It didn't so they ponied up the cash to meet the deadline while trying to get still get reimbursed back from the the people...crazy theory huh?

Q,

correct or not I don't know, but crazy, I don't think so. It makes too much sense. They can hide crime domestically, but Basel II would require transparency to banks around the world. I think the specific purpose of their "panic" is certainly related.

[QUESTINY]

Originally Posted by Zarathustra

Q,

correct or not I don't know, but crazy, I don't think so. It makes too much sense. They can hide crime domestically, but Basel II would require transparency to banks around the world. I think the specific purpose of their "panic" is certainly related.

This might be why LEAP 2020 stated in February that a US and global collapse would happen around September. They knew of Basel II then. They also knew it would be impossible for the US to comply with the derivatives mess. This is an intentional take down.

[Zarathustra]

[QUOTE=QUESTINY;33564]This might be why LEAP 2020 stated in February that a US and global collapse would happen around September. They knew of Basel II then. They also knew it would be impossible for the US to comply with the derivatives mess. This is an intentional take down.[/QUOTE

Q,

Read the article, and I think you're right, or at the very least on to something that pierces the heart of the matter. Therein lies the rush, the panicked Congressman after the meeting with Paulson, Bush looking like he's been on a 10 day bender on tv, etc... If these things are true, then the illuminists that have run the U.S. economy have either a) overplayed their hand greatly, and are facing enourmous international and domestic blowback, or b) executing a defined agenda and prepping for the endgame.

[QUESTINY]

Plan B is what my heart tells me

[QUESTINY]

Also, it fits in to Congress waiting to Thursday to look at it again. Not the 1st but the 2nd of October to see what blow back transpires?

[sfth13]

Originally Posted by QUESTINY

Also, it fits in to Congress waiting to Thursday to look at it again. Not the 1st but the 2nd of October to see what blow back transpires?

looks like they are going to vote on this tomorrow after sundown

http://money.cnn.com/2008/09/30/news...ex.htm?cnn=yes

The Fed simply does not have enough cash (assets) on hand.

See here:

http://www.libertypost.org/cgi-bin/r...?ArtNum=240033


"Officials from the US Treasury Department, Japan's Finance Ministry and the European Central Bank reportedly drew up a currency contingency plan over the weekend of March 15-16, the Nikkei said, citing sources familiar with the situation. "


Notice the date!


Bernenke, Paulson and Bush were still assuring us that the "economy was on solid ground" back then.

Now Bernanke is throwing gas on the fire and doing everything he can to scare the crap put of the ordinary folks in the USA. The hyperbole is surrealistic. MSM is lapping it up like the parrots that they all are.


Bernanke tried his hardest to pillage the tax payers one more time.

Here is a link to a logical plan, doubtful it will ever get implemented though....


http://www.libertypost.org/cgi-bin/r...?ArtNum=240115

[sfth13]

I guess that's why they are going to vote on the bailout again tomorrow night ......after sundown

[Zarathustra]

Originally Posted by QUESTINY

Nout Wellink is the mastermind behind the Basel II. I'll give you three guesses who he is the chairman of and the 1st two don't count...hint BIS

This, to me, lends weight to Fulford's contention that there has been a split between the European 'Rothschilds' and the American 'Rockefellers'.

Originally Posted by painter

The Fed simply does not have enough cash (assets) on hand.

See here:

http://www.libertypost.org/cgi-bin/r...?ArtNum=240033


"Officials from the US Treasury Department, Japan's Finance Ministry and the European Central Bank reportedly drew up a currency contingency plan over the weekend of March 15-16, the Nikkei said, citing sources familiar with the situation. "


Notice the date!


Bernenke, Paulson and Bush were still assuring us that the "economy was on solid ground" back then.

Now Bernanke is throwing gas on the fire and doing everything he can to scare the crap put of the ordinary folks in the USA. The hyperbole is surrealistic. MSM is lapping it up like the parrots that they all are.


Bernanke tried his hardest to pillage the tax payers one more time.

Here is a link to a logical plan, doubtful it will ever get implemented though....


http://www.libertypost.org/cgi-bin/r...?ArtNum=240115

This lends weight to Questiny's contention that the money the Fed has pumped in since Monday was 'contigent' on getting the bailout passed so the Treasury, via the taxpayer (though the taxpayer ultimately pays the Fed's bills as well, plus interest) could then refill the Fed.

Originally Posted by sfth13

I guess that's why they are going to vote on the bailout again tomorrow night ......after sundown

...see previous statement...

[Greg10036]

This is wonderful information. Thank you for posting it.
g.

[sfth13]

makes sense the way you all layed it out. now we just wait and see, should be interesting.

[Zarathustra]

Originally Posted by Greg10036

This is wonderful information. Thank you for posting it.
g.

You're welcome G.

Originally Posted by sfth13

makes sense the way you all layed it out. now we just wait and see, should be interesting.

I agree.

[Love/Light 13]

Z-


I believe that if the IMF announces an audit of the Fed, it is an indicator that the Rothschild faction is ready to stick it to the Rockefeller/Israeli faction, and wants to bankrupt the US oil slinging tycoons. The problem for the Rothschild/Illuminati is that they are bankrupt themselves! It appears the end of Western world domination may be coming to an end. Russia, China, and Iran may be forging a powerful alliance that does not need the European/US contingent. Talk about a paradigm shift.

********************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

[Zarathustra]

Originally Posted by Love/Light 13

Z-


I believe that if the IMF announces an audit of the Fed, it is an indicator that the Rothschild faction is ready to stick it to the Rockefeller/Israeli faction, and wants to bankrupt the US oil slinging tycoons. The problem for the Rothschild/Illuminati is that they are bankrupt themselves! It appears the end of Western world domination may be coming to an end. Russia, China, and Iran may be forging a powerful alliance that does not need the European/US contingent. Talk about a paradigm shift.

********************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

L, You may very well be right, though I don't think that anywhere in the world is going to be impacted as deeply as the U.S. Therefore, they may be able to "stick it to the US" as you say while suffering manageable damage themselves. Certainly Russia and China have asserted themselves recently, so there is great merit to that comment.

Z

[Love/Light 13]

Z-


I do agree the US may take the hardest "fall" simply because they are the world's only superpower, I believe exposure of the Illuminati/Rothschild agenda may be in order. While this is highly speculative, it is my educated hunch. If this is the case, the real victim will be the Vatican. The exposure of the greed and excess of the Papacy will permanently shift the power structure of the planet away from the Israeli/Judeo-Christian Zionist prophetic timeline...........


L/L 13

Originally Posted by Love/Light 13

Z-


I believe that if the IMF announces an audit of the Fed, it is an indicator that the Rothschild faction is ready to stick it to the Rockefeller/Israeli faction, and wants to bankrupt the US oil slinging tycoons. The problem for the Rothschild/Illuminati is that they are bankrupt themselves! It appears the end of Western world domination may be coming to an end. Russia, China, and Iran may be forging a powerful alliance that does not need the European/US contingent. Talk about a paradigm shift.

********************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"

Bush was read the riot act over three months ago by the European powers (banking / criminal syndicate). He essentially promised to do what ever was needed to quell the storm....if in return they would delay the opening of the Fed's "off market" books.....effectively showing the world that they are broke, until he was out of office and safely holed up in South America on his newly purchased ranch.

Such are the perils of "incremental banking" laws. A house of cards will now come tumbling down.