'Hello, Central!' What Is the Real Reason For the Big Rush To Bailout The Banks?
Patrick H. Bellringer
From: D
To: <bellringer@fourwinds10.com>
Sent: Saturday, September 27, 2008 3:21 PM
Subject: Siterun Contact Request from Fourwinds10
The REAL reason for the big rush to bailout???
Saw this explanation on another thread and thought it deserved a thread of it\'s own.
It has the ring of truth and explains a lot.
Do you wonder why the big rush - why does congress have to do something IMMEDIATELY?
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.
Basel II is part of an international standard that banking regulators use when creating regulations about how much capital banks need to put aside to guard against financial and operational risks. It\'s designed to help protect the international financial system from problems that could arise if a major bank or group of banks collapse. It requires banks to hold capital reserves of an appropriate amount depending upon the banks risk exposure through lending and investments. In other words - however much money the bank lends or puts out there in risky investments - they have to cover a percentage with actual capital.
Europe has already adopted and implemented the accord. US Banks got a 90 day extension to get their books in order. That extension expires Sept. 30. By Oct. 1, US banks must be compliant or they cannot do business with compliant banks. So that would mean they could no longer do business with other countries that have implemented the accord.
THIS IS WHY THEY CAN TALK ABOUT 700 BILLION. 700 BILLION IS NOT ENOUGH TO COVER - BUT IT\'S ENOUGH TO BRING THE LENDING INSTITUTIONS UP TO MEETING THE CAPITAL RESERVE REQUIREMENTS. IT WILL ALLOW THEM TO CONTINUE TO DO BUSINESS OVERSEAS.
(Response)
FROM: Patrick H. Bellringer
TO: D
DATE: Sept. 30, 2008
SUBJECT: Reply
Dear D:
Thank you for your letter and suggestions for the rushed bailout of the U.S. Banks. The end of the U.S. Government fiscal year on September 30, 2008 is a very important date in this financial transition period. Information is being withheld from us, but it appears that Basal II is also impacted by this same date.
The Global Banking System is moving into position for implementation, and it is possible, even probable that these facets shall all join together with Prosperity Program deliveries and the implementation of NESARA this very week. Only time shall prove this correct.
In Love and Light,
Patrick H. Bellringer