More important than the election, will be the Bretton Woods II financial summit on Nov. 15, 2008.

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Money As Debt

http://www.youtube.com/watch?v=vVkFb26u9g8

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This is where every AMerican who gives a damn ought to protest. This is where the New World Order will be finalized, this is where we need an asteroid to strike.

I don't think the financial summit being held on November 15th is a coincidence. November 15th should be as rough day for Wall St.....from the article below....

"""""Reuters reports that November 15th (45 days before year end) is “D-Day” for the hedge fund industry. Problem is, the more this is reported, the more investors are likely to want to redeem.""""""""

Stigma of redemption gates fading fast
Nov 3rd, 2008 |
Apparently, the stigma associated with closing redemption gates is quickly disappearing. As Thomson reports,

Blocking investors’ exits, even if only briefly, was once a highly unusual move that often signaled a hedge fund was on the verge of collapse, managers and investors acknowledged…That is changing now as ever-more managers and investors engage in a tug of war over who can receive money right now.”

Wealth Bulletin cites 6 hedge fund managers that have suspended redemptions and several that have offered “sweeteners” for investors to stick around. The list of new gates includes: Centaurus Capital, Polygon Investment Partners (old news), Gottex Fund Management, Wermuth Asset Management, Auriel, and Atlantis Investment Management. According to the publication, favorable fee sweeteners have been offered in exchange for locking-in capital at: RAB Capital, Ramius Capital, BlueBay Asset Management and Henderson Global Investors.

The Times reports on an interesting twist. RAB Capital, says the paper, is offering a form of IOU to investors that promises to pay them out as soon as the firm can sell the requisite securities (not, we assume, at some later redemption date).

The ground isn’t the only thing being frozen in Minnesota this fall. Investment News reports that Deephaven, the $1.6 billion multi-strategy fund, froze redemptions when 30% of investors asked for their money back. Apparently the fund was up 16% per year for 10+ years, then hit the skids with a -25% YTD by the end of October.

Meanwhile in Australia, long-only funds have also closed their redemption gates. According to Bloomberg, Perpetual Ltd. has suspended redemptions from its income and mortgage funds while Everest Babcock & Brown has suspended redemptions from its own income fund.

A letter from Pentwater Capital to its investors gives some insight into how redemptions affect fund management. HedgeCo.net reports that the firm recently created two different liquidity/fee classes and told investors: “The entire hedge fund industry is bracing for large redemptions at year-end so as not to become forced sellers in the midst of a severe market crisis…If the Fund were to meet the year-end redemption requests we have received, the Fund would be forced to sell more of its investments into one of the worst markets since the great depression.”

The Wall Street Journal estimates that the recently imposed gates govern around $20 billion, although it’s not clear what it defines as “recently”.

Although the notice period required to redeem from a hedge fund can range from 30 days to 90 days, Reuters reports that November 15th (45 days before year end) is “D-Day” for the hedge fund industry. Problem is, the more this is reported, the more investors are likely to want to redeem. Reuters cites experts who say funds of funds are redeeming 15-20% from their underlying managers just in case.

One manager warns that the rush for the exits creates a self-fulfilling prophecy. David Thompson of Collingham Capital told a conference audience in London recently that:

“One of the problems has been that investors have been getting out too quickly. You don’t want to be in the situation where you invest in something where a lot of people want to get out at the end of this month, the end of this year, or on a daily basis.”

Even regulators are weighing in on the issue of preemptive redemptions. The head of the UK’s Financial Services Authority told the same conference audience about one reason why he thinks hedge fund investors were stampeding to the exits:

“…gate structures that may have been established several years ago may need to be reviewed in order to avoid generating additional redemptions from otherwise satisfied investors taking steps to avoid being ‘at the back of the queue’.”

of the petrol industry, the World Bank's policies on forcing other countries who want to trade in the "World" or "Free Market" to accept it.
Taxing us doesn't really put value to the currency, it just controls the masses, because there is no true accountability.
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"The real terrorist's are in this country and they are not planning to blow us up, but rather, take our money, our freedom, and our country."

Woudn't that make it "Bretton Woods III"?

Expect massive inflation after the USD gets dropped as the world reserve currency... Demand for $ will go down, hence its value plummets.

PS. Not to be a jerk but, "die" is cast =) . Alia iacta est.

and... read the comments section of this article. there is some REALLY good info tucked in there.

thank you for sharing ralph waldo!

This would be good news for AMERICAN LIBERTY...
weee

is that the strength of the dollar and the return to investment in Treasuries has every appearance of being based on only one thing: the ability of the Government of the United States to hold its' citizens, corporate and otherwise, in thrall with compulsory income taxation.

"The Fed as a central bank to the world"

"Nicolas Sarkozy may be pushing for a new financial order but Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson have beaten him to it."

"While the French President dreams of global economic cooperation ahead of the G20 summit in Washington, the Fed is quietly becoming central bank to the world, backed by the full might of the U.S. Treasury and a teflon-coated greenback."

"The U.S. dollar's status as the main currency of international and central bank business has barely been tarnished by the whole sorry credit crisis. The flight to the perceived safety of U.S. treasuries has been unstinting."

"Europe may push for something grander but Mr. Truman is wary. "If they think they're going to use this to gang up on the United States and get the United States to issue mea culpa after mea culpa and turn the supervision of our financial system over to a college of officials from the rest of G20 for the next five years, they have another thing coming," he said."

"Until the greenback falters, the United States is firmly in the driver's seat"

http://www.financialpost.com/news/story.html?id=927271