Here is the 1023 link for members The Road to Roota take on the crash of 1987
October 19, 1987 - 25 years ago the very first take down of the banking cabal was attempted by the Good Guys. Newly elected Fed Chairman, Alan Greenspan and his computer programs sent the market into a free fall spin. His aim was to completely destroy all financial markets flushing out all the "bad players" and starting fresh with a NEW MONETARY SYSTEM based on physical gold in the United States.
Here's a good summary by Art Cashin posted on ZeroHedge.com of what the mainstream media reported...
http://www.zerohedge.com/news/2012-10-18/art-cashin-25th-anniversary-black-monday
"Every ten minutes or so, someone would rush up to Phelan and slip him a note or whisper in his ear. It was evident that things were deteriorating. As I headed for the floor, I went past Phelan's table, put my right arm across my chest and said -- "Nos Morituri Te Salutamus Esse". It was the gladiator's salute to the Emperor -- "We, who are about to die, salute you". Phelan nodded without a smile."
"Meanwhile, back on the floor, the situation felt more unreal. Orders flowed in faster and faster and the tape ran later and later. (The tape was linear and the human eye can only recognize a certain number of symbols per second, 900 I think. To run faster than that would make the tape an unreadable blur. Traders can trade faster than the maximum reading speed -- so the tape ran late.) One broker said it was like a bizarre dream sequence -- nothing seemed real."
"In late morning there were signs that the markets might begin to stabilize. Then the newly appointed Chairman of the SEC, David Ruder, was intercepted by reporters leaving a meeting at the Mayflower Hotel in Washington. Whatever they asked and whatever he said, it somehow was reported that the markets might have to be halted. Later, he would swear it was a typo but you can't un-ring a bell. The fear of a halt sent buyers scurrying away. Stocks went into virtual freefall."
"NYSE Chairman Phelan reached out to the recently appointed head of the Fed, Alan Greenspan. Unfortunately, Greenspan was on a plane. Desperate, Phelan called the President of the New York Fed, Gerry Corrigan. He sensed the danger immediately and began calling the banks to reopen the credit lines. They were reluctant but Corrigan ultimately cajoled them. The credit lines were reopened and the halted stocks were reopened. Best of all, the market started to rally and closed higher on the day."
"It was an incredible time and the financial system was within hours (and a few phone calls) of an absolute collapse. It was a time I'll never forget."
So that was the take of an "inside old timer" on what went down that fateful morning. But the reality of HOW IT HAPPENED was much more telling. Like every market calamity since the early 1970s'...it was caused by COMPUTERS!
Here's another take on what happened...
Remembering Black Monday, When Computers Traded Too Many Stocks and Wall Street Crashed
http://www.cio.com/article/147406/Remembering_Black_Monday_When_Computers_Traded_Too_Many_Stocks_and_Wall_Street_Crashed
"Twenty years ago, automated trading systems contributed to investor panic and a historic drop in the stock market. Historians still draw lessons about market volatility and regulatory oversight from the Black Monday crash."
"Back in the summer of 1987, a few months before Black Monday, something had been bothering Rep. Edward Markey (D-Massachusetts). A robust stock market had been slowing down, and Markey says he worried about the role of program trading--where computers automatically buy and sell stocks based on algorithms set by stock trading companies. He was concerned about the possibility that stocks, options and related futures markets would become volatile. If the market experienced rapid sell-offs, for instance, driving the price of stocks down to a certain level, the computers would then be programmed to sell very quickly without consideration to the human panic or hysteria of a tough day on Wall Street."
"As chairman of a House subcommittee on telecommunications and finance, Markey called a hearing to look at program trading in July 1987. "While many of the industry witnesses argued that there was nothing to worry about, I was not convinced they were right," he remembers."
"After the market dropped 91 points on Oct. 6, Markey wrote to officials at the Securities and Exchange Commission (SEC), asking them to research what happened. Twelve days later, he watched it unfold on his television. "Watching the crash take place on CNN was a gut-wrenching experience," he says. "My worst fears were realized."
"Although economists say that program trading wasn't the only factor at work on Black Monday--dried up liquidity, a lack of visibility into market conditions and irrational panic on the part of investors also played key roles--most acknowledge it was a factor. "We haven't agreed whether or not program trading was the primary culprit, but there's been consensus it played a role," says Paolo Pasquariello, assistant professor of finance at the University of Michigan's Stephen M. Ross School of Business."
Those who have followed the Road to Roota Theory know that Roota or "RootA" comes directly from the early computer rigging programs written by Alan Greenspan and his friend John Kemeny designed to control the markets.
The Road to Roota Theory
http://www.roadtoroota.com/public/190.cfm
It is not a coincidence that Greenspan was placed as the head of the Federal Reserve bank the summer before the crash of 1987. Greenspan had planned to crash the monetary system to destroy the Bad Guys and return us to a Gold Standard. Unfortunately, the Greenspan plan backfired in 1987 as it was not large enough and all-encompassing enough to crash everything. The banksters pulled out all the stops and succeeded in maintaining control.
Over the ensuing years Greenspan was relentless is creating a bigger and bigger monument to phoney money keeping interest rates as low as possible and fighting to the death for NO REGULATION on the newly created derivative markets. Basically, Greenspan wanted to give the banksters enough rope to hang themselves.
By 2007/2008 the monument to fraudulent monetary instruments was so great that toppling the system was easy. A few keystrokes here and a few keystrokes there sent the system into a tailspin. He had won...the banksters were all insolvent.
So why didn't it all come down as he had planned?
WE THE PEOPLE WERE NOT READY!
We panicked. We didn't know what was going on. We let the banking cabal, lead by Hank Paulson, hold a gun to our heads and we gave them more money and more time. Not much more...but enough such that we could EDUCATE OURSELVES as to what was happening so we would be READY when the next crash came.
That has been the reason for all the delays. Education of the masses as to what our problems are so we will be ready to face the Banksters head on when the next crisis hits.
WHICH IS NOW!
Everything I watch and follow is flashing NOW! NOW! NOW!
"Drake" has sent out an alert that it is TIME...as in within the next few days not weeks or months! BEFORE the election...if there even is one held.
It sure fits with the Road to Roota Theory and everything else I follow.
Buckle up quickly.
May the Road you choose be the Right Road.
Bix Weir www.RoadtoRoota.com
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