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sd_bear
16 years ago

Great read. I only wish
Great read. I only wish commentaries like this would be reported by MSM.

Anonymous
Anonymous
16 years ago
Reply to  sd_bear

I highly doubt MSN or any
I highly doubt MSN or any other mainstream BS channel would even hint of such crookery…it would expose the true financial objectives of corporations…but who would really care right? At this point, I think people have become so dumb and so stupid that you could tell them anything and they’d simply get back in their SUV’s and keep going to their 24 hour grocery stores.

It comes as no surprise that the truth behind this plan is what it is. I’ve always been a “tin foil” hat person and have been accused many times on many websites about being a loon and believing in conspiracies. Unfortunately, this is only the tip of the iceberg as far as I’m concerned. There are some powerful groups out there that shape our way of life. We have no say in it, not here at least. The MATRIX movie is not too far off with the concept it demonstrates EXCEPT that we are fully awake while it’s happening…which is even more amazing given how stupid people must have become to accept it all.

Funny thing this whole work/job thing…first it was slavery…now it’s called employment..albeit a far milder version but nonetheless a more psychological form of the same thing.

It does not surprise me one bit that this crap is being endorsed and promoted by the scumbags who now reside in the white house. How people can actually sit down and watch TV regarding these people and all the lies they have perpetuated over the last X number of years is beyond me.

I say Americans FULLY deserve what they get. People here seriously do deserve to get fully shafted and nothing less.

lendingbubblecontinues
16 years ago
Reply to  Anonymous

Hear, hear!

Hear, hear!

Anonymous
Anonymous
16 years ago
Reply to  Anonymous

Also, another thing…while
Also, another thing…while people believe that this is a MESS per say, I don’t think it is for the higher ups involved. There’s money to be made off the backs and misery of others. The amount of money being made during the RE hype and now during the downturn is HUGE…wiping out people’s wealth WILL go into other people’s/corporation’s pockets.

This money isn’t going to just simply disappear…someone’s going to get it and it won’t be the general public.

Arraya
16 years ago
Reply to  Anonymous

Well here is some tinfoil
Well here is some tinfoil hat porn for ya…

There is a fundamental difference between financial fraud and warfare implemented by financial means – a financial coup d’etat, if you will. For citizens and investors trying to navigate current events and markets, it is well worth pausing to gain perspective on current events and contemplate which type of event we are experiencing.

As I write to close the Scoop Media serialization of “Dillon, Read & Co. Inc. and the Aristocracy of Stock Profits”, the corporate media is unfolding daily revelations regarding the sub-prime mortgage market “crisis” and accelerating decreases in bank liquidity and equity.

In the news today is the announcement that UBS, the Swiss bank that bought Dillon Read, now totals its mortgage market losses at $10 billion. These losses began with write offs earlier this year by its recently launched hedge fund, ironically named Dillon Read Capital Management.

Also in the news are the latest efforts by Andrew Cuomo, now Attorney General of New York, to subpoena Wall Street perpetrators of the mortgage bubble that apparently got under way – depending on the account you read – in 2001 or 2004. We seem to have somehow missed that the criminal mortgage patterns that we are watching has been growing for decades. We seem to be missing the fact that the latest cycle began in 1996 as part of the ‘strong dollar policy” and that Mr. Cuomo and numerous other current players and their organizations were leaders in starting and building the current mortgage markets and losses.

If you step back and view the current events as the latest pump and dump of the US real estate market (like the S&L crisis and others before them), you will shed a different light on the current players and their roles. You will also shed light on the fact that the investment model we are watching is far from new. Indeed, it is quite old and continues to be quite successful for those who know how to exercise it and its many privileges.

“Dillon, Read & Co. Inc and the Aristocracy of Stock Profits” is a case study that describes events in Washington, DC during the second term of the Clinton Administration at the onset of the ‘strong dollar policy’ and the housing and mortgage bubble.

The strong dollar policy was an organized effort by the Federal Reserve and the US Treasury acting in concert with G-8 to increase the market share of the US dollar as the reserve currency. Simultaneously, significant amounts of capital were moved out of the US into emerging markets. Capital was move into areas where currency and equity values were low as a result of a series of co-incidental credit crunches.

The combination of a rising dollar and falling currencies in the emerging markets combined with significant emphasis on “privatization” in the emerging markets made it possible for financial equity to “sell high, buy low” as it shifted out of the Western economies into financing a steady centralization of ownership and control of resources and enterprises throughout Eastern Europe, Asia and Latin America.

The strong dollar policy was a financial “stool” that stood on numerous legs:

– A significant relaxation — and increase in amounts outstanding — of housing, mortgage and consumer federal and bank credit that significantly increased liquidity in the US and in the Western economies.

– A significant increase in government debt and relaxation of monetary standards to support ever-increasing dead loads.

– The movement of significant capital out of the United States through covert financial movements — including the pump and dump of the stock market (internet and telecommunication stocks) and $4 trillion missing from the US government accounts facilitated by the bipartisan commitment to refuse to produce audited financial statements by the US Treasury and a willingness of the US Depository, the Federal Reserve Bank of New York and its owners, its member banks, to manage accounts not managed in accordance with the law.

– The steady assumption of critical government functions — including military — by private corporations and banks through government contracting and program vehicles.

– Increased intervention in the capital and commodities markets by central banks, including suppression of the gold price, using complex financial instruments, including derivatives.

– Increased use of corporate media and covert mechanisms to diffuse or stifle transparency or overcome legal obstacles to this significant shift of resources into centralized control.

If we step back and observe events as they really are, rather than as we wish them to be, what becomes clear is that we are watching the reengineering of global governance. Resources – including precious metal inventories and powerful intelligence and weaponry– are being shifted out of the hands of individuals, communities and governments into private hands. Everything from currencies to militaries is now being controlled and managed in non-transparent ways by private corporations and banks.

The bubbling of the mortgage market has been a huge success. Billions have been moved out of the pockets of the middle class and their pension funds and the municipalities. The enabling institutions now have “losses,” hence they need to be “saved” justifying another round of funding paid for by both government taxes and an inflation tax. No one is asking where the money went and how to get it back. Rather we are anointing the people who engineered the bubble in the first place to now “clean it up.”

Where this goes, no one knows. We know the point of financial coup d’etat is one world currency and one world government – global feudalism, if you will.

However, as a small group of Americans reminded us several centuries ago, our freedom comes to us by divine authority. Government’s come and go – but our thirst for freedom is enduring and may be a tad more difficult to control despite all the latest advances in digital technology and black budget weaponry. One world government sounds simple – it is a lot harder to pull off when the plan is out of the closet and the organizing forces have little beyond force and greed to hold most people in check.

What those who love freedom most need right now is an honest map. The theft of billions in the mortgage market was not a fraud – it was a plan. The success of this plan is unfolding before our eyes. If you wish to understand what is really happening – to your savings, to your community, to your pension fund, to your world — you should read “Dillon, Read & Co. Inc. and the Aristocracy of Stock Profits” and explore the wealth of supporting documentation.

NOTE:
To help follow current mortgage market events, see the compendium of links, Who’s Who in the Housing & Mortgage Bubble at Catherine’s Blog http://www.solari.com/blog/?p=256

*** See ” Dillon Read & Co. Inc. And the Aristocracy of Stock Profits” series at: http://www.dunwalke.com

gold_dredger_phd
16 years ago
Reply to  Arraya

You should read, “Where are
You should read, “Where are the Customer’s Yachts?”

That tells you everything about what Wall Street is and was. They’re all sleazy salemen looking forward to their year end bonus and they don’t care how they do it.

Anonymous
Anonymous
16 years ago

Why is there this assumption
Why is there this assumption that these borrowers can just walk away from the house with no attempt by the mortgage holders to go after their other assets? Is this a California thing? are all of these refi’s and 2nd mortgages no recourse?

Anonymous
Anonymous
15 years ago
Reply to  Anonymous

The mortgage is against an
The mortgage is against an assett, the house. And, in most cases, the banks or mortgage companies themselves pushed valuations far above reasonable market values by brute force appraisal tactics (similar happened in late 80’s.).

In short, its the banks bloody fault, now they have to eat it!

Would you consider, maybe, making indentured servants out of the people who walk away?

[quote=MAttJ]Why is there this assumption that these borrowers can just walk away from the house with no attempt by the mortgage holders to go after their other assets? Is this a California thing? are all of these refi’s and 2nd mortgages no recourse?[/quote]

fuggy
15 years ago

Continuing the slavery/tin
Continuing the slavery/tin foil hat/conspiracy theory bit…

Our 401Ks and pensions are being dissipated by the Treasury diluting the dollar and at the same time illness is skyrocketing. 1 in 150 boys autistic.
Diabetes is epidemic.

Every year the pharmaceutical industry pushes the flu virus vaccine,then, at the end of flu “season” claims the vaccination didn’t work for 9 out of 10 of the viruses…

Making us too sick, too pre-existing condition to ever quit work or protest corruption is part of their plan…

Anonymous
Anonymous
12 years ago

How can it be that we bail
How can it be that we bail out incompetent banks, who leveraged into this crisis, and then blame homeowners for getting frustrated and playing the banks’ game.

I refused to pay 15-20% to any credit card, stopped making payments when they refused a reasonable payment offer, and closed the accounts. Hell- if they feel they have the right to rape me with 22% interest after being bailed out in order to even exist, then I feel fine telling them what I am willing to pay (4%, a 3.75 spread over their access to Fed funds rate).

This unilateral one-way directives from banks is old school crime. The money belongs to the people ( The Treasury prints money based on constitutional requirements; the Treasury is a department of the government; the Government is of the people, by the people, and for the people). Banks are private enterprises, and are inefficient at distributing money – and they are thieves –

Look at what Geithner did – he gave MF Global special access to get preferential treatment, even though they had a bad balance sheet and were leveraged 40:1. Look at Geithner collecting bank CEOs and Colluding with them to shrink the banking sector in a monopolistic manner, totally against free enterprise. Collussion and monopoly tactics should be eliminated.

Look at how the banks distribute access to funds – it is all smoke and mirrors, and me using bankruptcy, delayed payments, and negotiated terms with the consumer dictating terms is how I believe it needs to be until banks are removed from the system and the people get direct access to the Fed window – that would be much more efficient distribution of capital, which is what capitalism is all about.

Banks assume that it is their money. It is not their money. It is the people’s money. Let us not forget that. Believe it or not – I work at a bank – but what we have witnessed is fraud, abusive greed, and false blame – the worker deserves debt relief more so than Greece, Italy, Portugal, Spain, and Banks. And if they get it and we don’t, then I am ok with people refusing to pay and walking from their debts. It is either fair for all, or it is not fair. If they can’t extend assistance when we need it, after we extended them assistance when they needed to be bailed out, then screw them completely and let them suffer too.

Anonymous
Anonymous
12 years ago
Reply to  Anonymous

According to the latest
According to the latest statistics, only 9% of people reaching retirement age have achieved financial success to such a degree that they may live with dignity thereafter without depending upon further income. Eighty-six percents of the 92% of all people having sixty years of age and over are still employed or are trying in some manner to earn all or a part of their livelihood and the remainder are dependent upon public or private charity organizations that provide some help…And a very small part of them actually earn enough for their vital needs, having to use loans for bad credit and very few earn much more for their declining years.