Pipes, Filters, and the Monetary Food Chain, Part 1
PIPES,
FILTERS AND THE MONETARY FOOD CHAIN, PART 1 One of our regular readers sent FSO the article on the Mortgage Bond Market in a pickle, and it got re-routed to my desk. I read the article. Now let's consider that there are regular mortgage fraud, regular appraisal fraud, predatory lending fraud, insider foreclosure fraud, and insider mortgage servicing fraud. This pickle barrel is quite interesting with Kosher Dills, Sweet Dills, Sweet Pickles, Sliced Pickles, Peppered Pickles, Sandwich Slices, and you name it. There's even some Bread and Butter Pickles in this barrel. Tennessee Legal Services has a great webpage with some nice links on subprimes and Mortgage Servicing and Foreclosure Fraud. They even name a few names. If the housing market goes belly up, let me tell you folks.... 800,000 Jobs is but the first plate the iceberg knocked off the hull of the RMS Titanic in 1912. I suspect there will be a lot more folks than that in the soup lines...? or finding themselves in some rather chilly water? Hypothermia, anyone? Got gold and silver, or just a bunch of over-debt laden and expensive real estate and commercial property as a so-called investment? Around Columbia, Missouri here in Boone County there has been a speculative fever building office and retail space over the past few years, a lot of it still sitting vacant. Who's the Huckleberry? Did anyone buy gold at $250? $260? $265? $275? $285, when no one wanted it, and the Federal Reserve was telling folks in Greenspanease Mumbo Jumbo that it wasn't real money. Has anyone connected the dots that this pack of central banker rascals are stealing the value of your money through the paper money printing press running 24/7, while they use real estate perpetually inflating to re-invent your wealth [ehhh, I mean debt]? Was it PT Barnum who said a sucker is born every minute, or was it WC Fields in The Bank Dick? Gold at $520 is yesterday's news since it just popped over $530 on December 9, 2005. Where it will land today, I don't know. However, being aware of Midas Bill Murphy over at Le Metropole Cafe and www.gata.org, Midas is probably jumping up and down from one foot to the other, as he's on the telephone with his favorite hospital supplier down there in Dallas, ordering new stretchers and gurneys for the Gold Cartel [Cabal]. We feature some excellent commentary from our favorite Texan, Congressman Paul, in a couple of links. One of the great things about central banking being able to print money out of thin air is the ability to Empire Build anywhere you want to. We feature some fairly good links on subprime lending, and Mortgage Loan Solutions seems to keep track of some of these rascals in the subprime gig. If you go to their homepage, click down to the bottom of the homepage, and read "The Nuclear Option." If you do, hold onto your chair, one might fall out of it! Inner City Press has a couple of interesting watch pages on a couple of the Big Boys. Dr. Lind's essay on the Secondary Mortgage Market is about 15 pages in pdf, and is quite entertaining as one can follow the money. From Author Bert McLachlan's essay linked above at the Mises Institute, we have this priceless quote in the last paragraph: If those in Washington wonder why inflation is coming on, why everyone is alarmed about the prospects for retirement income, and why the dollar is headed further down the tubes in the foreign currency markets, they should realize that the rest of the world does know what is going on, even if Congress doesn't. No, I have no idea where all this stuff is going to end, but it isn't a very pretty picture at all. Real estate as a store of value? Perhaps if there is no mortgage on it. Although I love my adobe hut because I don't want to live in a cave, I wish I had it paid for. The great thing about heavy metal is that once you own it, it doesn't cost you anything to keep it, you don't have to put a new roof on it, heat it, cool it, or paint it.... and you never have to worry about changing the decor! -- or making a mortgage payment to the banking cartel. Happy
Holidays!
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