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Government Insider tells me Economic Collapse is Imminent.

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posted on Jul, 14 2011 @ 12:40 PM
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Everyone wants to pin point blame when we have reached a systemic problem. This is why I am opposed to trying NAZI prison guards. Everyone today, even in Germany, recognizes that Hitler was bad for Germany and the NAZIs did horrendous things. Yet, systemically, the Germans allowed this to come into being and the more it came into being the more it was accepted as the way forward. Germany became a systemic problem with a lunatic in charge. Once the German army conscripted someone, what were they to do but march off to war?

Now fast forward to today.

Now we have a Kenyan in charge of the US government and got there through vote fraud (forged documents of nationality) and no one said anything but the document experts who were familiar with Adobe Photoshop, scanners, etc. While most agreed that the forgery was clear, politically it was set as benign. Even if the documents were legal, the Constitution says that a Natural Born citizen (not just a US citizen) can be president. That means someone who has both parents as US citizens. But this fact of the Constitution was ignored.

Now we have a Kenyan as president (sees himself as a King) and no one said anything because it was not politically correct. Now we have a systemic acceptance of this violation just like we have a systemic acceptance that the government should bail out the banks to the tune of 3 trillion by putting the full faith and credit of the entire American people on the line. Now the line is being questioned because the debt was transferred to the American people from the banks. That has become a systemic failure. While many of the 4 million defaulters should not have made loans by banks bullied by government, many are now just victims of a recession with high unemployment. How come not a single person besides Mitt Romney seems to question Obama's original promise that unemployment would not go above 8%? Can a person just say whatever they want in politics without being questioned? That seems to be the case with Hitler and Obama. But now the lies have reached the system itself. True victims are now emerging.

But it doesn't stop there. We have Kissinger that went on a 2 decade public affairs scheme to transfer industry, finance and military prowess to China. No one said anything. We are being systemically changed and no one is saying anything just like the Germans said nothing about Nazi Germany.

Our reality is now that we face events similar to the Soviet Union in 1986 unless we change course. How can the Union hold together under the weight of socialist failure?



posted on Jul, 14 2011 @ 12:46 PM
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reply to post by OutKast Searcher
 


It is the responsibility of the banks to clearly explain to their contract partners the terms and consequences of the contracts, and to give as accurate a picture of their own future behavior as they know it at the time.

It is their responsibility to the nation whose wealth and infrastructure they use, whose protection they rely upon, whose legal systems are a necessity, to be truthful and do no harm to the system that they benefit so much from.

It is their personal responsiblity to behave in an ethical, moral, and legal manner, all of which they failed to do. It is no one else's responsiblity to MAKE them behave, it is theirs to do of their own accord. Shareholder demand for higher profits doesn't absolve them of this.

Most of those "greedy homeowners" you disparage simply bought the con they were being fed: their jobs wre secure if they worked hard, pay would keep up with inflation and productivity, the economy would improve, and interest rates would stay the same. If all those things were true, we wouldn't have this situation.

But the bankers lied; they financed the shipping of the jobs their customers needed to pay the mortgages to other countries, then refused to finance new ones.

Sorry, but you read their responsibilities too narrowly, and a bit too smugly.

This isn't, shouldn't be, a game of "conned ya, gotcha, shoulda known better, suckaaa!!". But that's what passes for ethics in banking these days.



posted on Jul, 14 2011 @ 12:57 PM
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The bankers have been ENCOURAGED by politicians to do sub prime loans and then the loans were sold in packages to other banks. Our entire real estate system has been subject to politics so it is no wonder that the politicians came to the aid of banks to bail them out. THEY ARE THE SAME FREAKING ORGANIZATION for heavens sake. We learned nothing from the Savings and Loan Crisis of yesteryear. We learned nothing from the failures that started in 2008. Even Donald Trump never learns anything from his 4 bankruptcies. It has become a business model.

Unfortunately, now it is bigger than anything before, and politicians are running out of options to put the peanut under another shell and scoot it around.



posted on Jul, 14 2011 @ 01:04 PM
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The US has two options.

1. Allow total meltdown and revolution and civil war come to America.

2. Realize that Obama and Reid tried their socialist plans over the last 3 years and failed and therefore a Republican Congress and a Republican White House will come to financial agreement as to how to pay for everything for the next decade.

We know that Obama would rather take curtain number 1 because he has been an ACORN activist anyway and been a big supporter of the failed "Arab Spring". This could get out of hand and that is why the more talk of it the more Americans stock up on ammo.

However, it is up to the voter now whether or not they want to try curtain Number 2. But those are the only two curtains because 4 more years of failed Obama and Reid will lead to a deficit of 30 trillion dollars and a completely unsustainable economic model.

So good luck.



posted on Jul, 14 2011 @ 01:04 PM
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reply to post by AuntB
 

I have cousins in southern California who have been living in their home without paying their mortgage for 1 year! There are so many people doing that there that the banks don't want to foreclose everyone at the same time for fear of pulling the rug out (what's left of it) of the housing market.

Sounds like the time is coming for everyone to get kicked out at once.

FEMA camps, anyone?




edit on 14-7-2011 by Cryptonomicon because: (no reason given)



posted on Jul, 14 2011 @ 01:19 PM
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reply to post by whathasitcome2
 


Socialist failure?

Conservative failure is more like it.

Conservative policies have been followed pretty much since Reagan, with a brief foray into middle ground with Clinton.

None of the ideas the so-called "conservatives" espouse have proven to be worthwhile societally.

"Trickle down" was/is an utter failure. Without a cap on wealth, either by law or self-imposed, nothing "trickles down": rather greater wealth demands greater shares, as it requires a LOT more to see a 5-10% net wealth gain per annum on ten billion than ten million. The desire for greater wealth is an addiction that can never be satisified.

"Lowering taxes creates jobs".....yeah, right. No further comment needed.

"Smaller Government, fewer regulations, less government intrusion"....so we get less return on what we pay into Social Security, collapsing infrastructure, BP, fracking destroying the aquifers, the banking frauds of the '80's and ongoing, two hugely expensive, pointless, and unwinnable wars on ideas (drugs and terror), TSA and Homeland Security goons fondling our bodies and reading our mail.



posted on Jul, 14 2011 @ 01:21 PM
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reply to post by MegaMind
 



If I walk up to a kid with downs syndrome and tell him I'll give him a nickle for his dime cause its bigger I'm just a smart business man aren't I?


So in short...you are saying that the American people are mentally retarded? So we can't expect them to make responsible decisions?


You talk of personal responsibility ... Giving away loans that can't be repaid and selling them to unsuspecting investors is responsible? Moral?


It is the RESPONSIBILITY of the investors to know the facts behind what they are buying.

I never said a thing about moral...only responsibility.


Buyer beware but seller get away with what ever you can - the American way no?


Unfortunately...yes.



posted on Jul, 14 2011 @ 01:26 PM
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reply to post by camaro68ss
 


Dude, no offense but would you learn to spell "claim". I stopped reading the thread after the 4th wrongful spelling of the word.



posted on Jul, 14 2011 @ 01:27 PM
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reply to post by whathasitcome2
[mo

i want curtain number 3. there is no difference in either of the 2 parties. if anyone knows the difference between the 2 parties please state them, and their voting records. this is a call to all those who keep coming on here defending their darn party. show us how your party is different from the other with facts. dont want talking points or he said she said. just the cold hard facts. if no proof can be given then i will conclude that the 2 party system is in essence just 1 party with 2 seperate sides to keep the people confused.



posted on Jul, 14 2011 @ 01:30 PM
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Originally posted by Ketzer22
reply to post by camaro68ss
 


Dude, no offense but would you learn to spell "claim". I stopped reading the thread after the 4th wrongful spelling of the word.


well it looks like you will be missing out on a good OP. Sorry im a bad speller. im only human. shoot me for it i guess.



posted on Jul, 14 2011 @ 01:33 PM
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Originally posted by apacheman
reply to post by OutKast Searcher
 


It is the responsibility of the banks to clearly explain to their contract partners the terms and consequences of the contracts, and to give as accurate a picture of their own future behavior as they know it at the time.


Prove they haven't.

If you take an adjustable rate mortgage or interest only, or any other unconventional loan...then you are taking a risk on the future of the interest rates. The bank can not tell you the future...they are not psychic. They can not guarantee that you will hold your job for the life of the loan.

It is amazing to me how many people here on ATS play the victim card.

Don't be a victim...take responsibility for your own actions.



It is their responsibility to the nation whose wealth and infrastructure they use, whose protection they rely upon, whose legal systems are a necessity, to be truthful and do no harm to the system that they benefit so much from.


Please show me the law that states they have a responsibility to the nation.


It is their personal responsiblity to behave in an ethical, moral, and legal manner, all of which they failed to do. It is no one else's responsiblity to MAKE them behave, it is theirs to do of their own accord. Shareholder demand for higher profits doesn't absolve them of this.


Prove they didn't behave in a legal manner.


Most of those "greedy homeowners" you disparage simply bought the con they were being fed: their jobs wre secure if they worked hard, pay would keep up with inflation and productivity, the economy would improve, and interest rates would stay the same. If all those things were true, we wouldn't have this situation.


We all take risks...but most people will take responsibility for their actions...these home owners aren't.


But the bankers lied; they financed the shipping of the jobs their customers needed to pay the mortgages to other countries, then refused to finance new ones.


Now it's the banks fault for outsourcing??? LOL.


Sorry, but you read their responsibilities too narrowly, and a bit too smugly.

This isn't, shouldn't be, a game of "conned ya, gotcha, shoulda known better, suckaaa!!". But that's what passes for ethics in banking these days.


The home owners are responsible for what they agree to.

I'm not like you or Mega Mind who try to play these home owners off as being too stupid and clueless to understand what they are doing when the sign the contract for a mortgage.



posted on Jul, 14 2011 @ 01:34 PM
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Originally posted by whathasitcome2
The US has two options.

1. Allow total meltdown and revolution and civil war come to America.

2. Realize that Obama and Reid tried their socialist plans over the last 3 years and failed and therefore a Republican Congress and a Republican White House will come to financial agreement as to how to pay for everything for the next decade.

We know that Obama would rather take curtain number 1 because he has been an ACORN activist anyway and been a big supporter of the failed "Arab Spring". This could get out of hand and that is why the more talk of it the more Americans stock up on ammo.

However, it is up to the voter now whether or not they want to try curtain Number 2. But those are the only two curtains because 4 more years of failed Obama and Reid will lead to a deficit of 30 trillion dollars and a completely unsustainable economic model.

So good luck.


I am a father of 3 children all under the age of 13, my youngest is 19 months. I don't say this lightly, but I think the only option now is number 1. Things need to change is this country and it is going to take a complete meltdown to do it.



posted on Jul, 14 2011 @ 01:36 PM
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reply to post by tom.farnhill
 


we already pay "rent" to live in our homes...it's called property tax. If you don't pay the govt takes it away..what's new? I pay around 100 bucks a month...but some people pay upward of 500 dollars a month. My dad for example owes 7800.00 dollars property tax per year. Even though his house has long been paid off...if he doesn't hand over the 7800.00/year the govt will seize the property and it will be auctioned to the highest bidder....



posted on Jul, 14 2011 @ 01:38 PM
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reply to post by OutKast Searcher
 


to spin-off what you are saying and to add what i and other did, when we bought we bought at the top and was told housing will never fall, we factored in wage incresses every year at 3-5% and would never think in a 1,000 years this would happen. Well it did. Im lucky to still have my job and i still pay for my upsidedown house off every month. its a contract i signed and im going to try my best to pay it off.

Other are not as lucky as me and lost there jobs.

It sucks and its only going to get worse



posted on Jul, 14 2011 @ 01:39 PM
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reply to post by Neopan100
 


You said it! Wouldn't it be nice if we could own the land and still not need an income to keep it. I've always wondered what it would be like to be completely off the grid and self sustainable; however, because of property taxes that is nearly impossible to do.



posted on Jul, 14 2011 @ 01:42 PM
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reply to post by taccj9903
 


Illinois is a KILLER in property tax..not as bad as NJ or NY..but still pretty high..I would say the avg tax is around 3500.00. I own a very..very old house with no barns or out buildings so mine stays pretty low..but I am looking for in increase soon due to the vinyl siding we just put on.

Plant a tree you get taxed...clean up your property get taxed...add anything from out house to dog house and we get smacked down with increase..I hate it. But we are trying to move out of this god foresakin' state.



posted on Jul, 14 2011 @ 01:47 PM
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Originally posted by Neopan100
reply to post by taccj9903
 


Illinois is a KILLER in property tax..not as bad as NJ or NY..but still pretty high..I would say the avg tax is around 3500.00. I own a very..very old house with no barns or out buildings so mine stays pretty low..but I am looking for in increase soon due to the vinyl siding we just put on.

Plant a tree you get taxed...clean up your property get taxed...add anything from out house to dog house and we get smacked down with increase..I hate it. But we are trying to move out of this god foresakin' state.


I'm originnaly from that "wonderful" state. I left when I was 21 and haven't regretted it at all. I live in Colorado now and love it. However, I am renting at the moment so I don't know if the property tax situation is any better. If I didn't have kids I would defy the gov't and stop paying taxes all together and take my chances.



posted on Jul, 14 2011 @ 01:48 PM
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Originally posted by sputniksteve
reply to post by camaro68ss
 


Lol you don't have the first clue what you are talking about. What is the bank claming? They are claming loans? I don't even understand half of your secret message. Are you running for the hills with your canned food then or what?

What are you doing differently because a no BS guy in the gun shop leaned over the counter and whispered in your ear that the bank was claming 4 millions loans soon? Do you really even understand what QE is?


I understand well whats going on and no im not heading for the hills, yet
, and im not changing anything. im just telling you what i heard and if you read all the post i picked through the details alittle more for people.

it all comes down to banks not taking there loses "Claiming there losses, loans" and taking there hits and forclosing on homes.

what dont you get about that? i guess i can write a book on it to help you out. you must be one of those status quo types, beliving everything if fine? "Dont worry, we are the goverment and we are hear to help you" what a joke
edit on 14-7-2011 by camaro68ss because: (no reason given)



posted on Jul, 14 2011 @ 01:55 PM
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Originally posted by camaro68ss
reply to post by OutKast Searcher
 


to spin-off what you are saying and to add what i and other did, when we bought we bought at the top and was told housing will never fall, we factored in wage incresses every year at 3-5% and would never think in a 1,000 years this would happen. Well it did. Im lucky to still have my job and i still pay for my upsidedown house off every month. its a contract i signed and im going to try my best to pay it off.

Other are not as lucky as me and lost there jobs.

It sucks and its only going to get worse


I understand this, but this is a common risk that everyone takes when they take out a loan. The banks have nothing to do with this, unless you are suggesting they knew about the upcoming unemployment issues when they issued the loans....which I don't believe they did.



posted on Jul, 14 2011 @ 01:59 PM
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reply to post by camaro68ss
 


This is my take on it – from the inside working with a law firm that represents banks doing foreclosures, etc. Not my favorite job I might add.

• the bank hires us to begin foreclosure proceedings
• research tax records
• find many errors
• solve errors
• get new appraisals
• write letters to debtor about foreclosure process
• don’t get a response/get a response
• some debtors will try to work out a deal – some actually are able to do that – great
• send notice of publication of foreclosure
• cry out at courthouse
• file petition for confirmation
• sometimes debtor responds/sometimes not
• bankruptcy is usually filed at this point
• but if debtor responds, go into discovery period, usually they have to admit they owe the loan
• bankruptcy is filed at this point as well
• if no response to complaint, try to locate debtor to pay difference in sale from amount owed
• usually written off if unable to locate debtor as they will normally file bankruptcy

Oftentimes the debtor has sold the property to some unsuspecting poor person who doesn’t have a clue his house is going to be taken away. This is the fault of the person representing the buyer by not ensuring there were no deeds securing the debt prior to the new buyer taking the property.

This process lasts for several months. By this time, the bank has spent thousands in fees and expenses in addition to the losses. However, they are forced to use this practice by the government in an attempt to recoup losses. I’d say so far they get about 25%-30% of their money back in some form or another.

Keep in mind also a lot of the loans are based on contents as well as real property. So if you have a business you want to start, say an ice cream store (which banks actually hate because there’s little equipment), then you get a loan on the equipment. When you default on the loan, they go after the equipment. If the equipment still exists. If you own say a furnishing company, you go after their inventory. Most of this gets sold (disappeared) from the time of the notice of possession to the actual service of the suit.

It’s a no win situation for everyone involved. People go bankrupt, sell their inventories, move their equipment, banks don’t profit and spend tons in legal fees and expenses. The only people making money on this are the attorneys – sad to say.

It’s all a big dog chasing its tail. It can’t end good.

peace




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