"Tea Party GOP Drives US Towards Catastrophic Default, World Panic"

Originally posted by Janky Red
Do you get a home in exchange for the "garbage" money? Yes

Is that home of value? Yes

Can that home be converted into it money? Yes

The home is rented, until the bank reposesses it because homeowner falls into the pit (aka job loss, aka family tragedy, aka NO MONEY BY DESIGN). It is a war against families. Witness that it costs hundreds of thousand dollar to have SHELTER? That is ridiculous. Face facts: The whole concpet of US home ownershis is based on inflated fake money, and credit up the yang, that bites hard when you lose a job. Well if you are an insider you'll never lose your job right? All the more evidence of a two teir system, and the "single family dwelling" is the main guillotine by which families are killed.

If you stayed in your home through the "Greenspan gutting", you are a loser, your equity is worthless because all the land courts of the US now have weeds sewn into them by large corporations whose job it was, to destroy those courts.

If you 'flipped' homes according to the Greenspan gutting ethos, then you made tons of "money". If you were a debt-loving asshead, who flipped homes, then you now have a giant pile of fake-cash. So the morons who see single family homes as things which have nothing to do with sheltering families, why, they're doing great! It is just the ACTUAL FAMILIES that are screwed.

Can you spend a moment talking about the criminal ass, A. Greenspan and his master or puppet, A. Rand? Do you have anything to say about the actual people who sail us down this river? Because you sound like some tool for them. Notice that neither of them has any family of merit. They are atheist, asshead loners who worship money and have contempt for the family. All the globoschemers like Trotsky, Lenin, Rand and Greenspan have seriously malnourished hearts, and they are a danger if given any power, and that is a proven fact which we are now living.

The Tea Party/Republican Baby Boomers who want "Hands off my Medicare" (as if Medicare has been anything other than a gov't program) and their "entitlements" (Soc. Sec. is a TRUST FUND, not an entitlement) and be damned about everyone, everything and anything besides 'them', should get ABSOLUTELY NOTHING!

I mostly feel bad for the children and babies that are here now because of what is going to happen to the country but these poor excuse for American citizens deserve nothing. These people have been basically running the country (into the gound) for the last several decades and i'm sick and tired and pissed-off to the point where I couldn't care less if they starve to death. My generation who has worked for over two decades now and contributed and paid taxes, etc. will have and get nothing, mostly because of these people. When a system becomes is so dirty, corrupt, backward, and self-serving it absolutely deserves to be destroyed so that it can be rebuilt to it's former glory - BRING IT ON MF'S!

reply to post by smallpeeps


Star for you!!!

I don't disagree with a single point of your sentiment.

I only disagree that defaulting next week is NOT the best way to handle this giant mess. Unless
you are looking to start year zero, or see and deal with the attempt to manufacture a solution,
globalization.

Default, as proposed is not a position of power, now,,, systematically stopping mortgage payments is, provided
WE have a plan and can anticipate the response.

reply to post by Janky Red


The problem is INTEREST. A banker, who has done nothing but give you a fraudulent contract gets more wealth (your labor) than any of the people who actually built the blasted house! On top of that when ever the house is sold he gets even more interest. It is no accident that the first years of a mortgage are almost 100% INTEREST.

If you insist on keeping " Fractional Reserve Banking" then at least make the fraction 80% NOT ZERO.

The biggest problem of course is wage deflation and price inflation. The magic formula for fleecing the sheep. The Corporate hotshots are not about to be fleeced along with the sheeple.

In 1976 A typical American CEO earned 36 times as much as the average worker. By 2008 the average CEO pay increased to 369 times that of the average worker. timelines.ws...

From the beginning of 1964 ($54 billion) to the end of 2010 the bankers have made $1961.967 billion dollars in fiat currency That is the amount they increased the money supply


The minimum wage in 1964 was $1.15. Is the minimum wage now $41.78???? Or is it about one tenth of that? ($6.55) To add insult to injury the "progressive tax rate" takes a much larger chunk out of my vastly diminished wage because I am now "Rich"

If you have any doubts at all about the CRIMINAL INTENT of those who conspired on Jekyll Island to bring about the Federal Reserve Act of 1913. Here are the words of the organizer,Nelson W. Aldrich, the greatest traitor in US history.

Of all the contrivances for cheating the laboring classes of mankind, none is so effectual as that which deludes them with paper money. It is the most perfect expedient ever invented for fertilizing the rich man’s fields by the sweat of the poor man’s brow. Ordinary tyranny, oppression, excessive taxation, these bear lightly on the happiness of the community compared with fraudulent currencies and the robberies committed by depreciated paper. [inflation cv] Our own history has recorded enough, and more than enough, of the demoralizing tendency, the injustice and intolerable oppression on the virtuous and well disposed, of a degraded paper currency, authorized by law, or in any way countenanced by Government. ~Nelson W. Aldrich, United States Senator, at a New York City dinner speech on October 15, 1913 IV Proceedings of the Academy of Political Science #1, at 38 (Columbia University, New York (1914)). [He was quoting Andrew Jackson. cv] www.linuxtoday.com...

The Average credit card debt per household is $14,687 this does not include education loans, car loans and house mortgages. 97% of the US money supply is in the form of banks loans.- Interesting that the US dollar has lost 96% of its value since the Federal Reserve Act.

We do not have to get rid of the dollar ALL we have to do is QUIT PRINTING MORE! And to do that we need to kick out the central bankers and fractional reserve banking.

reply to post by TypeSH2001


Try voting for someone other than the professional politician then. You need only look in the mirror to see who is to blame for this mess. Once in a while we get a good one (Ron Paul) but normally we just keep renewing the same old fodder and wonder why it never gets fixed. It's our fault, and no one else's.

reply to post by Janky Red

..I don't disagree with a single point of your sentiment... [to smallpeeps]

OK so we all agree on something the banksters (and the Bernanke is a hundred times worse that Greenspan) Are the real problem.

....From 2002 until 2005, he served as a member of the Board of Governors of the Federal Reserve System. Here he outlined the Bernanke Doctrine and first spoke of the Great Moderation, where he postulated that we are in a new era, where modern macroeconomic policy has decreased the volatility of the business cycle. He then served as Chairman of President George W. Bush's Council of Economic Advisers before President Bush appointed him to be Chairman of the United States Federal Reserve on February 1, 2006. Bernanke was confirmed for a second term as Chairman on January 28, 2010, after being nominated by President Barack Obama....

AIG bailout

According to a January 26, 2010, column in The Huffington Post, a whistleblower has disclosed documents providing "'troubling details' of Bernanke's role in the AIG bailout". Republican Senator Jim Bunning of Kentucky said on CNBC that he had seen documents which show Bernanke overruled recommendations from his staff in bailing out AIG. The columnist says this raises questions as to whether or not the decision to bail out AIG was necessary. Senators from both parties who support Bernanke say his actions averted worse problems and outweigh whatever responsibility he may have for the financial crisis.... en.wikipedia.org...

AIG and foreclosure:

How the AIG Bailout Could be Driving More Foreclosures

...“Senior investors, who are typically financial institutions, own the AAA tranches that are insured against default by AIG, and they WANT to foreclose on the Middle Class so that insurance payments kick in. Conversely, the junior tranche investors want workouts with homeowners because their investment is not insured.

“To ensure that the mortgage servicer pushes default instead of workout, the servicer is paid double (50 basis points versus 25 basis points) by the MBS to service a loan in default. Why do you think your servicer tells you that you must be in default before it will consider a mortgage modification, a practice known as invited default?

“Simply put,” says Parker, “the government bailout of AIG has actually encouraged foreclosures because the taxpayers continue to fill AIG’s coffers with enough cash to pay out insurance on defaulted home loans.”

The emerging question, of course, is why the government should protect CDS bettors and not mortgage loan borrowers, shareholders or bondholders.

So any solutions?

Personally I would like to take EVERYONE involved in the mortgage bubble scam and drop them in the Atlantic trench.

Clinton, Bush, Bernanke......

People thinks Ron Paul is their savior..
just like people thought Obama was one.

But if your american and you like shooting yourself in the foot i understand why you want to vote Paul and the whole debt thing to burst.

After all, its not like someone is gonna cross the pond to check the book.
The game is rigged in favor of America and everyone knows that.
It can only burst from the inside and people are so dumb they gonna vote for this.

reply to post by eagleeye2


Well, unless you can show a more patriotic and constitutionally sound candidate that has been consistent in their message for the last 30 years, then he is the best thing going.

Originally posted by crimvelvet
reply to post by Janky Red

 

The problem is INTEREST. A banker, who has done nothing but give you a fraudulent contract gets more wealth (your labor) than any of the people who actually built the blasted house! On top of that when ever the house is sold he gets even more interest. It is no accident that the first years of a mortgage are almost 100% INTEREST.

If you insist on keeping " Fractional Reserve Banking" then at least make the fraction 80% NOT ZERO.

Why are you insisting that I am in favor of fractional reserve banking? you are messing with your own head.

Fractional reserve practices have eliminated risk and created a massive criminal empire.

You assume that I am for things because I am opposed to crashing the global economy in a week.
We get hurt, for that, your money, which represents your labor and work (TIME) will be stolen from you
by the same system you hate. To impoverish yourself to acheive a goal is not a good plan. To initiate
contractual triggers which jet interest rates up 350% is no way to regain fiscal sanity either.

How can America work down a debt if you propose creating a massive new wall of interest based, debt obligation?

Originally posted by crimvelvet
reply to post by Janky Red

 

..I don't disagree with a single point of your sentiment... [to smallpeeps]

OK so we all agree on something the banksters (and the Bernanke is a hundred times worse that Greenspan) Are the real problem.

....From 2002 until 2005, he served as a member of the Board of Governors of the Federal Reserve System. Here he outlined the Bernanke Doctrine and first spoke of the Great Moderation, where he postulated that we are in a new era, where modern macroeconomic policy has decreased the volatility of the business cycle. He then served as Chairman of President George W. Bush's Council of Economic Advisers before President Bush appointed him to be Chairman of the United States Federal Reserve on February 1, 2006. Bernanke was confirmed for a second term as Chairman on January 28, 2010, after being nominated by President Barack Obama....

AIG bailout

According to a January 26, 2010, column in The Huffington Post, a whistleblower has disclosed documents providing "'troubling details' of Bernanke's role in the AIG bailout". Republican Senator Jim Bunning of Kentucky said on CNBC that he had seen documents which show Bernanke overruled recommendations from his staff in bailing out AIG. The columnist says this raises questions as to whether or not the decision to bail out AIG was necessary. Senators from both parties who support Bernanke say his actions averted worse problems and outweigh whatever responsibility he may have for the financial crisis.... en.wikipedia.org...

AIG and foreclosure:

How the AIG Bailout Could be Driving More Foreclosures

...“Senior investors, who are typically financial institutions, own the AAA tranches that are insured against default by AIG, and they WANT to foreclose on the Middle Class so that insurance payments kick in. Conversely, the junior tranche investors want workouts with homeowners because their investment is not insured.

“To ensure that the mortgage servicer pushes default instead of workout, the servicer is paid double (50 basis points versus 25 basis points) by the MBS to service a loan in default. Why do you think your servicer tells you that you must be in default before it will consider a mortgage modification, a practice known as invited default?

“Simply put,” says Parker, “the government bailout of AIG has actually encouraged foreclosures because the taxpayers continue to fill AIG’s coffers with enough cash to pay out insurance on defaulted home loans.”

The emerging question, of course, is why the government should protect CDS bettors and not mortgage loan borrowers, shareholders or bondholders.

So any solutions?

Personally I would like to take EVERYONE involved in the mortgage bubble scam and drop them in the Atlantic trench.

Clinton, Bush, Bernanke......

Greeenspan is good?

I mean come on? are you $hitting us?

The man was busy greasing the system for this very outcome decades ago. You think this stuff happens
just like that?

Are you trolling now?

reply to post by Janky Red


We recovered from the great depression (would have been faster without FDR) and we can recover from this. Not a big deal like you fear-mongers make out.

Originally posted by haarvik
reply to post by Janky Red

 

We recovered from the great depression (would have been faster without FDR) and we can recover from this. Not a big deal like you fear-mongers make out.

You are a fool then, haarvik

America will be paying a much higher rate of interest, which will immediately
increase US national debt and compound it.

It is like deciding to stop paying your credit card so you can go from 7.3% interest to 39% compounded , for fun

What are you failing to understand? Please tell me how America will benefit by tacking on Trillions of dollars
of interest over night?
this would make the great depression look like the sniffles

Originally posted by Janky Red
Default, as proposed is not a position of power, now

systematically stopping mortgage payments is, provided WE have a plan and can anticipate the response.

Yes, I see your point, that default plays right into the hands of destruction. Okay, glad to hear you've got some plan.

You know what, I don't think a plan is needed. Any child knows, that a camping tent costs 20 bucks.

So if you try to explain to a child, why a single family home within commuting distance of "a livable wage job", costs 10,000x more than that, they will have a look of confusion on their face. And that is because the spirit of true divinity is in them. Their confused look, will serve us well, if we can follow Jesus' command to get on their level.

A child knows, camping is fun and cheap. A child, if explained how the gigantic territory of America is prevented from being used by families, to camp, will have a confused look on their face. If we try to explain to them, that the current leaders promote themselves and corporate entities that own 80% of the land in the US, and will not allow families to live on that land, even though camping is very cheap, the child will never, ever understand. And that is why they are so valuable to us, because we are supposed to listen to them when they explain Satanic folly to us. All nations have the common sense of their children, and yet it is Satan who tells us they are fools. No, Jesus says they are geniuses.

A child knows that Indians were once seen to be the enemy of the US powers. Most children know that cowboys fought indians. And yet if you explained to them that the Indians would have gladly allowed families to live on the land of the US, they may have that same quizzical look on their face.

They will not understand, how at one time, the land was free to live upon, but then there came a power which seized that land, and said it was not to be lived upon. Children will always laugh at that idea, because it is very silly. You see? The idea that you can freely camp on the land, and that it is free for living on, is simple. The complex idea that some corporations remove those rights and freedoms, and selll that land off to other corporations, and then prevent the people from using the land, and the rivers, is just silly!

Hmm, I rambled there, but anyway you say we are in agreement as to the criminality of the housing market.

Okay, so what I propose is that all efforts to kick people out of their homes, should be married to laws which open up the path for families to simply camp on the land. Let us assume that the worst happens. Well, can we not then loosen such retarded laws and municipal schemes whereby the people are disallowed from living in the vast areas of the US territory? We are strung up by laws, and then held over the abyss by the executive, so why not demand more freedoms, in return? How about "Freedom to camp outside and tell the cops to take a hike"? That'd be a basic freedom which Obama could give us. If he says "Camp wherever you want" and he prevents local cops from stealing RV's and rolling the poor people, than that would be something.

Refusing to pay mortgage, will only result in more families living in their cars. If I were in charge I would advocate aggressive tort reform in regards to all the cobweb-like laws which prevent families from using the national lands. I would roll up all the acres which belong to corporate entities --all corporate land claims would be null and void. I would find ways to allow the people to live at low cost and with little harassment from authorities or "sherrif of nottinghams" who have nothing better to do than to harass families.

This way when the banks fail, we will still be able to live a pastoral life. Haha, now watch all the adults argue about how camping is not a way of life. Yes, let's have flush toilets at 200k mortgaged over 30 years so you pay 600k before the things paid off. Yeah that's way better than a hammock. Stupid asses.

A cul-de-sac, is not a community. It's a million dollar charm on some millionaire's charm bracelet.

reply to post by Janky Red


And by your accounts it is no different than telling the bank you are out of money and need them to give you a new loan so you don't have to file bankruptcy. It only delays the inevitable.

Originally posted by haarvik
reply to post by Janky Red

 

And by your accounts it is no different than telling the bank you are out of money and need them to give you a new loan so you don't have to file bankruptcy. It only delays the inevitable.

There is no bankruptcy, you assume what happens to individuals will happen for the government.
The outcomes are not the same... Why would you IMMEDIATELY tack on a much more expensive
kind of debt to address debt? You really don't understand -

If you get a loan for a car @ $100.00 a month (with a clause that states if you fail to pay the loan on time
you will have to pay $200.00 a month for the life of the loan as opposed to $100.00)

One month you want to save $100.00

So you don't pay your loan

Does it make sense to incure a $200.00 car payment for the life of the loan, to save $100 for one month?

No, because now you own a whole lot more money in the long run, haarvik

It doesn't make sense, haarvik

reply to post by Janky Red


You don't make sense. Let's add more debt instead of cutting costs. It's finance 101. Until the curtain falls, nothing will change. It has to fall in order for everyone to be on a level playing field. And yes, if you default, it is technically bankruptcy. It's people like you who promote debt that is the reason we are in this mess to begin with. It's called a budget and we do not have a balanced one. It has to balance, period. Without it we just keep doing the same things over and over. And yes, we have been here before, research it.

reply to post by Janky Red

Greeenspan is good?

I mean come on? are you $hitting us?

The man was busy greasing the system for this very outcome decades ago. You think this stuff happens
just like that?

Are you trolling now?

That is not what I said. I am an independent and hate ALL politicians equally That does not mean I pin blame indiscriminately without FACTS.

Here is a money supply/gold/wage chart:
Date.....$ /oz gold.. Money supply......minimum wage...min wage in gold..CEO pay in gold
1971 ......40.62.............. 81 billion...........$1.60 ...................0.0394 oz.
1974 ......195.20...........101 billion...........$2.00.....................0.0102 oz.
1985 .....354.20 ...........$205 billion........$3.35....................0.0094 oz. DOUBLED
1994 .....409.80........... $ 406 billion.......$4.25.....................0.0104.oz. DOUBLED
2006 .....636.30 ...........$808 billion........$5.15.....................0.0081 oz. DOUBLED
2008 .....880.30........... $831 billion........$5.85.....................0.0066 oz.............2.44.oz
2009...1,020.28...........$1663 billion........$6.55.....................0.0064.oz. DOUBLED

Greenspan was Chairman of the Federal Reserve of the United States from 1987 to 2006

The money supply doubled about every ten years UNTIL 2009 when it doubled in ONE Fracken year! The Fed controls the money supply and the interest rates. Greenspan is responsible for those two items over those twenty years.

CONGRESS writes the laws and the PRESIDENT can VETO or sign them.

Now follow closely please.
Cecil Rhodes wrote a final will naming Nathan ROTHSCHILD as ex to set up the RHODES SCHOLARSHIPS. Bill Clinton was a RHODES SCHOLAR and the ROTHSCHILD"S are the ones who GAVE him that scholarship.

Clinton and BANKING LAWS

Clinton's signing of laws that repealed the McFadden Act of 1927, the Glass-Steagall Act of 1933 and the Bank Holding Company Act of 1956 lead to the Formation of Mega Banks. He is also responsible for the Housing and Community Development Act of 1992 and the Commodity Futures Modernization Act of 2000 that was responsible for marginal mortgage loans doomed to fail and the unregulated CDSs used to insure the banks against foreclosure.

A list of important banking laws can be found here: www.fdic.gov...

The critical part of the Banksters scam was the Commodity Futures Modernization Act. This allowed CDSs to be placed on mortgages. If a bank has a couple of CDSs on your mortgage then the bank WANTS to force you into foreclosure as the article above showed.

..because the CDSs were unregulated—and this is because of a specific law back in the year 2000 called the Commodity Futures Modernization Act, which was sponsored by Phil Gramm. These instruments were unregulated. They were designated outside the regulation of—they couldn’t be regulated as futures commodities or as gaming, so there were no rules about this. So you could sell as much CDS protection as you wanted, but you didn’t have to actually post any capital when you did it....

...a lot of these contracts, these CDS contracts, are like gambling, in the sense that—normally when you buy an insurance policy, you’re buying a policy on a house that you actually own. With these CDS contracts, you could actually bet on somebody else’s mortgage.... www.democracynow.org...

Here are the other laws that set up the AIG Bailout - Foreclosuregate:
(I rearranged the order and added comments)

The McFadden Act of 1927 or Amendment to the National Banking Laws and the Federal Reserve Act (P.L. 69-639, 44 STAT. 1224): Prohibited interstate banking.

[Clinton's Law: Negating above:]
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (P.L. 103-328, 108 STAT. 2338).
Permits bank holding companies to acquire banks in any state one year Beginning June 1, 1997, allows interstate mergers.

The Glass-Steagall Act or Banking Act of 1933 (P.L. 73-66, 48 STAT. 162): Separated commercial banking from investment banking, establishing them as separate lines of commerce.


Bank Holding Company Act of 1956 (P.L. 84-511, 70 STAT. 133): Prohibited bank holding companies headquartered in one state from acquiring a bank in another state.


[Clinton's Law: Negating both of the above laws:]
Gramm-Leach-Bliley Act of 1999 (P.L. 106-102, 113 STAT 1338)

Repeals last vestiges of the Glass Steagall Act of 1933. Modifies portions of the Bank Holding Company Act to allow affiliations between banks and insurance underwriters. Law creates a new financial holding company authorized to engage in: underwriting and selling insurance and securities, conducting both commercial and merchant banking, investing in and developing real estate and other "complimentary activities."

Allows national banks to underwrite municipal bonds.
Amends the Community Reinvestment Act to require that financial holding companies can not be formed before their insured depository institutions receive and maintain a satisfactory CRA rating.
Makes significant changes in the operation of the Federal Home Loan Bank System, easing membership requirements and loosening restrictions on the use of FHLB funds.


[MORE on The Clinton Years:]
Federal Deposit Insurance Corporation Improvement Act of 1991 (P.L. 102-242, 105 STAT. 2236).
Also known as FDICIA. FDICIA greatly increased the powers and authority of the FDIC. Major provisions recapitalized the Bank Insurance Fund and allowed the FDIC to strengthen the fund by borrowing from the Treasury.

The act mandated a least-cost resolution method and prompt resolution approach to problem and failing banks and ordered the creation of a risk-based deposit insurance assessment scheme. Brokered deposits and the solicitation of deposits were restricted, as were the non-bank activities of insured state banks. FDICIA created new supervisory and regulatory examination standards and put forth new capital requirements for banks. It also expanded prohibitions against insider activities and created new Truth in Savings provisions.
[TRANSLATION: Allowed big banks to gobble up smaller banks more easily.]


Housing and Community Development Act of 1992 (P.L. 102-550, 106 STAT. 3672).
RTC Completion Act (P.L. 103-204, 107 STAT. 2369):
implement provisions designed to improve the agency's record in providing business opportunities to minorities and women.. Expands the existing affordable housing programs of the RTC and the FDIC by broadening the potential affordable housing stock of the two agencies.

Increases the statute of limitations on RTC civil lawsuits. In cases in which the statute of limitations has expired, claims can be revived for fraud and intentional misconduct resulting in unjust enrichment or substantial loss to the thrift.

Important Banking Legislation

So Greenspan DOUBLED the money supply every ten years, Bernanke DOUBLED it in ONE year setting the US up for hyper-inflation if the US Dollar is no longer reserve currency. LINK And the Clinton Admin did major changes to the banking laws and set the US up for the housing bubble followed by the foreclosure crisis. Clinton also ratified the World Trade Organization placing American workers in direct competition with third world "slave" labor. This reduced actual wages and shipped millions of top paying jobs off shore.

Greenspan is no saint (He tripled the money supply in twenty years) but do not go blaming him for the mess Congress and Clinton made.

reply to post by haarvik


A more patriotic candidate?

Easy to answer... YOU.

You wont find Change or Patriotism in Politics.
Its wishful thinking.
Like i said the game is rigged.
Like in WWE wrestling lol

Change and Patriotism can be very close from you but you never tried to reach it.
We all buy stuff everywhere, you can spot the bad campaign contributors and boycott them ..ALL.
Since corporations run the show you should understand by now how un patriotic they are, foreign investor, poluting, no accountability type of stuff.

If you start slow(locally) to inform your loved one its the most patriotic thing you can do. Then, one day, you may be big enough to ask for a choice. a change.
You said 30 years ago.. You probably remember that quote .. from JFK " Dont ask yourselves what your country can do for you but the opposite blah blah sorry for choosing an overused quote but its on topic.

reply to post by eagleeye2


If it's rigged, then why complain? If no one is willing to force change, then discussing anything here is a mute point. If it is rigged, then we will never be out from under the shackles and we might as well turn everything over to the banks right now.

reply to post by haarvik


Its not a fatality.