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If the Federal Reserve is 'buying', where does their 'money' come from ?
Or are they 'borrowing' from somebody else ?
Sounds like a big ponzi scheme con game.
Just wait until the Chinese call their bonds or the Middle East decides to value oil in Euros.
Sit back and watch the fun.
If they actually OWN the nation through debt? Well, it's not a shadow thing anymore and their power isn't figurative or behind the scenes...but real and legitimate, right out in public view, right?
I think ppl who invest in gold/silver are naive. (sorry) They confiscated it once before, and may so again.
I've heard ppl say "I'll just hide it", so what good is it then?
"The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." — Rothschild Brothers of London, 1863
The conflict has heated up in recent days amid mounting indications that the Soviet Union is having trouble gathering funds from the various republics and may in coming months be unable to meet all its debt payments.
Source: New York Times, October - 1991.
Martin Kohlhaussen, chairman of Commerzbank, said that Moscow had so far paid "every pfennig" of its obligations to his bank on time and that such a rich country should not be a candidate for debt rescheduling.
The United States, on the other hand, has been quick to look beyond Moscow's current confusion to the likelihood of payment shortfalls before the end of the year. This would be a new chapter for the Soviet Union, which so far has been one of the world's most creditworthy countries because of its oil and gold resources.
The end result is that it's actually in the banks interest for the home buyer to default. If a default happens such as in this case they gained a property worth $125,000 as well as $60,000 in reserves.
reply to post by Aazadan
Now why does all this matter? World Debt Visualized
If you look at the bottom of that somewhat dated infographic (The numbers are all higher now. Some by a little and ..well.. we know our own numbers and how bad it is), you'll find a summary of major world powers by their debt.
What is happening here for debt isn't a new thing, we just sat on the other side of it the last time an Empire fell. As we all know now, by that article date? Those words came before it all fell apart sometime shortly there after, leaving the Soviet Union as a part of history to review and understand.
The other part is the notion that it's beneficial to banks to have property taken right now to sit. Not really...not in this economy it isn't. You're not taking into account the conditions millions of homes are in and are commonly left in by foreclosure time. There are code issues in many cases that take a lot of that profit...if not having to all but tear them down in others. All over the nation right now.
Taking homes may be some kind of evil way to expand profit in booming times ..but it's the fast track into their own financial ruin right now. If the Fed wasn't buying that bad paper instead of the banks, they'd be ruined already. (As really needed to happen to let the market work and repair in the long term.....)
We've delayed the inevitable and insured it's worse when eventually, it cannot be avoided any longer. IMHO.