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Peter Schiff: Another housing bubble that has yet to pop coming soon

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posted on Sep, 18 2009 @ 05:17 PM
God bless. It just gets worse and worse. No wonder the Government likes AIG, they do the same exact s#!

FDIC is another one that will not be able to cope when the time comes.

posted on Sep, 18 2009 @ 05:40 PM
If it was not for FDIC no one would put money in the bank.

posted on Sep, 18 2009 @ 07:46 PM
reply to post by cloakndagger

Ya but with how insolvent the banks are right now that means FDIC is insolvent.

posted on Sep, 18 2009 @ 08:25 PM
Obviously nothing was learned.

The other scary thing no one is talking about is how many homes either have not gone through foreclosure or houses that have gone through foreclosure and are not on the books yet (not on the MRIS). They are hiding these figures. It is much worse then banks are letting on to.

The big looser here is us. I put 30% down, paid for 4 years and still lost my home. Sadly that paid the principal off. They did not want to work with me. Why should they, they were paid. Plus they can resell the house and profit again. They only lost the interest. If I had put down 0-3% they would have something to loose. Those of us that risked a lot of $ lost a lot $. The banks get bailed out with my taxes to take my home. I’m pissed.

FHA will get a bailout and the 0-3% down people will get new lower interest rates and loan modifications because there are real losses there.

posted on Sep, 19 2009 @ 06:35 PM
reply to post by Anonymous Avatar

I think reading Financial Analyst Don Chapman is where I heard how dire the straits are for the FDIC. I am thinking they have less than 1% of funds necessary to cover what is supposedly insured.

If I heard that right, and I know it's close to correct; We are in for a scary ride. The damage has already been done, and the Elite are stealing all the money; sure it's fiat, but it has sweat equity value.

The sad thing is People continue to duck, and cover from the hard steel wall of truth; the damage has been done, there is nothing left to loose by standing up


posted on Sep, 19 2009 @ 07:53 PM
reply to post by sanchoearlyjones

Indeed. There is a house of cards about to come crashing down. The more I research and read all the signs say it is inevitable.

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