Rape of the American Economy
Rape of the American Economy
By Gerald: Internet Anthropologist Think Tank
We are moving away from a free market, and the rule of law.
The government is trying to over ride the Free Market system
and set an artificial system, Capitalism I feel is close to nature.
And good for humans. Caqpitalism doesn't want slaves, they can't
buy goods or pay taxes, well there are a lot of reasons capitalism
has been so sucessfull, and why it works. I won't go into that now.
In this case the Free Market System has been corrupted by Lobbyists
who get to circumvent the law, by bribing congress to write new laws.
Making criminal activity legal, usury is a prime example.
Its a violation of the Free Market system.
So is the sub-prime mess, a violation of the Free Market System.
I have read about how its the Dems. fault and they FORCED the
banks to write sub-prime loans with new laws.
Does anyone really believe anyone could force the worlds biggest
corporations, Banks Corps to write loans the banks were going to get
stuck with in default? The banks were not taken to the woodshed
they encouraged this as they knew they wouldn't get stuck with the
bad loans, the Government would be stuck with them.
Any one who doubts this needs to examine the power of the Banking
lobby, the ones who rewrote usury laws, rewrote the bankruptcy
laws so the could persue the usury victims to the grave.
But the Banks get to skip bankruptcy and get bailed out by the Victims.
The Federal reserve system or congress, I'm not clear on who it is,
now requires equity in the Banks, the Banks don't have a choice.
They have to give up some equity to the Feds.
After this settles down that is going to be thrown out, what rule of
law requires a Bank or any Corp to give up equity.
I like the idea, but I like the idea of public whippings for Bank CEOs and Lobbyist also
and none of it is legal, it won't stand in court.
The results of flooding the banking system with 4 Trillion dollars in cash, ( maybe more )
is a combination of Inflation and devaluation. Hard times coming.
The cause of the current cash flow disaster is the sub-prime loans being commoditized,
as an Real Estate Investment bond, and this getting into the money markets as a liquid asset.
If the RE loans are good, honnest, there is not a problem.
But when bad loans quit paying , default, then the Interest part of the RE Bonds stops.
And they be come an Illiquid investment in money markets. And that chokes the cash
flow, and stops loans.
And now "they" have decided not to mark the money market assets to the market, just value them at 100%.
Where does the legal authority to do this stem from?
Well the US Government has guaranteed them at 100%, with the creation of 4 trillion dollars.
It took the US Government 200 years to get to a GND of 7 trillion dollars and it just grew to
11 trillion dollars in one year.
They need to get all the RE loan bonds out of the market, and price them as defaulted bonds.
Why are they leaving these things out there?
My fear is the Banking Corps have written trillions of dollars of bad loans.
The lobbyists and banking corps and congress have created its own criminal cabal.
Congress was bribed by the Banking lobby to change usury laws, rewrite bankruptcy laws
and set up this sub-prime scam. ( The banks figured any loans they did get stuck with they could go after the borrowers for the rest of their lives under the new bankurptcy laws. )
My auto mech. was writting RE loans as a side line, eventually sold to banks.
And the banks sold them to Freddie and Sallie may, and the US taxpayer is bailing them out.
"They" are giving the Banking Corps all this cash, but that doesn't mean the Banks will actually make loans, Banks are working out how to make more profits from this mess and from the taxpayers cash. The banks may not be making loans in a poor economy. After all THE BANKS know the risks involoved in the sub-prime debacale. They just went through a cash shortage, the natural reaction is to hord more cash. But that may what the Bank Corps. decide to do with your tax payer bailout. Make very few loans. There is no assurance they will make loans, or at what rates.
Congress is turning the Free Market System on its head and we just don't know how its going to fall out.
I am amazed there has been no effort to caculate the amount of actual bad and fraudlent loans
in the sub-prime mess, of course that would disclose the scale of this massive Banking SCAM.
Big question is how the FBI will come down on this?
Under J Edgar, the attorney general didn't push Hoover or the FBI around.
Now the Attorney General runs the FBI.
And as we well know the Attorney General is a political appointee, remember Mitchel?
While the FBI didn't go after Nixon it did provide Deep Throat.
Why are they not pulling all the bad sub-prime stuff out?
Give it an aring and see what the dammage is, could congress be trying
to hide the problem, the public finding out what congress was being bribed to do?
What are they hidding?
Will the biggest Banking scam in the World be prosecuted?
When I was a boy it was the customer is always right,
Now its all about how who can legally screw the customer the hardest the longest.
And the Criminal Banking Corps get a free ride, and collect $200 for going around "GO".
Series 7 & 11