Friday, July 30, 2010
Wednesday, July 28, 2010
Dying of Money: Lessons of the Great German and American Inflations by Jens Parsson
DOWNLOAD THE PDF FILE OF THE ENTIRE BOOK HERE;
http://prudentinvestor.blogspot.com/2010/07/read-sought-after-dying-of-money-on.html
http://prudentinvestor.blogspot.com/2010/07/read-sought-after-dying-of-money-on.html
Sunday, July 25, 2010
KARL DENNINGER: Crack Smoking Part Deux
http://market-ticker.org/archives/2516-Crack-Smoking-Part-Deux.html
AN EXCERPT:
"There is no free lunch folks; we should have taken our recessionary lumps all along through the 1990s and 2000s, but we refused. We instead covered up the insolvency of corporations and individuals with the ever-growing emission of more and more credit. In 2007 we ran smack into the wall, and despite the government's attempt to "replace" private final demand with even more credit issuance as a "bridge" it did not and cannot work, because the absorption limit for credit in the private economy has been reached.
Greenspan, Bernanke and the rest who proclaim that a "free lunch" can be obtained or mathematic principles you should have learned in the 5th grade can be cheated are FRAUDS. They presided over the issuance of a record amount of unbacked credit - that is, a MASSIVE naked short against the monetary system - and now are DESPERATE for some means - any means - to prevent it from unwinding and detonating their "favored" institutions, specifically the banks that emitted that credit.
These actions were and are unsound and in fact should be viewed as acts of treason by all in this nation, and in addition are a blatant violation of The Federal Reserve Act. "We the people" failed to recognize this at the time (and still do) because instead of our officials explaining what was being done (and/or we choosing to think it through) we were "sold a payment" on our new car, house, or i-want-it-now of the particular moment.
The sooner we stop screwing around and take our medicine the sooner we will stop accumulating more and more economic damage that must, mathematically, be absorbed."
AN EXCERPT:
"There is no free lunch folks; we should have taken our recessionary lumps all along through the 1990s and 2000s, but we refused. We instead covered up the insolvency of corporations and individuals with the ever-growing emission of more and more credit. In 2007 we ran smack into the wall, and despite the government's attempt to "replace" private final demand with even more credit issuance as a "bridge" it did not and cannot work, because the absorption limit for credit in the private economy has been reached.
Greenspan, Bernanke and the rest who proclaim that a "free lunch" can be obtained or mathematic principles you should have learned in the 5th grade can be cheated are FRAUDS. They presided over the issuance of a record amount of unbacked credit - that is, a MASSIVE naked short against the monetary system - and now are DESPERATE for some means - any means - to prevent it from unwinding and detonating their "favored" institutions, specifically the banks that emitted that credit.
These actions were and are unsound and in fact should be viewed as acts of treason by all in this nation, and in addition are a blatant violation of The Federal Reserve Act. "We the people" failed to recognize this at the time (and still do) because instead of our officials explaining what was being done (and/or we choosing to think it through) we were "sold a payment" on our new car, house, or i-want-it-now of the particular moment.
The sooner we stop screwing around and take our medicine the sooner we will stop accumulating more and more economic damage that must, mathematically, be absorbed."
KARL DENNINGER: Why The (Obvious) Discomfort Ben?
http://market-ticker.org/archives/2518-Why-The-Obvious-Discomfort-Ben.html
BE SURE TO READ THE VERY LAST LINES IN THIS ARTICLE
BE SURE TO READ THE VERY LAST LINES IN THIS ARTICLE
Saturday, July 24, 2010
Thursday, July 22, 2010
Sunday, July 18, 2010
22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America
LINK TO THE MAIN ARTICLE:
http://www.informationclearinghouse.info/article25953.htm
LINK FROM IN THE ARTICLE:
22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America
http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#83-percent-of-all-us-stocks-are-in-the-hands-of-1-percent-of-the-people-1
http://www.informationclearinghouse.info/article25953.htm
LINK FROM IN THE ARTICLE:
22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America
http://www.businessinsider.com/22-statistics-that-prove-the-middle-class-is-being-systematically-wiped-out-of-existence-in-america-2010-7#83-percent-of-all-us-stocks-are-in-the-hands-of-1-percent-of-the-people-1
Thursday, July 15, 2010
THIS APPEARS TO BE A GOOD BLOG FOR OBTAINING THE TRUTH ABOUT WHAT'S REALLY HAPPENING
CREDIT TO CLYMER FOR THE LINK:
http://www.activistpost.com/2010/07/america-plunging-to-bankruptcy-while-dc.html
THE ACTIVIST POST
"Sadly, the Federal Reserve, the U.S. Treasury, and Cartel of private banks designed the system so that the money must funnel through them first, and thus they will decide how and when to inject it into the economy"
http://www.activistpost.com/2010/07/america-plunging-to-bankruptcy-while-dc.html
THE ACTIVIST POST
"Sadly, the Federal Reserve, the U.S. Treasury, and Cartel of private banks designed the system so that the money must funnel through them first, and thus they will decide how and when to inject it into the economy"
Sunday, July 11, 2010
THE MASTER, HARRY SCHULTZ, GIVES AN INTERVIEW
Harry Schultz on the Power Elite, Free Markets, the Internet and Why Gold Is Going Much Higher
http://www.thedailybell.com/1204/Harry-Schultz-on-the-Power-Elite-Free-Markets-the-Internet-and-Why-Gold-Is-Going-Much-Higher.html
http://www.thedailybell.com/1204/Harry-Schultz-on-the-Power-Elite-Free-Markets-the-Internet-and-Why-Gold-Is-Going-Much-Higher.html
IS THAT A MICROPHONE IN YOUR POCKET? OR ARE YOU JUST HAPPY TO SEE ME?
http://www.express.co.uk/posts/view/184932/Councils-use-bugs-in-lampposts-to-eavesdrop-on-you
UK: COUNCILS USE BUGS IN LAMPPOSTS TO EAVESDROP ON YOU
HERE IN THE U.S.A: 'ANYTHING YOU SAY CAN, AND WILL, BE USED AGAINST YOU'
UK: COUNCILS USE BUGS IN LAMPPOSTS TO EAVESDROP ON YOU
HERE IN THE U.S.A: 'ANYTHING YOU SAY CAN, AND WILL, BE USED AGAINST YOU'
Saturday, July 10, 2010
Friday, July 9, 2010
Thursday, July 8, 2010
Tuesday, July 6, 2010
WHAT EVERY PERSON IN THE U.S.A. WITH A MORTGAGE SHOULD KNOW AND UNDERSTAND
FROM JSMINESET.COM
Jim’s Mailbox
Posted: Jul 06 2010 By: Jim Sinclair Post Edited: July 6, 2010 at 7:43 pm
Filed under: Jim's Mailbox
Dear Jim,
Allow me to chime in here and bolster your comments to CIGA Arlen.
First and foremost, what your readers need to understand is that no one who has a loan secured by a mortgage on his home is safe. Mortgage servicing companies, including Wells Fargo Bank, CitiBank, JPMorgan Chase, and Bank of America, etc. control everything. This is why, as banks, mortgage companies, and hedge funds began to fold, beginning with the Mortgage Meltdown in 2007, the acquisition of mortgage servicing rights was the name of the game.
Regardless of whether Fannie Mae, Freddie Mac or a securitized Trust Fund purportedly “owns” your loan, the Servicer controls your destiny. Back in 1995, I first started seeing Servicers manufacture a default on a current loan and institute a foreclosure action even though the consumer had made every payment on time. Once this process begins, it is virtually impossible for the consumer to straighten out the problem and get back on track. This is because the Servicer’s policies, procedures and technologies are set up to automatically trigger a series of unstoppable events once there is the slightest deviation e.g., an increase in your interest rate on an Adjustable Rate Note, an increase in escrow items, a late payment, or bankruptcy.
Through the mortgage auditing work that I have been doing since 1991, and particularly with all of the expert report writing I have been doing over the past two years analyzing the securitization of these residential mortgage transactions, I can tell you with certainty that even though the noise has quieted down since the bailout, the house of cards is crashing down at lightning speed.
I subscribe to the Bloomberg Terminal to research whether or not my client’s loan is in a particular securitization trust which is tremendously helpful. For example, an attorney I am working closely with here in Massachusetts has a client who was facing a foreclosure sale date of July 15th. The foreclosing entity was Deutsche Bank National Trust Company as Trustee of the IndyMac INDA 2005-AR1 Mortgage Loan Trust-AR1. Using Bloomberg, I was able to establish that the loan in question is not being tracked as an asset of the Trust. I wrote an expert report laying out the fraud; the foreclosure was canceled; and now the foreclosing law firm is begging the attorney I am working for not to sue them.
There is so much fraud throughout the system that it is unimaginable. We are now living in a criminal culture where the Banksters are running the show with impunity. Virtually every subprime securitization I have audited is suffering default rates between 20% to 57% of the entire portfolio. Each of these securitizations is a Ponzi scheme. There was never going to be enough money in the system to return the investors’ principal. Those in the know (spell that SERVICERS) knew these loans were designed to fail and purchased credit default swaps and other derivatives to short the deals.
This is why Jim says to Arlen below:
2. Yesterday, I sent you a list of the bailouts on which a major mortgage service company received one billion dollars.
3. If the servicer was simply a mortgage service company middle man how did it lose so much money as to need a one billion dollar bailout.
The only credible explanation as to why Deutsche Bank (a Trustee for 1900 securitization Trusts) and mortgage Servicing companies such as those Jim refers to would be receiving bailouts is if they were being paid on their credit default swaps.
It is clear for me to see through my use of the Bloomberg Terminal that the mortgage servicing industry is squeezing the last bit of liquidity out of the market. At these double-digit default rates, with a 50% severity loss rate, most of these Trusts will be wiped out by 2014.
In historical terms, I think of this as The Civil War, and it won’t be long before we see the Carpetbaggers and Scalawags (the debt buyers and junk-yard dogs, etc.) coming around to pick up the pieces.
I can also tell you that 90% of the foreclosures are illegal and fraudulent and could be stopped if consumers had the right analyst and attorney working together. The problem here is that the scheme has stripped homeowners of their cash, savings, and assets in the process.
Well, I could go on but I shall leave you with these thoughts to mull over.
My best advice to CIGAs: follow Jim’s advice and hunker down. Gold is the most stable repository of real wealth that civilized society has ever known. The dollars that have been created through the financialization of our economy via derivatives trading is totally unsustainable. Perception drives the market and when the world learns too late that that super-hyper-inflation of our currency will render it worthless, perhaps this madness will stop.
Kindest regards,
CIGA Marie
Marie McDonnell, CFE
Truth In Lending Audit & Recovery Services, LLC
Mortgage Fraud and Forensic Analyst
Certified Fraud Examiner
Marie.McDonnell@truthinlending.net
P.O. Box 2760, Orleans, MA 02653
Tel. (508) 255-8829 Fax (508) 255-9626
Jim’s Mailbox
Posted: Jul 06 2010 By: Jim Sinclair Post Edited: July 6, 2010 at 7:43 pm
Filed under: Jim's Mailbox
Dear Jim,
Allow me to chime in here and bolster your comments to CIGA Arlen.
First and foremost, what your readers need to understand is that no one who has a loan secured by a mortgage on his home is safe. Mortgage servicing companies, including Wells Fargo Bank, CitiBank, JPMorgan Chase, and Bank of America, etc. control everything. This is why, as banks, mortgage companies, and hedge funds began to fold, beginning with the Mortgage Meltdown in 2007, the acquisition of mortgage servicing rights was the name of the game.
Regardless of whether Fannie Mae, Freddie Mac or a securitized Trust Fund purportedly “owns” your loan, the Servicer controls your destiny. Back in 1995, I first started seeing Servicers manufacture a default on a current loan and institute a foreclosure action even though the consumer had made every payment on time. Once this process begins, it is virtually impossible for the consumer to straighten out the problem and get back on track. This is because the Servicer’s policies, procedures and technologies are set up to automatically trigger a series of unstoppable events once there is the slightest deviation e.g., an increase in your interest rate on an Adjustable Rate Note, an increase in escrow items, a late payment, or bankruptcy.
Through the mortgage auditing work that I have been doing since 1991, and particularly with all of the expert report writing I have been doing over the past two years analyzing the securitization of these residential mortgage transactions, I can tell you with certainty that even though the noise has quieted down since the bailout, the house of cards is crashing down at lightning speed.
I subscribe to the Bloomberg Terminal to research whether or not my client’s loan is in a particular securitization trust which is tremendously helpful. For example, an attorney I am working closely with here in Massachusetts has a client who was facing a foreclosure sale date of July 15th. The foreclosing entity was Deutsche Bank National Trust Company as Trustee of the IndyMac INDA 2005-AR1 Mortgage Loan Trust-AR1. Using Bloomberg, I was able to establish that the loan in question is not being tracked as an asset of the Trust. I wrote an expert report laying out the fraud; the foreclosure was canceled; and now the foreclosing law firm is begging the attorney I am working for not to sue them.
There is so much fraud throughout the system that it is unimaginable. We are now living in a criminal culture where the Banksters are running the show with impunity. Virtually every subprime securitization I have audited is suffering default rates between 20% to 57% of the entire portfolio. Each of these securitizations is a Ponzi scheme. There was never going to be enough money in the system to return the investors’ principal. Those in the know (spell that SERVICERS) knew these loans were designed to fail and purchased credit default swaps and other derivatives to short the deals.
This is why Jim says to Arlen below:
2. Yesterday, I sent you a list of the bailouts on which a major mortgage service company received one billion dollars.
3. If the servicer was simply a mortgage service company middle man how did it lose so much money as to need a one billion dollar bailout.
The only credible explanation as to why Deutsche Bank (a Trustee for 1900 securitization Trusts) and mortgage Servicing companies such as those Jim refers to would be receiving bailouts is if they were being paid on their credit default swaps.
It is clear for me to see through my use of the Bloomberg Terminal that the mortgage servicing industry is squeezing the last bit of liquidity out of the market. At these double-digit default rates, with a 50% severity loss rate, most of these Trusts will be wiped out by 2014.
In historical terms, I think of this as The Civil War, and it won’t be long before we see the Carpetbaggers and Scalawags (the debt buyers and junk-yard dogs, etc.) coming around to pick up the pieces.
I can also tell you that 90% of the foreclosures are illegal and fraudulent and could be stopped if consumers had the right analyst and attorney working together. The problem here is that the scheme has stripped homeowners of their cash, savings, and assets in the process.
Well, I could go on but I shall leave you with these thoughts to mull over.
My best advice to CIGAs: follow Jim’s advice and hunker down. Gold is the most stable repository of real wealth that civilized society has ever known. The dollars that have been created through the financialization of our economy via derivatives trading is totally unsustainable. Perception drives the market and when the world learns too late that that super-hyper-inflation of our currency will render it worthless, perhaps this madness will stop.
Kindest regards,
CIGA Marie
Marie McDonnell, CFE
Truth In Lending Audit & Recovery Services, LLC
Mortgage Fraud and Forensic Analyst
Certified Fraud Examiner
Marie.McDonnell@truthinlending.net
P.O. Box 2760, Orleans, MA 02653
Tel. (508) 255-8829 Fax (508) 255-9626
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