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Monday, October 11, 2010

Following the Foreclosure Issues

Although most of the posts for this blog are written to help you with your preparedness goals or share how one family or other is doing things to give you ideas; it is never-the-less important to stay abreast of issues going on in our nation that could impact you personally, financially, etc. Issues in the news can also impact the urgency of your preparedness activities or could make you change your focus of priorities for purchases, etc.

If you have not been following the events related to the Foreclosure nightmare that is unfolding, or if you have just been going by the blips of information you have received from the main stream media regarding it, then you really do not have a good picture of the urgency of this situation and how significant the impact could be for all of us financially regarding this mess.

I highly recommend the following blog - The Market Ticker - for putting the information out about this for the past 3 YEARS and telling people that this would all blow up one day - and for keeping it real and letting us know what's going on in terms and definitions we can all understand.

So, if you haven't been keeping up, please go do some reading and educate yourself. My thought is while I can't be an expert about everything myself - I can better prepare for myself and my family if I keep up with important events around me by reading about them from the experts that are out there.

Here is a good place to start - and you can search his blog for Foreclosuregate to see all the past entries that will spell it all out for you in understandable detail.

The Market Ticker on Foreclosuregate


" . . . .These events sure look like black-letter crimes to me. Selling someone crap instead of chocolate, when you tell them it's chocolate, is plain old-fashioned fraud. So is selling someone called a "Mortgage-backed security" without the mortgage backed part. In both cases, if and when this happened, you have people who took someone's money - some $6 trillion of it over the "go-go" years - and sold them crap that was certified as Grade "AAA" chocolate. In each and every case where the sellers lied, they committed a serious crime.

Who got screwed? You. Your pension fund. Your annuity company - an insurance company that might not be able to pay 10 years down the road when you're old, gray and frail.

You are the one who got screwed.

And if these clowns have their way, you'll get screwed again. The Senate knows, and is holding hearings on how to steal your 401ks - your private money - to make up the money the banks stole from Union pension funds. That's right folks - they know, and they're trying to figure out how to make it "more fair" - which is code in Washington DC for taking money from those who didn't get robbed by the banks and giving it to those who did, instead of making the robbers pay back what they stole and unjustly bonused out to their much-vaunted "talent."

Through all this we can't seem to find a prosecutor, perhaps because they're all bought and paid for by those same banks, who threaten "the end of the world" if they would be forced to eat their own cooking - or in this case, their own packaging of the dogcrap they foisted off on you.

What's worse is that we're letting all these people cover it up, even though the game had to go right through the executive suite of these big banks - you simply can't make the argument that which comprises "how one makes their money" wasn't known to the guys at the top.

Everyone talking about this in the mainstream media - with a handful of exceptions like myself on Dylan Ratigan's show, is trying to play this down as a mere technicality.

It's not.

It's a coverup that is now coming unraveled.

Why now?

Because the cash flow - or rather, the lack there - on these defaulted instruments is now becoming a serious problem, and as such you have banks furiously attempting to keep from coming to light the entirety of what happened - and they sure as hell don't want you to look closely at their practices over the last five years!

I said three years ago and have maintained since that in the end the cash flow would kill these games, because while all sorts of lies can be put on a balance sheet, you will never get away with falsifying the deposit ticket.

Guess what? That day has arrived.

Wake up America.

You've been robbed - by the bank."

The Market Ticker

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