Lies of the Banks/Politicians/Media - Las Vegas Proves it! Vegas Underground City of Homeless while thousands of houses empty.

The amount of lies that come out of banks, politicians and the media is enormous!

Las Vegas is a perfect example that proves the lies.

Why?

Here is an article from May, saying how Vegas has bounced back and how the property prices have risen and there is lots of building going on.

Portions From article:

Home prices in Las Vegas and Phoenix, two of the hardest-hit cities when the housing market collapsed, are outpacing improvement in overall U.S. prices by a significant margin.
In Las Vegas, prices have soared as the supply of available houses lags behind demand.

Dennis Smith, president of Las Vegas-based Home Builders Research, said in his Las Vegas Housing Market Letter that the median price of April new home closings climbed 19.2% to $238,820. Home sales totaled 2,279 during the first four months of the year, an 86% increase that Smith called “an unbelievable change.”

What is wrong with that News Media article and how is it a lie?

Let's look at the information Zerohedge released the other day with the truth of Vegas housing and how 64000 houses are empty and not on the market from the banks :

Portions:

Utility data showed nearly 64,000 vacant homes in Las Vegas at the end of last September, only 8,000 of which are on the market. Meanwhile, new home sales are up 87% and new building permits are up 52% this year. 

“It has been a nightmare,” says the 37-year-old U.S. Air Force officer. “There are plenty of empty houses, but they’re just not for sale.”

Among the nation’s 30 largest metro areas, Las Vegas had the highest share of loans that were 90 days or more past due but not yet referred to foreclosure as of April, according to the most recent data from Lender Processing Services.

So, the above proves how they are all lying about a "recovery".  They are hiding the truth of it all and lying about it! 

Now..... besides the lies and what we know are illegal foreclosures by MERS banks.  Let's look at where those people are from the 64000 foreclosed on vacant homes.

What is completely disgusting to me.. is the banks illegally foreclosed on these people and they are letting the 64000 + houses sit empty and the people live in tunnels underground in Vegas.

How has society gotten so far down?  How is it the banks are so callous, not to even rent the house for a dollar a day or something as that...and instead allow the houses to deteriorate and the people homeless?

Phen, from GLP forum contacted me and let me know they (GLPVC - Raw Feed)  will be going to Las Vegas and doing shows about the homeless in the tunnels.

The Raw Feed's team of investigative journalists, who host a net radio show, is taken there show on the road and will be going to Nevada onMonday Aug 19 thru Aug 22 2013 to report LIVE on the underground cities and the homeless who live beneath, and in the rain tunnels. 

They will be doing two things.  Shining the light on the people's situation more and trying to raise money for them.

I remember how Las Vegas flooded last year and I wondered about the homeless there.  Imagine how they lost everything last year during the floods.

We the People need to have more compassion for those who have not been able to stand up for themselves and to try and help, however we can.

I love that GLP is going to try and help the people and try and shine the light on those who live underground.   I hope they video it and put a documentary together about it, including going by some of the deserted subdivisions filled with thousands of empty illegally foreclosed on homes that are bank owned.  That will show the lies of the banks and media, along with Harry Reid saying how "great" Vegas's housing market is now.

Here are some pictures of houses in Vegas - The Truth of Vegas!

When we bring truth out together and bring others up, we not just help them but we help ourselves and our world.   When we begin to truthfully face what is happening to others we can add light to the situation and try and make our world better.

JP Morgan Derivative/Props Desk 3+ Billion Losses. WHY did they release this info on a Thursday after market not Friday after market, as normal bad financial news is? Worse news to come?

UPDATE 5/17/12 - here is what I was looking for- the bigger story that was revealed last week that needed to be covered up immediately, in my opinion.  Naked Illegal Short Selling by Goldman Sachs.

Update 5/21/12 -  JPM losses eclipse 30+ Billion including stock value loss. 
_______________________________________________________________________________
All the financial news sites are covering the information about JP Morgan losing 3+ Billion from their gambling on derivatives.  That information was released yesterday (5/10/12) Thursday after the markets closed in the U.S.

Here are just a few links about it:

http://www.zerohedge.com/news/jpm-staring-another-3-billion-loss

From above link:

That is where the media picked up the story and as we detail below leads us to today. Attempts to hedge his over-hedged positions and/or unwind them impacted the market too much and we suspect created the need for today's admission of guilt.

http://www.zerohedge.com/news/worlds-largest-prop-trading-desk-just-went-bust

http://www.bloomberg.com/news/2012-05-11/jpmorgan-s-drew-embraced-risk-before-egregious-loss.html

http://www.huffingtonpost.com/2012/05/10/jpmorgan-chase-london-whale_n_1507662.html

CNBC latest information about it is saying that it could not just be one "rogue" trader, but there has to be more bad news to come.

http://www.cnbc.com/id/47382541
Portion from above article:

The $2 billion trading loss announced by JPMorgan on Thursday as a result of a failed hedging strategy does not bear the earmarks of coming from only a “rogue” trader, and developments that follow are more likely to get worse for the Wall Street bank rather than better, Dennis Gartman, founder of The Gartman Letter, told CNBC on Friday.
"I operate under the old rule that there is never just one cockroach, when ill news comes out there is usually more ill news to follow,” the famed investor and former floor trader said.“This clearly isn’t a rogue. This is not the same thing that happened at SocGen, by any stretch of the imagination,” said Gartman, 

The above article confirms my thoughts and what I was telling a few people on the phone, last night.  Something just is not right about the news of the 3+ Billion losses coming out on a Thursday.  That just does not happen.  All bad financial news comes out after the markets close on Fridays, so the markets do not instantly react but have time to settle down over the weekend.

WHY was this news not held 24 more hours until today (Friday 5/11/12), after the markets closed?  This news began affecting the markets immediately.  The DOW futures were down 77 after the news came out. 

Bloomberg has written about how the news is affecting the future markets.

http://www.bloomberg.com/news/2012-05-10/u-s-stock-index-futures-drop-as-jpmorgan-reveals-losses.html


Is this why JPM has been lowering their shorts in metals?  They had lowered their silver shorts by 1300 at the beginning of the week.

FYI - funny how JPM's stock is up this morning by 10 cents. 

My questions:

Why release this bad news on a Thursday afternoon?


What worse news is to come?

Is this the news for financials to focus on, compared to something else that will be revealed at some point today, even after markets?

In other words watch the "small" stories that are not covered due to this "big" news.

I just have a problem and feel something is just not right about the releasing of this information on a Thursday and not a Friday.   They could have held on to it until Friday.  This is a real red flag to me.

So, stay aware of "other" news as the focus is on this one.  Something much worst must be revealed today and JP Morgan was/is the vehicle for the "other" financial news to be ignored.   Yeah, I know.... I sound very conspiracy minded.   But, something is just very very wrong about it coming out on a Thursday.

One other thing - the morning shows just started and they are not mentioning one word about this in their headlines!  

Update - CBS morning show, expert just said "The taxpayers are on the hook for these losses."
She said that this does not break the Volcker Rule.  I have been reading others believe it does, so lets see what happens.  We all know that JPM can get away with murder and not get in trouble.

Edit to add:  8:27 AM - CNBC just said they are having an interview with Jamie Dimon from JPM.  *They just said it was taped on Weds, for "Meet the Press" and so nothing is mentioned about the "Prop desk losses."

Santelli - on CNBC 8:34 Am - just said "When you supply easy free money to the 'big boys' this is what you get!"  "It is the Fed's fault - giving them free money."  He is saying "Goldman Sach's is doing the same thing!"


*** Working on an article - I have info that Dimon and Blankfein met with Bernanke earlier this week.  Bernanke also made a speech yesterday saying that the Banks were in great shape.  When I finish it I will link it here***  So.... Goldman Sach's worse news today that will be whitewashed over?** 

Update - 1:02 PM - Here is the article about both Dimon and Blankfein meeting with Bernanke this week and Bernanke's speech yesterday, saying the banks are in good shape. 

Calling ALL Class Action Lawyers - GET GOING! Here is your ruling - Mass. Supreme Court Ruling: ALL PREVIOUS FORECLOSURES ILLEGAL AND NOT VALID, No legal title transferred! DO NOT BUY A FORECLOSURE!

Update - 10/21/11 - Mass Sussex County Register of Deeds Calling for HALT of All foreclosures - Mass.AG Coakley Suing banks for Foreclosure Fraud

I have said this a few times here! DO NOT BUY A FORECLOSURE!  They have not been legal, due to the Banks foreclosing on them ILLEGALLY!

I wrote about the Mass. Supreme Court to rule on previous foreclosures back in January of this year.

Here is a portion of that post:

Now  they are going to rule on another case of a buyers right to the property, that was illegally foreclosed on by a MERS bank.

A lower Massachusetts court had already ruled against the buyer of a foreclosure, saying they had no right to the property, due to being foreclosed on fraudulently by a MERS bank.

That court case is now going to the Supreme Court, as the buyer is trying to keep the property he purchased 3 years ago from the bank.

Imagine if the Supreme Court rules against the buyer, as the lower court has done....... I can see a whole new area of law suits, when buyers start losing their money and property of foreclosures they have purchased.  Besides that, I can't imagine there will be much of a market for foreclosures, as they may become impossible to sell, as no title insurance company will touch them.

Bloomberg is the one even carrying the story, which is amazing they would let people know they may have a huge problem if they have purchased a foreclosure in the past.

This ruling from Massachusetts will be important all around the country.  There are already class actions that have started in a few states for previous foreclosures.  If the Massachusetts Supreme Court rules the buyer of the home has no right to the property fraudulently foreclosed on, we can expect a whole rush of class actions throughout the country against the banks.

I also posted warning all buyers of property - DO NOT BUY A FORECLOSURE AS I BELIEVED CLASS ACTIONS WOULD START THIS YEAR FOR ALL HOMEOWNERS FORECLOSED ON! 

Portion from post:

I believe we will be seeing Class Action Suits in All the States against MERS and ALL MERS Servicers and Banks this year!  Once that happens, you can be assured ALL Title Insurance companies will not even touch insuring the title of ANY foreclosure!

What does that mean to investors who buy foreclosures?  Means you may possibly be out money and a house after it is all said and done (then you can start your own lawsuits)!  But besides that banks will have trouble even selling foreclosures in the future, if Class Actions start!  Who in their right mind would buy a foreclosure, if there are lawsuits and the all MERS foreclosures were done through FRAUD?!

So............ Just something for all the investors to think about!  I would not touch a foreclosure with a 10 foot pole, even if it was 1/4 the price of the market value!

Yesterday they ruled and have upheld THE BUYER of a piece of property from 3 years ago, has NO RIGHTS TO THE PROPERTY!

Zerohedge has a great article on it and explains it all. 

Portion:

On Oct. 18th, 2011 the Massachusetts Supreme Judicial Court handed down their decision in the FRANCIS J. BEVILACQUA, THIRD vs. PABLO RODRIGUEZ – and in a moment, essentially made foreclosure sales in the commonwealth over the last five years wholly void.

In essence, the ruling upheld that those who had purchased foreclosure properties that had been illegally foreclosed upon (which is virtually all foreclosure sales in the last five years), did not in fact have title to those properties.

Given the fact that more than two-thirds of all real estate transactions in the last five years have also been foreclosed properties, this creates a small problem.

The Massachusetts SJC is one of the most respected high courts in the country, other supreme courts look to these decisions for guidance, and would find it difficult to rule any other way in their own states. It is a precedent. It's an important precedent.

Here are the key components of the Bevilacqua case:

1. In holding that Bevilacqua could not make "something from nothing" (bring an action or even have standing to bring an action, when he had a title worth nothing) the lower land court applied and upheld long-standing principles of conveyance.

2. A foreclosure conducted by a non-mortgagee (which includes basically all of them over the last five years, including the landmark Ibanez case) is wholly void and passes no title to a subsequent transferee (purchasers of foreclosures will be especially pleased to learn of this)

3. Where (as in Bevilacqua) a non-mortgagee records a post-foreclosure assignment, any subsequent transferee has record notice that the foreclosure is simply void.

4. A wholly void foreclosure deed passes no title even to a supposed "bona fide purchaser"

5. The Grantee of an invalid (wholly void) foreclosure deed does not have record title, nor does any person claiming under a wholly void deed, and the decision of the lower land court properly dismissed Bevilacqua's petition.

6. The land court correctly reasoned that the remedy available to Bevilacqua was not against the wrongly foreclosed homeowner but rather against the wrongly foreclosing bank and/or perhaps the servicer (depending on who actually conducted the foreclosure)

When thinking about the implications of Bevilacqua – the importance of point six cannot be overstated.

 IF YOU ARE BEING FORECLOSED ON - FIGHT IT!  CONTACT YOUR LEGAL AID OR AN ATTORNEY!  IF YOU HAVE BEEN FORECLOSED ON AT ANY TIME IN THE LAST FEW YEARS - CONTACT AN ATTORNEY START A SUIT - JOIN A CLASS ACTION SUIT!
THIS RULING MAKES IT POSSIBLE NOW!


CLASS ACTION ATTORNEYS...... START YOUR PAPERWORK - START GOING!  YOU NEED HELP GETTING PEOPLE?  CONTACT ME - I WILL HELP IN ALL WAYS POSSIBLE!

Video I did about it at this link on youtube.

Added 10/25/11 - Excellent article from Seeking Alpha about this ruling - I highly suggest everyone reading it!

AIG sues Bank of America and Merril Lynch over all the FRAUD Mortgages they sold investors and AIG insured!

WOWSA WOWSA WOWSA - They are now going after each other.  Wall Street fraudsters are suing other Wall Street fraudsters over the FRAUD of mortgages!  Dog eat dog scenario. 

AIG is an insurer who insures mortgages for big Wall street firms.  They are the same ones the government had to bail out in 2008/2009, due to all their losses in mortgages.

Well it seems everyone is coming right out and suing over the FRAUD of mortgages.

Zerohedge has an article about Bank of America going down in stock price and they have the information about AIG filing suit against BOA and Merril Lynch last night.

Update - Bloomberg also has an article about Bank of America and their 20% drop in stock today, they mention the AIG suit against BOA.

This is awesome and I can just imagine this will help open the door to every investor in the world who put money in MERS mortgages, since they are all fraud.

AIG probably filed this fast, due to the settlement BOA has been pushing with the government, which would sanctify their fraud and block any lawsuits or litigation against their mortgage fraud.

Please remember every single Wall Street bank is in the same boat as BOA, it is just they get all the attention and suits, since they have the most mortgages outstanding in the United States.

Every single Wall Street bank should have a suit filed against them, including Warren Buffet's Wells Fargo Bank.  They are all part of the fraud and commit fraud every time they foreclose on anyone or even write a mortgage.


Go to the Zerohedge link to see the papers filed by AIG against BOA and Merril Lynch. 

A comment about all the outrage over S&P's downgrade of the U.S.  The U.S. credit rating has been fraud for years and should have already been downgraded due to the debt and all the printing by Bernanke.  Which more printing is expected to be announced tomorrow by Bernanke in the start of QE3.  That will provide all the fake prop up of the stock markets and help JP Morgan continue all their manipulations of metals.

One other thing, where is the outrage to the credit ratings for all their fraud they committed for Wall Street in rating AAA mortgage bonds, when they knew they were junk?  Why should anyone even listen to a credit rating?  Why can't people look and read and study what is going on and see for themselves? All ratings are based on fraud and it is all just a game and cover up.

Bank of America to get carte blanc approval of foreclosure fraud and future lawsuits halted by Government?

It seems Bank of America is pushing the government for a resolution and a stop to all the lawsuits against them for foreclosure fraud.  Is the government working on a way to sanctify all the fraud of the banks and make foreclosure lawsuits impossible?

Something is happening behind the scene and in the back rooms of the government in trying to work out a deal for the banks to be protected against the people for all the illegal fraud of foreclosures.

Zerohedge has this article up today. 

Bank of America Proposes To Cut Outstanding Mortgages In Exchange For Broad Legal Settlement Deal

From how it reads, there looks to be a deal being worked out where Bank of America will lower the principle on all the mortgages it services and it has directly.

The spin from the government and MSM will no doubt be "This is great for the people" in any deal worked out.  But don't be fooled.  It will be "Great for the banks" it will be protecting the banks from the people who have been exposing the fraud and standing up to the fraud in courts.

It is amazing how the government is working to protect the banks in anyway they can, even when the banks have stolen property, committed crimes and have out right defrauded people.  If you or I ever defrauded anyone else we would be thrown in jail without the government working to make our fraud legal.  

Portion of the article:

The bank is "discussing the proposal with state and federal officials who are prodding the country's biggest banks toward a multibillion-dollar deal to atone for foreclosure errors…As the discussions dragged on past the mid-June target set by U.S. officials, Bank of America began pressing officials for a speedy resolution, and it put forward its principal reduction proposal in one-on-one talks with state and federal officials. Meanwhile, negotiations continue with the banks as a group…Bank of America has told officials it wants protection against future litigation relating to mortgage servicing, said people familiar with the situation. In exchange it is willing to agree to a program in which troubled borrowers would have to prove financial distress to qualify for a writedown of the principal owed on their mortgage…The principal amount would have to be $1 million or less in certain geographic areas, one of these people said, and a reduction would apply to the bank's own mortgages and those its services for private investors

 All you have to do, is read between the lines in this article.  Bank of America is pushing for a resolution, due to many many more people waking up to the fact of their fraud and educating themselves. They want a stop to it immediately.  The courts have been siding with the people in many cases and some states even stopped any Bank of America foreclosures at various times.  Bank of America wants to be protected from "the people" who have become educated to their fraud and know all foreclosures by them are completely Fraud and Illegal.

No matter how much I have tried, I do understand "We the People" are not at all listened to, "We the People's Voice" is not heard and has been silenced by the elected officials.  They have their masters who they hear and do the bidding of.   So, We the People have to keep trying in intellectual ways of stopping the fraud and holding banks accountable.

I hope more and more people begin court proceedings against the Fraud of the banks around the country before it becomes sanctified by the government. 

How will the government sanctify the fraud?  That is the question.  How are they going to rewrite the fact the banks committed fraud upon their investors and the people with the fraud mortgages?  

 

DHS Video - Prison Planet has up. But there is more to it, than Prison Planet mentions!

Prison Planet - Alex Jones's site has up a DHS video and article about it.

Here is the video:



Alex Jones has the fact that DHS is trying to say anyone who takes cell phone pictures, videos, has backpacks, wears hoodies, writes on paper, etc is a potential terrorist.

But there is more to the video than what is mentioned in the article that I noticed!

Watch the video and you will see that everyone of the "potential terrorist" is a white person that looks like a regular U.S. citizen and those reporting them or either black/African American, Indian, Muslim, or some form a another ethnic group. Not one time do they show an ethnic person as a "potential terrorist" only a White person!!

What a Nazi, psychops propaganda video! Also they mention Fusion centers as something wonderful! Yet we know Fusion centers are Black ops illegal spying centers.

So, they are trying to have American Citizens start looking at each other suspiciously and not once is a Muslim looked at strangely! In fact they mention "Do not look at someone due to their ethnic group" and then only show the whites committing crimes!

This is wanting everyone to start spying on each other!

I have no doubt my information is in a Fusion Center, because anyone who voices any opinion that is negative against what is going on is then looked at suspiciously.

If we utilize our "Free Speech" than we are considered "possible terrorist".

Also understand how the military has a propaganda campaign against Social Media and Bloggers using many Black Ops.

A great article from Zerohedge today about the military propaganda machine against those on the internet who try to get out truth!

Tungsten UP 70% in value - David Morgan Video about Fake Gold and Silver Bars - How to tell

UPDATE 2/23/11 - FAKE Silver Coins/Bars/Ingots ARE on the Market!

Zerohedge has a chart up and a small blurb about Tungsten being up 70% last year.

If you aren't familiar with why Tungsten may be up.... well, it is the number one metal used to make fake gold bars. There have been many reports of fake gold.  There is a video out of Germany which verifies there are tungsten filled Gold bars on the market.  Watch the video and you will see when they cut the bar - it is tungsten as the core with a layer of real gold on the outside.

It is rumored the majority of the gold that Hong Kong got out of London was Tungsten filled, 2 years ago. Insiders of the metal business say "Yes, it is true".  This fact has been hidden due to many reasons and one is to keep the price down. 

Here is the video showing a Tungsten filled bar out of Germany




Here is David Morgan  of Silver-Investor discussing how Silver and Gold bars are faked and how you may be able to tell if they are.



With this information, who knows how much real gold is out there and who knows if all the bars in the Comex and London are real or fake. Also I won't hold my breath in thinking Fort Knox actually has real gold bars in it, if there are even gold bars there at all.  In my non-expert opinion only small 1 ounce gold or silver pieces is what I would try to get.

Let those banks and big commercial organizations get those large bars of metals.  I would not trust those at all.   Especially when you see the Tungsten chart - you know the Metal Exchanges and Central Banks are working over time on getting out as much metal (not saying what kind of metal) out to meet the Gold and Silver demand!

Also, Link to Red Alert issued by Roger Wiegand to his peers in the gold and silver fields through an email, about what his high inside sources are saying about Gold Confiscation.

UPDATE 2/17/11 - My Interview with David Morgan on 2/17/11 about the RED ALERT email and the possible issues of Fake Gold and Silver being on the market.

Awesome Post at Zerohedge! This Guy is asking People to Wake Up and Stand Up also! He says Ditch the Prozac!

Please read this - He is asking people to get involved and Wake Up and Stand Up!

Ditch the Prozac it's Time for a New Renaissance

Before I get into it, I want people to understand that the use of Prozac in the title should not be taken literally.  There are many people out there that really do have serious mental issues and medication is useful in helping their condition.  As I hope is clear, “Prozac” is a metaphor for all of the brainless endeavors that have become such an integral part of many Americans’ lives.  Such activities destroy the soul of humankind and play directly into the hands of the ruling elite that wish for you to be dumb, ignorant animals easily manipulated, corralled and sheared.  There is a reason that plantation owners used to forbid slaves to learn how to read and write.  They understood that an ignorant person is much less likely to resist their enslavement.  The same is true in America today, where an unthinking and DEPENDENT person is unlikely to resist.

When we watch videos like the most recent one showing hundreds of people trampling and drooling over each other like mindless drones to get $25 off an IPAD at Wal-Mart the reaction of thinking people the world over is sheer terror.  It makes you want to move to another planet where you never have to interact with such frightening stupidity that can easily be manipulated into something far worse once their “goodies” are inevitably taken away from them.  While I share this concern I want to make it very clear that there is hope for us once we get through the complete and total systemic collapse that I believe will occur within the next 1-2 years.  The main reason for the hope is the internet and all related technologies.  The other, ironically enough, is the financial crisis itself. 

First the financial crisis.  Strangely enough, it was the best thing that could have ever happened to the United States.  It may have come just in time and just at the right moment.  While a very large percentage of the population remains a gigantic unthinking blob, this is appears always to be the case throughout history.  On the other hand, we that are conscious and are trying to changes things represent a small fraction; however, it is always the dedicated few on the margin that create profound and lasting change.  Sometimes this change is liberating.  Think the founding fathers.  Sometimes this change is nightmarish.  Think the rise of Nazi Germany.  Sometimes it is just a campaign slogan and results in business as usual. Think Barack Obama. 

There is absolutely zero doubt in my mind of one thing.  That we are in what Neil Howe and William Strauss dub “The Fourth Turning,” which represent periods where the prior status quo is completely ended and something new emerges from the ashes.  This means that despite the best efforts of the Washington D.C./Wall Street TBTF oligarchy the monetary system is on its last legs and something new will replace it.  Unfortunately for us, the leadership in these areas are so filled with greed and arrogance they cannot see what is right in front of their eyes.  Or those that do see it care so little about the future of the country relative to their personal social status that they dare not speak up.  The universe will have its way with these folks.

In light of this, I have two primary concerns at the moment.  First, I see what the Chinese and Russians are doing.  They are buying physical gold by the boatload so that the real money is over there when the collapse happens and then they can try to institute a credible currency in the aftermath and take on the role of global economic leaders.  In the case of the Chinese they are also encouraging citizens to buy gold and silver.  When the collapse happens and gold and silver are seen as money again the Chinese government wants to come out smelling like roses.  Meanwhile, here in America our disingenuous financial leaders like Warren Buffet ridicule gold.  Everyone needs to remember what this man and his senile sidekick Charlie Munger said about gold once the collapse occurs.  As such, one of my missions to funnel as much gold and silver as possible into the hands of the United States citizenry right now while we can.  That way China will not be able to dictate monetary rules to us down the road. 

My second concern relates to the first.  I know there will be tremendous change in the years to come.  It will be the type of total geopolitical change witnessed only once in a generation.  I want this change to be the good sort of change.  While there is no doubt there will be a period of chaos and very challenging times, we can react to that in a variety of ways.  We can look for a leader like George Washington or we can look for a leader like Adolf Hitler.  Hard times bring out the best and the worst in people.  Of course, I want the former and I have become increasingly encouraged that this is a possibility. 

What the financial crisis did for myself and many others like me was to shake me out of the slob-like daze I was in prior to it.  Prior to the crisis, I was your typical brainwashed sell-side Wall Streeter.  I had always read books voraciously in my free time before I joined Wall Street.  All of that stopped.  I used to play guitar.  That stopped as well.  What the financial crisis forced me to do was to look beneath the façade of the financial system to how it really works.  When I did this I realized it was a gigantic ponzi scheme centered around a paper U.S. dollar defended by our hundreds of military bases abroad and periodic wars in the Middle East to ensure oil is priced in dollars.  I saw that this system was not only immoral to the rest of the world, but it was immoral domestically since it funnels all the country’s wealth to its least productive members.  Washington D.C. bureaucrats, the military-industrial complex and TBTF Wall Street firms.  This made me question everything about my life and forced me to make serious changes.  I started reading profusely again.  I started meditating every morning.  I quit my job.  Most recently, I moved from Manhattan to Colorado.  People all over the country are doing similar things and are forming the nucleus of what will hopefully later be seen as the New Renaissance.              

When I wrote earlier that the crisis happened at the right time I meant at a time when the internet was mature enough o help us find our way out of this.  The absence of a filter on the web is perhaps the most liberating and connecting event that has ever happened to humanity.  Think about what you would have to do if you wanted to research a topic fifteen years ago.  Think about how quickly I can share a lecture by Murray Rothbard (RIP) via youtube with thousands of people that have never heard of him. 

I take great exception when people say the smart thing to do is to flee the country.  If everyone with a brain and some fight left in them did this we would surely end up with a dictator.  We have the tools to fight and to win.  The nation is heavily armed, fiercely independent, has a constitution and a history of freedom.  We also have the internet.  It is the parasites in D.C. and the financial terrorists that should think about moving out.

All the best,
Mike

Informative Information and Post on Zerohedge - Foreclosure Fraud - Including Thousands of Pennsylvania Foreclosures could be VOID!

This Article on Zerohedge has lots of information about the Foreclosure Fraud - from Thousands of Pennsylvania Foreclosures could be VOID - to a video of Fraudulent Attorney signatures and knowledge of Banks regarding the fraud.

At the link they have the documentation and filings regarding everything through scribd.

Portions:

Two Pennsylvania cases, one state and one federal, have exposed new types of document problems in foreclosure cases. One of the cases has potentially transformative consequences for thousands of troubled Pennsylvania homeowners. At the center of each is the same law firm: Goldbeck McCafferty & McKeever (GMM).

A lawsuit filed by Patrick Loughren against GMM details how the firm allowed — and perhaps still allows — nonlawyers in its firm to file and prosecute thousands of foreclosures.

The Florida Rules of Civil Procedures require that all pleadings filed in a case be signed by a licensed Florida attorney. I have started to examine files and am becoming increasingly suspicious that this important rule is not being followed by the foreclosure mills.

I am therefore starting to examine all my pleadings closely and I encourage each of you to do the same. Ultimately I would like to build a database of these signatures to compare, so for those of you out there that are spending time looking at court filings, please start examining the signatures and making a cut and past document similar to the one I attach below.

My first example of gross irregularities in the signature of an attorney who makes filings in a court case comes from Ohio. The document was prepared by a reader of this blog and it comes from an Ohio foreclosure mill attorney. Please look at the sheet. There really is no commentary necessary regarding whether these were signed by the same person….

Given what we know about the foreclosure mills and their operations (particularly the offshore components of their practice) I cannot imagine that they are following this rule. (I mean the violate every other rule)

We Will Be Hyperinflating As there is NO Doubt Now! TRILLIONS of New Dollars Being Printed! Also a Zerohedge Time's Cover in Honor of Bernanke and Our Dollar!

Considering Bernanke is printing up Trillions and Trillions of NEW dollars and all the other countries are very upset over it.  In fact countries around the world have been raising their voices in the last few days about the dollar being printed as it has been and will be.  The Fed is starting their QE2 and have even begun talking about a QE3!!  They have stated they will pump 600 Billion by buying U.S. t-bills, but Goldman Sachs and other Wall Street banks have said the Fed will buy if need be 6 TRILLION in t-bills/bonds if need be.

Well of course it will need to be!  NO other country wants to Touch our Debt anymore!  They know the end game is hyperinflation out of debt for the U.S.!  If people don't believe it, well they will be in for a shock in the not too distant future!  Hyperinflation IS the End Game of the Fed and the U.S. government to pay off the debt of the U.S.!

We will have $100 a gallon of gas or more, a loaf of bread can be a few hundred dollars!  Don't believe it.... well, then you have NOT been paying attention!  I have been reading throughout the world how the leaders of the other countries are VERY Upset and China is really starting to make noise!  China does not make noise publicly, until they have seriously had it and have already begun making other arrangements.

I have posted previously about China, Russia and other Asian countries making trading agreements with the Yuan, China had begun making the Yuan an International currency last year.  South American countries had begun trading in their local currencies between each other last year also.  They have all seen the writing on the wall.

Funny enough, the ONLY people who have NOT seen the writing on the wall is the American People!  I have honestly been amazed at how people in the U.S. are staying Asleep to what is actually occurring!  No matter how I have tried to WAKE up my own family, they would much rather stay Asleep and Stupid about what is really happening!  People in the U.S. are more Worried about who is going to Win "Dancing with the Stars" then what is happening to the Dollar in Debasement!  I have honestly, never understood why most people refuse to educate themselves and look at what the Truth of the U.S. situation is!  It has frustrated me previously, but now......  I am tired of trying to get people to listen, for whatever reason, they prefer to stay Asleep and uneducated!

I know I am "Preaching to the Choir" by posting this, as I have completely Given Up on Trying to Get my family and those who would prefer to Stay Asleep and Only Listen to MSM (propaganda Press/Media) on how Awesome everything is "No Worries, Bernanke is doing Awesome", type information!

Zerohedge did a Wonderful Cover for Time Magazine, in honor of them choosing Bernanke as "Person of the Year 2009"!   Considering all the other countries saw what was happening last year and many began "sounding the siren" including myself in what was going to be happening in the U.S., there was this "Propaganda Press" just for the U.S. people saying "What a Wonderful Job, Bernanke has been Doing"!  I LAUGHED so Hard and shook my head last year, with him being chosen as the Person of the Year of 2009.

But of course if you only listen to CNBC and all those Wall Street analyst then, you feel we are simply at a little bump in the road, but nothing to worry about!  OH, the stock market going UP?  YEAH, Because we are going to be Hyperinflating!  Look at Zimbabwe's stock market - Yes, it DOES go UP, because the Value of the money goes DOWN!  So things Cost MORE, including stock!  I would expect we will see a 30000 market - when gas cost 100 per gallon, which won't be in the too distant future!  But of course at that time Gold will be $20000 or more per ounce, Silver will be in the hundreds or more per ounce, thus the value of the dollar will have been saved through metals, not the stock market!

So, I have now stopped trying to "sound the siren" to those who refuse to Wake Up - that includes my own family!  Everyone has made their own beds and decisions, now it is coming time for those decisions to come to roost!  Being awake and aware has been the key and wanting to know truth has been the answer for those who will not be shocked at the turn of events that will be upon us!

The time is NOW, We are now are the edge of the cliff, we have seen the edge of the cliff, coming for two years now and sadly we are now tittering on our toes on it.  It is going to be sad, when most of the populace will be hit hard and shocked over how things are going to hyperinflate over night!

Now for Zerohedge's Cover of the Time Magazine for 2010 - In Honor of Bernanke - Time's Person of the Year for 2009!  I LOVE IT!

Zerohedge also has another article today, about how we are going to be Hyperinflating, titled "Fed has Gone ALL IN"

Portions:

Well, it’s official, Ben Bernanke has officially gone “all in” regarding currency devaluation in the name of pumping the stock market. I have to admit, even though I knew this was going to happen, I’m still in shock. After all, it’s not every day that you see a superpower collapse and lose its reserve currency status courtesy of a deranged mad man.

The cost of just about everything is going to be going up… a LOT.  In fact it already has. Most commodity prices are up double digits in the last year. This is just the beginning. Combine currency devaluation with trade wars and you’ve got a recipe for MASSIVE spikes in the price of goods.

In plain terms, the cost of living in the US will be going up sharply in the coming months. Oil is already at $86 a barrel. Food costs are rising. In fact, virtually everything but housing prices has risen in the last year. Forget future inflation, inflation is coming NOW. We’ve already seen the Dollar lost 15% of its value in the last six months.

What will this do to a middle class whose savings have already been eviscerated by two stock Crashes, no private job growth, and a 37% decline in the US Dollar in the last ten years?

Yet Another  article - a MSM article out of the U.K. - yesterday regarding all the countries who are Very Upset, regarding the debasement of the Dollar!


Portions:

Li Deshui from Beijing's Economic Commission said a string of Asian states share China's "deep bitterness" over dollar debasement, and are examining ways of teaming up to insulate themselves from the tsunami of US liquidity. Thailand said its central bank is already in talks with neighbours to devise a joint protection policy. 

Brazil's central bank chief Henrique Mereilles said the US move had created "excessive dollar liquidity which we are absorbing," forcing his country to restrict inflows. Mexico's finance minister warned of "more bubbles." 

These countries cannot easily shield themselves from the inflationary effect of QE2 by raising interest rates since this leads to further "carry trade" inflows in search of yield. They are being forced to eye capital controls, with ominous implications for the interwoven global system. 

In London and Frankfurt the verdict was just as harsh. "In our view, this is one of the greatest policy mistakes in the Fed's history," said Toby Nangle from Baring Asset Management.

This shows INFLATION of ALL things, MOST NEEDED are Upon Us!  Have you looked at commodities in the last couple of weeks?  Have you seen how Sugar, Cotton, Copper and other Needed Commodities are going through the Roof and hitting their Highest Prices in History?  Are you paying attention?  It might be a good idea, to go and get needed items for the future - buy a little extra sugar, toilet paper, coffee and commodities as that, while you can still afford them!

How Wall Street Has Gotten Away with The FRAUD of Selling One Mortgage Multiple Times

Zerohedge has a Great Article on how Wall Street Has gotten away with Selling One Mortgage multiple times.

Article:

I've repeatedly documented that mortgages were pledged multiple times to different buyers. See this, this and this.

In response, some people (including one of the country's top bankruptcy lawyers) have told me they don't buy it.

Specifically, they ask such questions as:

• With a mortgage sold to two different entities, wouldn't the income from the mortgage be shown on the books of both entities?

• Was the interest/principal payments that were made by the homeowner before they stopped being divided between both entities? If so, wouldn't this have rung alarm bells immediately?

• If only one was getting it, why didn't the other entity immediately try to foreclose?

• If there was one servicer involved, was the servicer covering the difference between what was collected and the payments actually made? If so, how did the servicer do this and still remain in business?

• If two servicers were involved, why didn't this come out sooner or were both servicers hiding this fraud?

So I wrote to some of the leading experts on mortgage fraud - L. Randall Wray (economics professor), Christopher Whalen (banking expert with Institutional Risk Analytics), and William K. Black (professor of economics and law, and the senior regulator during the S & L crisis) - to seek their insight.

Chris Whalen told me:

All good points, but the short answer is that nobody may have noticed until now. The issue of substitution and other games played by servicers makes exact tracking of loans problematic. It should show up in the servicers reports and should be caught, but there are a lot of things that go on in loan servicing that nobody talks about. Until about 2006, the GSEs and banks would advance cash and would substitute, but not now. The noble practitioners you heard from are all sincere and want to believe in intelligent design.

Whalen explained:

Prior to FAS [i.e. Financial Accounting Standards] 166/167, a defaulted loan might sit in a FNM/FRE pool for up to a year before the default was removed from the trust. The issuer would then place a new loan into the pool or “substitute” for the old loan. No purchase event was booked. The investor would never know. In fact, the issuer would keep paying interest on the original principal amount in those days. Now under FAS 166/167, the issuer must immediately repurchase the defaulted loan and take the loss less estimated recovery. That is why the pace picked up this year when it comes to repurchase demands.

You should refer your dubious and very naive friends to the case of National Bank of Keystone, WV. One of the worst failures per $ of assets in FDIC history. The management hid a Ponzi scheme in the loan servicing area for five years. Paid interest to investors with their own principal. Two auditors missed the fraud and later were sued by the FDIC acting as receiver for the dead bank. And this was a small operation. The big five are an even worse mess. Remember, when the seller of a loan and the servicer are the same, anything can happen. And it usually does.

Professor Black told me:

Double pledges (as they're typically called, though one could pledge multiple times) are a well known fraud device. It is correct that one of the key purposes of adopting Article 9 of the Uniform Commercial Code (UCC) was to reduce the risk and frequency of this form of fraud. So, double pledges in the modern era require both (A) fraud (on the part of the borrower or purchaser) and incompetence, indifference, or corruption on the part of the original secured lender or their agents if the borrower is the fraudster or the purchasers if they are the fraudsters.

The two potential sources of fraud: A fraudulent borrower could pledge the same home as security for multiple mortgage loans. Title checks, by the lender/title insurer are so easy to conduct and so vital to protect the lender that this form of fraud is vanishingly rare. Alternatively, and far more likely, the lender could sell the mortgage to multiple buyers. Those buyers could have far lower incentives to check on prior pledges and less ability to check for prior pledges. The entity selling a loan to multiple parties (A) has a compelling incentive to hide the prior pledge(s), (B) is financially sophisticated, and
therefore more capable of deception than a homeowner, and (C) can pick who to make the multiple sales to -- allowing them to select the most vulnerable targets for fraud.

Subpart (C) provides the logical transition to the second requisite for multiple pledge frauds -- vulnerable victims. The characteristics they would exhibit include (A) growing massively, (B) purchasing nonprime loans without fully underwriting the quality of the loans (and quality in this context inherently requires superb "paperwork"), (C) poor internal and external controls, and (D) opaque systems that make it extremely difficult to determine the beneficial owner and locate key mortgage documents that would reveal multiple sales. Unfortunately, these four characteristics were characteristic of many purchasers of nonprime mortgages. That is why I have long stated that the process was dominated by the financial sector equivalent of "don't ask; don't tell."

Bottom line: the elite bankers and the anti-regulators have been so unwilling to
find the truth that no one knows how bad these frauds became. Finding the facts
is essential and can and should be done by reviewing samples of the loans pledged or sold to Fannie and Freddie and the Fed.

And professor Wray told me that record-keeping by servicers was terrible, and pointed me to the following article from the Tampa Tribune:

Peter Bakowski, a 58-year-old former Tampa mortgage broker, has admitted orchestrating a Ponzi scheme that involved more than 30 investors and institutions and more than 150 deals, documents show.

***

Bakowski sold the mortgage assignments to multiple investors, promising high rates of return and using all the money he generated to "keep the scheme afloat," according to his plea agreement.

Interesting Perspective - George Washington Blog - A Mortgage of $300,000, is Worth 9 Million Defaulted and Foreclosed On with the MERS Banks!

George Washington Blog has an article up on ZeroHedge, saying a Mortgage of $300,000 taken out is Worth 9 MILLION To the Banks when it has Defaulted and Been Foreclosed On, due to how the Derivatives and credit default swaps are set up.

Portion:

But there might have been another reason that loaning to borrower who couldn't repay was the prevalent business model.

As foreclosure expert Neil Garfield notes, mortgages are worth a lot more if they default than if they perform.

Specifically, a mortgage worth $300,000 if the homeowner repays in full might be worth $9 million to the various owners of synthetic cdos and credit default swaps if the owner defaults.

We know - as alleged by the SEC:

Paulson & Co. effectively shorted the RMBS portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure.

Paulson also advised Los Angeles apartment mogul Jeff Greene to do something similar. Greene was heavily involved in the subprime market, and he bought the worst of the mortgage backed securities, and then bet against the bonds using CDS.

But Garfield says that it is broader than just a couple of investors like Paulson and Greene. He believes that was basically the business model for the entire mortgage industry.

He said that the big banks that packaged mortgage backed securities had an incentive to suck in really bad mortgages. If a certain percentage of the mortgages default, the cdo and cds side bets pay many times more than the actual mortgage could possibly pay.
This is yet another nail in the coffin, as far as I am concerned and explains the Goldman Sachs people laughing about their "shit mortgage funds" they were selling and then shorting!  It also explains WHY all the Big Wall Street Firms have MADE Money this year while those they advice have Lost Money this year, due to their advice. 

They Sell junk purposely and created mortgages purposely to Fail in packages just so they could short and bet against them!  The evil that I thought I knew of the Wall Street banks, is no where close to the evil they really are!  They will go against homeowners and investors for their idolizing the Paper of a Dollar!

Citigroup Confernce Call - What is Coming Out right now - JUST TIP OF ICEBERG - In Problems with Bank FRAUD!

A Citigroup Call with investors, didn't go the way, I assume the company had planned.  Adam Levitin, an associate professor of law at Georgetown University, spoke on it.  He said what is happening right now is "Just the Tip of the Iceberg".

Zerohedge has lots of information on the site.  I have to Say I am Thrilled with all the attention Zerohedge has given the MERS Foreclosure Fraud by the Banks! 


Portions of Article:

Far from providing the "all green" call participants had desired, Levitin said that what we have recently seen and heard in the news is “just the tip of the iceberg” and that the foreclosure halt may well cause a "systemic problem",
"Our speaker predicted that more and more lenders are likely to stop their foreclosure processes in both judicial and non-judicial states. He also expects more states’ attorney generals to get involved. At the federal level, it is possible than banking regulators might step in as there is legal and reputational risk for the banks involved. Ultimately, if these issues do in fact escalate, the Administration may try to broker some sort of settlement. If such deal brokering does take place, Levitin believes that “some payment” will be exacted from the lenders and servicers. The Administration could bargain for more mortgage principal write downs." In other words, the endgame will likely end up being the extraction of material concession from the banking syndicate, in the form of systemic mortgage writedowns, with Obama's blessing, which will likely put the 25% of homeowners who are underwater on equal footing with the other 75%. It may turn out that this was the plan all along. And people naively wonder why banks have hundreds of billions in cash stashed on the sidelines...

here is Citibanks Concern on the Foreclosure Fraud issues:

Issues Concerning Affidavits

When the aforementioned paperwork is lost, an agent of the mortgage servicer can sign an affidavit swearing that he or she has personal knowledge that, although now lost, the trustee was once in possession of the necessary documents. The affidavit is considered to have the same weight as sworn testimony in a court of law.

Two problems have emerged with regards to affidavits. First, several news stories have reported that the people signing these affidavits had no knowledge of the matters in question despite the fact that there were legally testifying that they did. Many of these people have since been labeled “robo-signers” given the tremendous volumes of affidavits which they signed in relatively short periods of time. Second, the affidavits may be irrelevant because the issue is not that the mortgage documents were lost but they were never properly transferred at each step of the aforementioned securitization process.

Issues Concerning Tax and Trust Laws

Beyond the affidavit issues, our speaker highlighted potential problems concerning the trusts which hold the securitized mortgages. Most mortgage trusts were set up as REMICs (Real Estate Mortgage Investment Conduits) which are special purpose vehicles used to pool mortgages. Under the IRS code, REMIC confers a special tax status in which the cash flows to the trust are not taxed. Investors in the trust pay taxes. The tax exempt nature is important. If the trusts were in fact to be taxed, the taxes would distort the yields required by investors.

To qualify as a REMIC under the IRS code and enjoy the beneficial tax treatment, the trust (1) must be passive and (2) cannot acquire any new assets 90 days following the trust’s creation.

If, as described above, mortgage documents were never correctly passed through to the trust when it was established, then the trust may not actually own the underlying mortgages it purports to own. Although it is possible that this issue could be remedied by some legal maneuvering, doing so could violate the REMIC status since the trust would be acquiring assets long after the aforementioned 90 day period has expired. Such a violation in turn could trigger a sizeable tax burden for investors. Our speaker indicated that there are a handful of open questions on this front and that this is a legal gray area.

Issues Concerning Title Insurers

Levitin noted that all of the above issues may impact how title insurance companies act. If a scenario emerges in which title companies are unwilling to issue title insurance, in those scenarios lenders may cease lending.

When a home with a mortgage on it is sold, the mortgage must be released at closing by the current mortgage owner before a new mortgage with title insurance is issued. If it is not known with certainty who owns the mortgage in question, it cannot be released. If the title company is not satisfied that there is a good release on the old mortgage, it will refuse to insure the new mortgage.

None of these issues affect mortgages for newly constructed homes. Our speaker expects the mortgage market for new homes to continue to function without any material hindrances.

Issues Concerning MERS

MERS (Mortgage Electronic Registration Systems) functions as a centralized electronic registry of mortgages and tracks ownership of mortgages. MERS allows mortgage ownership to change hands efficiently and relatively quickly since it is electronic and allows all parties to forgo making a filing in local land records. Indeed, MERS was designed to function as a substitute for local land records.

Although MERS was designed to enhance efficiency in the mortgage assignment process, Levitin argued it may not conform with the law. “Slowly but surely” courts are issuing decisions which “cast validity on the MERS process.” Although ~60% of mortgages list MERS as the “nominee” which owns the mortgage, a handful of recent court cases have ruled that MERS has no standing in foreclosure actions either because (1) physical paperwork must be transferred when a mortgage is assigned by one party to another or (2) MERS has no true economic interest in the mortgage in question since it collects no payments from the borrowers.