FRAUDCLOSURE: "MBS INVESTORS ARE CALLING THEIR LAWYERS" 10-18-2010

[gambit1357]

Who are the biggest bond holders of mortgage backed securities?? Is it state pension funds?

[traynickel]

@gambit1357 Pension Funds, Hedge Funds and Sovereign Wealth Funds. The Shit is about to Hit the Fan....

[419boyos]

here's a thought too, income taxes for individuals are going to increase with out the deduction of interest, but possibly losses. If all was leveled out, fairly, income taxes could still increase if I was allowed to pay anything on my mortgage.

[CCMochi]

Rob Arnott...

If you've never heard of him, find out.

May 08, 2010 Kingworldnews interview. Probably one of the best interviews of our time, about our time.

Check him out -

[fee1776]

@CCMochi I listen to KWN on a weekly basis. Great on line radio. Spread the world.

[Spanxxx]

i feel very ignorant...

[kmitchem4]

Let all them corupt bitches get rich cause when it all crashes it will be worthless and so will gold! You think im going to buy gold and use it to live off of your nuts! Your neibor will kill you for that gold then his neibor will kill that guy to take his gold and before you know it were in the dark ages! Gold will not help you its the change over from this monetary system to a resource based system based around surpressed technology! You peopl have been left out of the free energy loop! LOL

[Manofbegging]

@kmitchem4 You're mom will always be able to rent out her mouth, for what, 50 cents a suck! And then your dad is working the gay bath house. But, he does that as a work for 'fun'. Perhaps you could make a living as the world's first walking talking PIECE OF SHIT!

Seriously, if I wanted to hear from assholes, I would have farted.

[kmitchem4]

@Manofbegging id be carefull what you say Manofballlicking! Such crap coming out of your mouth will only have you ending up alone playing with yourself! I never said anything to you personally and technically your comment to my opinion really makes no sence. If i were you id stick to saterday morning cartoons cause your still in your kiddy years according to your words! Grow up or wake up which comes first for ya!

[ginaswo]

thank you so much for posting!! the fact that Obama is having taxpayers eat all these MBS losses via FAN FRED FHA rather than end the TBTF is criminal IMO. Charlie Gasparino's book 'Bought and Paid for' about how Jamie DImon, Lloyd Blankfein, John Mack essentially selected and paid for Obama seems to be spot on,

[TruthAxe]

You amuse, @cheneygottagun. The grown-ups are discussing money.

I don' t know what medication you're on, but I would look into getting switched. This level of unbridled angst and anger can't be healthy, unless you have a death wish.

[kicktroolinface]

the banks thought we would be under marshall law by now....they are evil, now lets sue the life out of them!!

[ttboy1076]

this guy is speaking the truth...

[sedonadeb]

This is one of the best video clips I have seen that explains the nuts and bolts of the fraudclosure mess, thanks for the post!

[TruthAxe]

Whalen is smart. He's one of the few worthy of your time. Others: Marc Faber, Hugh Hendry, Doug Dachille, David Rosenberg, Howard Davidowitz, James Grant, Peter Schiff, Niall Ferguson, Doug Casey, Jim Rogers.

[traynickel]

@TruthAxe I like: Jim Willie, Jim Sinclair, Bob Chapman, Max Keiser, Karl Denninger, Dr. Frances Cress-Welsing, and Ellen Brown

[TruthAxe]

@traynickel You present an interesting list. Keiser is an after-the-fact reporter with no skin in the game -- no large sums of money invested

Denninger is a disrespectful jack ass who wastes the time of others, making them jump through hoops to participate on his NAZI-style message board.

Ellen Brown is clueless, pro-government control of money clown who does not get at all anything about money, credit, banking and central banking. She's useless.

I've read Jim Willie CB on Market Oracle UK

[EmmanuelGoldstein198]

GREAT video. Please be sure to post any Bloomberg follow-up interviews with Whalen.

[dv2012]

Excellent vid

[ttideburger]

who cares about the inflation/deflation debated. Gold and silver will win either way. I hope it is deflation, i would love to hang the bankers and politicians.

[drkevincampbell]

Inflation is not where we are heading. We are entering a deflationary depression much worse than 1929. How this market is staying up is pure smoke and mirrors. The DOW should be below 4000 right now!

[tyronebiggums3]

Here it comes...

[tyronebiggums3]

FOA, '01:

"My friend, debt is the very essence of fiat. As debt defaults, fiat is destroyed. This is where all these deflationists get their direction. Not seeing hyperinflation is the process of saving debt at all costs, even buying it outright for cash. Deflation is impossible in today's dollar terms because policy will allow the printing of cash, if necessary, to cover every last bit of debt and dumping it on your front lawn! Worthless dollars, of course, but no deflation in dollar terms!"

[drkevincampbell]

@tyronebiggums3 You are mistaken. The destruction of money supply is far ahead of money printing by the Fed. Why do you think they want to launch QE2? If QE1 was working, they would not need QE2. It's not working. M3 is dropping like a rock. Down 11% already. This last debt auction was horrible. There is no way in hell inflation or hyper inflation can be created in this money contraction enviroment. Ten dollars eliminated for ever dollar printed is DEFLATION pure and simple.

[tyronebiggums3]

@drkevincampbell

Deflation, pure and simple?

I tend to follow and agree with FOFOA. I recommend his Hyperinflation article, Parts 1-3. They will ramp up QE to cover every last bit of bad debt. Everyone will "get their money".

[drkevincampbell]

@tyronebiggums3 Any economist with a brain that is functioning knows inflation is IMPOSSIBLE in these conditions. No lending + No spending + Massive unemployment = Deflation. Forget about these inflation hustling morons and study the real numbers for crying out loud. This is not Zimbaubwe. There is huge money contraction taking place. Look at the number of bad mortgages and bad debt overall. This contracts the money supply. This is why the Fed is trying QE, but it will fail.

[tyronebiggums3]

@drkevincampbell

"Look at the number of bad mortgages and bad debt overall."

.

I see it, and I've seen in coming since the early 2000's. And I believe the government will print to cover every last dollar of bad debt. There are no "losers" in the USA. Everyone will get paid.

.

"This is where all these deflationists get their direction. Not seeing hyperinflation is the process of saving debt at all costs, even buying it outright for cash."

[nayanmalig]

@drkevincampbell money supply contracts in the USA because of zero interest rates. the cheap money goes abroad by the billions searching for higher returns & inflation is exported. but the basic commodities in the US goes up in price at a noticeable rate because the cheap $ is flooding the world & going down in value. although i don live in USA this is what i gathered.

[TruthAxe]

@nayanmalig Under our fiduciary money system, only money(Fed Res banknotes and U.S. token coins are money. All else is credit.

A check at the FRED (St. Louis Fed) shows that inflation (central bankers trying to increase the sale of products of their commercial bank members -- credit) does not exist. How do we know? Non-revolving and revolving credit has fallen.

However, money accretion -- new notes and coins joining existing ones -- has increased. Thus prices for cash-based items is rising.

[nayanmalig]

@TruthAxe if new notes and coins joining existing ones driving prices for cash-based items high it's a kind of inflation. i don't know what the deflation camp is trying to get at. a US citizen who has to face rising prices of essential items on a monthly basis would only feel & live inflation while the deflation camp lectures economics that makes no sense to this citizen. so only a US citizen can really say whether it's deflation or inflation. maybe it differs from state to state. right?

[TruthAxe]

@nayanmalig People who don't get money, credit, banking and central banking confuse it for inflation; but actually, it's called money accretion.

When the accretion rate exceeds the output rate, the unit buying power of money drops. Those who rail against fiduciary money call that "debasement".

Inflation is a purpose-driven process undertaken by central bankers to increase the number of sold products -- open contracts of credit -- of their member bankers.

...

[TruthAxe]

@nayanmalig Reduction in interbank lending rate and reduction of reserve requirement ratios are two ways that central bankers engage inflation in hopes of achieving their goal -- an increase in non-revolving credit and revolving credit.

Some goods, like houses, college degrees, elective cosmetic surgeries, trips around the earth depend on non-rev credit. Others, like meals eaten out, fine clothing rely on rev credit. Prices and sales are dropping on these things.

[TruthAxe]

@nayanmalig Cash-based goods, like gasoline, groceries, and cheap entertainment like movies have seen prices rise because of an increase in cash holdings.

The demand for cash has gone up as persons lack access or want for revolving and non-revolving credit.

It's all plain-as-sight on the St. Louis Fed's FRED site.

Again, nearly all do not get money, credit, banking and central banking. Their opinions about such matters are worthless and usually based in fear or fear-mongering with an agenda.

[TruthAxe]

@nayanmalig There's a whole group of misguided people who claim, wrongly, of course, that Fed res bankers create money from "thin air", which they don't.

All money that gets introduced into circulation through money accretion does so because of bank customers demand to hold cash. Fed Res bankers order the U.S. Treasury to print more Fed Res banknotes and mint more U.S. token coins based on the Monday through Thursday demand for cash thru ATM and bankteller withdrawals.

[TruthAxe]

@nayanmalig However, Central bankers create bank credits from thin air when they "monetize the debt" by buying U.S. Treasuries simply by adding bank credits to the checking accounts of various government agencies.

And yes, this leads to money accretion, eventually, which, when it outstrips the output rate, reduces the unit buying power of money in circulation.

What people see, of course, are rising prices on things, especially cash-based goods.

This is what needs to be stopped.

[TruthAxe]

@nayanmalig Yet most never stop and then start to think about what economics was like when specie money was the medium of exchange.

Gold strikes and silver strikes would lead to rapid money accretion and hence a loss of buying power. Also, this happened whenever wars in other countries drove investors to seek safe havens elsewhere.

Also, under specie money, most persons still used banknotes, albeit from many banks and not merely one. Inflation would lead to excessive issue, bubble and collapse

[nayanmalig]

@TruthAxe OK, i gather u live in USA. do you see the federal reserve (with obama & the US congress) & its QE as positive or negative to the long term stability of the country, economy & the living standards of its citizens? are they deliberately trashing the economy to reward themselves as some claim, or don't they have a choice? if u were bernanke what would u have done? tough questions but i'd like ur opinion if u can.

[TruthAxe]

@nayanmalig Money is mere medium of exchange. In the end, wealth must trade for wealth.

QE2 creates credit and then money. It's bad from an economic sense. From political sense, it's far worse. It's corrupting. It's a source of power consolidation.

QE2 shall keep all of the flunkies in government in their jobs and all of the inefficient producers who sell to government in business.

[Manofbegging]

@drkevincampbell Wrong. Inflation is NOT simply a consumer driven event. What happens if us bond holders see an inevitable dollar decline and decide to dump their bonds for commodities? hmmmmmm

[michielma]

FRAUDCLOSURE is about to explode. Things are coming